Investment in marketing automation tools is expected to reach $25 billion by the year 2023

The answer is a resounding yes! Automation is quickly becoming an essential tool for businesses big and small, allowing them to work smarter, faster, and more efficiently. In this article, we’ll be exploring the importance of automation tools for companies and how they can help business owners maximize their profits.

Optimize Your Workflow

Automation tools can help optimize your workflow by helping you complete tasks faster and more accurately. This means that you won’t have to worry about wasting valuable time doing mundane tasks like data entry or manual customer service tasks – instead, you can focus on areas where you can better serve your customers and grow your business.

Streamline Processes

Businesses use automation tools to streamline their processes. By automating certain parts of your workflow, you free up resources that would have been spent on manual labor and optimize your time resources for higher-value tasks like analytics, analysis or design. Automated processes also tend to lead to fewer mistakes due to human error, which can save businesses both time and money in the long run.

Reduce Costs

Automation tools are a great way to reduce company costs because they eliminate much of the cost associated with traditional manual labor or outsourcing services from other companies. Automated systems are typically cheaper than hiring employees or onboarding third-party contractors to complete a task. Additionally, since automated systems are typically much faster than traditional methods of completing a task, businesses that utilize automation will often experience an increase in overall productivity levels with increased efficiency in turn leading to lower operating costs over time.

Increase Productivity Levels

Automation allows companies to increase the productivity levels of their staff by shifting tedious, low-value tasks away from human workers and into automated systems. This reduces stress levels among employees while freeing them up to pursue more productive activities like customer service interactions or brainstorming new marketing initiatives that could propel their business forward. Automating repetitive processes also helps minimize errors caused by human error as well as ensuring business operations run smoothly even during times when staffing might be temporarily reduced due to unexpected absences.

Improve Customer Service

The right automation tools can also provide better customer service experiences for clients by automating many routine customer service operations such as answering questions through chatbots or processing returns with automated delivery confirmations – ultimately saving labor costs while improving the customer’s overall perception of the company’s quality of service

Companies have increasingly realized the benefits of using marketing automation tools. It saves more of their time and helps in scaling to run large campaigns. Hence, more and more companies are ready to invest in such tools.

SaaS + Software Stats

• Median annual gross dollar churn was 8%, 7%, 6% and 8% in 2016, 2015, 2014 and 2013
• All types of investment have grown, year-on-year, with the biggest growth during the seed stage of financing
• The very best SaaS businesses have a negative revenue churn rate and will have a Revenue Retention Rate of greater than 100%
• Three uses for the SaaS Guidelines
• If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business; this will become a major drag on growth
• The average company gets 16% of new ACV sales from up-sells and expansions, though companies with revenue between $10MM-$40MM are relying more heavily on up-sell and expansions
• The median Customer Acquisition Cost (CAC) for upsells is just $0.28 per $1, less than a quarter of the $1.18 spent to acquire $1 of revenue from a new customer
• The 2015 median revenue growth rate was 44%, while the median projected growth rate for 2016 is 48%
• The very best SAAS companies keep monthly revenue churn at around 0.58%, that’s only about 7% revenue churn a year

Market Research Stats

• SAAS companies invest between 80% and 120% of their revenue in sales and marketing in the first 5 years of their existence
• Revenue Churn Rate = (RCR) (MRR at beginning of month – MRR at end of month) – MRR in upgrades during month / MRR at beginning of month
• In 2017, Foxconn Technology Group achieved a net income of 135.37 billion New Taiwanese dollars, the equivalent to approximately 4.55 billion U.S. dollars.
• The average SaaS business generates 16% of its new Annual Contract Value (ACV) from upselling to existing customers
• Internet sales-driven companies have a much greater reliance on marketing, with 65% of the median company’s CAC budget devoted to marketing
• Sony’s PlayStation brand had accumulated approximately 38.57 million fans on the social network
• The median Customer Acquisition Cost (CAC) for upsells is just $0.28 per $1, less than a quarter of the $1.18 spent to acquire $1 of revenue from a new customer
• 86% of SaaS businesses treat “New Customer Acquisition” as their highest growth priority, both in terms of executive support and funding available
• Over the past five years, the Global Biotechnology industry has grown by 2.0% to reach revenue of $301bn in 2019.