To stand out from the competition in today’s competitive business environment, you need to take every advantage you can get.
A digital marketing strategy can boost your bottom line, as trends and research continue to show how consumers prefer multichannel marketing.
For the insider track on being successful with this approach, consider the following information about multichannel marketing.
The Facts
Consumers are increasingly turning to their smartphones and other digital devices for just about every area of life.
More than just a communication tool, people rely on internet connectivity to help them with making purchases, managing their finances, and finding out where they can get the best deal.
Understanding the market means knowing the consumer’s needs and wants, but also knowing the best way to reach them.
This means keeping up with them across multiple marketing channels. Knowing how multichannel marketing works should drive you to answers that can ultimately increase your return on investment with your marketing resources.
Diversify Your Marketing
When looking into multichannel statistics, you will find that the average digital consumer owns over three devices.
This means that each consumer has more than three ways to connect with your product and company, with each device potentially needing its own platform or apps.
Consumers choose a device based on preference and/or purpose, so your marketing strategy can’t afford to leave anybody or any device out.
A multichannel digital marketing plan will ensure that your content and ads are hitting more than just one device and a limited portion of an individual’s digital engagement.
Since 50% of Internet use is occurring through mobile connections, your priority should be crafting a plan that offers the most convenient interaction opportunities.
Increase Your Conversions
When you put multichannel marketing best practices in place, you will experience a higher engagement rate among your consumers.
Brand consultants are finding that over 72% of consumers prefer to connect with a brand through multiple channels.
Many multichannel business-to-consumer companies see around a 24% return on their marketing investment when compared to companies that rely on a single channel campaign.
When you can only reach a user through a desktop application, mobile device, email, or a social networking site, you are limited by time and space with your consumers.
Meeting them where they are and at a time that is convenient for them (either on a commute, in a waiting room, at a concert, or waiting for dinner to be served) increased the likelihood of converting leads or strengthening consumer engagement.
Pass Your Competition
You may think your price point is too steep to overcome the competition, but consumers don’t always rely on the price for their decision-making.
A recent Merkle report revealed that 66% of the 500 respondents care more about the consistency of a high-quality experience than the price of a product.
With a cleverly crafted content marketing approach, you can start the experience before a consumer ever sets foot in a physical location or clicks on the button “add to cart.”
Engaging your customers across different channels with different types of content addresses the uniqueness of each consumer.
This subtle move can establish a connection that often yields up to 500% improvement on the return of investment in advertising.
Save Your Resources
Marketing and acquisition strategies can take up a good portion of a company’s budget. Keeping things in check means devising a plan that lowers your customer acquisition costs without sacrificing gains in your customer base.
An optimized plan that is delivered across multiple channels and tailored to a target audience will see the most growth with the least cost.
According to 52% of multichannel marketers, financial targets are rarely left unmet. The right places, whether it be social marketing avenues or email updates, are the key to customer conversion.
Single Out Areas of Strength
Multichannel marketing allows you to narrow down what avenues are attracting the most customer engagement.
The information that you gain from tracking a multichannel campaign can help you narrow down which channels give you the most sales or engagement. This can make it easier to establish a focus for your next campaign.
To take your business to the next level, you must invest in a multichannel marketing plan. Grab your team and plan an approach that will generate more leads and increase earnings.
