New study from Mintigo shows that while 11.8% of the Software and Internet industry has already adopted Marketing Automation, overall adoption is mere 4.9%. Can it cross the chasm?
If there is one clear trend from the new research by Mintigo, it is that technology marketers are early adopters of technology. According to the research, 11.8% of technology companies have already adopted Marketing Automation Platforms as compared to 4.9% overall.
To conduct the research, Mintigo analyzed more than 180,000 US companies in the business-to-business arena. Results show that Real Estate and Construction, Financial Services and Manufacturing hardly use Marketing Automation at all. Telecommunications, Computer & Electronics and Health & Pharma have average adoption of between 4% and 6%.
While Marketing Automation has gained ground with early adopters, it is hardly a new concept. According to Google Trends, searches for the names of the largest Marketing Automation vendors have been increasing steadily since 2005, almost nine years ago—hardly showing a hockey stick curve.
Marketing Automation Search Trends
Why is adoption so hard? The truth is that Marketing Automation strategy is hard to implement. According to David Raab, when looking at the most effective marketing tactics as compared to the easiest to execute, lead nurturing and scoring and use of marketing automation fall short behind all other tactics. No surprise that Raab found that only 26% of marketers actually make extensive use of Marketing Automation.
In another blog post, Raab analyzed which Marketing Automation tools are actually being used. These results show that while marketers make extensive use of the email feature, nurturing, landing pages and scoring are used far less often.
Use of Marketing Automation Features
Furthermore, Marketing Automation requires marketers to produce massive amounts of content to be able to nurture leads over time. Yet, the majority of marketers lack both the time to produce content and are struggling to produce enough content, according to the Content Marketing Institute and Marketing Profs.
Fortunately, there is a silver lining. One of the challenges in setting up scoring models and nurturing programs is the guesswork and lack of a structured approach that delivers results. Customer Intelligence, however, will change all that.
For scoring, Customer Intelligence will identify prospects that are likely to buy even before they have downloaded large amounts of content. Furthermore, it can find hidden gems in a large database of prospects.
For nurturing, Customer Intelligence will match the right content for the prospect based on the product that he is likely to buy and past responses of similar peers. In addition, it will predict the channel that the prospect is most likely to respond to.
Finally, the largest promise of Customer Intelligence is that all of this is going to be turnkey—no setup required! Big-data, which was once the domain of mad scientists and number crunchers may actually be the bridge that will help marketing automation to cross the chasm from early adopters to every marketer’s toolset.