Delivering your multichannel marketing objectives
The way we look at channels within marketing strategies has evolved over recent years. Today, measurement of success goes beyond simple performance metrics and well-defined KPIs are a first step to really knowing how channels are performing.
Many of us are already optimising our marketing channels to achieve objectives within the customer funnel. This includes:
- Generating demand by raising awareness
- Engaging with customers to increase consideration
- Converting demand in to a sale.
Key tips for developing KPIs
A key approach to building a true multi-channel marketing strategy is to understand the performance across your channels in a structured way: this means that you need to be clear about your key performance indicators. These are much more than just sales targets. If you really want to understand where you should be (and where you are), KPIs need to be refined as consumers go through the conversion funnel.
For this, you have to focus on what you want to achieve at the stages of the customer acquisition and sales conversion: For your general demand-generating channels, such as display, this means that you need to look at your reach in terms of your audiences, efficiency and response.
For consumers who have engaged with your brand, and are actively searching for information about your products, you should focus on the quality of engagement in your distinct channels, such as social, retargeting and email.
Finally, at the last stage of the funnel, you need to focus on how well potential customers are converted into buyers and the deal is closed, in channels such as PPC, aggregators and SEO.
Going beyond multichannel marketing
Keeping these KPIs in mind and monitoring performance against them consistently will allow you to unlock real insights on what’s converting your customers – and, most importantly, what isn’t. Equally, sharing this information across your channels will further improve conversion. Once you have mastered an integrated approach to marketing channels, you then open the door to increased sophistication and greater opportunities: enter audience-driven marketing.
Find out more at our Webinar
If you’re interested in finding out more on the topic of acquisition via multi-channel marketing, I will be presenting a webinar which will give insight into taking your multi-channel marketing campaigns to the next level.
Please join me on Tuesday 14th March for our webinar: register here:
Jonathan Grail, Associate Director, CACI Digital Consulting