The explosion of digital advertising allowed marketers to reach more people with greater targeting and better ROI. Now, as consumers use digital products for more and more daily activities, those benefits have only increased. At its core, multichannel marketing is the blending of different marketing efforts and channels and is about reaching out to customers wherever they may be.
Multichannel Marketing and Its Benefits
Gone are the days when you could run an ad on the TV and reach most households in America. This means that effective advertising is now affordable for small businesses. Businesses of all sizes benefit because TV ads are not highly targeted, and you reach your potential customers when they are least likely to make a purchase.
Consumers spend all day interacting with mobile phones, apps, websites, streaming video services, email, and more. But not everyone interacts with all of those things. Multichannel marketing ensures you reach your customers where they want to be born.
Successful multichannel marketing is about more than just throwing out ads on different platforms. The real strength of multichannel marketing comes with expert coordination of all those platforms as a single campaign. This will allow more meaningful data to be collected and establish a powerfully consistent brand identity that your customers will remember.
Now that we’ve given an overview of multichannel marketing let’s take a deeper look at the benefits that an excellent multichannel strategy can bring to your business and how to implement them.
- Increases sales – The marketing goal is to increase sales, so this benefit goes to the top. Multichannel marketing helps ensure no potential customer is missed because your ads aren’t on the channels they use frequently. When customers use multiple channels, seeing your ads across them helps build brand awareness. Data shows that customers obtained through a multichannel marketing campaign buy more frequently and spend more than do customers from traditional campaigns.
- Faster and better ROI – When each customer acquired through a campaign buys more and spends more, you can spend less to get the same results. The multiplication of sales that multichannel marketing brings to your campaign means that your existing advertising budget can be stretched much further than before.
- More cost-effective – The cost-effectiveness of multichannel goes beyond bringing in more customers. By leveraging every channel your customers use and intelligent use of their targeting tools, you can find which avenues provide the best cost-per-acquisition and focus more of your money on them. With diligent monitoring, your ad spends can always match up with which platforms will bring you the most money at any given time.
- Frequent and interactive engagement with audiences – Customer feedback has always been a massive part of the business world. We no longer need to rely on suggestion boxes that consumers drive down to the store and put a card into. Social media has opened up the world of direct and nearly immediate communication with customers. Unlike your suggestion box or support line, customers are already on social media. Seeing your content will keep your company fresh in their minds and give them the most frictionless way to provide feedback.
- Better data collection and analysis – Targeted ads, personalized marketing, marketing automation: These are all fantastic tools at the disposal of modern businesses. But all of them rely on big data to be at their most effective. Having your marketing across multiple channels gives you access to data about all aspects of a customer’s life. This will allow you to predict better the types of products they might want and when they might be most open to purchasing them.
- Retargeting and remarketing – These two similar concepts both remind a customer about a product they have viewed on your site but not purchased. By reminding them of the item, they hope to be prompted to make a purchase. The decision of which things to remind them of and when to remind them can be improved using the data collection we discussed previously. But the real benefit here is that you’ll be able to remind them about the product across all the channels they visit.
The Psychology of Multichannel Marketing Strategy
We’ve all heard that pricing an item at $9.99 instead of $10 will trick people into thinking that it is less expensive than it is. Similarly, multichannel marketing strategies example is placing items at the checkout lane will significantly increase the likelihood of an impulse buy. Marketers have been using psychology-backed techniques to sell products for decades. The age of big data and multichannel exposure allows us to take psychological insights further. Here are some examples of multichannel marketing relevant tips to maximize a multichannel campaign:
- Humans are social creatures – If we see that our friends are doing something, we are likely to do it too. This is what makes social media so powerful for marketers. Giving your customers the chance to share their experience, their purchases, or simply a social media post from you with their friends signals those social instincts. By reaching across as many social media channels as possible and encouraging customers to share, you can also convert their friends into customers.
- A picture is worth 1000 words – Images beat text for marketers in two ways. First, they are more easily remembered than text. An image will stay fresh in the viewer’s mind long after a reader has forgotten what the text they read said. Secondly, they allow you to draw the viewer’s attention where you want it to be.
- The first exposure sets the standard – If you are the first exposure a potential customer has to a given product or service, then you will set the standard by which they judge your competitors. Therefore, you must put your best foot forward and highlight the most competitive aspects of your business. This ensures that it will go in your favor when the comparison happens.
At Phi Web Studio, we know the psychology of sales and can put it to work for you. Here is a list of Multichannel marketing campaigns.
Google ads are cheap, meaning anyone can put some money in their account and start advertising in Google search results and across the Google ad network. This is good from an affordability standpoint, but it does mean that there is a lot of competition for clicks. Thankfully, a well-managed campaign can cut through the competition.
Google PPC sells ad space by having advertisers bid on keywords. The more popular a keyword, the more expensive it will be to get Google to show your ad in the top spot. Finding relevant keywords that drive the right customers to your site while at the same time keeping costs under control is a big part of the skill that a professional marketer brings to a Google PPC ad campaign.
The second major part of an ad campaign is seeing which ad materials bring in the most revenue. Finding the balance between finding the right keywords and continuously tweaking ad copy to ensure maximum conversions is a full-time job. This is where having a dedicated and professional digital marketing agency on your team helps.
Facebook and Instagram
Facebook collects more data about a person than their best friends know about them. This makes it a fantastic opportunity for digital marketers to place highly targeted ads. On Facebook, the key to success is getting into the psyche of your customers so that you can target them as closely as possible. This ensures that every dollar you spend shows your ads to someone who may purchase your product.
Crafting and testing ad copy is just as important on Facebook as on Google. It is arguably more important. Since Facebook is a social media site, good ad copy can get your customers talking about and sharing your product with their friends. This further expands your reach without costing a penny extra.
Facebook owns Instagram, so the data collected is the same. However, there’s a different flow to how ads interact on Instagram since that platform is primarily based on pictures instead of text. It takes an expert marketer to know how to capitalize on the differences between the two platforms and to keep up with the ever-changing rules placed on advertisers.
Organic search results are the best way to bring visitors to your site. But obtaining and maintaining a top search rank is also a full-time job. Search engines routinely change their algorithms to provide more meaningful results to their users and to thwart those who have learned how to abuse the previous algorithms. Failure to stay on top of a change and adapt quickly can result in a massive loss of search rank.
From your multichannel marketing mix to your meta-tags to analyzing each page’s performance in analytics, SEO that keeps your site ranking high requires a dedicated marketing team that can tweak your SEO. At the same time, you are busy running your business. At Phi Web Studio, it is our job to stay on top of search engine algorithm changes so that you don’t have to. You can be assured that our expert staff will react quickly to any changes, so you don’t lose the high rankings that you’ve achieved.