What is multichannel marketing and why is it important?
As you plan your marketing strategy for the coming year, here’s something to know: There is a 23% increase in customer satisfaction when you use multichannel marketing. Also, 50% of marketers met their financial goals when they implemented multichannel marketing strategies. So, what is multichannel marketing?
As the name suggests, it involves using numerous channels available to you to promote and market your products or services. These channels range from e-mail, text messages, social media, blogs, and, of course, your company website. Your choice of channels depends on your target audience and their preferences. It creates a win-win scenario for your business, as well as your customer who can choose to interact with you on a platform of their choice. So, take a closer look at how investing in multichannel marketing will serve your business well.
1. Amplify brand awareness
The first obvious benefit is that the more channels you market on, the more people you’re exposing to your core offering. As a result, you’re able to build brand awareness quicker and more efficiently.
2. Build brand recall
Apart from exposing a larger audience to your brand, multichannel marketing also helps you be visible on all of the various platforms that your audience is present on. This goes a long way in building brand association and recall.
A customer might receive a text message, an e-mail, and a notification for a blog in the span of a week. This will help cement your brand in the customer’s mind and nurture purchase intent as well. When they’re ready to make a purchase, they’re more likely to choose you over the competition, because you are fresh in their memory. On the other hand, if they’re existing customers, they’re more likely to make a repeat purchase.
3. Market economically
Making use of all available channels to promote your company’s offerings may seem like an expensive undertaking, but it doesn’t have to be. Ultimately, it all boils down to the mix you choose. For instance, social media channels are a low-cost, yet high-impact option. You can reach out to prospective clients effectively, steer purchase intent, gather insights and feedback, as well as build lasting customer relationships.
4. Speeds up sales
A potential lead interacts with your company about 35 times before they approach you. This is a big number. Marketing across multiple channels ensures that the awaited interaction happens sooner. Since the customer is getting information about your brand from various channels, they are more likely to interact with you sooner rather than later, and make a purchase too.
5. Engage meaningfully
When you market via various channels, you will have a plethora of data regarding what’s working, what is not, and how your brand is being perceived. You can use this to determine how best to communicate with your target audience. In other words, you’ll know exactly what your audience is expecting and be able to align your communication closely to their expectations.
The exciting aspect of doing business today is that you have a range of opportunities and tools at your disposal to build relations with customers, while also boosting sales in an unprecedented manner. Multichannel marketing is one such tool. So, why not join one of the many organizations who have successfully used multichannel marketing to yield a multifold improvement in ROI?