HOW MARKETING AUTOMATION CAN HELP DRIVE RESULTS

Marketing automation, we’re sure you’re all aware of what marketing automation is, but what’s important is what it does for business. By streamlining and automating workflows and marketing tasks, you can nurture and segment leads. If your company already has a lead generation program, this helps build upon what is already being done. After capturing leads, instead of doing manual outreach, marketing automation does all of that for you and then some. It helps segment leads all while providing a great customer experience. You’re able to speak directly to that segment’s needs which improves the conversation, and you don’t have to worry about personally sending the email. In the end, companies that choose to automate lead generation see a 10% increase in revenue as little as 6-9 months.* Less spend for a higher ROI. Isn’t that the goal we’re all looking to achieve?

 

More Touchpoints Driving Potential Customers Through The Funnel

 

A 2014 Salesforce presentation, stated that “Automation users have a 53% higher conversion rate from marketing response to marketing-qualified lead than non-users.” Sending out emails in a strategic way can help engage your leads and provoke them to take action driving them further down the funnel. “Automate’ is the key word in this tactic. This process was created to help companies become more efficient. For example, drip campaigns are a series of emails for different segments. Those emails are automatically disbursed and trigger other emails based on the action the lead takes. Segments are created from your lead list and can be categorized based on lead type, where they are in the sales process, etc.

 

“Companies that excel at nurturing generate 50% more sales-ready leads at 33% lower cost.”*  

Here’s where the real help comes in. If a lead takes action on a trigger in the campaign, they are automatically pushed into a different campaign that you have already created. This might be old news to you, but these campaigns have proven success rates and should be part of your marketing plan. Even if you’re already using this form of marketing, we wanted to point out all the ways automation can help. It might just spark an idea for a drip campaign you haven’t yet set in motion.

 

Marketing Automation Aids In:

    • Lead Nurturing
    • Post-purchase Follow-up
    • Lead Scoring and Segmentation
    • Upsell

 

  • Incentive or Loyalty Programs

 

 

Positive Customer Experience:

 

At this point, you know how this tactic can help from a resource planning and touchpoint perspective. What is just as important as the continual outreach efforts, is that these campaigns can provide a positive customer experience. This is a chance to showcase your brand and product which can be done through customized content. “By 2020 customers will manage 85% of their relationships without talking to humans.”* Make sure your emails speak to the customer’s needs and that lists are segmented appropriately. Automation can help some of the processes, but what goes into the emails you’re sending out, the language, the images, the personalization, are just as important. Remember, you want the customer to engage, so talk to them in a way that would spark a conversation.

 

 

These marketing efforts need a strategy, a platform, and team to help implement. If you’re looking for help and need a second set of hands to take on this task — we like to think of our services as an extension of your already existing team. Want more information? Click here.

 

 

 

IS YOUR ORGANIZATION UP TO DATE ON DIGITAL ADA COMPLIANCE?

Businesses interested in growth don’t generally turn away customers and set out to incur government fines. But non-compliance with the Americans with Disabilities Act (ADA) can lead to exactly that. Since ADA was enacted in 1990, it has grown to embrace our changing national landscape, and that covers the Internet and digital access.1 If your institution hasn’t made accommodations across its digital offerings, awareness of the penalties should incentivize you to take steps now.

Department of Justice (DOJ) civil penalties have jumped to a maximum of $75,000 for a first violation, with additional accrued expenses in damages and legal fees ranging in the thousands to hundreds of thousands.2 This is clearly trouble best avoided. Beyond that, think of the clients you are bypassing by not providing a means through which to work with you. You and your board of directors wouldn’t think of denying movement disabled patrons access to your facility via a wheelchair ramp. Shouldn’t all disabled patrons be welcomed with accommodating digital offerings?

While the DOJ’s binding rules for ADA compliant websites are expected in 2018, the Web Content Accessibility Guidelines (WCAG-2.0) include a broad range of recommendations for accessibility relating to visual, auditory, speech, cognitive and movement limitations, photosensitivity, and learning disabilities, as well as combinations of these.

Taking steps to comply with the ADA will empower your clients and your institution. As one senior citizen commented, “As people age, they lose patience. So the easier any financial transaction is, such as paying a credit card bill, the faster it is, the more seniors will use that company or service.”

Here are some ways that specific disabilities may easily be accommodated within your company’s website and mobile app.

  • For individuals with hearing loss, audio content may not be perceived. Therefore captioning and transcripts are essential. Your public webinars can embrace more users when the transcript is posted along with a captioned video or audio cut.
  • Screen readers and/or voice dictation software may be the needed bridge for individuals with cognitive impairments, such as dyslexia or ADHD. Challenges with understanding instructions or distractions can be assuaged with these tools. Screen readers are also valuable for blind and low vision patients, as are Braille display and screen magnification software.
  • Those who are mobility impaired may have difficulty entering information. Pinching or zooming on mobile devices, along with using a computer mouse, may also be beyond their reach. Eye tracking or voice dictation software may be their key to accessing your website.

Best practices as related to the above include:

Visual & Audio Accommodation:

  • Include descriptive captions to identify an image, or alt text within the code. Without the added text, a blind person’s screen reader would not know if the image is a logo, link to another page, or a stock photo.
  • Don’t rely on color as your site’s navigational tool; colorblind users and screen readers will not be able to differentiate based on color alone.
  • Ditch the pdfs. Image based formats cannot be read by screen readers or text enlargement programs.
  • Avoid including content that flashes more than three times, including flashes within videos, as this may cause seizures for the photosensitive.
  • Where there are sound prompts, include a visual message.
  • Allow font size and color adjustments throughout the site and app. High contrast color settings or very large fonts may be necessary for the visually impaired.
  • Don’t set videos to play automatically; include text captions for the deaf, as well as narration and transcripts for the blind.

Mobility:

  • Provide keyboard shortcuts for all website functions.
  • Design tabbing order to be smooth and logical.
  • Make sure that pages relying on plugins return to the parent page or offer exit instructions.
  • Present content in multiple ways.

Online Forms – Be sure code is executed thoughtfully:

  • Make instructions easy to find.
  • Clearly label fields, and indicate required fields.
  • Provide visual and audio error messaging that explains which fields need to be fixed and why.
  • Extend session timeouts.

As you steer your company toward full digital compliance, it is wise to identify individuals who will be tasked with overseeing and ensuring web accessibility, and to include training for web and content development staff.

Want to know if your site is ADA compliant? Click here for a free assessment.

 

 

 

EMBRACE INSIGHT-DRIVEN MARKETING

Although there’s a lot of emphases placed upon data-driven marketing, it should only be the first phase of your marketing process. The second phase involves insight marketing.

So while you should be concerned about the data that you’ve collected, and you certainly want to analyze what is and isn’t working, you need to go further. And going further involves combining human intellect with analytics.

The Value of Insight-Driven Marketing

Think about some of the best ideas that you have ever had. How many of them came strictly from looking at a set of data? How many of them came from asking a question or using your imagination?

What most people don’t realize is that insights are the catalysts for new ideas, including in business. Creativity is also a major driver of change and differentiation from the competition in a tough marketplace like the financial sector.

You can have a lot of data at your fingertips, but if you don’t know how to apply that data in the right way, it won’t be valuable or useful. Insight-driven marketing is a strategy that you can use to analyze your data in a new way that will spark inspiration within your organization.

Where to Search for Insights

One of the best places where you can gain valuable insights from your data is any area where your customers interact with your brand. You can uncover a lot about your customer base and what entices them to make a purchase, remain loyal, or go elsewhere.

But rather than just gathering data regarding how your audience perceives your brand, you should dig deeper and start asking questions, such as why those perceptions are held in the first place, where they came from, and what caused them.

When you start asking questions about your data, rather than merely looking at your data from the surface, you can start to gather important and valuable information. From there, you can use that information to inform your marketing strategy.

Data Findings, Questions, and Insights

Once you have the right analytics tools, it will be easier to gather findings from your data. After those findings have been collected, you can start to ask yourself why a conclusion you’ve made from your data even exists. For example, if a finding shows that millennials prefer using mobile banking and very few of them are actually visiting branches, ask yourself why that’s the case and why it even matters. Think about why millennials are choosing mobile over other alternatives, and how they are spending their time instead.

The goal is to question the data that you’ve collected so you can come to accurate conclusions about your customers. As you ask questions, you’ll start to go beneath the surface which will help you make discoveries about your customers that the data didn’t show you at first. And then you’ll be able to use those discoveries to enhance the way you do business so you can attract and retain more customers.

Doing More with Big Data

There’s been a lot of talk about big data in the world of marketing, but if you’ve been collecting a lot of data and not really putting a plan into action as a result of the insights that you’ve gained from it, you need to start doing more.

Many financial marketers find it difficult to put their data into action because they lack the budget or the skills. However, new technology and tools are emerging that provide advanced analytics. These will help you glean insights from your demographic, behavioral, and transactional data much more easily.

Keep in mind that today’s customers of financial institutions are seeking easier ways to do their banking, and they’re hoping for more personalized service as well. Insight-driven marketing can give you a clearer perspective on how you can best meet those needs and expectations.

To successfully learn more about your target market and effectively promote your financial products and services to them, a combination of data marketing and insight-driven marketing will lead the way. Contact us today for a free consultation or to learn more about how you can create a marketing strategy that will truly inspire.