One common theme we see amongst business owners is the expectation that a single marketing initiative will boost their brand’s growth exponentially. a multifaceted marketing approach is required.
Brands experience a 250% higher engagement rate when utilising an omnichannel channel strategy than compared to those using single-channel marketing.
So, what exactly is omni-, or multi-channel marketing?
Omnichannel marketing is the involvement of multiple channels and initiatives within a single strategy, designed to provide a consumer with a consistent experience with a brand across the entire consumer journey.
At 500, for many of our clients, this omnichannel approach may include Facebook Ads, Search Engine Marketing, Landing Pages, Organic Social and EDMs. Where each initiative may have seen small success, together, they help guide the consumer from the discovery phase through to conversion.
Want to know the secret to maximising marketing return on investment?
While it may seem counterintuitive for some business owners to spend more money on marketing across more platforms rather than honing in on one, the benefit of a multichannel approach is increased average ROI that far outweighs that of single-channel marketing.
Industry research demonstrates that brands implementing multi-channel strategies experience incredible results including a boost in ROI by 24%, alongside an average increase in revenue by 9.5% in a single year.
More specifically, individual initiatives have been proven to yield higher returns when combined with wider initiatives. To exemplify, the ROI of television commercials improves by 29% when paired with a digital campaign, as does that of direct mail when paired with email marketing.
The reason for this increase in ROI can be attributed to the ability of a multi-channel approach to provide consumers with more touch points throughout their consumer journey. In 2022, it takes an average of 8 brand interactions for a sale to then to be made, meaning that one initiative alone is likely insufficient to solidify purchasing intent.
Big brand success
If you’re still not convinced of the success of multi-channel marketing, let's take a look at the world's biggest brands and their marketing strategies.
Starbucks, arguably the most recognisable beverage brand in the world, utilises an omnichannel approach to maximise the brand experience and build loyalty. More specifically, taking a deep dive into the Frappuccino Happy Hour campaign, the many channels are evident. Throughout a ten-day period, the brand delivered television commercials, a dedicated landing page, organic social media, and an in-store graphic campaign to guide consumers from awareness of the Happy Hour, through to in-store conversion.
The success of this campaign saw further renditions rolled out across the globe, thanks to the cohesiveness of the overall messaging and creative direction of each touchpoint. Now, imagine this campaign was isolated to just a single stream. Whether this is television or social media, the reach and frequency would have been significantly negatively impacted, as would the ability of the consumer to be guided through the consumer journey effectively.
Creating a cohesive experience
The importance of creating a cohesive experience is more important than ever, with 90% of customers expecting consistent interactions across each of the brand's channels.
Often, when each output is managed separately, a disconnect is created thanks to differing creative voices, which harms the creation of a cohesive experience for the consumer, creating confusion and weakening the message of conversion.
The benefit of working with a single agency when implementing an omnichannel approach is the guarantee that each piece of content will align with the bigger picture. In practice, this looks like each creative output carrying the same visual tone, as guided by the brand's wider guidelines.
What’s more, at 500, the ability of the team to collaborate from the conceptualisation phase of the campaign through to the completion of creative production guarantees that the timeline or flow of the campaign will be considered, in turn improving consumer retention and confidence in your brand.
What about attribution?
Outside of ensuring consistency in outputs, the other challenge that a multichannel marketing plan draws is the identification of attribution.
Naturally, attribution of key results, whether that be sales, leads, or other brand sentiments such as confidence or trust, will 9 times out of 10 come from marketing initiatives that are towards the end of the consumer journey. This often calls into question the effectiveness of the other components of the marketing mix. For example, our small to medium-scale eCommerce clients often find that sales are disproportionately attributed to Search Engine Marketing compared to Social Media Ads; placing the validity of the latter.
In actual fact, what must be considered is how the consumer built the intent to search for the brand in a search engine such as Google. We have to remind ourselves that odds are they didn’t learn about the brand on Google but instead have seen a Facebook ad or post that has inspired them to search for their online store. This is why keeping an open mind towards attribution and understanding that channels work together, not independently, is key.
Are you ready?
If you’re ready to upgrade your marketing, the team at 500 is ready to assist you in developing a detailed plan that utilises a multichannel approach to achieve the best possible results.
What’s more, we analyse competitor marketing initiatives to ensure your creative is best-placed and stands out, whilst considering market trends such as seasonality to develop campaign timelines that best align with consumer intent.