Every business needs to market itself from time to time. Large corporates have marketing programs that run across the entire year. For smaller business, the story is a little different mainly due to budget constraints which culminates to an ever bigger problem; Which platforms should I be on?
And for that reason, we decided to do this blog to break the misconception that being on every platform(multi channel marketing) is usually the best approach for all the campaigns.
So what is Omni-channel Marketing?
Omnichannel refers to the multichannel sales approach that provides the customer with an integrated shopping experience. Each channel works together to create a unified experience – the customer can be shopping online from a desktop or mobile device, via phone, or in a brick-and-mortar store, and the experience will be seamless.
Difference between Omni and Multi?
The two words are very distinct and separate when applied in marketing strategies, even though both focus on the use of multiple channels to reach consumers and potential consumers.
Many a time’s most people confuse the two and use them interchangeably to mean the other. This is because the lines of separation are so blurred but take a look at their definitions:
From the above definitions, the differences seem too subtle but when each strategy is applied the results are different and two businesses can find themselves leading two different paths. Below are the differences from a strategic point of view that will definitely bring out the uniqueness of each marketing strategy.
1. Channel vs. Customer
The multichannel approach merely aims to get the word out via the maximum possible number of channels. Multichannel marketing is about casting the widest net to get the most customer engagements; the more the merrier. Companies utilizing the multichannel strategy are adopting two or more channels to engage their consumers; most popular are social media and email.
Statistics show that companies with Omni channel strategies have a higher customer retention rate compared to those without. Brand loyalty and love was also recorded in higher numbers as the focus of the strategy is build stronger relationships between consumers and brands.
2. Consistency vs. Engagement
Omnichannel is inclined to delivering consistent messaging to the consumers for better experience. This has to be applied across all departments. The HR, finance and marketing for example has to be synched towards the same strategy.
This is not the case for multi-channel as it gears towards more impressions by either increasing frequency or the platforms for consumer engagement.
3. Effort vs. Effortless
As more consumer data becomes available to marketers, it becomes easier to communicate with consumers as ads can be more targeted towards them. It also becomes easier to tailor marketing initiatives specifically for a particular segment of the population.
Being on several platforms is casting the net wide but may not deliver the conversions or lead to a successful campaign as one may have hoped.
Benefits of Omnichannel Marketing
A successful omnichannel marketing strategy can help your organization realize the following benefits:
1.Increases in Revenue
Omnichannel strategies improve customer loyalty, strengthen brand recall, and promote repeat purchases. These efforts help brands retain customers and attract new customers through content personalization and word-of-mouth marketing. With more customers, comes more business and, of course, more revenue.
2. Boost Customer Loyalty
With all efforts geared towards providing a consistent experience across all platforms and offer a personalized experience for each audience member, repeat purchases rise as customer loyalty is reinforced through this approach.
3. Improved Brand Recall
Omnichannel marketing’s emphasis on cross-channel consistency ensures your customers will see your brand in the same way across platforms and devices. This consistency helps strengthen brand recall for your customers. A strong sense of brand recall will increase the likelihood of purchase across your customer base.
Depending on campaign objectives one may apply either omni or multi channel approach and we are here to give professional advise on which approach to take for your business. You may not need to be firing from all fronts but consitency in the messaging could be the only trick to unlock your sales for you.
Talk to our team today!