There are several common themes in CLVboost’s work with startups and emerging businesses that are looking to maximize new and existing marketing technologies – and these points were echoed by a survey we’ve just completed.
CLVboost asked a number of businesses about their marketing technology investments, and received more than 130 responses from organizations with as few as two employees to more than 200, representing a number of industry segments and across regions throughout the US.
What we heard: while these businesses believe they could realize a greater return on their marketing technology investments – such as marketing automation and email marketing — and there was broad agreement on the positive impact these solutions could have – or are having — in a number of areas involving prospects and customers.
Here are some of the highlights:
- Less than 25 percent of the respondents think their organization has realized a fair return on there marketing technology investments;
- Even fewer (eight percent) were more satisfied with their ROI than they were six months ago;
- Many respondents admitted they didn’t know why there were shortcomings – or didn’t have the resources to address the hurdles hampering more effective use of these marketing technologies;
- There was equal weight given to preferred success metrics for marketing automation and email marketing, with “leads converting to customers” placing only slighty higher (33%) than achieving “greater retention of existing customers“ (28%), generating “more business from existing customers” (27%) , and “creating new business leads” (21%), and
- There was also an even balance across those areas where organizations would like to see these marketing technologies drive business development improvements, with “collecting more leads” placing first, slightly ahead of “segmenting, categorization and more targeted messaging,” “keeping prospects and customers engaged and informed,” and “tracking and increasing conversion rates to appointments and/or sales.”
So what this tells us is that while businesses believe there is room for improvement in their use of marketing technologies – they appreciate how these solutions can help more effectively attract new clients and engage their current ones.
CLVboost will follow up on this initial survey in the months ahead, checking in periodically to see what progress is being made and addressing issues raised by respondents.
With benchmarks like this – and with the continued focus on helping organizations like those in our survey -put marketing automation and email marketing technologies to better use – we’re confident they will realize the ultimate benefit: more business growth.