June Service Spotlight: Omnichannel marketing
When it comes to deciding on the most appropriate marketing strategy for your campaign or company, we know it can become quite confusing.
Omnichannel or multi-channel?
There are so many different strategies out there, a lot of which sound extremely similar. An example of this is omnichannel marketing, often mixed up with multi-channel marketing.
Yes, both utilise the different media platforms and channels to reach audiences and connect with customers, but here is where the similarity ends.
15 years ago the average consumer typically used two touch-points when buying an item and only 7% regularly used more than four. Today consumers use an average of almost six touch-points with nearly 50% regularly using more than four
(Marketing Week, 2016)
While multi-channel marketing is essentially spreading your campaign across as many platforms as possible with a hope that this will increase your possibility of it being picked up on by your customer, omnichannel marketing focuses more on the messaging that is sent out and more importantly how it is heard by the customer. Being heard is not enough, engagement is crucial for creating the desired two-way dialogue and relationship you want with your customers.
Companies with extremely strong omnichannel customer engagement see a 9.5% year-over-year increase in annual revenue, compared to 3.4% for weak omnichannel companies. Similarly, strong omnichannel companies see a 7.5% year-over-year decrease in cost per contact, compared to a 0.2% year-over-year decrease for weak companies (Aberdeen Group).
Consistency, consistency, consistency
A primary factor in omnichannel marketing is consistency.
This strategy prioritises the customer’s experience, ensuring that the experience and messaging is the same for every customer across each channel; online, on mobile; in-store any anywhere else they could interact with you. This means making sure that every department of the business (PR, sales, marketing etc.) know what the message is and how to say it.
Of those companies identified by Aberdeen Group as being top-performers in omnichannel strategy, 85% conduct regular training of customer care agents in the handling of omnichannel communications, and 77% store customer contact data across multiple channels
If done correctly, this will create a heightened sense of familiarity and relationship with your company, leading to enhanced customer loyalty.
Emarsys revealed that businesses with a omnichannel customer experience strategy in place achieve a 91% higher year-over-year increase in customer retention rate on average compared to those without.
No effort required
The other core focus of omnichannel marketing is to make things as easy as possible for customers. What can your company do to remove the need for customers to put in any effort to connect with you? By using data, statistics and research you can determine exactly how best to achieve this, essentially giving them no good reason not to choose your brand.
What are you waiting for?
55% of companies still have no cross-channel strategy in place, with 64% of marketers citing a lack of resources and investment as their main barrier to doing so (CMO Club). Don’t let this stop you. Give us a call today to see how we can work together to ensure you’re reaching the right people in the right way for your business.
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