This title doesn't make any sense. But the point is that integrated and multi-channel marketing are not the same thing. However, today they are used almost interchangably. And the biggest culprits are advertising agencies and marketing companies. I know because I've worked on the agency side for over 10 years . . . for many they are little more than buzzwords. Everybody wants to be integrated, whatever they perceive that to mean.
Well, here's the difference. To be integrated means to project the same, consistent, unified message throughout your communications. Whether your message is "value", "quality", "speed", "convenience", etc., integration speaks to the common thread that runs throughout your marketing efforts.
With this definition, you can probably see how the word "multi-channel" is clearly different. Multi-channel means simply to utilize various sources, methods, tactics, or technologies to reach your target audience. In marketing speak, it is using the various channels available like direct mail, email, websites, paid and organic (SEO) search, banner ads, social media, TV, radio, call centers, mobile messaging, out-of-home advertising like billboards, point-of-sale (POS) displays, street teams, and the list goes on.
This is why the the phrase "integrated, multi-channel marketing" is perfect but either term without the other is incomplete. Integrated, multi-channel marketing is the second most powerful strategy in all of direct marketing. But don't take my word for it. Test and prove it for yourself in your own business.
More in future posts on what the #1 most powerful strategy is.
Thursday, May 28, 2009
Thursday, May 21, 2009
Transaction or Interaction?
Have you heard somebody say “if I had a quarter for every time X happened, I’d be rich”? Well, if you had a quarter for every separate interaction that you have with your clients, you’d be even richer!
The point is that in business, our customers interact with us a whole lot more than they transact with us. That is, they spend much more time visiting our store, browsing our website, talking to our sales people, and researching our products/services than they do actually buying. The point-of-sale itself, is just a brief moment by comparison. Yet, when it comes to marketing, that’s really what we spend at least 90% of our energy on – trying to drive and stimulate that all-important transaction. Some research suggests that consumers spend an average of 3 days comparison-shopping and researching prior to making an actual purchase. And the amount of time spent prior to purchase increases for higher-ticket items. We’ll do our homework carefully before buying a car, a house, even a nice jacket. But for a candy bar or pair of jeans, we’ll spend much less time in the pre-purchase phase.
So, here’s the dilemma. Why are marketers spending all of their time and focus on the customer transaction, if that represents only 5-10% of the time that the customer is spending with their brands? Because that’s when the money changes hands, that’s our livelihood, our bread-and-butter. But shouldn’t we care as well in all of that up-front planning, pre-purchase research, and comparison-shopping as the buying customer is? We should. It’s really the incubation period of a new customer relationship. It’s when you are top-of-mind, squarely within the customer’s consideration set, and are best positioned to “close the deal.”
The point is that in business, our customers interact with us a whole lot more than they transact with us. That is, they spend much more time visiting our store, browsing our website, talking to our sales people, and researching our products/services than they do actually buying. The point-of-sale itself, is just a brief moment by comparison. Yet, when it comes to marketing, that’s really what we spend at least 90% of our energy on – trying to drive and stimulate that all-important transaction. Some research suggests that consumers spend an average of 3 days comparison-shopping and researching prior to making an actual purchase. And the amount of time spent prior to purchase increases for higher-ticket items. We’ll do our homework carefully before buying a car, a house, even a nice jacket. But for a candy bar or pair of jeans, we’ll spend much less time in the pre-purchase phase.
So, here’s the dilemma. Why are marketers spending all of their time and focus on the customer transaction, if that represents only 5-10% of the time that the customer is spending with their brands? Because that’s when the money changes hands, that’s our livelihood, our bread-and-butter. But shouldn’t we care as well in all of that up-front planning, pre-purchase research, and comparison-shopping as the buying customer is? We should. It’s really the incubation period of a new customer relationship. It’s when you are top-of-mind, squarely within the customer’s consideration set, and are best positioned to “close the deal.”
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