How Mid-Market Companies Can Increase Their Profitability

Roughly 80% of business leaders made the move towards improving the automation of many of their business practices. Done correctly, automation can increase productivity by as much as 14.5% while also reducing the cost of marketing by 12.2%. From marketing to sales, automation can increase your company’s profitability in almost every portion of your business by reducing workload on employees, creating seamless systems, and reducing unnecessary time and resource waste. Are you ready to join the future of business? We’re breaking down different ways you can use automation to increase profitability. 

Email and SMS Automation

Automating your email and SMS lets you stay on top of leads without spending hours of your time sending messages one by one. Chances are, you have hundreds of leads in your contact list, and it’s practically impossible to contact all of them manually. 

An automation system can be set to a scheduled basis, allowing you to send updates or reminders with very little effort. These automated messages can also be customized depending on the stage of the sale process, or based on actions they take. You can start by reminding them of their visit, thanking them for their patronage, offering vouchers, and so on. 

             Check out our full guide to SMS VS Email Marketing to find out the right solution for you

Customer Service

Automating your customer service is a great way to address the simple questions or common problems encountered by clients. You’ll notice how some pages have an automated response system that quickly provides a list of options to the client. You can choose if you want to ask about their operating hours, services, deliveries, products, and more. This helps narrow down the issues and provide satisfactory answers through an automated system alone. 

If the issue is too complicated, this is the time it reaches top-tier customer services where you can offer direct help. This helps limit the number of tickets you get every day and improves the quality of responses.

Financial Tasks

Automating the financial aspects of your operations can be done with the help of money or banking apps. It can be something as simple as automatically paying off the utilities, the rent, or other payables you have on your account. Interest can be a killer to the company overheadwhich is why paying on a timely basis is crucial if you don’t want any surprises. Monthly expenses that are more or less consistent can be placed on scheduled payments so you never have to worry about them. Your bank will simply debit the amount and send you a notification of the transaction. 

Invoice Reminders

Of course, automation can also be done for the other side of the accounting process. You need to stay on top of your receivables and send constant reminders to clients about their accounts in your business. Automating your invoice reminders can be as simple as getting a notification telling you when an account is past due. It can automatically count the days of delay and even count the interest rate from the time of delay. This lets you quickly draft a demand letter or personally contact the customer about their account. 

Some business owners even have automated emails instantly sent to the client as a reminder. No matter what method you choose, having a system dedicated solely to due receivables is important to maintaining operations.

Document Sharing

Documents are the lifeblood of business administration. All contracts, invoices, accounts, receipts, and correspondence should be kept safe for easy access of concerned persons. Nowadays, however, having hard copies of transactions isn’t enough. Almost everything is done through the internet, making it necessary to have an online storage system for documents. But who has time to upload them all into the cloud?

Automating your storage system is the next best thing. Software that quickly updates documents and makes them accessible to everyone in the same network reduces the work of moving paper around. Not only thatit also helps save on the cost of the paper itself! Additional security measures may be taken to help limit access to the files. For example, confidential information can be limited to certain individuals who have the passcode.

Welcomes and Reminders

You can also automate a large chunk of the human resources department tasks. Specifically, it could welcome new employees or even send out invites for open positions. You can also create a calendar for reminders about specific tasks like sending their tax documents, updating their timesheet, showing up during team buildings, reminders about holidays, and so on. 

This system basically handles the essential portion of human resources so that your HR people can focus on the more important things like payroll. This system can also extend to clients who are greeted with reminders about transactions. For example, a dentist’s office can automate reminders to tell clients that they have an appointment coming up or a sale reminder can be sent to potential customers for a retail store.

Social Media Scheduling

Social media is a crucial platform for enterprise marketing nowadays. You want to have a powerful presence on Facebook, Instagram, and other platforms because this is where most of your target audience is hanging out. 

Unfortunately, not all businesses have the manpower to have people constantly post and send replies on Facebook. An automated system helps you schedule posts for weeks or even months in advance. You can plan a whole marketing plan and program your page to upload at specific dates and times of the day. This keeps the presence up without eating up a chunk of your time.

Appointment and Meetings

Automate meetings and appointments within the workforce. This is a great system for secretaries, researchers, or paralegals in law firms who want to keep their bosses apprised of a full schedule. By automating these, they can quickly change calendars, edit diaries, and will need to do very little prodding to stay on schedule. It can also be utilized in practically any industry where big meetings and client conferences are a common thing.

Inventory

Automating inventory has been a fairly common approach for many businesses today. It may seem like a big job to completely revamp your system to include inventory but that’s not always the case. For small businesses, there are systems that are built to monitor inventories without being utterly expensive. The inventory system simply tells you what items came first, what items went out last, which ones need to be disposed of quickly, and so on. 

The beauty of having an automated inventory system is that you can look at your stocks and just know when it’s time to place an order. This also gives you the chance to quickly assess if you can fill in large orders or if there’s a need to start putting some items on sale. With a good inventory system, you’ll never be in danger of running out or having too muchboth of which can significantly impact your profit margin.

Online Forms

Forms are a great way for you to receive orders or get information from your target audience. Some businesses use forms as an order formallowing them to quickly get requests through a simple and systemized format. Others prefer to use them for reviews or feedback so they’ll know exactly what aspects need improvement. In any case, having online forms allows you to easily keep records, maintain orderly data, and beef up your presence even during closed hours. Customer feedback is the backbone of keeping customers happy and providing an enjoyable user experience, which makes online forms not only valuable as a time saver but also as a business-building tactic.

 

How to Implement Profitability Automation

Not all operations in enterprise marketing can be automated. Some functions still require the creative and critical thinking skills of industry experts. That is exactly where automation implementors and agencies come into effect.

With less time to worry about the routine, you’re in a position to focus on the really important aspects of your business, and streamline your services where you get the best ROI. Automation agencies provide a comprehensive look at your business practices, and pinpoint exactly where you can improve processes with automation- relieving the burden on internal staff to identify these areas of opportunity. Automation experts can then recommend specific strategies of implementation and begin the process. Because of their familiarity with the tools, systems, and apps, this can often speed up the onboarding automation process and reduce time and cost waste trying to find the best solutions internally or hiring an internal resource. Agencies exist to make the process streamlined, functional, and successful.

Anticipated Digital is a HubSpot Platinum Solutions Partner, and is a leading automation agency that specializes in automation implementation 

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