More businesses are becoming aware of the benefits that marketing automation software can provide their companies, but some industries are leveraging the software with greater fervor than others. Since marketing automation promotes digital marketing goals particularly well, it tends to cater to companies that rely heavily on Internet-based marketing. Here are the top industries utilizing marketing automation software.
Business-to-business (B2B) companies refer to any companies that sell their services directly to other businesses. Since businesses are their primary market, utilizing TV advertisements, newspaper advertisements, and other offline advertising isn’t as effective, as it reaches all consumers, rather than allowing them to tailor their ads specifically to businesses. As such, many B2B companies rely on digital marketing where they have more control over their audience.
According to Forrester’s 2018 “Marketing Automation Technology Forecast, 2017 to 2023 (Global)”, spending for marketing automation tools will grow vigorously over the next few years, reaching $25.1 billion annually by 2023 from $11.4 billion in 2017.
It’s no surprise that a large percent of marketing automation adopters are B2B businesses. B2B companies turn to marketing automation software because it provides them with greater control over their audience. They can easily segment customer data, allowing them to create ad groups that cater to specific industries, while monitoring the success of each advertisement. This allows them to easily target businesses with their services, without wasting their ad space on consumers who are unlikely to be patrons of their company.
Some of the primary B2B adopters include:
- Software and Internet companies
- Telecommunications companies
- Computer and Electronics companies
- Financial services companies
Software and Internet companies compose the largest chunk of adopters at nearly 12 percent of all sales. Telecommunications companies purchase about 5 percent of all marketing automation software, due to their marketing tactics strongly relying on digital means.
More Business-to-Consumer Companies Are Utilizing Marketing Automation
While B2B companies are the most likely to use marketing automation, the adoption rates have been increasing among business-to-consumer (B2C) companies as well. The majority of B2C companies are choosing marketing automation for the email automation it offers, with nearly 82 percent of companies relying on some form of email automation.
Since more B2C companies are taking on social media marketing and other digital marketing channels, marketing automation adoption rates have increased. Marketing automation can help improve multi-channel marketing, increasing both the effectiveness and efficiency of the strategy. Some of the primary B2C industries using marketing automation include the health and pharmaceutical industry, manufacturing industries, and real estate industry. The healthcare industry composes the largest B2C segment, with about 4 percent of all marketing automation sales.
About 70 percent of marketers’ report being unsatisfied with their current marketing strategy, according to David Raab, a marketing analysis expert. Marketing automation adoption rates are increasing among both B2B and B2C companies, as more businesses search for an efficient and effective method for generating leads. Marketing automation can make digital marketing far more productive by automating menial tasks while also improving data analysis. In addition, marketing automation reduces the cost of data management through the use of cloud-based data storage, allowing businesses to lower overhead costs in their business. While B2B companies are still experiencing greater adoption rates, industry research shows that B2C adoption rates are steadily rising and will only strengthen in the coming years.
The Bottom Line
Marketing automation tools can help you generate leads and drive revenue for your business. However, the best marketing automation tools rely on high-quality data. That’s where Leadspace comes into the picture. Our customer data platform enables you to work with the highest quality data available, thereby helping to ensure that your marketing campaigns are targeted to the right audience with the right message at the right time.
Download the Ultimate Guide to Driving Revenue with a B2B Customer Data Platform to learn more today!