Okay, so what is it?
Refers to software platforms and technologies designed for marketing departments and organizations to more effectively market on multiple channels online (such as email, social media, websites, etc.) and automate repetitive tasks.
Marketing Automation is a subset of customer relationship management (CRM) that focuses on the definition, segmentation, scheduling and tracking of marketing campaigns. The use of marketing automation makes processes that would otherwise have been performed manually much more efficient and makes new processes possible.
From Wikipedia: Has a focus on moving leads from the top of the marketing funnel through to becoming sales-ready leads at the bottom of the funnel. Prospects are scored, based on their activities, and receive targeted content and messaging, thus nurturing them from first interest through to a sale. Commonly used in business-to-business (B2B), business-to-government (B2G), or longer sales cycle business-to-consumer (B2C) sales cycles, Marketing Automation involves multiple areas of marketing and is really the marriage of email marketing technology coupled with a structured sales process.
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