Given the variety of screens and devices every consumer uses on a daily basis, marketers trying to capture the attention of consumers and connect with them face an uphill battle. When building out a marketing plan to reach your target market, there are very few instances where it makes sense to limit your marketing activities to only one channel to accomplish that goal. Rather than putting all your eggs into one basket, multichannel marketing is a better way to share your message with the right people at the right time.
As the name implies, multichannel marketing refers to the practice of targeting and engaging consumers across multiple channels, which may include display, video, CTV, mobile, native, audio, search, social, and more. Rather than focusing on one single channel, each campaign uses a variety of channels to not only reach more potential customers overall, but also offers the chance to share their message multiple times to increase the likelihood of brand recognition.
Just as I would never allow my kids to eat from only one food group, and instead focus on “eating a rainbow” to get the vitamins and nutrients from a variety of foods of different colors, multichannel marketing means you get different benefits from different channels. Because display has different strengths from search and social, for example, taking a multichannel approach means you get the benefits of more than one channel for a more well rounded marketing strategy.
Benefits of Multichannel Advertising
Why would a marketer choose to take a multichannel advertising approach? Here are just some benefits of multichannel marketing:
- Reach your target audience across channels & screens: Because you aren’t limiting your ad spend to one channel, you can connect with your customers wherever they spend their time. This means marketers have a better chance of connecting with those potential customers.
- Save money: By testing out multiple channels, and analyzing the performance of each, you can see which channels are delivering the most bang for your buck. For example, if you have a CPL (cost per lead) of $45 in Paid Search, and a CPL of $21 in display, you might choose to shift more of your budget to display and see if you can keep that CPL moving in a positive direction. This requires an honest appraisal of where to spend the marketing budget based on performance. Because you’re limited to a single channel, you have flexibility to make adjustments to have a positive impact on your bottom line. The best combination of multiple channels for an optimized media plan tailored to your target audience should deliver the most number of customers with the lowest Cost Per Acquisition (CPA). Finding the right mix that will deliver the lowest CPA means you can achieve a faster return on investment.
- Inform planning on other channels: Lessons learned through this multichannel advertising approach can be applied throughout your business. If one creative or message is outperforming another on all channels, you may want to consider using that message on your website and throughout your marketing plan. At the same time, you can A/B test different creatives on one relatively inexpensive channel such as display, and then continue to iterate on the winning creative until you choose the perfect one to use on a more expensive platform. The same can be done with audience testing — you can use the insights gleaned from one channel to better target your audience on other channels.
- Increase engagement with consumers: Sharing a consistent message across multiple platforms gives consumers more touch points and opportunities to engage with information that is valuable to them. This offers you an increased shot at brand recall and recognition, but hopefully a better chance of moving customers down the funnel to conversion, regardless of which channel they are interacting with your messaging on.
- Increase scale of campaigns – Running your marketing campaign across more than one platform means that you can reach more prospective customers. Not every person you want to reach uses the same types of media. My best friend may be a Snapchat lover while I lean more towards Instagram, but we both are shoe lovers! You may not reach both of us on just one channel.
- Puts your focus on the entire sales funnel: Every customer journey is unique, and fragmented. As much as we would love to attract a customer and get them to convert in one shot, it generally takes more work than that for most verticals. Using different channels allows you to engage with prospects at different stages in the customer journey, to increase your chances of moving prospects down the funnel.
- Get a holistic understanding of the entirety of your paid digital efforts: Multichannel marketing means you are no longer in the dark about which of your strategies or tactics are working. By keeping an eye on your spend by channel compared to the results generated, you can see which ones are driving the most leads, at what price. In some instances, you may choose to pay more for certain channels that drive better quality leads. In others, you may just want to go for quantity over quality. The important part is deciding what strategy you will take, and using the information at hand to guide your decision.
Are you ready to get started with multichannel marketing? AUDIENCEX is ready to help. We offer streamlined access to 18 DSPs, search and social platforms to help you get your message to the right audience at the right time. In addition, our proprietary technology analyzes each platform against your campaign goals to recommend the optimal mix of platforms and channels to reach your customers. Want to find out more? Contact us to connect with one of our campaign strategists to learn more about how we can help you build a multichannel marketing plan to reach your next best customer and decrease CPA.