The creation and full utilization of the internet by the general public opened a door for retail stores everywhere: online marketing and sales.
In today’s world, so many years later, there’s a multitude of platforms to sell your products and gain new customers every day. So which platforms should you be using? Which platforms work best for your customers?
That’s where multichannel marketing can help, a type of creative marketing services.
What Is Multichannel Marketing?
Multichannel marketing is exactly what it sounds like: selling your product or services on a multitude of channels.
Now this doesn’t mean every single one. It just means the key three or four that bring in the highest numbers for your company and churn out the best results in traffic, sales and engagement.
The perk of multichannel marketing is that it is able to guide a new customer through different channels to complete the buying process. For example, if a customer sees something they like on Instagram, they can click on that product and it will take them to the website link to continue shopping. Another example would be direct mail marketing, through email, where the customer can follow a link to the website to shop.
Social media is an incredibly powerful marketing tool, and every business should use at least one social media platform in their multichannel marketing strategy. With almost 3 billion people using social media every day, it would be a huge missed opportunity if a business chose not to get in on the lucrative social media marketing situation.
The Impact of Multichannel Marketing
So how do you figure out the best multi-channel marketing strategy for your business? Set up a strategy and try it out. Figure out different platforms that work the best for your company and come down to the best three or four to use.
Now because multichannel marketing campaigns are more effective than single-channel campaigns, they are more work too. Check out these multichannel marketing statistics, which can keep you motivated to “channel” your way to success.
1. Two-thirds of shoppers use more than one channel.
This data comes from the Wharton School of Business, which found that multichannel shopping is the norm for most consumers. Its research found that one-third of shoppers alternate between two channels, and another one-third use three channels or more. Only one out of three shoppers consistently use a single channel.
Takeaway: Your brand must be presented consistently across all channels, including direct mail, email and mobile, and the shopping experience must be seamless across all of them.
2. Customers who shop on more than one channel have a 30 percent higher customer lifetime value (CLV) than those who use a single channel.
At times it may feel as though keeping track of all of these channels is useless or not working in the beginning, but if you stick to it, it will pay off in the end. Customers like seeing a company that understands that online shopping isn’t just done through the internet anymore.
Takeaway: Investing in a consistent multichannel customer experience takes more time and investment, but it is worth it—really worth it!
3. Only 5 percent of marketers say they are “very much set up to effectively orchestrate cross-channel marketing activities.”
Most marketers aren’t prepared to handle a multichannel environment, so you stand out when you do this well. Econsultancy finds that while more than two-thirds of companies place a priority on integrating marketing activities across channels, only 39 percent say they understand customer journeys and adapt the channel mix accordingly.
Takeaway: Let us help!
You are great at what you do, and you understand your customers better than anyone else. But nobody can be an expert at everything all the time. Before you plan your next multichannel marketing campaign, give one of our business development experts a call here at PMI. We can help you kick off a great campaign that will keep your customers coming back.