What is Multi-channel marketing?

 

Multichannel marketing is the blending of different distribution and promotional channels for marketing. Distribution channels include a retail storefront, a website, or a mail-order catalog.

Multichannel marketing is about choice.

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.

To be effective, multichannel marketing needs to be supported by sound supply chain management systems so that the details and prices of goods are consistent across the different channels. 

It is also supported by a detailed analysis of the return on investment from each channel, measured in terms of customer response and sales conversion.

 Each channel's contribution to sales can be assessed via Marketing Mix Modeling or attribution modeling. 

Some companies target specific channels at different demographic segments of the market or different socio-economic groups of consumers.

Multichannel marketing allows the retail merchant to reach their prospective or current customer in a channel of his/ her liking.

Coordination of online and offline channels.

Companies that sell branded products and services through local businesses market over both online and offline channels to local audiences. Online and offline multichannel marketing campaigns can either inform one another or are 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.

While multichannel marketing focuses primarily on new media platforms, traditional approaches use old media such as print sources, telemarketing, direct mail, and broadcasting stations such as radio and television.

 Multichannel marketing does not only use web 2.0 forms but also integrates media convergence models, targeting customer interaction through different platforms such as via text messaging, on a website, email, online video campaigns, and GPS to track the location of a customer and their proximity to the product or service.

Reaching out to customers is an important marketing strategy because it is convenient and enhances direct customer interaction.

Benefits.

Some of the long-term benefits of this style of marketing include the following:

Better management of results and sales: Using many communicative platforms to reach the audience increases the chances of receiving feedback from various customers on the overall performance. 

This feedback gives companies an idea of what customers want and what they can improve upon.

Higher revenues: The more diverse platforms used to reach customers, the more potential customers will likely purchase goods and services. 

Suppose the company advertises its brand only on the internet.

 In that case, capturing the attention of potential customers who use the internet sparingly and rely on other mediums such as [television], for example, will take much work.

A better understanding of customers: 

Customer response makes it 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 that work for a specific group.

Increased brand visibility and reach: 

About 36% of shoppers search for products on one channel but purchase the product through a different medium.

Optimize media spend: Data retrieval and centralization enable companies to target consumer segments better and provide them with more effective marketing campaigns.

 Therefore, optimizing media spending.

Text editing and article editing Billy Kasis 2023

Writer: Billy Kasis (Marketing and Digital Guru, find me on Google).