In this technically advanced world, most enterprises struggle to fetch the best out of their online presence. Marketing strategy is one critical component that determines the performance of your eCommerce business.
What is Marketing Strategy?
In simple words, Marketing strategy refers to a business approach of reaching out to potential buyers and turning them into customers. It comprises the company’s value proposition, fundamental brand messaging, important data on target customer demographics, and other useful elements.
One thing that you can’t ignore while defining your business’s marketing strategy is customer preferences. Your customers aren’t restricted to one platform, in contrast, they would prefer to continuously switch between their social media feeds, email inboxes, SMS messages, and numerous other channels when online.
To get desirable results from your marketing strategy, you need to smartly operate & integrate these channels. By doing so, you can boost customer experience and simultaneously increase the Return on Investment (RoI) for marketing. Let’s look at both marketing approaches.
Omnichannel marketing is a marketing strategy that points to the integration of various channels utilized by enterprises to interact with their customers. The objective of such a marketing approach is to provide a flawless purchasing experience for customers. With Omnichannel marketing, businesses can seamlessly create unified messaging, promotions, and campaigns simultaneously across different channels like Social media, eCommerce, Chatbots, PPC ads, SMS, Website, In-store, Blogs, and Email.
Benefits of Implementing Omnichannel Marketing
- Unified Brand Presence: Omnichannel marketing ensures a consistent customer experience across different channels by promoting common touchpoints in the customer journey.
- Increased Conversions: Integrating marketing channels facilitates consumers to complete their purchases from anywhere. You are not restricting your customers to buy only from limited channels but offering them to choose from profuse channels. Hence, customers can quickly checkout via their smartphones, ads, or websites.
- Boosted Sales: With accurate unification and personalization, your business can effectively boost sales. Omnichannel marketing leads to higher engagements which increases both conversions and RoI for your business.
Multichannel Marketing is a marketing strategy that reflects selling a product or service via multiple channels that are segregated and operate independently. It facilitates each channel to operate using separate strategies. The objective of Multichannel Marketing is to attract more & more customers by incorporating different promotional channels. This type of marketing approach comprises different promotions on each channel, minimizing cross-channel promotion.
Benefits of Implementing Multichannel Marketing
- Priorities Sorted: Multichannel marketing assists in sorting priorities as it enables you to focus more on the best-performing channels. It means such strategies are suitable for those businesses having limited time & resources.
- Product focus: Encouraging your brand’s product becomes effortless with Multichannel marketing. This makes it a popular option for eCommerce brands that sell on websites like Amazon, eBay, Etsy, etc.
- Process Streamlining: Multichannel marketing promotes strategy simplification as it removes all the complications. Even if you are planning to move on to Omnichannel marketing, opting for multichannel marketing furnishes you with early wins.
Omnichannel or Multichannel Marketing: Which One To Choose for Your Business?
Although both Omnichannel and Multichannel marketing encourage brand promotion on multiple platforms, here’s what makes them unique-
- Focus: Omnichannel focuses more on customer experience, whereas multichannel lays focus on the brand and product.
- Integration: Omnichannel requires all channels to follow the same strategy, whereas multichannel permits each channel to operate independently.
You must consider your existing business resources and future requirements while choosing the right marketing approach. You may get assistance from Adobe Marketo Engage which is a great tool that assists you to bring the most out of your marketing campaigns.
Doesn’t matter which marketing approach you decide to go for, opt for our top-notch services to get the best out of it. magePoint is a leading Magento development company with over 9 years of experience. Our team is well-versed in the implementation of marketing strategies and provide useful insights to make it even more effective.