Multichannel marketing is a worthwhile strategy for eCommerce stores that are looking to grow this 2020. This article will explore the deep wells of multichannel marketing and give you concrete actionables on how you can launch your very own multichannel marketing plan. We’ll also touch lightly on the four channels you need to focus on as well as the importance of having your personalized multichannel marketing plan.
What is a multichannel marketing plan and who needs it?
Multichannel marketing’s foundation is still banked on enhancing customer experiences. Here’s an example. Email marketing and social media marketing actually really work well together. By doing this, you’re giving your customers more options according to their preferences.
If you’re spending a large chunk of your marketing budget on ads, and seeing healthy traffic but low conversions, this is a sign that you need to expand your channels. Another sign is if you’re hitting your revenue targets but you’ve also hit a growth plateau.
If you’re serious about scaling your eCommerce store to 8-9 figures or beyond this 2020, it’s definitely worth your time to check out just how you can get an edge from the rest of the crowd with multichannel marketing.
It’s not just about promoting and selling on different channels. You’re creating effective touchpoints along the customer journey to serve up a great customer experience that converts.
Why does it bring more customers than a single channel strategy?
According to a report by Think with Google, multichannel consumers have 15-35% higher average transaction rates. Additionally, they also have 30% higher lifetime value compared to single-channel shoppers.
A report by Braze also showed that customers who received outreach from two or more channels had a 166% higher engagement than the single-channel customers.
Still not convinced? Here are 3 reasons how multi-channel strategy contributes to in the big picture:
1. It improves the customer experience.
Essentially, you’re catering to your customers’ preferences by being present on their channels of choice. This means that you’re making your eCommerce store more accessible to them by being where they are, resulting in increased conversions.
2. There are more touchpoints along the customer journey.
This means that you can collect more data over time. Having access to this information helps in optimizing each channel according to their strengths and roles within your funnel.
3. It allows you to continuously engage, nurture, and retain your customers for long-term customer engagement.
You’re aligning with customer behavior. Focusing on one channel means you are relying on only one specific type of user behavior. For example, if you only choose social media, you’re only catering to customers who have social media accounts. Using multiple channels will allow you to engage with more customers at different stages of their buyers’ journey.
How can you structure and launch an effective multichannel plan?
The major barriers that businesses face in a cross-channel strategy include lack of integration across channels, not investing in the right tools, and poor data tracking.
In a report that surveyed over 200 marketers, 62% of them had no marketing automation tools in place.
The point here is not how you can make it work, but how it can work for you and your business.
Understanding the buyer’s journey is the foundation of launching an effective multichannel marketing plan. Once this is laid out, you can start developing your plan which should include channel focus, communication techniques, and types of content.
In crafting your marketing plan, there are two frameworks that can help you—the SOSTAC® Planning Framework and RACE Planning system. It’s recommended that you use both for a combination of both planning and implementation.
Essentially, the SOSTAC® Framework covers goal-setting, strategy, implementation, and review. On the other hand, RACE Planning covers activities included in the modern marketing funnel. It’s designed to guide brands on how to engage with their customers best throughout the whole customer lifecycle.
The Four Channels You Should Focus on to Scale in 2020
We’ve done the homework for you and shortlisted the four channels you should focus on if you’ve already set your mind to scaling your business this 2020.
It remains to be the channel that generates the highest ROI (up to 4400%!). When it comes to eCommerce, email marketing allows stores to create personalized experiences using behavioral triggers and automated email flows. Email marketing also takes advantage of segmentation so you can send the most relevant content to specific customers. Plus, AB testing is a breeze in email marketing so you can continuously optimize your emails.
It continues to be a significant driver of traffic to websites, and this is good news for eCommerce stores. Plus, there are more than 3 million social media users as of 2019, spending an average of 6 hours online per day. This is a market you definitely cannot ignore. Investing in social media actually has a lot of benefits for eCommerce stores. Aside from driving traffic, brands can also use social media to enhance relationships with their customers.
Apparently, customers who have positive interactions with businesses on social media are almost three times more likely to promote the business; while 88% are less likely to purchase from a brand if their inquiry is ignored. When it comes to paid ads, eCommerce stores will thrive on Facebook because of the relatively low cost, high user base, plus the targeting options.
It presents a lot of advantages for eCommerce brands. With open rates as high as 98%, this channel can definitely change the game. Though it has its limitations like design restrictions and text limits, SMS performs best when sending out deals, coupons, sale event reminders, and personal alerts.
Its usage keeps growing for the eCommerce industry. The 2019 Customer Service Report by LiveChat shows that the number of chats have blown up to 437 million as of 2018. Ecommerce stores are catching on and starting to implement live chat as part of their overall strategies. After all, it can increase conversion rates, create personalized customer service, and be an effective instrument for feedback gathering. It’s really a simple channel that contributes amazing results for eCommerce stores.
The Ultimate eCommerce Audit: A personalized multi-channel approach
This would essentially be an easy way to jump forward in your quest to reach your 8-9 figure milestone.
A personalized multichannel marketing plan tailored to your brand will be able to give you clear-cut directions on your next steps for the next months.
In recognition of your goal to take your eCommerce brand to the next level, Chronos Agency, and ROAS Media have joined forces to provide brands with the Ultimate eCommerce Audit.
The email experts meet the digital disruptors for an actionable roadmap plan
ROAS Media started 3 years ago by founder Rich Burns and they are a force to be reckoned with in Facebook advertising. To date, they have brought over US $100 million in advertising revenue for their global clientele.
Their main focus is—as you might’ve guessed, is the return on ad spend (ROAS) that they generate to transform their client base and help them scale, transform and dominate in their respective industries.
While ads are the VIPs when it comes to driving traffic to eCommerce stores, email marketing is the champion of lead capturing and nurturing.
Chronos Agency has been working with over 200 global eCommerce brands since 2017. We’ve helped them generate a 20-30% boost in trackable email revenue. Our clients enjoy on average a 35x ROI on email marketing.
Together, ROAS Media and Chronos Agency provide valuable knowledge to eCommerce brands who are ready to take it up a notch.
What’s in the Ultimate eCommerce Audit?
The package will contain two custom decks with tailor-made strategies specifically for your store. You’ll also get a multichannel roadmap. You can implement this right off the bat. This also comes with practical tips and advice from Facebook advertising and email marketing experts.
There’s a catch, though. The resources necessary for top-notch quality audits are extensive. So there will only be FIVE stores that will get their personalized audit.
We’re accepting applications only until the 26th of June 2020 so we want to make every minute count. If you’re 100% sure that you want to scale up to 8-9 figures, this is the decision that will turn your business around. See you on the other side!
**Updated July 7th, 2020: This draw has ended. Thank you for your interest! For further questions on the audit, you can fill out our application form to apply for a free strategy call.