Everything You Need To Know About Multi-Channel Marketing
Updated: Aug 12, 2021
What is multi-channel marketing?
Multi-channel marketing uses a mix of many distributions and promotional channels to communicate a product or service's unique value, taking advantage of the specific strengths of each channel. The ultimate goal of this strategy is to effectively attract valuable customers. The channels included are email, direct mail, websites, social media, display ads and retail stores. They enable customers to choose their preferred method of purchasing the product, while also increasing its promotional reach.
Why is multi-channel marketing important?
Nowadays, to be noticed on a market with infinite options, you have to be where your customers are. And, truth be told, they are everywhere. Studies show that multi-channel shoppers spend 3 times more than single-channel shoppers. Your campaign must be present on every platform customers use to interact with products and services found in the same category as yours.
Marketers don't have the same control over the buying process like customers do. Because the number and variety of communication channels have grown in the past years, customers now have more choices than ever on where to get their information and where to shop. This is why it is important to expand your reach and find the mix of channels your customers respond to best.
Benefits of Multi-Channel Marketing
1. Wider Audience
One of the biggest goals every modern business has is to attract as many customers as possible. This can be quite difficult to achieve if you're using single-channel marketing. If you're communicating with your audience only on Instagram, you miss out on an opportunity to reach out to customers who prefer Twitter, Facebook or other social media. Similarly, if the only option to buy your products is through in-store sales, you're neglecting thousands of other potential customers who will prefer ordering online, from the comfort of their own home.
Expanding your campaign to new channels can increase your exposure to potential customers that you wouldn't have reached otherwise. Using a single channel can limit you to a certain amount of customers. Marketing across different channels also allows you to reach users on their favourite channel, meaning that you're meeting customers where they are. Switching up between channels or trying new digital methods leads to a variety of targeted customers.
2. Increases Sales and Revenue
Multi-channel marketing can help businesses achieve financial success faster. As stated before, multi-channel customers spend much more than customers acquired via single-channel strategies. On top of that, multi-channel campaigns generate 24% more ROI than single-channel marketing. Businesses that take on this approach are giving customers more choices and are better at driving engagement on multiple platforms.
On that topic, we can also mention that multi-channel marketing allows businesses to connect with their customers at various stages of the customer's journey. It can help them identify the best moment to engage and convince customers to make a purchase.
3. Integrated Strategy
Multi-channel marketing results in a more cohesive strategy that takes customers from the top of the funnel to the bottom, achieving what both business owners and marketers want most: conversion. Putting out similar messages on multiple platforms creates a sense of unity and integrity, as well as drives new demand for your product or service. The more people know about your products, the more awareness you spread, increasing your chances of achieving conversions. Cross-promoting services on multiple channels widen your audience.
4. Stay Ahead of Your Competition
Using more than one channel makes it more likely for customers to know more about you rather than about your competitors. You will be where others are not. If your competition is not using a channel where you can find your audience, you will completely own that segment of the market. Multi-channel marketing also allows you to keep an eye on your competitors and monitor their activity. This way, you can improve your strategy. See what you can do better and how to capture your audience's interest first, before anyone else does.
Challenges to Prepare for
1. More Resources Needed
Creating content for many different platforms can have an impact on your marketing budget. As expected, it can also be a very time-consuming process, filling your team' schedule. At first, it can be quite disorganized, as it takes time to put together an effective strategy and get used to a different kind of content schedule. Because multi-channel users spend more, it is important to make sure you put together an effective strategy that can capture their attention.
Our team can help you put together a 360-marketing strategy. We act as an in-house marketing department, helping you and your partners develop strategic marketing plans and execute everyday campaigns and activities. It can be anything from managing Market Development Funds (MDFs), ensuring that they are being spent on the right activities to demand generation activity throughout the channel. Visit our website to schedule an appointment with our consultants.
2. Complicated Marketing Analitycs
The main characteristic of multi-channel marketing is that it offers customers the possibility to consume content across different channels. While this is a great opportunity for businesses to expand their audience, it can be difficult to tell which of these channels is most effective in getting customers to make purchases. As part of your budget, don't forget to include some funds for solid analytics that can help you measure customer behavior and habits. A better understanding of this could improve your strategy, helping marketers customize the content and choose the channels that suit your customers better.
3. Ever-changing Market
We live in a world defined by innovations, where businesses need to adapt to the market changes as fast as possible to avoid being left behind. Just a few years ago, marketers were learning to work with ad placement on Facebook. Now, they feel an urgent need to expand their efforts on various platforms, like Instagram, Twitter, Linkedin or TikTok. They need to master a new social media platform every year and keep up to date with the ever-changing algorithms, as well as groundbreaking innovations such as Smart TVs and location marketing. They need to constantly research upcoming channels and adapt their strategy to stay ahead of the competition.
Your campaign needs to keep up with trends and popular culture. Social media posts can attract a lot of attention today and be forgotten tomorrow. Not to mention that jumping on a trend that happened last week can make your business look bad. It is the marketer's job to make sure that your content is relevant and updated.
Consistency is important because your customers perceive your brand as a whole, whether their interactions with your brand are online, in-store or over the phone. Each channel is a distinct entity and marketers should make sure that all experiences with different channels go smoothly. Otherwise, you risk turning customers against you and losing their interest. Working with multiple platforms can make it quite challenging to keep the brand's message consistent across all of them. Each team should know exactly what they have to do, to ensure that your messages and themes are consistent.
How to create a multi-channel marketing strategy
Now that we know more about multi-channel marketing, it is time to briefly touch on how to put together an effective strategy.
1. Understand Your Buyer
First, you have to understand your buyer. Create personas using specifics about the ideal buyer. Put together enough information to build a clear image of your customers. It will help marketers select the most relevant channels for their audience, as well as set the tone for the messages you'll put out. Run tests on various platforms, play with different types of content, set timings and sequences to see what works best for your business.
2. Choose The Right Channels
You might think the best solution is to show up everywhere and see where you will be most successful. However, the reality is that being everywhere can lead nowhere. Each channel you use requires a large time and financial investment, as you need to work on strategies, produce content and pay for ads and sponsorships.
This is why it is important to decide which channels to focus on. There will be more channels that are relevant to you, based on your buyer and goals. Start with those and gradually expand your reach if you see good results. If your resources allow it, don't be afraid to experiment. You might be surprised to find out new channels that perform well.
3. Create Unified Messages
Getting multi-channel marketing right isn't just about spreading your messages on multiple platforms. It is also about creating unified experiences across all channels. If you don't put out cohesive messages on your channels, your audience might end up confused when switching from one platform to another. Make sure that your team understands both the persona and the messages that you want to want to send across.
4. Put Together Individual Strategies
While your messages must be consistent, each channel must have its unique strategy. If for Instagram visual content is more appreciated, the same cannot be said about Linkedin, which is an editorial platform and performs better with articles. With that being said, despite having similar messages, you should work on individual strategies for each channel and adapt your content accordingly.
When you are working with multiple channels, it can be quite challenging to keep up with all the trends and strategies each one imposes. We help our clients manage campaigns to discover and qualify customers for their businesses. These services can be highly beneficial in filling an organization’s sales pipeline and can be anything from running global marketing campaigns to campaign localisation, regional marketing approaches, or geographic market targeting.
MultiChanneLeads is a boutique strategic marketing consulting agency with international experience and a strong professional network. We offer a bespoke service to every one of our clients. From marketing and strategic planning development to defining strategic guidelines, or simply to enhance an already existing approach acting as an extension to your marketing team.
Reach out to your customers wherever they are - online or on-ground. Get in touch with us today at firstname.lastname@example.org.