Multi-channel marketing – Make your strategies work harder for your business
Multichannel marketing is the technique of networking with your prospective customers. It helps you establish your presence in the market. The main objective of multichannel marketing is to elicit response from the customers by using various platforms and providing ease to the customers to buy from wherever they want.
For a product to reach at its apex point of sales, a market research should be carried out to know the demands of the customers. It should be backed by innovative ideas and a solid marketing plan.
With the evolution of technology and internet, there are many more options available than before and the best example is a mobile application. Also, the consumer now uses various modes rather than going to the store physically to make a purchase. The emerging technologies have created an altogether new realm of convenience of one point shopping and that too without actually going to the store to buy it. Anything you now want is just one touch away!
Why Multichannel Marketing?
The entire business depends its customer base. Without one, the survival of a business is almost impossible. It aims at reaching consumers through various means to build a wide range of potential customer base. This makes it to reach out to the customers needs. To achieve success, it is important to know the wants of the customer. Observation of each marketing platform, and continuous follow-up and review is necessary.
- Better results and sales: It increases the chances of feedback about the overall performance from the wide customer base as the communication and interaction is carried out via various communication platforms. The wants and demands of customer and the areas of improvement are highlighted with this feedback.
- Higher revenues: More and more customers could be reached by using diverse communication platforms. This diversity leads to more sales of goods and services and increase in revenues. If the brand is endorsed only on internet, it is less likely to reach the people who do not have access to it or who is not a frequent user. If it is only advertised on mobile applications, the people who do not own a smartphone could not be reached. Hence, usage of proper and diverse platforms is very much essential so as to reach out to wider range of customers.
- Understanding customers: The response and reaction of the customer, gives a better feedback about areas of improvement and knowing the customer’s expectations. It helps to come up with better products matching to the needs of the customer.
Simple hacks to establish a multichannel marketing platform
“Give a small boy a hammer, and he will find that everything he encounters needs pounding.” This same Law of the instrument applies to marketing and hence it is very important to establish an effective multichannel platform.
- Multichannel Campaign Management: It allows companies to communicate offers to consumers across social media, websites, direct mail, mobile and email. Digital marketing, which is always connected with campaign management, is crucial to increase the number of customers. It covers the marketing process through channels such as video, mobile, the web, social media and POS terminals.
- Advanced analytics: It is an independent analysis of data using advanced techniques typically to discover deeper understandings, make estimates, or generate endorsements. Advanced analytic techniques like data mining, forecasting, visualization, semantic analysis, graph analysis, sentiment analysis, grid and cluster analysis, statistics, simulation, event processing helps in knowing the needs of the users.
- Marketing mix: It facilitates marketers on maximizing returns on their marketing overheads by defining campaigns through numerous offline and online channels. When used together, Marketing Mix offers a precise outlook of past performance and a predictive tool-set that helps you forecast, plan and optimize
- Consistency: The quality of the customer service is very much important, but it is not enough. Consistency in delivering not just the same but better services is more important. A quality customer experience is one of the most powerful tool to beat the competitors. With a single transaction of even a nominal amount, the customer gets the experience of your whole brand. This maybe an online transaction, but it will leave them with a quality experience which will bring them back to you.
- Multichannel retailing: It is about selling through a range of non- integrated and independent channels. As a result, it does not provide a consistent customer experience. Integrating the various sales channels into a single channel is the next stage of retailing. Omni channel retailing uses offline channels and online channels to create a unique customer experience.
- Use tracking tools: Know about every single click, download and install of your customer. Some services allows companies to track every minute detail about their users. Do an in depth analysis on behaviors and online profiles of your users/customers. This data will provide you information about when to market and how we market. The more you know them, the better your products get marketed.