Multichannel marketing: stages of strategy development
Multichannel marketing is an advertising strategy that uses different digital channels to reach as many potential customers as possible. There are a number of issues to consider when implementing this approach. First and foremost are business objectives and demand analysis. But other factors also come into play.
Stages of a multichannel marketing strategy development
A multichannel strategy consists of successive stages, each with its own characteristics.
- The work starts with a general analysis of the market situation, studying the competitors and the company’s position within this ecosystem. At this stage, it is necessary to understand the company’s marketing objectives and how to achieve them. It also involves drawing up a portrait of the target audience and identifying the company’s advantages over its competitors in the market. In this case, it is important to understand the consumer’s needs and wants and to analyse their actions and motives.
- The second stage is the development of the CJM and the overall strategy. Here, specialists must formulate the main tasks and methods for solving them. The overall vision (project vision) describes the advertising campaign with clearly defined key points and business objectives. It considers aspects such as the time it takes to make a purchase decision, the product’s profitability, the conversion rate and so on. This stage also involves working with Google Analytics, CRM systems and other analytics tools.
- The next step is to create a strategy and roadmap. In this case, it is necessary to note how to carry out the step-by-step process of implementing the different communication channels. For which of them and in which period it is necessary to increase efforts. This stage of the multichannel strategy should be a detailed description of all the technical nuances.
- The final step is to find a method for managing the strategy. Here, it is important to regularly analyse the campaign’s progress and check its results against the objectives. If necessary, changes should be made to increase the effectiveness of the promotion. You should not be afraid to change the tactics of your marketing efforts. They should be long-term.
The approach to multichannel marketing will be different for a new company and one already established in the market. In addition, it is necessary to build the right interaction with the customer, taking into account their readiness to buy. It is vital to choose the methods that will be effective separately for warm and hot audiences.
