Like any marketing plan a multichannel marketing plan, to be successful, needs to follow four important steps-to-success!
A multichannel marketing plan, to be successful, needs the following:
- Clear, realistic goals which you can be confident of hitting (based on past performance)
- The best strategy to achieve these goals against your competition (conduct a SWOT analysis)
- Sufficient details of the tactics and actions needed to translate the strategy into action (quantify the actions)
- A method to check you are on track with your plans (create measurement benchmarks)
MindWorks Customer Conversion Pathway visual above illustrates the complexity facing today's marketers with a proliferation of digital and personal channel opportunities littering the path to a customer conversion and ultimately a loyal advocate.
Identifying the right mix
IBM conducted a Digital Banking Report in 2014 to better understand how Financial Service Industry marketers were looking to engage with their customers through the customer lifecycle across multichannels.
To demonstrate the challenges marketers face in achieving the 'right channel mix' a range of MASS, ONLINE and OFFLINE channels were assigned an 'effectiveness level' at each stage of the buying process.
The following table demonstrates whether a channel offered a Strong, Moderate or Weak ability to 'influence' the customer at the various stages along their journey.
IS MULTICHANNEL MARKETING WORTH ALL THE EFFORT?
The short answer is yes.
The following retail case study demonstrates that even at the very entry level, integrating just two channels, the results speak for themselves… Here's the test design. Some of the audience of the retailer received only an email (the control group), others were served Facebook ads (custom audience), but the interesting group are the combined 16% who opened emails and saw Facebook ads (just two touchpoints).
- Those on the Email list who saw Facebook ads too, were an impressive 22% more likely to purchase.
- When reached with Facebook ads, email openers were 8% more likely to click on email.
- Facebook ads extended email reach by 77%.
So where should marketers start?
Most SME's and small marketing teams (within large enterprise) will have a Marketing Plan and maybe a Digital Marketing Plan so combining them is really the first step.
If your not sure where to start the following could be used as a guide.
A study of SME's by Experian placed various channels in one of three categories:
- Greeter (creating brand awareness)
- Influencer (generating interest), and
- Closer (getting the sale).
According to Experians 2014 Digital Market Trends Report, the top channels for creating brand awareness (Greeter) were:
- Search marketing: 43%
- Online display ads: 42%
- Social display ads: 40%
- Social media (not paid): 38%
- Print advertising: 37%
Top channels for generating interest (influencer) were:
- Email marketing: 49%
- Social media (not paid): 44%
- Online display ads: 35%
- Print advertising: 33%
- Social display ads: 33%
Top channels for getting the sale (closer) were:
- Website (ecommerce): 42%
- Email marketing: 30%
- Direct mail: 20%
- Mobile apps: 20%
- Search marketing: 17%
The study also found that half of the global multichannel SME marketers surveyed planned to integrate four or more channels in their marketing campaigns in the following year.
TAKE THE next step
- Create and capture measurement criteria of actual outcomes currently being achieved from existing marketing activity, Attribute to actual channel.
- Researching customer attitudes to gain additional insights to help support channel selection - try an online survey.
- Remember: the craetive message and value proposition are important too!
- Start small, for example, support an email campaign with some Social Media or Web Banner remarketing on Google AdWords.
- Then test and measure, measure, measure.
Drive more leads, Convert more sales
MindWorks Multichannel services include Full Service Creative Agency, Planning, Strategy, Campaign Management and Analysis, Digital (email, ecommerce websites and microsites) Marketing, Google AdWords Marketing, Direct Mail Marketing, Direct B2B Sales Team Support, Direct Response Advertising, Data - Lead Generation list
The MindWorks difference
MindWorks Data. Digital. Direct. Social experience has proven that only ‘best practice’ Direct Marketing – the merging of Intelligent Data insights with Relevant and Engaging creative, a mapped multi-touchpoint Customer Conversion Pathway across mobile, web, social, mail, search, phone and traditional media - that follows a Measurable implementation strategy can equip marketing teams to build loyal relationships with their customers and a sustainable lift in results …