High growth organizations continuously devote more resources to marketing while researching their target audiences frequently and bringing higher skill levels into the process.
Marketing leaders today continue to try out advanced technologies, specifically automation, to keep up and running. Primarily, the high-growth marketing organizations see the most success in this area amid the pandemic time.
A recent research study from The Hinge Research Institute revealed high-growth firms are most likely to have a mature marketing and sales automation approach in place. These are the businesses that have experienced exponentially high growth in this unprecedented time.
Compared to their counterparts, the statistics are 26.2% vs. 16.6%, according to the report titled, “High Growth Study 2021”. In addition, about 46.6% of the sales leads come from various digital sources among marketing professionals who have high-level automation in place.
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This is in contrast to 42.4% amongst those with mid-level automation, as well as only 30.6% among the marketers with low-level automation set-up. With marketing and sales automation being significant tools to leverage scarce resources, this ultimately accelerates digital lead generation.
However, experts believe only owning such innovative tools is not enough in these trying times. They should be deployed in an effective way that allows them to be productive, streamlining the overall process.
As mentioned in the report, ‘Automating a flawed strategy seldom helps,’ the process of finding and converting marketing leads is still a struggle for marketers across industries.
Hence, many brands have email marketing automation and a customer relationship management system in place to avoid any discrepancies in the process.
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Given the current market scenario, the sales representatives find following up with leads swiftly is still a challenge. Even though they put the maximum effort to follow up, only a few lead conversion solutions are actively in place.
From a pandemic to the continuous waves of social change, 2020 had been a year that challenged long-held business assumptions. This caused many companies to re-evaluate every aspect of their business -most importantly, marketing and sales teams.
Undoubtedly, digital marketing today has become a mainstay for modern professional services marketing. In reality, digital marketing and spending on martech is accelerating at a rapid pace. However, going digital is not only about marketing – but greater automation maturity is also a key distinctive feature of the high growth companies.
To conclude, as mentioned in the study – “Marketing professional services has become a more complex task that requires focused effort, true insight, and the right skillsets. Buying the tool is pointless unless you are using it correctly. Faithfully executing a flawed strategy does not help you grow faster.”
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