B2B Marketing Automation Industry Expected To Hit $1.2 Billion In 2014
Written by Tim Morral
Industry expansion and better technology are driving 60% growth in the B2B marketing automation industry this year, says industry analyst Raab Associates.
The B2B marketing automation industry is forecasted to achieve substantial 60% growth this year, with expected revenues expected to reach $1.2 billion, according to a recent study by Raab Associates.
Some of the factors that are driving growth in B2B marketing automation include:
- Advances in technology enabling automation in social, direct mail, SEO and paid search advertising.
- Improved integration with external systems using APIs and vendor-based integrations.
- Marketing services and support for marketing through channel partners.
"Revenues for B2B marketing automation vendors continue to grow as adoption increases and existing customers expand their systems," said study author, David Raab. "We also see continued extension into new industries, new features, and new vendor services."
Marketing automation tools are designed to help businesses of all shapes and sizes reduce repetitive tasks that can weigh down marketing processes. For small businesses interested in embracing new technology, marketing automation improves marketers' ability to define, schedule, segment and track specific marketing campaigns.
Citing research from the Aberdeen Group, the Marketing Automation Times has reported that companies that use marketing automation tools benefit from:
- 107% greater lead conversion rates
- 40% higher deal sizes
- 20% better team quota achievement
- 17% improved forecast accuracy
Although there are many different types of marketing automation tools on the market, some of the more popular solutions for small and medium-sized B2B businesses are:
- Pardot -- a marketing automation suite of solutions designed to help sales and marketing departments better manage online campaigns.
- InfusionSoft -- an email marketing and sales platform built for small businesses, providing an all-in-one automation solution combining email marketing, CRM and e-commerce.
- Marketo -- a straightforward marketing automation solution that assists marketers with email, social, analytics, lead management and other tasks.
- Hubspot -- a marketing solution for inbound leads, designed to help businesses attract, convert and close leads.
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