Artificial IntelligenceDigital MarketingNews

Marketing automation: thriving in a hyper competitive market

A view on competitive advantage, by Avi Ben Ezra

Many marketers and business people are now aware of the fact that marketing automation can really do wonders for any business. The results which are seen after the implementation process has been completed is often significantly better than the advertised product and all of those marketing claims. This is why, in this time where we at SnatchBot worked closely with clients to understand the areas of cost saving and actual ROI’s, measured against customer satisfaction, we have come to realize that there are also certain caveats to be aware of in order to retain competitive advantage.

However, businesses who have entered marketing automation have also seen that this can be a viciously competitive market. What this means is that when a business or marketing organization make it known that they are considering a different MA provider than the current provider is often more than willing to offer sizable discounts. A whole range of opportunities may be accessible to businesses who enter the market. It often happens that they are offered high-level services even though there are only paying for low-level services. Playing one provider against another will mostly result in even better rates especially when long-term contracts are signed.

Additional benefits of MA programs

 

The average business has many subscriptions to things such as social media, email services, and SEO monitoring systems. All of these subscriptions can cost the business a lot of money. However many marketing automation services already have most of those services included in their basic packages. Therefore when joining an MA service it may be possible to cancel many of those other subscriptions which mean that the cost of your MA program is substantially reduced. A business which is selling products or services may require an extensive sales team to ensure that the business is able to close enough deals. However, an effective MA system is able to take over many of the functions which are normally done by the members of your sales team. Therefore less human resources are required which means that your business can save a lot of money. With a properly implemented MA system, the man hours often required to successfully close a deal can be substantially reduced. Furthermore, MA programs run 24 hours a day and 365 days a year, unlike their human counterparts.

Looking at the cost

 

When you implement a marketing automation program, it comes with a wide variety of sophisticated features. Those things provide extraordinary benefits which are why MA systems can be expensive. Then there are those businesses who want to go all the way and are looking to implement systems with the most sophisticated features available. This can become costly and the monthly premiums might be high. Even when the business cuts a few corners the system can still cost several hundred dollars a month. To a sizable business that cost may be miniscule and insignificant. However, to a relatively small business, it is certainly something which has to be carefully considered. There needs to be a balance between cost and the expected benefits.

Marketing automation programs are making use of incredibly powerful tools. This allows them to be highly beneficial to any business where they are implemented. In 99% of the cases MA programs more than justify the initial cost of implementation.

 

 

 

 

Avi Ben Ezra

Avi Ben Ezra is the Chief Technology Officer (CTO) and Cofounder of SnatchBot and SnatchApp (Snatch Group Limited). He leads the Group’s long-term technology vision and is responsible for running all facets of the tech business which includes being the architect of the platforms and UI interfaces. Avi has proven tech track record and 15+ years of demonstrated career success developing tech initiatives of organizations of varying size and scope. Avi possesses in-depth experience in developing digital market places within Fintech and AI.
Back to top button