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Automate Your Marketing, Increase Your Revenue-High Tech on the Low Episode 92
Idan Carmeli of Envy believes in getting the operational foundations of marketing automation right since it is the key to a successful marketing funnel that will drive business and revenue.
The success of startups and small businesses often hinges on their ability to stay ahead of the curve and in the eye of the consumer. Still, that can be easier said than done. Nonetheless, there are various strategies and tools entrepreneurs and teams can use to boost their businesses. Marketing automation is an example of such a powerful tool that when implemented correctly in organizations can drive revenue growth and business success. But how do you know when to automate your marketing processes, and what should you prioritize?
In Episode 92 of High Tech on the Low, Idan Carmeli, Managing Partner at Envy, a leading B2B marketing firm, shared his insights on market automation and revenue operations and his advice for entrepreneurs on how to leverage automations for success.
Idan Carmeli explains to drive revenue you must first build a solid marketing base.
Automate Your Marketing, When You're Ready
Simply put, marketing automation is the process of integrating various digital tools into your workflow that allow a business to automate both repetitive, mundane marketing tasks, such as sending onboarding emails or data entry, as well as more advanced tasks, such as customer follow up and even content creation. Overall, adding marketing automation to any operation can streamline and optimize the business' marketing processes, thereby freeing up time and resources to focus on other areas of the business. However, as Carmeli notes, marketing automation is not a one-size-fits-all solution. To determine if automation is right for your business, it's important to assess your marketing maturity level.
"Marketing automation is not a starting point, it's a solution for a certain level of a company that is ready," says Idan. "Entrepreneurs should start by = testing and optimizing their marketing strategies before automating processes." Eventually, with the right strategies and processes in place, the companies will be in a better position to scale and gain more data and insights.
To determine the marketing maturity level of a company, Idan suggests that entrepreneurs start by defining their marketing strategy. This includes intensive research and testing regarding a business' target audience, client pain points and needs, and marketing messaging. A strategic approach that prioritizes customer needs and aligns with business goals will then allow marketing automation to simply amplify the foundation already laid out.
Is Revenue Always the Goal?
At Envy, Idan emphasizes how they work in 'RevOps' essentially a term that means focusing on driving revenue and maximizing efficiency for a business. While revenue is a crucial metric for any business, Idan warns against making it the sole focus of your marketing efforts. "Focusing solely on revenue can lead to short-term thinking and missed opportunities for long-term growth, especially as an early stage company," says Idan. He argues that revenue is not the only measure of success, and that entrepreneurs should also prioritize building relationships with their customers and providing value through their marketing initiatives, which can inevitably bring in revenue.
"Entrepreneurs should prioritize building a strong brand, providing exceptional customer experiences, and leveraging their marketing efforts to build trust and loyalty with their target audience," Idan adds. Once they have been successful in doing so, then these companies can begin looking to new ways to optimize their revenue. To achieve these goals, entrepreneurs should then focus on creating content and messaging that speaks directly to their target audience and is supported by an automated system, feeding a marketing funnel that drives revenue.
How Entrepreneurs Should Prioritize Building Marketing Funnels
A successful marketing funnel requires a strategic approach that prioritizes customer needs and aligns with business goals. It is not one that is built on automation. "Automating a bad strategy can actually be more harmful than good," idan explains. To build a marketing funnel that drives revenue growth, entrepreneurs should start by mapping out their customer journey. "Entrepreneurs need to really understand their customers, what they need at each stage of the journey," says Idan. By creating awareness, generating interest, nurturing leads, and ultimately converting them into paying customers, companies create a well oiled revenue machine.
Doing so, however, is not a simple task. Entrepreneurs should use a combination of data-driven insights and creative storytelling. They should also continuously test and optimize their marketing funnel, identifying areas for improvement and refining their messaging and content to better resonate with their audience. Marketing automation can be a powerful tool for driving revenue and business growth, but it's important to approach it strategically and with a long-term mindset.