The Why and How of Marketing Automation

What do we mean by marketing automation?

Marketing automation is a broad term that encompasses many technologies, tools, and solutions designed to improve the efficiency of your marketing process while creating less work for the individual. Marketing and sales departments should use marketing automation to automate online marketing campaigns and sales activities to increase revenue, maximize efficiency, and improve customer experience.

Combined with a good digital marketing strategy, a good marketing automation solution will help you identify your audience, create engaging content, and automatically trigger actions based on customer schedules and behavior.

Learn more: All About Zywave’s Insurance Agency Software

What are the benefits of marketing automation over other forms of marketing?

There are a variety of effective marketing strategies that work well. There are traditional marketing methods such as local advertising, direct mail, flyers, brochures, print ads, event marketing, etc. All can still be effective when used correctly.

On the other hand, marketing automation has the potential to accomplish almost anything that traditional marketing can do more efficiently, with less work and a higher return on investment.

The most obvious advantage is the efficiency factor. Marketing automation lets you deploy powerful marketing campaigns without having to click send continuously. This means planning social media posts, email nurture campaigns, blogs, and more.

Additionally, an important differentiator between more traditional forms of marketing and marketing automation is the availability of data and metrics in digital marketing solutions.

For example, using data, one can evaluate and fine-tune automated marketing campaigns to increase open, click-through, and conversion rates. Using data from previous campaigns, visits to your website, and engagement with your other marketing channels, you can revise your strategy to better engage and build stronger relationships.

Are we seeing more MA happening among brokers? Statistics that show its adoption rate?

Marketing automation is becoming a staple among successful, growth-oriented businesses everywhere. Major direct-to-consumer carriers have invested heavily in marketing automation to create a seamless end-to-end customer experience. Their goal with marketing automation is to eliminate any gaps when communicating with their prospects and customers.

For example, when a quote form is filled out on their website, there is an automatic email follow-up. When it’s time to renew, follow up by email. When there are changes to their policy or a prospect leaves their website, you guessed it, automatic email follow-up.

Consumers have come to expect prompt and consistent communication from their brokers. A HubSpot study showed:

  • 77% of clients want regular communication with their broker
  • 44% of clients would leave their broker due to a lack of consistent communication
  • 50% would like to have monthly news from their broker
  • 27% want weekly communication

What have we learned about MA from the success stories?

We’ve learned that marketing automation, and email marketing in particular, is one of the best ways to generate leads, cross-sell, and sell your business volume. A HubSpot study showed:

  • 66% of customers made a purchase as a direct result of email marketing.
  • When it comes to customer acquisition, email is 40 times more effective than Facebook and Twitter combined.
  • 50% of prospects in any system are not ready to buy immediately. Nurturing leads through email marketing can help you showcase your value and take leads to the next stage of their buyer’s journey.

Automating your marketing strategy better serves your prospects and customers and therefore leads to better success with conversion and retention.

What should a broker do next if they decide MA is for them?

There are many marketing automation solutions that can help your agency. What I would recommend is looking for a holistic product that can provide you with multiple ways to automate your marketing.

A good place to start is a solution that helps you automate workflows across your website, social media, and of course, automated email marketing campaigns. It can get cumbersome having multiple separate tools that perform different functions. Not to mention that if you opt for an all-in-one tool, your data will all be in one place.

Andrew Metz has worked with insurance professionals for over 12 years. He is passionate about helping independent agencies create unique value propositions and streamline internal efficiencies. As Regional Vice President of Zywave, Andrew develops new leaders within the sales organization. As an active content creator on LinkedIn, he has an audience of over 10,000 followers and engages in conversations about sales, leadership, and work-life balance.