Omnichannel Marketing Explained
Though often used interchangeably, Omnichannel Marketing and Multichannel marketing aren’t the same thing.
Unlike Multichannel marketing that has several different channels working independently from one another, Omnichannel Marketing is a UNIFIED customer experience that seeks to deliver a consistent, personalized experience for users across all channels and devices.
The three main pillars of Omnichannel Marketing include consistent measurement, channel synergies, and personalized experience.
Pillar #1 Consistent Measurement
What to do: Move away from channel specific metrics
Instead of looking at your Paid and Organic media and the metrics in silos, evaluate each channel based on Business KPIs will allow you to have a holistic assessment of your marketing performance.
Eg. Organic Sessions, Direct Sessions, Add to Carts, Checkouts, Sales, Revenue, ROI.
a) Calculate your blended CPA (Cost-per-acquisition)
Your Paid media efforts will positively affect brand recognition, organic and direct traffic.
Whenever you put up an advertisement, besides having users clicking on your ad and landing on your website, you are creating brand recall and increasing brand awareness in your viewers. Therefore, a large percentage of your organic traffic can be attributed to the Paid Media efforts.
Instead of viewing your CPA for Organic and Paid media as separate and unrelated metrics, Omnichannel Marketing requires you to calculate your Blended CPA by looking at your total spending holistically.
b) Calculate ROI, not ROAS
Marketing is often not restricted to just ad spend. Innovative technological tools, creative agencies, and human capital that help boost the efficiency of your marketing efforts cost money.
By shifting the focus from ROAS to ROI, you get a more accurate picture of the total cost required in Omnichannel Marketing effort.
c) Single Measurement Tool
Tracking consistency via a single measurement tool is key in Omnichannel Marketing.
Different platforms may give you different results because every platform is attributing conversions differently.
Therefore, Google Analytics or equivalent can be utilized as tools for tracking overall performance via a unified and defined set of measurements.
Pillar #2 Channel Synergies
Ensure that your messaging is consistent across all Paid and Organic channels.
A common yet costly mistake is the inconsistency between what’s presented in your advertising message and what’s written on your landing page. Having clear objectives and messaging across all channels would not only result in more accurate measurements on your end, but clarity for your audience with regards to the next step you would like them to take in the customer journey.
Channel synergies also allow for more effective remarketing campaigns. With a deeper understanding of user behaviour via your single measurement tool, you will be able to create personalized and highly-targeted messages based on actions they have taken.
Pillar #3 Personalised experience
Use website and owned data to personalize your communication message.
This allows you to speak a personalized message to a specific audience (Abandoned Cart, visited Product Page but did not take action etc) across all channels. This would produce a far better result as compared to showing the same ad to your remarketing audience as you would your brand new audience.
Types of data you can leverage for remarketing campaigns
Website Actions via Google Analytics and Facebook Pixels etc
CRM Data to create email drip campaigns
Social or Advertising Data to target users who took specific actions (Watched my Youtube Video etc)
Bonus tip: Optimize your Marketing Funnel
Look at your business in a unified way via the marketing funnel.
Channel traffic: Am I driving quality traffic to my website?
Key actions: What’s the drop-off rate?
Purchase: Are purchases being made?
Loyalty: Repeat purchases and positive reviews?
By asking these questions from an Omnichannel Marketing perspective you will be able to optimize your funnel and increase the profitability of your business.
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