A Strata YouTube Channel Original
Multichannel campaigns can be complicated to create, and once you create them, even more work needs to be put in to make them as effective as possible. In the last YouTube video of our Multichannel Marketing series, we’ll go through how to optimize your multichannel campaign for the best success and highest ROI.
What’s an Optimum Multichannel Campaign?
An optimum multichannel campaign is a campaign or workflow that converts every possible campaign member. Keep in mind – that doesn’t mean every person in the campaign, as there will always be some members that are truly impossible to convert. Why? Things happen. People start new jobs, financial positions change, people move, etc. The list goes on. The point of optimization is to optimize for what can be controlled, and in this instance, that’s the customer journey or workflow.
Two Categories of Multichannel Campaign Optimization
- Theoretical: This category happens before starting your campaign. It’s the last but usually the most time-consuming portion of actually building your workflow. It’s done through effective use of assumptions and historical data from similar campaigns. The steps to do this? Assign estimate conversion rates to each of your workflow components and then use them to calculate expected conversions – taking the output of one component as the input of the next. Although it’s very time consuming, it’s worth it in the end. Theoretical optimization helps you optimize both your campaign and create stronger projections for your campaign’s performance.
- Empirical: This category happens while the campaign runs. Instead of using historical data from other campaigns, you’ll use historical data from this campaign. So, factors like audience and creative can be held constant. You’ll still go through the same process – assigning your empirical conversion rates to each of your components, and going through the calculations to more accurately predict overall campaign outcomes. Measure your component’s KPIs while simultaneously updating projections based on the changes to your workflow.
To hear from our Director of R&D, Harrison, on what else you’ll want to do, as well as what tools you can use to optimize your campaign, click on the video below. Or, if you’d like to discuss multichannel marketing optimization with one of our experts, contact us today.
A Strata YouTube Channel Original
In this ever-changing market, not even a marketing genius can accurately gauge performance of a multichannel campaign without organized, analyzed data across channels. That is why setting and tracking key performance indicators (KPIs) is very important. Follow along as we walk you through a few things to keep in mind when establishing and understanding KPI’s for your multichannel campaign.
What’s a KPI?
Like we said above, KPI stands for key performance indicator. It’s a quantifiable measure of performance over time for a specific goal. In this case – that goal is multichannel marketing success. KPIs lay out marketing goals in the form of specific milestones to calculate progress and insights, and these insights help marketers make better decisions. In order for KPIs to be successful and helpful, a marketer or team of marketers needs to handle and record analytics from several touch-points. Without KPIs there’s no way to accurately and effectively measure the efficiency of your multichannel performance.
KPIs at Their Core: Layer One
There are two levels of KPIs for multichannel campaigns. The first layer is the component layer, and it’s used to analyze the individual components of a campaign. This layer helps establish realistic goals for the campaign and provides low level insight to analyze and optimize as your campaign progresses. Conversion rates vary by standards like industry and medium, which are easily researchable.
Yet, actual conversion rates have huge ranges based on the nature of your call to action – like your messaging, imagery, and your audience, and which segment of the funnel they’re in. If your campaign’s messaging can be considered “industry standard”, save yourself some time and use an average conversion rate, even if it looks low.
Further into KPIs: Layer Two
Want to learn about the second layer of KPIs, and how to establish them for your next multichannel campaign? Click on the video below and hear more from our Director of R&D, Harrison. Or, if you’d like to discuss this concept with one of our multichannel experts, contact us today to get your next (or maybe your first) multichannel campaign started.
A Strata YouTube Channel Original
Choosing the right multichannel campaign mediums can be difficult if you don’t have a good starting foundation and the right tools. That’s why, in our most recent YouTube video, we walk you through the key things to keep in mind when making this decision, and how to pick channels that best fit your company’s marketing needs.
Evaluate Your Brand & Customers, First
Before you even look at where your audience is and what they want, look at your own brand, brand voice, offerings, and then your target audience. Once you have these nailed down, then you can think about your customers – because if you understand your customers, you can understand where it’s best to communicate with them. Get to know your customers on a deeper level through data and tracking so you can develop personas and demographics, and fully recognize their pain points, wants, and needs. Test and measure tactics, update and reaudit your customer experience, ask for customer feedback – whatever you need to do to truly know your audience and therefore get the most out of your multichannel campaign. After all, 86% of customers are willing to pay up to 25% more for products and services just to have a better customer experience. Once you know your audience, then, and only then, can you figure out exactly where to meet them on their multichannel journey.
If you want to know what comes next in choosing the right mediums of communication for your multichannel marketing campaign, click on the video below and hear more from our Marketing and Social Media Coordinator Bridget. Or, if you’d like to discuss this concept with one of our multichannel experts, contact us today to get your next (or maybe even your first) multichannel campaign started.
A Strata YouTube Channel Original
We’ve all heard the saying “know your audience” before, but what does it really mean, and how will it help you plan your next multichannel marketing campaign? In our most recent YouTube video, we dive into some tips & tricks for targeting your perfect multichannel campaign audience.
Really Know Your Audience
Before you even start your campaign, you need to nail down who your audience is and why you’re targeting them. Recent surveys show that 74% of consumers get frustrated when they receive content that has absolutely nothing to do with their interests, which is the main reason companies are quickly switching to multichannel marketing campaigns – designed to be customer-centric, provide a top-tier experience, and drive high ROI. But success still comes down to how well you know your audience, which is why it’s so important to create accurate customer personas. A persona is simply a fictional character that represents the ideals and motives of your target audience. Some common (and extremely useful) research tactics to create correct customer personas are researching buying habits, consumer preferences, search behaviors, and communication methods. Don’t limit yourself to just one persona if it’s useful to create more! You can utilize several different personas depending on how diverse your target market is. It’s important to think beyond your “classic customer,” and diversify your buyer profiles.
The Buyer Journey
Outlining and creating a framework for your buyer’s journey will dramatically affect your sales. Some key questions to ask yourself to understand their journey are:
- “What purchases are being made?”
- “Where are the purchases coming from?”
- “How are they making purchases?”
These questions will help you build a premium customer experience from campaign start to finish. The more data you’re able to acquire on their buying habits/decisions, the better you’ll be at mapping out their customer journey. After narrowing down your audience, you can better source all imagery, content, and workflows they’ll come across throughout the campaign.
Want to learn more about perfecting your multichannel marketing audience? Click on the video below to hear more on this topic from our Marketing and Social Media Coordinator, Bridget. Or, if you’d like to discuss this concept with one of our multichannel experts, contact us today to get your next (or maybe your first) multichannel campaign started.
A Strata YouTube Channel Original
When building a multichannel marketing campaign, one of the first steps is to build a cost structure to set the direction of the project. If you don’t plan ahead, costs can add up quickly, so to help you out, our most recent YouTube video goes over the different costs behind a successful multichannel marketing campaign and how to make your next campaign both cost effective and impactful. Let’s go ahead and take a look at the first cost of a multichannel campaign.
Platform Cost (Managed Service Cost)
Picking a strong technology platform is a make-or-break decision that will determine how successful your multichannel campaign will be. Effective and coordinated multichannel marketing is only made possible through technology, so it’s essential you have access to it. A recent survey revealed that 52% of marketers utilize 3 to 4 marketing channels in one campaign, so the correct platform that can properly track and execute a campaign on many channels is imperative. If this is your first rodeo, pick a vendor to coordinate and manage these campaigns. Doing so will essentially convert the majority of the upfront costs to variable execution costs and will make the campaign easier to manage. Make sure the platform you choose properly aligns with your business strategy, as only 16% of marketers claim they have this alignment. Generally, your company should budget between $20k and $40k for a solid, multichannel-capable platform that will get the job done.
Want to learn about the two other costs associated with multichannel marketing campaigns? Click on the video below to hear from our Research & Development Director, Harrison. Or, if you’d like to discuss this concept with one of our multichannel experts, contact us today to get your next (or maybe your first) multichannel campaign up and running.
A Strata YouTube Channel Original
Choosing the right multichannel campaign provider can be difficult, especially if you don’t know exactly what you need. Come along as we walk you through a few things to keep in mind when making this decision and understanding what best fits your company’s wants and needs.
Research, Research, Research
When searching for a multichannel provider, make sure you’re choosing one that understands the size of your business, your budget, and your end goals, and one that has experience in every aspect of multichannel marketing, not just one. If you’re stuck, it can be helpful to ask yourself the following questions before getting started; What is the size of your industry? How have sales been? What goals does it make sense for your company to set? It’s important to define your business objectives before starting to search for a partner. At the end of the day, your team members are the only ones that truly know your company, so the more you provide these possible vendors and the more you research, the better.
Data Optimization
You know what they say… you’re only as good as your list. Partnering with someone that has the ability to enhance, enrich, and fill the gaps within your data is key. You don’t want a one size fits all approach, because each company is different. Without data, you’ll never know what’s working and what’s not. Crafting not only a list but a targeted list will make all the difference. That includes demographics, psychographics, behavioral, and B2B firmographic info. Considering 51% of companies today use at least eight channels to interact with customers, why wouldn’t you want to start using multichannel marketing?
Want to learn more about the other two components to consider when choosing your multichannel campaign vendor? Click on the video below and hear from our Marketing Manager, Caitlin. Or, if you’d like to discuss this concept with one of our multichannel experts, contact us today to get your next (or maybe your first) multichannel campaign started.
