The world of marketing has become incredibly complex and fragmented, and in order to stay competitive marketers need to master omnichannel marketing. This is no easy task.
An omnichannel strategy is one that puts the customer in focus, drives engagement through personalization and provides a unified view of the ROI delivered. A new study from Neustar surveys leading marketers about whether they are delivering a true omnichannel experience or not. The result is an Omnichannel Maturity Model that helps marketers assess their progress and success using explicitly measurable steps. The results of the study will be presented in detail during Neustar's upcoming webinar on March 25th.
Here are four areas in which the Omnichannel Maturity Model can help you evaluate the effectiveness of your marketing strategy:
1. Building bridges to connect channels
Perhaps the biggest impediment to cross-channel success has nothing to do with data or technology, but rather how teams are structured to support the channels. Each channel has it's own budget supported by people and resources. To truly deliver an excellent customer experience across all touchpoints—direct response, search, display, mobile, social, etc.—marketing leadership needs to empower teams to work together toward that common goal. Teams can then align to track results and strengthen measurement strategies and provide feedback on effectiveness. This will likely include the adoption of technology that enables fast reactions to consumer preferences, which allows your company to improve responsiveness over time.
2. How to begin recognizing customers
A Google study found that on average, consumers engage with eleven pieces of content before making a purchasing decision. Yet without centralized data to help understand consumer behavior and track interactions across channels, there is no way to effectively personalize these engagements. With an omnichannel strategy, there's a direct relationship between the increase of available information and your ability to provide deeper personalization for users. The next step is integrating CRM data, as well as creating benchmarks of success.
3. Cross-channel customer engagement
In reality, as the research indicates, many marketers struggle to track a customer or prospect as she moves from one channel to another. In other words, they don't recognize that Jennifer, the millennial mom, who just bought child-care products from the mobile app store on her smartphone is the same one who visited the website looking for child-care advice from her desktop browser at work a week ago. Not making that connection results in ineffective, out-of-context marketing messages. With this single, comprehensive view of your customers, you can create rich consumer profiles that can map to the interactions across channels. You can identify high value and low value customers and formulate your marketing strategies to match. The ultimate goal is being able to predict customer value by tracking trends over time.
4. Unify your measurement
The benefit of cross-channel unification and attribution is a holistic measurement that includes all channels. To achieve this, consider migrating to a model that allows you to optimize spending based on performance insights. This will help you see the bigger picture while comparing channels. You can then perform marketing mix modeling to calculate investment return and add attribution strategies across emerging channels.
The Omnichannel Maturity Model can help optimize your marketing strategy and reach customers on every level of potential engagement. Check out our webinar, "Measuring Omnichannel Success", to learn how our model can help streamline your marketing efforts.