Multichannel vs Omnichannel Marketing: Which is the Better Strategy for Your Business?
Does your business use a multichannel marketing strategy? Or do you use an omnichannel customer engagement strategy? Do you even know the difference between these two strategies?
On an almost daily basis, we hear about the ‘choice’ that businesses seemingly make between using a multichannel or omnichannel marketing strategy. A ‘choice’ which is based upon the incorrect belief that these two strategies have only very slight differences.
In actual fact, multichannel and omnichannel marketing strategies are like chalk and cheese.
They are two entirely different strategies that when implemented, will yield completely different results for your business.
So what is the difference between multichannel and omnichannel marketing and which better for your business?
Multichannel marketing refers to the strategy that businesses use to create and maintain a presence across multiple marketing and service channels.
These channels can include:
Through implementing multichannel marketing, your business has the ability to interact and connectwith prospective clients throughout their buyer’s journey.
By comparison, omnichannel marketing is a multichannel marketing strategy that aims to provide customers with a highly integrated and effortless shopping experience.
This strategy focuses on integrating their different marketing channels into a streamlined and seamless shopping experience regardless of whether they are shopping from a desktop computer, a mobile device or physical location.
The Difference Between Multichannel and Omnichannel Marketing.
So now that you know what multichannel and omnichannel marketing is, here are the key differences between the two strategies.
1. Tactical vs Strategic Objectives
Multichannel marketing is the key to spreading the word about your brand, product or service. Through utilising as many advertising platforms as possible, multichannel marketing aims to attract saturated coverage of your business’s marketing content in order to create high levels of visibility. Thus creating engagement with current and prospective customers still in the early stages of their buyer’s journey.
In turn, multichannel marketing is all about tactics.
Our social media-driven world has made it hard for businesses to attract and retain the attention of customers, especially those still partaking in their buyer journey. As a result, implementing an effective multichannel marketing strategy for your business requires a short-term view in order to appeal to your customer’s persona right now.
By comparison, omnichannel marketing focuses on longer-term objectives such as customer retention and customer relationship management (CRM).
Thus, omnichannel marketing is strategic.
An omnichannel marketing strategy places the customer at the core of the business’s operations and hence, it creates a customer-centric focus for your business. As a result, an omnichannel marketing strategy must be a well measured and calculated approach to ensuring the long-term success of your business.
2. Buzz vs Consistency.
With social media and email marketing listed as the top multichannel marketing techniques in 2018, there is no denying that creating engaging content requires your business to stand out from the crowd. As a result, many marketing campaigns are based upon harnessing the ‘mob mentality’ of social media and using it in their favour. In turn, many businesses that actually produce quality contentwill experience less favourable results than those companies utilising puffery in their content. Thus, many of these businesses will inevitably turn to clickbait advertising techniques in order to create engagement and develop visibility.
Omnichannel marketing, however,is about customer experience and consistency. This means that your business must develop a business-wide commitment to improving customer satisfaction. As a result, utilising an omnichannel marketing strategy requires your business to develop an interrelated and holistic strategy that creates an exceptional customer experience with every single interaction with your business. Thus, regardless of whichever marketing channel or service that your customer is using, you must ensure that your brand’s message is consistent.
Evidently, multichannel marketing is heavily focused on customer engagement which if left unmonitored, can create an inconsistent image of your business on different marketing channels which is highly detrimental to the effectiveness of omnichannel marketing.
3. Leads vs Sales
At its core, multichannel marketing focuses on creating new leads for your business to harness. It is about developing engaging content to connect with your customer’s persona through their buyer’s journey and reaching out to existing customers to encourage repeat purchases. However, at no point in time, does a multichannel marketing strategy convert leads to sales (nor does it claim to) and as a result, businesses that rely on this strategy alone will experience cart abandonment rates of over 77% according to research conducted by Statista.
But omnichannel marketing is a fantastic strategy to combat this problem.
Omnichannel marketing harnesses the information that you have already gathered about your customer and devises a personal approach to improve follow-through rates. For example, automated emails that remind customers about their abandoned carts and investing in targeted advertisements that provide a ‘timely’ reminder to customers about their unfinished order will help convert leads to sales for your business.
In turn, utilising multichannel and omnichannel marketing strategies in your business can complement each of their respective strengths and mitigate some of their shortcomings.
The truth is that most businesses tend to use a multichannel marketing strategy or an omnichannel marketing strategy.
However, these two strategies are very evidently different in not only their application but also in the outcome that will be experienced by businesses that use either of these strategies.
Thus, despite seeming similar, multichannel and omnichannel marketing are two very distinct strategies that should be used for two entirely different purposes.
If we had to choose, there is no denying that omnichannel marketing is our favourite sibling.However, if at all possible, omnichannel and multichannel marketing should be used together.
Through utilising these strategies, your business can engagecustomers and create leads through multichannel marketingandconvert those leads to sales as well as retain customers through omnichannel marketing.
As a result, implementing both of these strategies together in your business to form a holistic and integrated marketing plan is the most effective strategy for your business than simply choosing one or the other.
Multichannel vs Omnichannel Marketing. Who is the winner?
Are multichannel and omnichannel marketing strategies even that different? Here is what we have to say;
Is multichannel or omnichannel marketing a better strategy for your business?
Just how vital is multichannel or omnichannel marketing to your business? Is there even a different? Which is better for your business?
Multichannel and omnichannel marketing strategies have been long regarded as one and the same. However, these two marketing approaches are like chalk and cheese but when used together, can be a powerful marketing weapon for your business.
- Desktop Websites
- Email Marketing
- Mobile Applications
- Mobile Websites
- Paid Advertisements
- Physical Locations
- Print and Traditional Media
- SMS Advertising
- Social Media Platforms including Twitter, Instagram, LinkedIn YouTube and Facebook