Importance of Multi-channel Marketing for B2B businesses :
Are you struggling to grow your business to its maximum potential?
Are you left behind in the race of attracting more customers than your competitors?
In both these cases, Multi-Channel Marketing can be your saviour.
What is Multi-Channel Marketing?
Multi-channel marketing is the strategy used by businesses to interact with customers through multiple channels that include both direct and indirect marketing channels.
This strategy effectively and efficiently communicates a product/service’s value using the unique strengths of a specific marketing channel.
Some of the marketing channels used by B2B businesses are websites, social media, email marketing, newsletters, etc. (see image below)
Why is multi-channel marketing important?
It is an undeniable fact that pandemic has changed the way of marketing. Not just businesses, but also customers have embraced digital tools and platforms. Everyone is just bombarded with innumerable search options online. That’s the reason multi-channel marketing has significantly gained popularity. Here we would like to take you through five simple factors of why multi-channel marketing is essential.
1) The lifetime value of the customer increases by 30% if the brand uses multi-channel marketing.
2) Buyers prefer to research multiple channels before buying a product/service.
3) Not all the target customers are on a single platform. So, to grab the attention of maximum target customers, the presence on multiple channels becomes essential.
4) The number of channels is proportional to the number of leads generated in the business.
5) It helps the sales team to close deals in a shorter period of time if the brand uses multi-channel marketing.
The statistics below are evidence of how multi-channel marketing has evolved and established a strong position in the digital world:
- 51% of companies today use at least eight channels to interact with customers.
- 52% of marketers use three to four marketing channels compared to 44% in 2015.
- 67% of B2B buyers rely more on content to research and make purchasing decisions than they did a year ago.
- 72% of consumers say they prefer to connect with brands and businesses through multi-channel marketing.
- Businesses with multi-channel strategies retain 89% of their customers.
- 90% of customers expect consistent interactions across channels.
- 9 in 10 brands report that a multichannel strategy gives them higher sales.
Are you using multiple channels for your B2B business? If so, what are they? Comment below.
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