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Technology is fast-evolving to marketing trends. Numerous marketing strategies are being introduced each year, bringing different results and reaching every business's optimum potential.
Along with the innovation of technology is the customer's high expectations of every business interaction. Customers expect businesses to understand who they are and what they want. They anticipate companies to bring immediate solutions to their problems. They look forward to a seamless, wonderful experience at every touchpoint.
To cater to a wide range of audiences, businesses nowadays employ either of the two famous marketing strategies - Omnichannel and Multichannel marketing.
While omnichannel and multichannel marketing may seem synonymous, they are two very distinct marketing strategies. They use different tactics and bring different results to businesses.
To determine which tactic is best for your business, it is essential to understand the meaning of both omnichannel and multichannel marketing first before deciding what marketing strategy to use.
Omnichannel marketing is a marketing strategy that involves interacting with customers via various channels and streamlining all channels to deliver a universal sales approach and bring an integrated customer experience.
The omnichannel strategy puts the customer at the center and unifies all the channels to enable a valid conversion.
Unlike omnichannel marketing, multichannel marketing is a marketing strategy that aims to interact with potential customers through numerous channels, including social media, email, landing pages, website, and physical store but with separate objectives for each channel.
Multichannel works independently from the other channels and abides by their individual outlined strategies. It means that each channel has its structure and income goals.
What is the exact difference between omnichannel marketing and multichannel marketing?
To determine the differences between the two marketing strategies and which is best for your business, you will need to understand their key differences.
The most notable differences between omnichannel marketing and multichannel marketing are how they engage the customers to the brand and the focus of the strategy. Omnichannel marketing is customer-based, while multichannel marketing is channel-based.
That being said, it means that omnichannel marketing focuses on the customers as the center of the marketing strategy, whereas multichannel marketing focuses on the channel used in marketing.
The omnichannel approach centers their attention on the customer to deliver an overall personalized customer experience throughout all channels.
The multichannel approach focuses on spreading brand awareness on different channels to attain the most customer engagements.
Since omnichannel marketing streamlines all marketing channels by integrating the same message, it provides consistency across all channels.
However, with multichannel marketing with channels working independently from each other, it results in unsteady interaction with the customers.
Since the omnichannel approach streamlines all channels together, it creates a personalized solution to the customer, resulting in an in-depth connection between the customer and the brand. The multichannel approach spreads the message and urges the customer to complete a call-to-action.
To fully distinguish further the differences between omnichannel and multichannel marketing, let's take a more in-depth look at the following examples of how these two marketing strategies work.
When a business employs an omnichannel marketing strategy, here is what it looks like.
A potential customer visits your website and looks at a product. They leave your site without completing a purchase. When they go to social media, like Facebook, they see a retargeted ad of the product with a promotional offer. Since they are interested in the product, they click the ad to get more information and are taken to a optimized landing page.
On the landing page visit, they enter their email address on the contact form. A day after, they receive an email that details the key features of the products they are interested in. The potential customer clicks on a call-to-action for the product. They then visit another landing page of a new product and receive a new promotional offer.
Instead of buying through the website, the customer decided to visit a physical store. At the store, the sales assistant is immediately able to view the customer's interaction with the company online and continue the process in person. When the customer completes the purchase, the second promotional offer presented online is automatically applied.
After the purchase, all marketing will then shift from the top of the funnel to retention. It will now focus on continuing the relationship with the customer. That's how omnichannel marketing works.
If a business employs a multichannel marketing strategy, then a specific channel will have its offers different from the other channels.
Fo example: a business has a mobile application. That business will encourage their app users to engage more with their business by giving a reward once they purchase through the app.
Since multichannel marketing is channel-based, customers need to go to a specific channel to find the information they want.
Both omnichannel and multichannel marketing are beneficial to any business, depending on its size and budget. However, given the advancement of the technology and the customer's high expectations on every business, it's undeniable that omnichannel marketing strategy wins the battle.
With today's plethora of devices, it is crucial to adapt to the current changes and be on top of the marketing game.
Omnichannel marketing enables a business to know its customers personally, effectively promote brand awareness, and strategically create sales opportunities.
Using multiple channels to market your business is certainly not bad, But the goal should be connecting them to bring optimum results to the marketing campaign and increase revenue.
The following are the benefits you will reap once you employ omnichannel marketing into your business.
Omnichannel and multichannel marketing are indeed two kinds of marketing strategies with different techniques and results. Any business can leverage their benefits depending on their objectives and marketing budget.
But omnichannel marketing allows your business to escalate at a greater height. Omnichannel marketing enables a unified and seamless customer experience across all channels, thereby improving customer loyalty, brand awareness, and sales conversions.
At Auditeers we help brands implement and measure omnichannel marketing campaigns ans increase efferts by using smart technology and data. Interested in our approach? Contact us for more information.