Businesses are always looking out for relevant ways to engage with their clients, be it through loyalty programs, email marketing, audience build-ups, engaging content, or advertising. However, they are equally worried about headcount shortages and tighter budgets. With economic instability looming large, marketers are under constant pressure to boost sales, improve efficiency, and reduce costs while dealing with customers’ digital-first outlook.
According to various reports, companies that capitalize on Salesforce Marketing Cloud capabilities experience a 43% increase in their Return on Investment (ROI) along with a 44% upsurge in lead volume, as compared to those using other tools.
What is Salesforce Marketing Cloud?
Having everything inside your coven and being able to handle it using automation has been a myth until Salesforce introduced the Marketing Cloud.
Salesforce Marketing Cloud or SFMC is an all-inclusive digital marketing platform that provides several features and functionalities to empower every marketing effort. Further, SFMC enables marketers to get a comprehensive view of the audience, leading to enhanced personalized engagement through all marketing avenues.
According to a study conducted by Forrester Consulting on the Total Economic Impact of Salesforce Marketing Cloud, the five organizations that capitalized on Marketing Cloud capabilities to analyze their cost efficiency and business outcomes yielded a composite ROI of 299% over three years.
“By conferring operational efficiencies and boosting marketing effectiveness, [Salesforce Marketing Cloud] can help organizations efficiently grow revenues, reduce costs, and drive personalized customer value for business and consumer facing organizations,” the Forrester research stated.
The Payback
- Marketing Cloud generated over $5 million in incremental revenue across different channels and improved site conversion rates by over 60% during the third year.
- The average order value was amplified by 35% in year three.
- Saved 60% of time creating and running marketing campaigns.
- Decreased post-campaign reporting efforts by 90%.
Key Features of Salesforce Marketing Cloud
Salesforce Marketing Cloud offers several features for marketers. Here is the expert-curated list:
Social Studio
Social Studio serves as a one-stop tool for managing social media connections and allows you to schedule and publish posts on social media, track performance using analytics, and monitor brand mentions.
Email Studio
Email Studio enables you to generate, design, send, and monitor your email drives. Marketing Cloud offers pre-built templates, facilitates the automation of campaigns with workflows and triggers, and enables audience segmentation, thereby making audience management easy.
Journey Builder
Choose bespoke customer journeys for every client through email, mobile, or social media networks. Journey Builder offers functionalities like decision points and triggers to generate tailored content for leading customers through the sales funnel.
Analytics Builder
Analytics Builder allows you to track and evaluate campaign performance and customer data. Dashboards and Reports coupled with data visualizations monitor Key Performance Indicators (KPIs) and streamline them when required.
Advertising Studio
With Advertising Studio, you can streamline the entire advertising process. You can generate and control advertising campaigns on search engines or social media. In addition, this feature incorporates AI-optimized campaigns, targets specific audiences, and assesses the results.
Content Builder
This feature enables you to create and handle creative content from a single location and has drag-and-drop content chunks to generate professional emails without bringing in HTML.
Mobile Studio
Mobile Studio helps send SMS, in-app messages, and push notifications, and enables you to customize and automate content and captivate your audience.
Contact Builder
This feature optimizes contact management and data utilization, facilitating easy access to relationships and contact data. It allows users to organize, manage, link, and merge data from several sources including CRM, ERP, and Point-of-Sale (POS) systems that include external sources.
How to Maximize Your ROI with SFMC?
Image courtesy: https://www.grazitti.com/blog/salesforce-marketing-cloud-your-key-to-generating-positive-roi/
Let us see how you can maximize ROI using your SFMC investment:
1. Automated Campaigns
SFMC’s automation capabilities empower you to build campaigns that get triggered according to specific customer actions. For instance, you can send mail to customers who deserted their shopping carts or provide a discount code to customers who have not purchased for quite some time. This helps increase the chances of customer conversions, leading to an improved ROI.
2. Audience Segmentation
SFMC enables you to categorize your target audience based on criteria such as demographics, age, gender, etc., and helps you understand customer behavior. With the Audience Builder feature, you can generate targeted campaigns that can handle the interests and requirements of each group, leading to increased engagement rates and improved conversions, ultimately providing a positive ROI.
3. Monitor Campaign Performance
SFMC offers comprehensive analytics and reporting abilities that enable you to monitor the performance of your marketing campaigns in real-time. This helps you to swiftly identify what works (and more importantly, what does not), and make necessary changes to improve ROI.
4. Multi-channel Marketing
SFMC helps you reach your target audience via multiple channels including SMS, email, social media channels, and push notifications. This allows you to engage with the customers on their favorite channels, increasing the chances of conversions and a boosted ROI.
5. Predictive Intelligence
SFMC’s predictive intelligence feature helps you to identify prospective leads and list them for follow-ups. This enables you to channel your resources to the leads that are likely to convert.
Salesforce Marketing Cloud – The Game-changer
Salesforce Marketing Cloud leverages cloud technology and provides a seamless, real-time association with your clients. Furthermore, SFMC helps to gauge the efficiency of your marketing campaigns and offers instantaneous feedback on customer preferences, enabling you to customize your content accordingly.
Here are some strategies to transform your marketing journey:
Surprise Your Customers: Include a Personalization Element When it is Least Expected
Personalization is an essential element for campaign performance as it helps to improve business profitability and gain a thorough understanding of the right customers. SFMC helps you create triggers that urge specific actions and customized messages to lead prospects to the purchase path.
Leverage Customer Data to Gain Insights
SFMC helps you get valuable insights regarding customers, allowing you to generate targeted content that meets their goals. Using the predictive analytics capabilities, SFMC even helps you predict their future activities, keeping you ahead in the game.
Establishing a Single Source of Truth
SFMC empowers you to generate an all-encompassing view of your customers. You can create a single customer view for each potential point of contact by uniting customer profiles, user data, marketing campaigns, and privacy management. Integrated profiles are based on a common ID that already exists on the CRM and other sources, which implies that key information can be matched with a single prospect or customer, providing a personalized and seamless experience. With this data synchronized on a single platform, you can offer a single source of truth for your clients, ensuring that all stakeholders are in the groove.
Encourage Your Customers to Guide Your Business
SFMC helps to improve customer satisfaction levels as it can automatically fine-tune based on signals from key accounts. This information enables you to adjust your message tone to keep your clients happy and engaged, thus making the marketing journey more effective and meaningful.
Use Cases
- Life Time Fitness implemented SFMC to modernize their e-mail marketing campaigns where they aimed to connect one-on-one with each prospect. After deploying SFMC into their stream, marketing staff productivity, member acquisition, and engagement were significantly improved.
ROI: 154%
Average annual benefit: $608,297
Payback time: 9 months
- Amplify Credit Union, a member-owned financial cooperative, has eight branches in Texas and offers wealth management, personal loans, personal banking and savings, commercial banking, and lending services. Amplify implemented SFMC to replace a decentralized system that impeded future growth. Result: an increase in productivity and marketing efficiency. Further, the company was able to optimize its advertising expenses and improve revenue.
ROI: 1079%
Average annual benefit: $2,784,792
Payback time: 16 weeks
Conclusion
SFMC enables you to engage with your customers, no matter at what stage they are in their journey. Introducing this solution to your business setting needs an expert’s assistance. As a Salesforce consulting services company that has rich industry experience for over a decade, we can help.
Get in touch with us at itsolutions@milestone.tech to step up your marketing game today!
