If you want more qualified leads for your sales team, higher conversion rates from lead to sale, and more awareness, get onboard with marketing technology.
One would think that lead management is a common practice amongst manufacturing businesses. As a contemporary marketer myself, I would like to believe that everyone indeed must be using a marketing tech stack. Tools like marketing automation, CRM, automatic lead hand-off, lead nurturing, lead scoring, and funnel management are readily available and inexpensive. How could any marketer or business owner miss this opportunity with all the buzz over the past five years?
Wondering if marketing automation is right for your company? Read this blog post for help determining yes or no.
But, it ain't so. According to the latest Marketing Sherpa B2B Benchmark Report, only 24% of all B2B marketers are using a marketing automation system. Of that 24 % only 30% are using the high ROI lead management tactics of lead scoring, lead nurturing or basic lead funnel management. Even more astounding is that the Marketing Sherpa survey shows that companies using lead scoring see a 77% improvement in lead generation ROI and a 79% improvement for those using lead nurturing. So the obvious question is, "why aren't more manufacturing firms capitalizing on this powerful technology?"
I'm an avid superuser of several marketing automation platforms and have been using these high ROI lead management tactics for the past eight years.
Marketing technology tools will increase leads, improve conversion rates, and increase sales.
I've spent hundreds of hours learning the strategy and tactics possible with a modern marketing technology stack. I know it's not easy, but the payoff can be huge.
Perhaps the problem lies in that most manufacturing marketing departments are under-resourced, overworked and under-appreciated with little time to spend learning how to use new digital technology. Unfortunately, having the time to learn how to use a marketing automation technology is a luxury in most B2B organizations. I suspect this is the reason for the low adoption rate of such a powerful tool.
On the flip side, for those organizations with a marketing leader and a marketing team willing and able to learn this technology, they can gain a huge advantage over those competitors who are not able or ready to use the technology.
For you CEOs and CFOs out there who view your marketing department as an expense, it's time to break out of this 20th-century paradigm. A properly established marketing department is your secret revenue engine!
A tech savvy marketer could take any B2B manufacturing firm in the 76% who are not using automation or any of the 70% not fully leveraging automation and add 10% to their top line within 12 months (assuming support from the C-suite). I've done it, and I know it's possible.