Return on Investment (ROI) is defined as the ratio of a return (benefit or net profit) over the investment of resources that generated this return. Both the return and the investment are typically expressed in monetary units, whereas the ROI is calculated as a percentage.
ROI formula: (Return – Investment)/Investment
It’s typically expressed as a percentage, so multiply your results by 100.
How Data Science Works
Data Science is essential in helping a business to continue to compete in the global market. To stay competitive, businesses will need to continue to find unique ways to collect data and analyze it to come up with strategies to increase their sales.
It uses predictive modeling, statistics, data preparation, and machine learning in order to investigate problems in a variety of fields, including risk management, agriculture, marketing analytics, and public policy.
Need of Marketing Automation Tools
Marketing automation tools has the ability to enlarge the value and impact of your content, capture lead intelligence, improve lead-to-sale conversion rates, drive repeat purchasing, and enhance the overall customer experience.
Campaign success can be measured based on lead conversions and ROI (return on investment). This well organized automated process allows your marketing team to focus on other high impact initiatives. And also allows you to automate your email marketing campaigns to nurture prospects with personalized and relevant information that helps convert them into customers.
How Marketing Tools Boost ROI
Tracking ROI can get difficult with complex marketing campaigns, but with a commitment and good reporting processes, you can build solid measurements, even if you have to use some estimates in the process. Use your ROI calculations to continually improve your campaigns, test new ways to raise your ROI and spend your money on the campaigns that produce the greatest return for your company.
Marketing tools are a good starting point when evaluating potential partners that can help, improve your marketing ROI and convey accurate reporting metrics that provide insight into the success of your marketing and sales campaigns, so that you can adapt programs quickly when necessary.
Here are top 5 marketing automation tools that leverage data science to boost ROI and for measuring marketing ROI:
It is extremely intuitive and easy to use. It has a simple platform that does not need a full time CRM manager. The ease of use and affordable cost are its biggest differentiators which make it “value for money” for SMBs.
It is all in one advanced marketing automation tool which offers A class landing page builder, email marketing, hundreds of ready-to-use email templates, auto responder, webinar tool and useful statistical analysis tools. It delivers excellent quality for online marketing solutions that empower entrepreneurs and make their businesses grow. It offers complete simple-yet-powerful solutions, e-commerce tools that help SMBs grow their sales, and scaled & customized for small and large companies, and has free and quick set up with automation expert advice. Its tools are designed for organizations that want to implement effective, high-impact campaigns that drive marketing ROI. The better your ROI the more confidently you can reinvest in your marketing to scale up your business and your profitability fast.
Getresponse leverages data science by making it easier for the user to create campaigns based on average email open rate and average CTR. It uses "website analytics" to measure your traffic and leads and compare different activities to optimize your marketing spending and get the most for your investment.
It's a top-to-bottom-of-the-funnel solution that puts every tool you need to power your marketing strategy in one place.It also provides a ROI calculator. This calculator simulates the potentialreturn on investment that you could realize by conducting inbound marketing.
Using Hubspot you can, show the ROI of your marketing with revenue reports, know which marketing efforts drive conversions with attribution reports, predict the leads that are most likely to close with predictive lead scoring, test different versions of your content to see what performs best with A/B testing. Hubspot uses data science concept in its tools like - “contact management” to manage your contacts, add company and contact records, log sales activities automatically, and easily keep your records up to date.
It provides marketing software platform that propels fast-growing small companies and global enterprises alike. It streamline marketing processes, delivers more campaigns, generates more win-ready leads and improves sales performance and prioritize based on prospect engagement.
It uses data science in its tool like “engagement engine” for engaging someone, “marketing nation” for encompassing its user community and annual summit, and “smart list” to help you find groups of people using filters.
Marketo has a native integration with Salesforce.com and natively integrates with Microsoft Dynamics CRM and SugarCRM. This bi-directional communication allows sales reps to get a clear picture of the leads in their pipeline. It can handle clients with a user base ranging from three users to more than a thousand users, but its price point makes it ideal for mid-market and enterprise organizations.
Infusionsoft’s CRM solution can help automate your sales and marketing management. This tool has features like automatic follow-up, lead scoring and an available e-commerce option, it has features you need to measure and track your marketing ROI and It leverages data science to - collect and analyze data about contacts' behaviors, score them based on marketing interactions, prioritize the leads that are hottest and ready to buy and Track.
Constant Contact offers attractive toolkit and it uses data mining and predictive analytics to optimize business around all phases of the customer lifecycle like acquisition, cross-sell / up sell, and retention through its reports like engagement rate, mobile open rate, contact growth report, revenue report and other high level stats. It allows marketing professionals to send and track beautiful email marketing campaigns with an upgraded version to tackle events, surveys, promotions, and reach your clients on Facebook.
You can enjoy a great return on your marketing investment when you adopt a marketing automation solution for your organization with operational efficiency. Getresponse has a simple platform that does not need a full CRM Manager like Hubspot and Marketo. It gives the competition to the acclaimed interface of the established leaders in the industry.
While Hubspot, Marketo and Infusionsoft are extremely well built systems and offer plethora of features to augment the ability of a marketing automation software. But to exploit its features, users have to pay a hefty price. That is why, GetResponse is natural choice for SMBs, which is time and cost effective and has most of features under one roof with the basic pack starting at $15/mo for 1000 subscribers.