As marketers, we’ve all heard of multichannel. In fact, it’s something that many businesses have strived to achieve over the past five years. Notably, a significant 52% of marketers are now using 3 to 4 marketing channels, compared to 44% in 2015. However, it’s become apparent that multichannel marketing is running into challenges, including:
  • Inconsistencies between channels
  • A lack of communication between data sources
  • Forcing users to engage on channels they are not familiar with
This can result in frustration and overwhelm for both marketers and consumers. In fact, 45% of consumers believe that retailers fail to offer a quality multi-channel experience in a fast-paced, reactive manner. This is an understandable challenge. After all, 15 years ago the average consumer typically used two touchpoints when buying an item. Today, consumers use an average of almost six touchpoints, with nearly 50% regularly using more than four. Marketers are being pushed to address the challenge of multichannel marketing to ensure a smooth, seamless, and impeccable brand experience on every channel and every touchpoint. That’s where omnichannel comes in.

What is multichannel and omnichannel?

Firstly, let’s take a step back to define what multichannel and omnichannel actually are. At a basic level, multichannel marketing is a strategy used to connect with customers and prospects across multiple channels. The main goal is to ensure some form of brand presence on key platforms and channels to reach target audiences. Omnichannel also aims to connect and engage with audiences via multiple channels. However, omnichannel also works to ensure cohesive and consistent messaging and branding across all channels and platforms. And above all, ensure that all marketing is contextual within the consumer’s own, personal, buying journey.

Source:- Magecom.net

So, we’ve taken you through a brief overview of what the two strategies are, and where they differ. But to get each approach truly right, it’s important to understand the nuances that separate the two.

Core objectives

While the two strategies may look similar on the surface, at the core their objectives are very different. Multichannel’s main objective is to reach as wide as possible across all channels to increase the amount of consumers they touch, and ultimately encourage conversions. Omnichannel, on the other hand, is focused around providing the most engaging experience possible. Delivering a seamless consumer experience wherever they choose to interact or transact. Regardless of the channel. The focus for omnichannel is less on conversion. And more on providing an effortless experience for whatever the consumer wishes to do. Whether that be researching, engaging, or purchasing.

Channel engagement

Multichannel aims to enable consumers to reach out to a brand via as many channels as possible. For example, a multichannel marketing strategy would produce and release a campaign across all channels: website, social media, display, email. Once engaged with, the individual would be added to the CRM as a prospect. They would then be contacted via specific channels based on the business’s preference. Omnichannel takes a more holistic approach by connecting all channels to engage with consumers. This ensures a seamless brand experience across every channel and platform. For example, an omnichannel marketing strategy would aim to customise content and campaigns as per the channel. Whilst also connecting them in a way that encourages a progressive interaction with the brand. Apple is one of the great pioneers of the omnichannel customer experience, from in-store through to data unification across all devices. Data is seamlessly shared and utilised throughout all platforms and channels to ensure a seamlessly branded, personalised, and genuinely useful experience.

Data centralisation

Data is absolutely key to offering a personalised and contextual customer experience. If data remains siloed within an individual channel, then the final view of the consumer, and their requirements, will be fragmented. Multichannel marketing does not prioritise the centralisation of data. Instead, it works channel-specifically by storing and utilising data only on the channel it was collected within. Omnichannel marketing, however, aims to centralise data as much as possible. It combines data from multiple channels to generate an informed view of that consumer. And to inform the activity within every channel it utilises. A great example of this approach is Nike. Their NikePlus app starts the omnichannel process as soon as you buy shoes. It collects data on your preferences and activities, then provides customised, relevant information, help, and marketing. Right on your device.

Cost and resource

The choice of multichannel or omnichannel for your business requires different considerations. From business stage, model and priorities, to budgets, skills, and the technology available. Data management is a key consideration for any business looking to take an omnichannel approach. A strong link between unification and activation of data is required to offer an omnichannel experience. This strategy requires strong data management capability, and a reputable customer data platform. This can come at a cost, at a resource, experience, and software level. If your business is in its early stages, or its main goal is acquisition, then a multichannel approach will work extremely well. However, for enterprise businesses whose focus is on customer retention and brand awareness, investing in omnichannel marketing would be preferable.

Lastly…

So which strategy will your business be implementing? Multichannel? Or, omnichannel? If you need a little help and guidance in executing either strategy. Or simply more clarification on what is right for you. Don’t hesitate to get in touch. Our experts are always happy to have a chat.