Your Multichannel Strategy Needs a New Medium | Mann & Co. Inc.

Your Multichannel Strategy Needs a New Medium

Your Multichannel Strategy Needs a New MediumDoes your multichannel strategy need a new medium?

The great thing about multichannel marketing strategies is that they appeal to the sensibilities of the consumer. They like being able to learn about your product or service on their smartphone, tablet, and computer. They enjoy interacting with a company through different channels, whether it’s your website, emails, social media or otherwise.

To engage on many levels, it may require a more significant investment of time and resources. But the benefits are indeed there. Per ZoomInfo Blog, 50% of multichannel marketers say they usually or always hit their financial targets.

But how do you know when you should add another channel?

When You’ve Been Successful with Your Current Marketing Channels

Let’s face the facts. It doesn’t make much sense to add a channel if you don’t already have a good handle on your current multichannel strategy.

There’s a good chance you put a lot of research into your target audience (if you haven’t, you should). You’ve determined where they like to hang out online, and what their preferred channels are.

Assuming all these channels are producing results, you’re on track. But it’s possible you don’t have as much traction as you first thought you would on certain mediums.

So, does it make sense to add a channel when your current channels aren’t performing? It might make more sense to rethink your strategy on mediums that aren’t producing. And, if you’ve been at it for a while, and it’s not paying off, it might even make sense to cut off the underperforming units.

When a New Opportunity Presents Itself

New apps and social networks are launching all the time. Jumping on a trend may not always pay off, but there are some instances in which it would.

For the sake of your multichannel strategy, it’s a good idea to keep an eye on what’s happening online and off regardless, even if you don’t plan to take advantage of every new channel that comes along.

But let’s say a new social network launches, and it’s growing fast. And, its user base is primarily made up of people you would consider to be a part of your target audience. In that case, the possibilities may be worth exploring. You could simply keep an eye on the network, and if it seems like an excellent opportunity, you could be well-poised to take advantage of it.

This, however, should still be taken into consideration with other criteria mentioned here.

When Consumer Expectations Begin to Change

Being a laggard has few advantages in today’s market. There’s very little to no room for a Blockbuster in the age of Netflix.

Again, this isn’t to suggest that you need to give your multichannel strategy a makeover every time a new channel comes along. But sometimes there are bigger shifts taking place, and you need to be aware of these.

It’s hard to say what new devices, social networks, apps or other tech that could come along and change the game entirely. Now, there is a lot of noise about what’s to come, and this doesn’t always indicate a shift you need to begin embracing. But just as people moved from MySpace to Facebook, there are times when it’s important to reset and course-correct.

If your target audience wants to connect with you in a new way, it’s worth a serious look.

Final Thoughts

The key thing to understand here is that adding a new medium isn’t always a good idea. You need to commit to each medium you choose for your strategy. So, if you aren’t adequately set up to handle it, you’re not going to be effective with it anyway.

Do you think your multichannel strategy needs a new medium? When do you think is the right time to make the shift?

Let us know in the comments below.

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