Multichannel marketing
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Multichannel marketingis the blending of different distribution and promotional channels for the purpose ofmarketing.Distribution channelsinclude a retail storefront, a website, or a mail-order catalogue.
Multichannel marketing is about choice.[1]The objective of the companies doing the marketing is to make it easy for a consumer to buy from them in whatever way is most appropriate.[2]
To be effective, multichannel marketing needs to be supported by goodsupply chain managementsystems, so that the details and prices of goods on offer are consistent across the different channels. It might also be supported by a detailed analysis of thereturn on investmentfrom each different channel, measured in terms of customer response and conversion of sales. The contribution each channel delivers to sales can be assessed viaMarketing Mix Modelingorattribution modelling.Some companies target certain channels at different demographicsegmentsof the market or at differentsocio-economic groupsof consumers.
Multichannel marketing allows the retail merchant to reach its prospective or current customer through a channel of his/ her liking.[3]
Coordination of online and offline channels
[edit]Companies that sell branded products and services through local businesses market through both online and offline channels to local audiences. Online and offline multichannelmarketing campaignscan either inform one another or be executed in isolation. A proportion of companies use their online marketing efforts to inform their offline advertising (i.e. they test keywords online to understand if they fit with customer intent before printing them in offline ads).
Comparison with traditional forms of marketing
[edit]While multichannel marketing focuses primarily onnew mediaplatforms in marketing, traditional approaches useold mediasuch as print sources,telemarketing,direct mailand broadcasting stations such asradioandtelevision.[4]Multichannel marketing does not only useweb 2.0forms but also integratesmedia convergencemodels, targeting customer interaction through different platforms such as via text messaging, on a website, email, online video campaigns,[5]GPSto track the location of a customer and their proximity to the product or service. Being able to reach out to customers directly is an importantmarketing strategybecause it isconvenientand enhances direct customer interaction.
Benefits
[edit]Some of the long term benefits of this style of marketing include:
- Better management of results and sales: Using many communicative platforms to reach the audience increases the chances of receiving feedback from a variety of customers on the overall performance. This feedback gives companies an idea of what the customer wants and what they can improve upon
- Higher revenues: The more diverse platforms used in trying to reach customers, the more the potential customers are likely to reach out to purchase goods and services. If the company advertises its brand only on the [internet], it will be very hard to capture the attention of potential customers who do not use the internet regularly and rely on other mediums such as the [television] for example.
- Better understanding of customers: By the response from customers, it is easier to understand what they expect from a product or service and how a brand can be improved. To satisfy the needs of a niche, it is necessary to identify the channels and platforms which work for a certain group.[6]
- Increased brand visibility and reach: About 36%[7]of shoppers search products on one channel but purchase the product through a different channel.
- Optimize media spend: Data retrieval and centralization enables companies to better target consumer segments and provide them with more effective marketing campaigns therefore optimizing media spend. ref url =https://digital.hec.ca/en/digital-and-omni-channel-marketing/
See also
[edit]References
[edit]- ^"Multichannel Marketing: What it is and why it matters".SAS Institute Incorporation.
- ^"15-Minute Guide to Multichannel Marketing Communications,"http://www.emc.com/collateral/software/15-min-guide/h5107-15-min-multichannel-mktg-comm-gd.pdf
- ^Schierholz, Ragnar; Susanne Glissmann; Lutz M. Kolbe;Walter Brenner;Alexander Ostrowski (2006)."Don't call us, we'll call you – Performance Measurement in Multi-Channel Environments"(PDF).Journal of Information Science and Technology.Archived fromthe original(PDF)on 2010-06-02.Retrieved2010-01-03.
- ^"Traditional Marketing: explore the strategy of traditional marketing".Marketing-Schools Org.
- ^"Forbes CommunityVoice Connecting expert communities to the Forbes audience.What is This? 672 viewsJul 25, 2018, 06:30am The Top Five Reasons You Need To Add Online Video Campaigns To Your Multichannel Mix".www.forbes.com.Retrieved22 November2018.
- ^"The four benefits of multichannel marketing".retail customer experience.7 March 2012.RetrievedAugust 11,2014.
- ^"UPS Pulse of the Online Shopper™"(PDF).A Customer Experience Study.RetrievedJune 16,2017.
Further reading
[edit]- Klink, Sandra, (2021), Weimannmedia: "Multi-Channel – Schnittstellen Marktplatz Anbindung, zahlreiche Marktplätze automatisiert aussteuern", Germany,Blog Artikel