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.
