If you think of marketing automation as an investment, then like any investment it’s important for it to pay a return.
But for some reason, too many businesses shy away from this conversation.
We tend to look at the money we spend on software tools as simple expenses - and they might technically be (I’m no accountant), but from a practical standpoint I think it helps to frame them up as investments.
That may feel like a distinction without difference, but that mindset reminds us to actively track and measure their performance.
The Obvious (and Not So Obvious) Ways to Measure Marketing Automation ROI
So let’s take a moment just to talk about the obvious (and less obvious) ways that marketing automation can pay an ROI.
New Leads or Sales
Okay, first up, and perhaps the most obvious way that marketing automation can pay a return is in new leads or new sales (ideally both, am I right?).
If you adopt Keap, or any marketing automation platform, and you can tie new leads or new sales directly back to your investment, then that’s great, and the return is pretty clear.
Capturing more of your existing traffic, or converting leads into customers at a higher rate is a clear and obvious path to growth.
We definitely do want that - but that’s far from the only way automation can impact our businesses.
It can also create less overt results, and it’s important to be aware of the less obvious ways it might be serving your business as well.
Time Savings, Cost Savings, and Peace of Mind
Three other ways that marketing automation might be paying an ROI are in time savings, cost savings, and peace of mind.
Automation can take things that were being done by a human, and deliver the same results without requiring manual effort. Just take a look at the dozens of repetitive tasks that small businesses can automate.
By reducing the things we need to do manually, we’re buying back our own time, which we can then invest into other projects or catch up on our hobbies (remember those?).
This example parlays nicely into the second type of savings - cost savings.
When we feel like we’re operating at capacity all the time, then hiring help feels like a natural lever to open up more bandwidth. But automation can reduce the need for headcount, and let you be more strategic about where you spend your existing human resources.
Imagine your same core team, but with everyone doing only the things that are the best use of their time - and automation filling in the gaps.
Probably feels good, right? That feeling is what we call peace of mind.
Knowing that things are handled, your prospects aren’t slipping between the cracks, your customers are looked after - and that your team isn’t bogged down by tasks to-do lists that aren’t a good use of their time or talents.
And the beauty of this whole conversation is that these marketing automation benefits aren’t mutually exclusive - automation can and should pay an ROI in each of these categories.
In What Other Ways Can Automation Serve Your Business?
But if you’re not looking for it, then it’s easy to miss - and that can lead to underestimating the role that automation is playing, and the value it can provide.
So take a moment to examine these different categories - ask yourself if and how automation is serving your business.
And if you notice that it’s not performing in one of these categories yet - then you’ve spotted an opportunity for yet another way you can multiply the ROI you get from your marketing automation investment.
Explore the ways that automation can increase your return of investment and start a free trial with Keap.
About the Author
Greg is the founder of Monkeypod Marketing, where he focuses on empowering entrepreneurs through online courses and educational resources. More specifically, he helps small businesses understand and use automation in different ways, and at higher levels, to maximize the return on efforts.
Prior to starting Monkeypod, Greg worked at Keap as a curriculum developer and lead trainer for Infusionsoft University. In addition to small business and marketing automation, he loves hiking, traveling, watching basketball, and binging Netflix. And also dogs, he really loves dogs.
