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POWER READ


Multi-Channel Marketing Masterstroke

Jan 8, 2020 | 9m

Gain Actionable Insights Into:

  • The most effective channels to choose for your marketing strategy
  • What the second or third order effects are, and how they influence channels
  • Maximising your time and increasing your efficiency in marketing

01

Planning Your Multi-Channel Marketing Strategy

With mobile networks and smartphones all around, our media consumption habits have evolved. We are no longer glued to a single screen. Our attention is divided to two screens or more! In a 2018 report by Nielsen, 45% of adults in the US regularly check their phones while watching television. This phenomenon is coined as second screen viewing.

As a business, you should be capitalising on this behaviour by implementing your marketing strategies on a variety of channels and platforms. It’ll help you to engage and reach out to more customers on their preferred channel. According to research by Invesp, companies that engage with their customers across multiple channels have a loyalty retention rate of 89%.

Coherent Messaging

When you are structuring your multi-channel plan, you need to be certain that your brand messages will be consistent and coherent across your different channels. As I’ve mentioned in my other book, you have to ensure that the tone of voice and visual imagery is aligned with the brand guidelines. So before you start planning your strategy, you need to do your homework by clearly positioning your service or product, and the values for which your brand stands for. Eventually, you’ll end up with a fixed tone of voice and visual language for your brand.

Choosing and Prioritising Channels

With such a wide selection of channels to choose from, you need to narrow down your options by considering your given budget and customers’ profiles. I will list down some channels that are worth considering, in order of decreasing efficiency. Ultimately, if your product or service resonates with your customers, they will still come to you even if you don’t choose the ideal channel mix.

1. Video Advertisements

If you think a carefully crafted 2000-word blog post is going to impress your customers, good luck.

An engaging, relevant and short video will deliver your message better than anything else. Whether your customers are in line for a coffee at Starbucks or waiting for their public transportation, their eyes are transfixed to their smartphones. They’ll be busy scrolling through social media and watching videos that pique their interest. And that’s when your advertisement pops up and they are inevitably exposed to your brand.

With a video advertisement, you can easily customise and adapt it to fit any given format. It’ll get you the most bang out of your buck too, as you can just repurpose that one video for any channel, medium or platform. You can shorten it for YouTube, change it from landscape to portrait for Instagram, or add extra footage if necessary. Needless to say, a well-produced video usually does not come cheap, but it is worth every cent.

2. Email and In-App Communication

Despite the amount of spam and unwanted emails we receive every day, direct email marketing is still a relevant way to influence your target customer. It’s an art to craft these emails in a way that nails the creative idea and shares useful information, so that it doesn’t end up in the spam folder.

When writing these emails, you need to align your content to the recipient's context. Put yourself in your customers’ shoes and ask yourself what could be at the top of their minds as they move in and out of the conversion funnel, and then plan your content accordingly. A top of the funnel prospect is not yet ready to buy and thus requires more educational content. As you go down the funnel, you can use sales-oriented communication, since you have nurtured your lead well.

If you have a mobile application, you can take the additional step of using push notifications and in-app messaging to interact with your users. Recently, I read an article that said the lock screen of your phone is your new inbox, I couldn’t agree more.

3. Roadshows and Webinars

Having face time with your customers is important, especially when there’s a need for a high level of trust to sell your offering. All you need is a spacious venue, a memorable pitch deck, and an excellent presentation. They all sound fairly simple but difficult to master. Because, when creating them, usually you focus on the content and ignore ancillary things like audio quality, lighting and video quality, props and frame composition. By investing a bit more in audio and tech equipment and paying extra attention to how you frame the subject in your video, your videos will be of better quality. Remember that the video will live on the internet forever, so you should put out your best effort.

Organising a roadshow is time and energy consuming, and it's not scalable. But it does a good job in appealing to the audience’s emotions and creating demand for your offering. Alternatively, you could host a weekly webinar if there are too many constraints for a physical event.

4. Marketing Offline

Even if all of your customers are all on digital platforms, there is still a place for marketing and advertising on offline channels such as Out-Of-Home (OOH) media, radio, cinema, and snail mail. These channels are considered old-fashioned and are often overlooked by online businesses, but this is exactly why they might work for you: your digital competitors ignore them. If your competitors are all marketing digitally, then it could be the right opportunity for you to try offline channels.

Out of all the offline channels, OOH media is a stand-out performer. Not only does it have the lowest cost per impression compared to other channels, OOH advertising revenue has shown consistent growth over the years. In 2018, Out-Of-Home Advertising Association of America reported that OOH advertising revenue increased by 4.5% compared to the previous year.

Besides building brand awareness, choosing OOH media sends a message to your customers that you’re reputable. If you look at the types of companies that advertise on traditional media, you’ll find well-established organisations such as banks, multinational conglomerates, and government agencies.

Measuring the Channel’s Effectiveness

The first step to measuring effectiveness is to understand how your customer found out about your business. From this piece of information, you would have a better gauge of how to budget for your channels. However, it can be a challenge to truly measure the effectiveness of your chosen channels.

To do so, you’ll have to understand the second and third order effects of these channels. Sometimes the benefits of a particular channel can’t be taken from face value: one channel could be influencing the effectiveness of the other.

For example, the advertisement that you had placed in an MRT station might be influencing people to log into Facebook to check out the advertisement you put up on there. Subsequently, your Facebook advertisement might convince the same people to subscribe to your newsletter. These are second and third degree impacts respectively.

The degree of second and third order effects can be very difficult to assess. By pulling out an advertisement from any channel, the results of the other advertisements could be affected too. You might have to laboriously go through numerous cycles of pulling out from one channel at a time and evaluating the impact of the taken down advertisement.

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Thinkfluencers

Filippo Stefanelli

CMO

StashAway

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Marketing Strategy