Raab Associates Inc. released a new report based on their B2B Marketing Automation Vendor Selection Tool (VEST) that claims that marketing automation industry will grow 60% in 2014, making it worth $1.2 billion. This comes as a benefit for both vendors and B2B marketers, as more options allow for the best experience, and a growing demand helps vendors continue to improve their products.
In a press release on the findings, VEST creator David M. Raab stated: “Revenues for B2B marketing automation vendors continue to grow as adoption increases and existing customers expand their systems … We also see continued extension into new industries, new features, and new vendor services.”
B2B marketing automation allows companies to create highly personalized email and online campaigns to nurture leads without having to manually write every email or update. It also allows companies to track their results and leads as they make their way through the automation campaign touch points that have been set up.
As detailed in a recent column on Search Engine Land, marketing automation systems revenue grew to $525 million in 2012 — over 60% year-over-year and 160% since 2011, this also according to David Raab Associates.
Although marketing automation focuses mainly on email, several platforms are also integrating social media, content, and more into campaigns in order to get create more variety and to reach leads through a variety of different mediums. This also allows marketers to see their efforts at a higher level to determine what is working best for them.
Examples of popular B2B marketing vendors include Hubspot, Marketo, Silverpop, LeadFormix, InfusionSoft, and others. Companies choose the right tool for them based on price, options, available integrations, and user experience.