Why Multichannel Marketing is important for businesses?

Companies have to trail behind their customers all the time in order to win their hearts and successfully sell their products and services. For this, they must use a multichannel marketing approach to communicate with them. With time and rapid advancement in technology, more and more marketing channels have been added to the list. Consumers’ needs and preferences have changed, and they are shifting towards online buying. Thus, as a marketer you have to choose the channel which they like and prefer. In this article we will be discussing the major benefits of multichannel marketing but firstly you should get acquainted with this term. 

What is multichannel marketing?

This term is quite self-explanatory, multichannel marketing refers to the brand’s interaction with the target audience or the existing customers through different platforms, mediums or devices. Through this method, you can engage with your customers with different demographic backgrounds, using slogans and advertisements that best suit them. 

Want to hit the jackpot?

The art of effective marketing lies in being attentive and responsive to consumer requirements and needs and delivering services in the right manner and at the perfect time and place. The relevance, authenticity and the trustworthiness of your ad campaigns counts the most for your target market. A study has revealed that 74% companies were able to boost their sales by implementing multichannel marketing techniques.

Spending a huge sum of money on quality content and then spreading it via a website is not enough. You must make it visible in the eyes of your customers through other mediums and channels including emails, SMS, WOM, social networks, billboards, television, Facebook, Instagram, Twitter or even through stores. Consider the example of Apple that reaches out to their audience via their brick and mortar store i.e. Apple Store. Here customers can preview their products, making their experience more enjoyable and providing them top notch services. Later, they can buy the same product online if they wish to.

Customer knowledge can be enhanced in this way and simultaneously the way they interact with your brand enables you to provide them a personalized experience. Moreover, higher revenues can be generated through impulse buying as consumers are sometimes inclined towards products they see either on shelves or come in their product recommendation list while they scroll on their phones. This spontaneous purchase can in turn lead to upselling or cross selling success for companies. 

Multichannel marketing is the best strategy to nurture and build relationships with your customers and gain more access to customer data. This trend will grow more in the coming years so companies must tread in that direction to drive away the competitors.

 

The Role of Technology in Modern Marketing

An incisive move for marketers

Technology has tapped and shaped every aspect of our lives. Over the years, we have seen a visible and profound change in marketing and all the credit goes to technology. With the help of social media and digital platforms, businesses can interact or reach a larger audience to promote their products and generate more sales. A report has revealed that 24% of the marketers around the world believe that the success of their business hinges upon social media platforms. Data analysis and tracking has become way easier than before and understanding consumer behavior is also not onerous. With all this information at hand, companies can come up with more effective marketing campaigns and make improvements in their existing products and promotional techniques. This creates a stronger relationship between the company and its customers.

Reaching new heights

With the growing intervention of technology, business operations have become smoother and efficient and companies are able to devise better customer service strategies. They can provide a personalized experience to their customers, know about their preferences and can even track the progress they themselves have made. A number of marketing tasks have become automated which were previously time taking and needed human involvement. This is boosting the overall performance of the companies and is also enhancing their efficiency. For instance, companies can send automated emails to their customers to give updates about the launch of a new product or service. Similarly, for formulating and decision making, marketers rely on artificial intelligence technology. One interesting thing is the search engine optimization used to improve the ranking and website traffic.  With this, you can promote your products to potential customers which can lead to greater reach. Another advantage of technology is that it has allowed customers to closely engage with the brand. Providing them support, timely dealing with their issues through emails or messages and getting their feedback are some touchpoints that lead to customer loyalty and satisfaction. Since marketing teams can work from anywhere, connecting with customers is not a problem. Customers, on the other hand, are increasingly relying on AI powered chatbots, voice assistants and videos so marketers have to develop their strategies keeping in view their customers’ needs and wants.

Wrapping up

Technology is assisting marketers but it has also posed great challenges for them. In order to meet the needs of their tech savvy customers they have to spend a lot on updating their outdated technologies and training their staff.

How to improve your brand awareness?

A strong brand always stays at the top of the customers minds whenever they make a purchase decision. Brand recognition and awareness depends on how quickly people are able to discern your brand through the logo, jingle, advertising campaigns, product packaging or the tagline. Sometimes bombardment of advertisements is fruitful but mostly it puts your audience off or irritates them, so make sure you use this technique wisely. For example, the name Coca Cola has been deeply and subtly inculcated in people’s minds through television, billboards, kiosks, social media and various other platforms. Whenever, there is a talk about drinkables, the first thing that hits them is “Coke” which is one of the reasons why its name is so popular across every continent and country. Similarly, Nestle remains indomitable in the food and beverages industry. Let’s discuss what tactics companies can use to be successful and how they can remind their target audience that they exist.

1. Brand Building

Companies have to be crystal clear about what they are trying to deliver and represent through their brand. The tone and style (informal, friendly, cheeky etc.) you use on various channels and platforms really matters since it depicts your brand voice. Aesthetics and visuals (font or color) leave a long-lasting impact on customers. Take the example of McDonalds which uses a vivid combination of yellow and red. With a simple logo and a tagline, "I'm lovin’ It" people can quickly and easily recognize and distinguish the brand from its competitors. Moreover, people prefer brands whose values are in line with their own beliefs, make sure you keep these aspects in mind which subtly affects your target market.

2. Freebie

When you introduce a new product or service, it’s good to offer freebies to people or potential customers in the form of a free trial or sample. This allows customers to interact with the brand, get updates and information regarding new features, and develop a sense of excitement which can lead to a positive word of mouth. It not just improves brand association but people may also end up buying your products. Take the example of Sapphire which offers free trials for its entire range of cosmetics and people end up buying a bunch of their products. 

3. Social Media

Billboards and television commercials have become old school and they are not as effective as social media. Brands can reach out to a larger audience by advertising and promoting themselves via online platforms. It helps to build strong company consumer ties and establishes trust and loyalty. Brands can market their products through influencers or experts who have a plethora of followers. In this way people become aware of your brand and would give your products a try.

4. Events

Sponsorships help companies to improve and build relationships within a community. People recognize a brand on the basis of the type of events which that company sponsors. Your primary focus should be on how your target audience will perceive and connect you with that event. Such events include webinars, arts, sports, or charitable ones. The people in the event can be your potential customers and might advocate your company. 

There are several other techniques like referral programs that brands can use in order to increase their presence and visibility. However, the best way for new businesses who are striving to improve their brand awareness is to follow the footsteps of leading brands who are market leaders.   

 

The Scope of Digital Marketing

The world is heading towards digital marketing at a pace never seen before. This is evident from the increasing number of people using social media and spending time on gadgets, propelling businesses to reconsider their digital marketing strategies for the better marketing of their innovations. Companies now have to map out their strategies using online as well as offline channels. If you too are inquisitive to learn about digital marketing then surely you have landed on the right page. Digital marketing is basically a form of advertising that companies use to promote their brand's products and services through digital channels such as emails, websites, social media and search engines etc. Let’s first discuss some of the major benefits and stumbling blocks of digital marketing before moving towards its scope.

Advantages of Digital Marketing

1.     Digital marketing has the advantage of worldwide reach which means that you can explore new markets through websites and mobile apps for the purpose of global trade without investing much.

2.     It can lower your marketing budget and cost if you wisely plan your digital marketing campaigns and target the right audience. By analyzing the website data you can have better insights regarding the measurability of your marketing tactics or initiatives. You can then alter and adjust your strategies keeping view of your business outcomes.

3.     The right digital marketing strategies ensure that the right customers or potential customers see and engage with your content. With the help of SEO you can reach them out as they search over the web for products and services that belong or are related to your business niche. You can manage your marketing budget and make the most out of it through your targeting tactics.

Disadvantages of Digital Marketing

1.     One blunder or a slip up from the company's end can adversely affect its reputation as customers are quick to react through their negative comments. If the company does not take immediate corrective measures they will eventually land in hot water. So openness and transparency in terms of your customer service in this digital era can be very risky at times. 

2.     With the rising global competition, it is becoming difficult to gain customer attention. In digital marketing terms, to get your message to your customers is a major challenge that many companies face today.

3.     In order to run successful digital marketing campaigns, high level training is required so that marketing staff possess all the relevant skills they need to efficiently deal with the challenges.

Scope of Digital Marketing

Globally, there are a growing number of jobs in the digital marketing field and in the upcoming years the demand for digital marketers will soar.

Certifications

For beginners, the best way is to take digital marketing courses from well-known institutes or certified experts. This will help them to learn the latest marketing tools and techniques.

Flexibility

There are multiple fields in digital marketing that you can opt for as a profession for example Email marketing specialist, Social media manager, SEO analyst, Content manager, Reputation management executive etc. But it all depends on your passion. You can not only make progress by learning new skills and tools over time, but the company might also offer you good remuneration packages with an annual increase in your salary.

Rising Job Opportunities

Many global brands and businesses have come to the conclusion that digital marketing is a reliable, lucrative and influential way to target their customers. This means that there is a high demand for proficient digital marketing professionals in the market as compared to other employment fields.

In the upcoming years, the dependency of businesses on digital marketing seems to increase and its future is clearly secure.

Top 6 Social Media Platforms for your Business

With close to 200 different platforms, social media has been swaying in present times, as businesses heavily depend on it for the promotion of their product and services. From home remedies and DIY activities to how to set up your business, social media has always proved beneficial, increasing business visibility, helping in lead generation and sales. Talking about China only, it has more than 1 billion active users on social media sites and platforms. Marketers see them as their potential customers whom they can bombard with messages and ads. In future, they might end up being their loyal customers. However, not all platforms will suit your business as everything revolves around your audience and hinges upon what you are selling. So let’s head towards the different options available for you to vend your products and services.

1.      Facebook

With technology evolution Facebook is no longer the top most socializing app. For many youngsters it is now old school and other apps such as Instagram, Tiktok, WhatsApp and Snapchat has taken its place. However, many businesses from industries such as ecommerce, entertainment, financial, retail, consumer goods etc. can still engaging with Facebook audience (particularly those who belong to the age group of 35 and above). Though, Facebook’s news feed reins back many posts related to business, but you can still target audience on the basis of gender, education, age, employment, product preferences and purchasing behavior. But all this depends on your social media budget and whether Facebook’s policies allow you to sell those products (For example the promotion of cigarettes, vape and tobacco related posts are not allowed).

2.     Instagram

Instagram is a budding platform, since it has 500 million daily active users, mainly youngsters belonging to generation Y and Z. It is mostly used by small and large businesses and influencers. Unlike Facebook, on Instagram you don’t have to pay hefty amount on advertising campaigns in order to increase your followers or reach. You can do this without paying for it (through friends, acquaintances, WOM and other means). Instagram also offers visual features, in which you can post photos and videos along with content, without much advertising budget. Your brand image and personality can be enhanced by user generated content!

3.     Snapchat

If your target market are the teens and youngsters, then snapchat can be an effective way to interact with them. They stay active on this app and on average spend at least 20-30 minutes on it, daily. People can share photos and videos on snapchat either directly to friends or through their snapchat stories which is visible for 24 hours. The discovery section of this app contains videos related to advertisements, influencers, DIY and much more. Users can subscribe to get daily notifications and companies can pay for their advertisements that pop up at user's screen while they watch videos.

4.     Tiktok

Tiktok is a new app as compared to other social media platforms. However, it has gained considerable growth in the last few years. It was banned in few countries like U.S and India because it was more misleading for youngsters than entertaining. The app was launched in 2017, since then it has become popular among generation Z. You can post a 15 second video and even earn through this platform. The visual element of this app has encouraged many people to share product related reviews, informative and entertaining videos etc. The only way you can market and sell your products on this platform is through lauded tiktokers or influencers.

5.     LinkedIn

LinkedIn focuses more on job oriented individuals or B2B model. You can reach out customers through their profiles, job title and position or email address. It is not an ideal app in terms of marketing campaigns like Facebook. However, professionally you can target, contact and hire people for jobs.

6.     Twitter

Recently, the number of followers on this app are fluctuating and the engagement has wavered a lot. But there is room for growth for companies belonging to tech, entertainment, marketing, sports or political field. Brands can interact and engage with their potential customers with the help of hashtags. Just like Instagram, they can easily reach you out and search for your products.

To sum it all up, there is an extensive list of social media platforms through which brands can hone and sell themselves. However, they must learn which platform is the best for their products by closely analyzing their target market and knowing what the particular platform is best known for.

 

mySPC LiveBlogging Schedule @cyberslate #SPC11 #SPC11LB #SPCRockstars (Via Marie-Michelle Strah)

Extracted from the original post “Welcome to sunny (at least for now!) Anaheim all!

Here’s my schedule for the conference – I hope to liveblog all events listed (unless waylaid by meetings or booth duty at Planet Technologies booth 156 !). Please also check out the Women in Technology #SPCRockstars panel tomorrow Monday October 3, 2011 at 10:30 a.m. PDT – I’ll be there at the Perficient booth 801 (this will also be posted after the event). For more information, please see:http://lifeincapslock.com/spc11-live-blogs-women-in-technology-and-cool

If you’ve got a great SharePoint success story to tell and would like to be included in the SharePointEduTech liveblog, please come see me at the Planet booth, at one of the sessions below or on Twitter @cyberslate and I’ll be sure to include you in that day’s posts!”

For complete post, click here.