Multi Channel Strategy. Balance Your Budget And Maximise Results.

Have you got the right multiple-channel digital strategy for your business?

With so many channel agencies proposing different options, how do you effectively balance your ad budget to maximise results?

Interpreting Marketing Data and devising Insights is key to understanding your business growth opportunities and developing a multi-channel media strategy. If you need guidance reach out to us, we are an Online Marketing Agency in Melbourne. This is what we do all day.

Take a step back

If you reflect on your own experience, how often do you browse online and then make a purchase in-store? How often have you purchased on line and remembered that there was a reference to that product in an online review, or that you actually first saw the product on a friend’s social feed.

The purchaser’s journey is now truly across multiple channels, and your customers will have choices from, and relationships with, multiple competing brands.

Rarely will you own a customer relationship exclusively, and rarely will you engage in a one-on-one conversation with them where they are focused solely on your product or service. Because of this, we must create opportunities to grab snippets of their attention, at strategic points where their interest is at its peak.

Strategy

At its most effective, digital marketing should be about promoting specific messages at strategic points of a customer’s purchasing journey.  These messages need to be relevant to them at that part of the journey.

So, the question is not which channel is best for this, but what is the right mix of channels to be present on. Testing and learning helps to understand your own Marketing Data and Insights from which you can tailor strategy to suit your business uniquely.

Tabled below is a useful channel strategy check list.  It maps the channels to the sales journey of a typical customer, and describes what is relevant, and therefore most effective, for a brand, as they go through the different channels in the purchasing journey..

channelmost effective for brandrelevant for customer
native1. awareness/brandinginformation & brand recognition
display-acquisition2. education/interestchoices & options
display-retargeting5. conversionprice and value
search3. comparison/optionschoices & option
search shopping ads4. consideration/evaluationoptions & prices
social1. awareness/brandingtrust & social proof
social shopping5. conversionoption & prices
email4. consideration/evaluationchoices & prices
video2. education/interestentertainment & education
SEO4. consideration/evaluationchoices & brand recognition
TVC1. awareness/brandinginformation & brand recognition
print/letter drop3. comparison/optionschoices & option
Influencers2. education/interesttrust & social proof

Channel strategy calculator

You can use this as a calculator as a useful tool when developing your digital strategy.  This calculator can help determine where your marketing investment should be directed.

As a simple exercise to test how well your current strategy is working, write down the percentage of total marketing dollar spent last month in the last column.

Ask yourself, is the channel where my customers are, and is my message relevant to them when they are on that channel?   This simple exercise will confirm if you have the best channel mix that is appropriate for your strategy and desired objectives.

Next steps

For an in-depth analysis of your current strategy, contact us.