LEWIS 03 Feb 2016 // 2:23PM GMT
Multichannel marketing is being where your customers are. And they are everywhere.
Not convinced? Multichannel customers spend three to four times more than single-channel customers do.
Research conducted by LEWIS explored multichannel marketing challenges and opportunities. The research, involving over 370 senior marketers across EMEA, APAC and the US, built a comprehensive picture of current approaches to multichannel marketing.
Multichannel marketing is being widely practiced, with almost one third (31%) of respondents executing seven or more multichannel campaigns in the last year. However, with only 30% of marketers experiencing successful results and ROI from campaigns, long-term investment remains an issue.
In our Multichannel Marketing Report, marketers cited the biggest challenges of multichannel marketing as:
- Lack of time and resources to develop and execute multichannel campaigns (23%);
- Lack of buy in at board level for investment (23%);
- Lack of investment in tools required for effective multichannel campaign management (21%);
- Lack of understanding on how to develop and execute multichannel campaigns (21%).
How to Successfully Implement Multichannel Marketing
Break down silos
Siloed working and lack of investment are the biggest blockers to effective multichannel marketing. In LEWIS’ study, less than half of all respondents (40%) and only one quarter (25%) of marketers in Asia Pacific reported being confident that their team structure effectively facilitates integrated campaign management.
“Breaking down siloes within marketing and communications teams is absolutely vital if brands are to execute truly integrated campaigns. There must be cohesion and collaboration amongst teams to ensure the campaign message is delivered consistently across all channels”, said Stephen Corsi, SVP, Global, LEWIS Pulse. “Marketers also need to invest sufficient time and resources into effectively measuring multichannel campaigns to demonstrate ROI, in order to build a strong case for greater investment moving forward.”
Go where your audience is
Research presented by Google at The Big Picture 2016 showed that new B2B buyers are getting younger. 40% of EU researchers are 18-34 years old. These digital natives have never worked in a time before email and are seldom separated from their smartphones.
Google’s research also showed 70% of B2B buyers watch online video when conducting research for business purchases. Yet only 17% of customers across Europe are satisfied with the quality of business related videos. This rises slightly in the UK, to 33% - yet that’s still a lot of potential customers who are engaging with content only to be disappointed with it. And potentially a lot of opportunity for your business.
According to eMarketer, mobile advertising in the US will jump to more than 60% of all US digital ad spend this year, surpassing desktop digital ad spend. Advertisers can finally reach almost anybody, anywhere and everywhere, simply by targeting their mobile phone.
Measure to improve
The research also highlighted that effective measurement is not practiced widely. 35% of marketers use measurement to track campaign results just for reporting purposes. 27% said they simply evaluate results post-campaign to report on ROI.
When asked if measurement insight is used to inform campaign strategy for future campaigns, 25% of marketers said they do this only ‘sometimes’.