C-Suite Advisory

Business Owners Are All-In on Automation in 2019

Most businesses today rely on some form of automation. Efficiency is king, and customers expect companies to understand them and meet their expectations or will take their business elsewhere. Increasingly, customers are expecting a quick and thorough answer to their questions.

How can businesses continue to reduce repeatable work while also meeting the needs of 2019’s consumers? The answer is in clever applications of the newest developments in automation. This year’s innovations enable businesses to target and cultivate the most lucrative relationships and prospects efficiently.

Marketing Automation by the Numbers

Marketing automation is one of the quickest ways for companies to boost competitiveness today. It may also have one of the highest ROIs. Salesforce finds that businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads So how does it work?

Think about what any given marketing department does in a day. Not all prospects pan out. An automated marketing system can drive focus towards the most probable (and profitable) leads while minimizing time spent on prospects that are less likely to engage. This powerful combo of less time on low-yield prospects and more time on profitable ones leads to an average ROI of $6.66 per dollar spent on marketing automation.

Understanding The Customer

In the past, automation could produce a clean dataset of inventory consumption and purchases. Today, modern cognitive computing goes a step further to analyze those data. While last year’s business owners may have produced simple bounce rate reports, today’s cognitive computing systems can zero in on analyzing those customers who stayed – and why.

With modern artificial intelligence tools, AI systems can produce analyses of a company’s data automatically – evaluations which would have cost the business and its internal or external analysts time and money. Sites like Mode Analytics, allow organizations to create visualizations of data simply, just with a few lines of code. These visualizations can help teams see trends visually, beyond just the data output.   Business owners receive the benefit of uncovering their data insights in real-time for less overhead.

Automating Admin Tasks

By now, business owners are familiar with the basic advantages of automated administrative systems. These are now modern business staples and can tighten processes and save overhead nearly anywhere in an organization, from supply management to client data storage. But today, automation is elevating these tools to a new level of utility.

For example, while the recruiting and interviewing process has once been thought of as a manual process, there are now technologies to help automate it.  Using email applications like Mixmax, HR teams can walk prospects through the process by using automated emails.  Setting up trigged emails, prospects can get automatic emails when they are marked as being a top candidate. The auto email can work to set up an interview, saving the HR team time while still providing the candidate an experience that feels personalize.

Shortening Customer Service Inquiries

In 2019, customers are continually expecting shorter and shorter response times. In fact, recent surveys have found that 82% of customers expect an immediate response to marketing or sales questions. In order to meet this demand, organization have two choices, build robust, around the clock customer service teams or leverage automation.

Many organizations are leveraging automation for customer service due to the speed of response, reduction in costs and increased level of customer care. While many types of automated customer care exists, chatbot continue to be a popular automation in 2019.  Chatbots allow for customers to get automatic responses to common questions such as deliver status, coupon requests or other standard questions. They are often leveraged on social media or the company website and some chatbots can be set up without any coding required.

Lead-to-Revenue Management Automation

Business owners may already watch their marketing efforts like a hawk, but are they watching it too closely? How is this energy driving conversions? Manually poring through click-through stats on a weekly basis isn’t going to show gains from an email marketing campaign. This is why it’s critical for business owners to consider every single manual task that staff do on a regular basis as a potential opportunity to automate.

L2RM automation, or automations that focus on lead-to-revenue management, starts small and scales upwards throughout the entire buyer journey. Take the click-through example from above. Rather than manually reviewing and analyzing email marketing response, L2RM automation tools will parse out the most important trends and leads instantly, creating more opportunities to focus energy on those higher-yield prospects. This approach harnesses modern computing power and puts it on the task of classic L2RM analyses to help business owners keep a finger on the pulse of their consumer needs.

Capture Maximum Benefits with a Diversified Approach

Business automation is no longer a single-faceted approach. Automation can take over payroll distribution, customer service chatbots, and even recruiting. New technologies are emerging to allow automation in lead generation and CRM management.

Two of the main trends in 2019 will be finding ways to incorporate automation and facilitate collaboration between team members. The best way to incorporate automation in your organization may involve conducting a deep review of tasks that are often repeated and take extensive time.  Review each department as automations may support sales, marketing, customer care or operations teams.

A global approach will yield global results. Businesses can benefit from examining everywhere repetitive human activities occur and applying today’s powerful management and automation tools to eliminate unnecessary tedium and make the most of their best prospects.

Have you read?

# Top 500 Best Universities In The World For 2019.
# World’s Top 50 Universities For Medicine And Health Science Degrees, 2019.
# World’s Top 50 Universities For Life Science Degrees, 2019.
# World’s Top 50 Universities For Physical Science Degrees, 2019.

Leave a Reply

Follow us on Facebook, Twitter, Instagram, and Linkedin to never miss an update from the CEOWORLD magazine.
Matt Shealy
Matt Shealy is the President of ChamberofCommerce.com. Chamber specializes in helping small businesses grow their business on the web while facilitating the connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. Matt is a regular contributor for the CEOWORLD magazine.
Share via