“Multi” means many.
“Channel” means a way into which something may be delivered or directed.
The buyer’s journey has changed (and continues to do so) and as such the needs of every consumer are changing too. The way buyers arrive at your doorstep is more complicated than ever before as they use multiple different channels and devices for a single purchase cycle. As such businesses should make the purchasing experience as smooth and accessible as they possibly can. That is if you don’t want to frustrate your customers and decide to put them first. When your customers are in multiple places – you should be too.
But let’s first draw the line and say that multi, omni and cross – channel are all different things. Multi-channel is a term used a lot these days in e-commerce as it widens one’s business approach. To succeed in this means you are viewing the experience through the eyes of the customer. To orchestrate the experience through all channels so it can be consistent, seamless and integrated across all channels and devices. In this type, your channels are separate and used separately.
Companies need to interact with customers on their preferred channel – that’s why the multichannel type of approach is effective. By learning your customers behavior on one channel, you can use this knowledge to customize your approach and find out which format to convert. Gathering this data will help you with your marketing strategy too.
Customers these days spend more time researching the products and services they want to purchase. They compare prices on retailers’ websites, on their competitors’ websites, consider the opinions of other buyers and make purchases both online and in the stores. All of this is not a new practice either and made an impact on customers’ experiences.
• Even though video content is considered as the most effective content form by 46% of marketers, 59% continue to believe that developing a video is challenging.
• Lack of understanding of how to run a multi-channel marketing campaign prevents 21% of marketers from implementing the same.
• Consumers doing online research before purchasing are observed to spend 13% more.
• Companies with an effective omnichannel marketing strategy in place are able to retain 89% of customers.
• Customers shopping across multiple channels are observed to have a 30% higher lifetime value.
• 67% of buyers in the B2B domain are prone to researching content before making a purchase.
• 82% of shoppers are observed to use assistance from their smartphones while making an in-store purchase.
• 64% of B2B buyers will actually read two to five content pieces before making a decision to purchase.
• Your customers are 4 times more likely to watch a video than reading a piece of content.
*data from CISION
When you expand your reach to new channels, you are increasing your reach among members of their potential audience. A lot of customers interact on a limited number of channels. By expanding your reach to more channels, it’s possible to find customers with untapped purchasing potential.
An increased number of channels often translates into a higher number of potential customer touchpoints. This doesn’t only give buyers more opportunities to engage with brands, it also opens up new channels of communication between the organization and them. In the era of hyper-personalization, customers are in the driving seat. They dictate the needs and demands that you must cater to. Since your customers are flooded with options today, you have to take it upon yourself to engage them, nurture them, and make them sales-ready.
Although there are many benefits to using a multi-channel strategy you need to plan or work with the right partner to overcome the challenges that will come with this opportunity.
In 2020 the majority of consumers that switched to web stores when physical outlets were closed to the online marketplaces are continuing to purchase online. This provides us with major opportunities to grow revenues that are incremental to traditional routes to market.
At E-Motive we are experts at working with customers to get them up and running fast. By creating a detailed project plan with assigned responsibilities and milestones to deliver a successful onboarding. Getting your customers to utilize the platform and understanding the features to ensure maximum value is achieved from their investment in you.
To find out more about how to have multi-channel reach or if you want to get online fast and sell more contact us.
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