What Every CEO Should Know About Inventory Automation
Wise CEOs want assurance that their inventory automation investments are well spent. Wise marketers want as much money as they can possibly muster to make their advertising dreams a reality. Understood! So the question becomes: “How does a marketer justify marketing spend to the CEO?” The answer lies in marketing automation.
Seasoned marketers know that our industry is 50% creative and 50% math. On one hand, marketing is about branding through images, storytelling and emotion-evoking design work. On the other hand, marketing is about data, statistics and sales dollars.
Many a multi-million-dollar budget is spent using website impressions as a measure of effectiveness. If sales remain steady or slightly increase and people are visiting the site, reading the blog and clicking over to the company’s social media pages, then the marketing team is operating “efficiently enough” to justify the expense.
Going one step further, companies trouble themselves with another measurement known as “engagement.” This metric looks at not just how many eyes are landing on a brand’s message, but how many people are liking, linking and sharing, as well as how much time is spent on a site or how many people end up with products in their shopping carts.
In 2015, we can do better… a WHOLE LOT better. Last year, the marketing automation industry grew by 50% to $1.2 billion. It’s forecasted the industry will reach $1.8 billion by the end of the year. There are four reasons why marketing automation becomes the answer to justifying marketing expenditures — and why companies can’t afford to put off this investment any longer.
Marketing automation captures actionable data like: email opens, bounces and clicks, where visitors went on the site, etc. Ultimately, you want to answer the questions: “Which planning automation assets provide the most returns and deserve our focus? Which areas could we improve upon or eliminate?” Presenting the reports generated from marketing automation programs steers the conversation to help sales and marketing teams direct their efforts.