What is a Multichannel Marketing Strategy?
Multichannel marketing is an approach in which different channels of communication are used to attract customers. In this method, the value and strengths of your product or services are communicated to your target audience through various marketing channels. It includes direct and indirect communication channels such as emails, websites, catalogs, blogs, and television, etc. Having a multiple-channel approach can help you to highlight yourself in your customer’s eyes. The more you are visible the more people tend to believe you.
Benefits of Multichannel Marketing
Multichannel marketing is a new approach taken by the B2B marketers for amplifying their marketing effects. A multichannel marketing plan has many potential benefits which we will tell you below.
1. Broader Reach
While a single marketing channel has a limited reach, using multiple channels can give you a larger reach. When B2B Marketers use different channels for marketing they are able to increase their potential reach. Sometimes what happens is, a person might be using only one marketing channel and not the others. This way you can reach different audiences on different platforms.
2. Better Engagement
When you increase the number of marketing channels people will inevitably see you more. The more people become aware of your brand, they are more likely to prefer it. Having multiple touchpoints for the customers to communicate with you enhances credibility and gets you better engagement.
3. Reach Customers On Their Preferred Channel
These days people are very active and they use different channels according to their convenience. You cannot expect or wait for the customers to reach your brand. Instead, you have to find ways to reach your customers effectively. If you have multiple channels then you can reach out to the customers on their preferred channel.
People tend to believe in different marketing channels based on the stage of the buying journey at which they are. For example, a customer who just has a bit of interest in your product or service might look up your television ad. While the customer who is on the verge of making a purchase would want to see detailed reviews about your brand online.
4. Multiple Channels For Marketing Reap Better Results
Multichannel marketing strategy is a tried and tested one by the B2B Marketers. When marketers create a strategy that involves different channels it creates more impact on customers. A mix and match of different channels and messages help to create an effective marketing campaign.
According to the Nielsen research, it has been found that campaigns with touchpoints across television and Facebook experience a 12 point increase in brand recall compared to the campaigns that took place on a single channel. The reason being the fact that social media reinforces and hammers your marketing messages by reaching the customers on a frequent basis.
Steps To Create A Successful Multi-channel Marketing Campaign
Creating a multichannel marketing campaign is more jumbling than creating a single-channel marketing campaign. Well, we will guide you step by step to create a successful multichannel marketing campaign.
1. Identify your Ideal Customer Profile
The foremost important step of your marketing strategy should be to identify the Ideal Customer Profile and buyers persona. Having a defined buyer persona with their key attributes and characteristics is vital.
Having this information will help you to choose the right marketing channels for your campaign. Once you know who your target market is you can focus your efforts and tone of messaging according to that.
2. Pick up the right channels
Doing multichannel marketing requires a lot of monetary investment. However, if you are not doing the investment in the right direction then you are just wasting your money. Before implementing your multichannel marketing strategy you must research and see what channels would work best for you.
You must select the channels according to your service and target market. Look out for the channels where your target audience is most active and you can meet your set goals. Afterward, as per the success of an individual channel, you can consider investing more or less in it.
3. Create a Singular message
Creating a unique and single message is crucial. When switching from one platform to another it is common for people to get confused about your brand. The best way to keep your audience reminded of your brand is to craft a singular and unique brand message.
The multichannel marketing campaign teams should coordinate with each other to ensure that each channel gives out a common message. This way you will not only create your unique brand identity but people will also remember your brand.
4. Strategize According To Each Channel
You can’t do the same content for every channel and expect outstanding results. You need to analyze and see what type of content strategy works best for that particular channel. For example, Instagram is a visual channel so you can post creative images and videos over there whereas LinkedIn is a more professional channel and you can post informative and educative blogs over there.
Having a single message doesn’t mean that you have to put on the same content everywhere. You need to strategize differently for each channel and see what type of content is getting the maximum response.
5. Integrate The Experience Across Different Channels
Oftentimes what happens is that the B2B marketers use multiple channels for marketing but forget to integrate them. Having multichannel for marketing won’t work well if they are not harmonized and don’t link to each other.
If a customer moves across all these different channels then your strategy needs to adjust accordingly. Your integration strategy must include a common inbox to track customers engagement and communication across all channels.
6. Utilize Marketing Automation Tools
In multichannel marketing tactics, it is vital to utilize marketing automation tools. It can help you to better track the interactions and engagement of your customers. You can also use CRM to store information such as page visits, CTA clicks and opened emails, etc. Using marketing automation tools can help you to analyze better and make the right decisions.
7. Plan For Measuring Attribution
Evaluate and analyze how your multichannel marketing strategy is working. Regular analysis helps you to determine which channels are working effectively and which channels you can eliminate. You can consider different attribution models according to your multichannel marketing campaign performance. The main attribution models are mentioned below:
- Linear Attribution Model: Giving attribution to all touchpoints equally and not taking into account influence.
- Position-based Model: Giving attribution to the touchpoints of the certain stages of the life cycle of the lead.
- Time Decay Model: Giving attribution to the recent touchpoints.
8. Retargeting Customers
Retargeting customers is a form of advertising which targets the bounced visitors of your website on other platforms. By showing up in different other websites on which your visitors are surfing you can drive traffic to your website.
The main purpose of multichannel marketing campaigns is to bring traffic to your website and generate leads. After generating leads the aim is to start connecting with potential buyers. Multichannel marketing strategy helps to amplify the effect of inbound marketing.
Difference Between Multichannel Marketing and Cross Channel Marketing
Multichannel Marketing focuses on communicating with customers on different channels with a singular message. The best traits of each of these channels are used to maximize the impact together. However, with a multichannel marketing strategy, it becomes difficult to keep up with the pace of an individual buyer’s journey. For example, A buyer who might be close to making a decision might receive a flyer outside a mall.
Cross channel Marketing is a more advanced approach. In this, the next message that the customer receives is based on the customer’s previous behavior. It requires more in-depth understanding and research on a customer’s behavior. You need to incorporate a marketing analytics platform to analyze multiple customer segments across different channels. This way you can determine which will be the next ad placement. Cross channel marketing is a more dynamic marketing campaign that aims at delivering the right messages on the right channels.
The Bottom Line…
A multichannel marketing strategy is very effective as it combines various platforms so as to amplify the reach and frequency. One channel is often not enough as it tends to be tedious and targets the same customer. Multichannel marketing campaigns utilize various channels to spread the same message. This creates a more comprehensive impact and gives multiple touchpoints for the brand to interact with customers.