Market Research

Omnichannel Marketing vs. Multichannel Marketing: Who’s Winning the Game?

Omnichannel marketing today is more than just a buzzword. Brands across the spectrum are leveraging wide-ranging benefits from this holistic marketing strategy.  A study by Emarsys claims that “Companies who have deployed a well-defined omnichannel customer experience strategy have achieved up to 91 percent higher year-on-year increase in customer retention, in comparison to organizations who don’t incorporate an omnichannel strategy.” Clearly, omnichannel strategy is a winning combination – capable of endearing customers and boosting a company’s bottom line. But what does an omnichannel experience truly entail? Omnichannel marketing is a ‘multichannel’ sales strategy whose end-goal is to offer customers seamless shopping experience across online and offline platforms such as desktop, mobile apps, websites, in-store, among others. Oftentimes, the terms ‘omnichannel’ and ‘multichannel’ are used interchangeably, and wrongly so. Fundamentally, they’re very different from each other (as you’ll see below). Here are the key differences between these two marketing routes: Omnichannel Marketing Vs. Multichannel Marketing: A Comparison Essential Features of an Omnichannel Marketing Strategy 1. Audience Segmentation  Audience segmentation is to omnichannel marketing what compartments are to your closet – absolutely essential. If you don’t spend time understanding and segmenting your audience accurately, you run the risk of targeting them blindly. Plus, by truly understanding what your target audience looks like, you can think of ways to bring real value to the table, or, in this case, the channels.  Here are different ways to collect data and gauge your audience’ likes, preferences, habits, etc. in a value-driven manner: Surveys and polls […]