There are about five components of enterprise sales marketing automation. They are as follows:
Promotions: These are the activities undertaken by an organization to increase their sales. Promotions can be categorized as cross-selling or up-selling. In cross-selling, customers are offered similar products to one they have already bought.
The aim of cross-selling is to satisfy all the customer requirements. In upselling customer are offered expensive product as well as an upgrade to the existing products. Upselling is more profitable, and it is in a top-up of existing sale.
This involves registering customers for the seminar and in case of webcast via the Internet. Companies look forward to sponsoring events and include their products as part of the marketing event.
Loyalty and Loyalty Programs
Loyalty is defined as the continued commitment of a customer to a particular product, brand or organization. The customer tends to maintain their loyalty if companies provide value to them and/or it is much expensive to change product brand or organization.
It is a marketing campaign organization joins hands to promote their and partner’s products. This could also be referred to as joint promotion.
This gives flexibility in marketing campaigns based upon the initial reaction from the customer. It is response management in real-time.
The Role of Market Segmentation in Enterprise Marketing Automation
Market segmentation is the process of identifying smaller markets that exist within a larger market. These groups are called market segments. Market segmentation helps marketer develop marketing mixes for individual segments. Market segmentation helps marketers develop marketing mixes that are more specially tailored to the characteristics and wants of people of the segments that are identified and selected as target markets.
Market segmentation breaks the larger heterogeneous market into smaller homogenous markets. The elements of each smaller segment are more similar in terms of wants, needs and behaviour than the total market. It is a separate marketing program is developed to best match each segment, individual needs and wants.
Segmentation isolates consumers with similar lifestyles, needs and the likes and increases our knowledge of their specific requirements. The more marketers establish this common ground with consumers, the more effective they will be in assessing these requirements in their communication programs and informing and/or persuading potential consumers that the product or service offering will meet their needs
Segmenters aim at one or more homogeneous segments and try to develop a different marketing mix for each segment, segmenters may make more basic changes in marketing mixes, perhaps in the product itself because they are aiming at smaller target markets.
The Purpose of Segmentation in Internet Marketing Automation
Market segmentation is a customer-oriented philosophy we first identify the needs of customers within a segment and then satisfy those needs in the realm of internet marketing automation.
Benefits offered by segmentation can be summarized as follows:
- By developing a strong position in specialized market segments, medium-sized firms can achieve a rapid growth rate.
- By tailoring the marketing programs to individual market segments, a marketer can do a better marketing job and make more efficient use of marketing resources.
- People awareness is increasing concerning their preferences. In these circumstances, the marketer must segment and then try to fulfil the needs of the segment.
- It helps in determining the kinds of promotional devices that are effective and also helps to evaluate their results.
- Appropriate decision making, relating to introducing new products, promotion, distribution, pricing could be easily taken.