19 Mar Driving Sales with Multi-Channel Marketing
Print catalogs, websites, email campaigns, digital opt-ins for print mailings… with so many options, how do you decide which marketing platform is best for your business? Increasingly, statistics show that the answer isn’t any particular one of the above, but the strategically orchestrated combination of some or all of the above known as multi-channel marketing.
What is multi-channel marketing?
Multi-channel marketing is a dynamic and customer-centric approach to marketing that employs a combination of direct and indirect channels to create multiple but consistent points of access for today’s customer.
Google research indicates that 98% of Americans switch between devices daily, starting work—or a shopping experience—one place and finishing it in another. The modern customer also values independence and choice, often seeking to become knowledgeable about a product before ever initiating a conversation with a salesperson, let alone a purchase.
Multi-channel marketing takes all of this into account, and builds customer attraction, engagement, and conversion by creating an experience that is more like a journey with multiple touch points than a single interaction. Think of it this way: destination A is accessible by a highway with one on-ramp; destination B is accessible by a highway with six on-ramps. Which destination will attract a greater crowd?
The point of multi-channel marketing is to create more on-ramps, increasing the likelihood customers will end up at your destination. To that end it relies -a research-based profile of who your customer is, including purchasing patterns— to tailor the selected channels for customer convenience and preference. Most importantly, it puts the customer in the driver’s seat, giving them the choice of how and when they wish to receive and act on marketing materials.
What are the benefits of multi-channel marketing?
Multi-channel marketing fosters a relationship with customers that is unique, multi-faceted, and consistent, keeping your brand and products top of mind while giving customers control over their shopping experience. This approach has been shown to deliver a measurable return on investment:
- As early as 2013, Gartner Research forecasted that campaigns integrating four or more digital channels will outperform single- or dual-channel campaigns by 300%.
- A study by the Aberdeen Group indicates that companies with a very strong multi-channel marketing strategy maintained an average of 89% customer retention, as opposed to 33% for companies relying on one or two channels. They also enjoyed a 9.5% increase in annual revenue, compared with 3.4%.
- Interestingly, the same study showed that over time, cost per contact actually decreased at a faster rate for organizations embracing multi-channel marketing: 7.5% annually as opposed to 0.2% for organizations only employing single-channel or dual-channel strategies.
- Marketing Week reports that the number of touch points the average consumer uses when purchasing a product has grown from two to six.
It’s clear that customers are already multi-channel. The best marketing strategies will follow and capitalize on consumer behavior, creating an approach to marketing that is consistent, customer-friendly, accessible from everywhere, and personalized to individual consumer preferences.
Illustrated Designs, Inc. has been at the forefront of the marketing industry for 30+ years. From design to execution, their innovative design team develops catalogs, event décor, printed materials, 3-D displays, and more.