In 2020 the average person is expected to have 6.58 network connected devices. A connected device could be your phone, laptop, health and fitness monitor, household appliance, or virtual assistants like Amazon Alexa. With people engaging with that many devices and media platforms, it’s become increasingly important to connect with them across multiple channels. Today’s users are no longer digitally static on a single desktop, which means marketers must consider each device and unique online behavior of their audience. This can be an extremely daunting task, but it is also why multichannel marketing is so important.
Benefits of Multichannel Marketing
1. Drives more sales
Multichannel marketing has shown to be more effective than siloed efforts. By reaching consumers across multiple platforms, you are gaining more opportunities to connect with your target audience in various stages of the buying process, while using their preferred channel of communication, resulting in more sales.
2. Increase your customer base and lower your acquisition costs
Through the use of multichannel marketing, marketers have seen overall customer satisfaction and loyalty increase. By keeping their customers happy and continually staying top-of-mind, companies that use multichannel marketing are able to keep customers longer and lower their acquisition costs.
3. Enables you to communicate with customers at the right time and place
Marketers have struggled to know what stage in the buying journey their audience is in. By creating various messaging in several mediums, businesses can provide several options for consumers to determine for themselves where they are in the buying process.
4. Ability to quickly adjust based on demand
With the use of both real-time and long-term channels, marketers have several data sources for monitoring trends to make insightful decisions for the business going forward. Those changes can then be tested through digital channels before adjusting their entire approach.
5. More frequent interaction with your audience
The number of touchpoints and online technology that is available to us is increasing every year. As technology improves, the opportunity for businesses to connect with consumers through those channels increases. By utilizing the channels that are available to them, businesses can get in front of their customers more frequently.
6. Improved data collection
Data is provided through multiple channels, both online and offline. By analyzing the behavior of customers through every tactic used in a multichannel campaign, companies are able to start mapping customer journeys and ultimately better understand their customers. Digital tools that have sophisticated measurement systems allow us to capture behaviors and data sets that just weren’t available to us several years ago. Technology like AI (artificial intelligence) provides us with simplified methods of looking at data that saves time and money.
7. Improved retargeting capabilities
Customers are no longer just a name in a massive database. Audiences can now be segmented based on behavior and demographic information to create a message that is personalized specifically for them. By considering the actions of your audience, you can determine what channel and communication style will be best for retargeting to already engaged users.
How Do Marketers Feel About Multichannel Marketing?
95% of marketers say they know how important multichannel marketing is for targeting. While it is clear that multichannel marketing is widely accepted, there is also data that shows marketers are having difficulties implementing successful campaigns. Only 14% of organization say they are currently running coordinated marketing campaigns. They are also having trouble gaining support to run these campaigns, which includes investment in technology. As little as 16% of marketers say their marketing technology strategies are actually aligned with their business strategies. In addition to this, 67% of marketers say their biggest barrier to implementing a multichannel marketing campaign is lack of resources or investment.
Common Marketing Channels
- Paid Marketing Channels: online streaming ads (e.g. Hulu), paid search ads, display ads, social ads, influencer marketing, email, retargeting ads, video promos, paid content promotion, voice optimized advertising, SMS
- Offline Marketing Channels: direct mail, brochures, signage, interactive displays, customer loyalty programs, giveaways, promotions, packaging, tradeshows/expos, community involvement, radio/tv ads, word-of-mouth, billboards
- Free Online Marketing Channels: website, SEO, newsletters, live/bot chats, podcasts, webinars, blogging, whitepapers, SEM, Google My Business, Yelp/Google Reviews, live videos, online forums, content marketing, referrals and backlinks
- Social Media Channels: Facebook, Instagram, LinkedIn, Twitter, YouTube, TikTok, Pinterest, Tumblr, Flickr, Reddit, Snapchat, Quora, Nextdoor, etc.
- Public Relations Channels: press releases, media interviews, sponsorship, speaking events, conferences, hosted events, guest blogging/speaking
The Importance of Using Several Marketing Channels
While it might be tempting to focus solely on paid or social channels, it is important to keep a healthy mix of both online and offline channels when developing your multichannel strategy. Studies have shown that it’s easier for the brain to process information and take action when it is in a physical format. That’s why we recommend including direct mail with any program. With the advancements that we’ve seen in technology over the years, direct mail has never been as customizable, trackable, and adaptable as it currently is. We’ve seen a strong shift towards smaller more targeted runs that include personalization and tailored messaging so you can communicate with your audience on a 1:1 level. It can also integrate easily with digital platforms, to create a cohesive program with each piece working together to drive results.
While in theory, multichannel marketing seems like a simple concept, many marketers fail to successfully implement a multichannel program. In fact, only 30% of marketers are highly confident in their ability to deliver multichannel strategy. That’s why it’s so crucial to have a partner that understands and has experience working with multichannel programs in various industries. To start the conversation and see how your business could benefit from working with us, contact us here.