These are the most exciting as well as challenging times for businesses across the world. New business models are coming up daily and existing businesses are evolving so fast that if the pace is not matched, your successful business today can be irrelevant in the near future.
Let’s look at what is special about the current business environment.
1. World is a Global Village: The whole world is a connected global village. There are no barriers for business and communication. A business can become global and multinational in no time. This was not easy at all in the past. A burger chain from the west is available in the east and a product manufactured in Africa is available in Europe. Maintaining a competitive edge in such a dynamic and connected world is very critical.
2. Information is Everywhere: The customers now sit on a huge wealth of information. The information is available at one’s finger tips. The days are gone when the customer would enquire about the product directly with the businesses. Now the customer first looks at the product details, competitors , reviews, case studies etc and then comes to you for more specifics.The customer will be in the advanced stage of the buying cycle by the time they connect with your business. This was never the case in the past. Making product information handy for your customers makes a huge difference in the buying behaviour.
3. Multiple Channels of Communication: There are numerous channels like Social Media, Mobile, Email, SMS, etc where the customers are more prominent. The days are gone when the customers were using only limited channels like telephone or postal mail. As customers are more active on different channels, it becomes mandatory for businesses to be available on those channels and make it convenient for them to connect whenever required.
4. Tons of Customer Data: In today’s digital world, the availability of customer data with businesses is enormous and this was never the case in the past. It is very important that the business is now able to segment customer data in the proper manner so that they can understand the digital behaviour of the customer and provide the right information at the right time.
Marketing Automation helps you create customer journeys to excite, educate and engage the customers based on their digital behaviour so that you can execute a deal with the customer in a smaller sales cycle. It helps your business to be more connected to your customers and prospects giving a 360 degree view of their needs and preferences.
It does not matter if you are an SMB or a large enterprise. Investing in Marketing Automation is no more a option. It is a must have tool for your business growth.