What’s in a name? Multichannel vs Omnichannel Marketing

March 13, 2018 | Jason Kay

Marketing is an industry full of buzzwords, and at first glance the terms multichannel and omnichannel marketing seem to be describing the same thing. Both involve reaching out to customers in a variety of ways, and both involve keeping those touchpoints consistently awesome. While there are similarities there are also significant differences. Marketers need to know what those differences are so that they decide which goal to shoot for.

So what is the difference between multichannel and omnichannel marketing?

Multichannel marketing involves communicating with customers across multiple platforms and channels. It increases brand presence and gives customers the ability to choose their own favored method of interaction and engagement. Which is good, because 98% of Americans switch between devices multiple times in a day. A consistent multichannel experience makes it easier for customers to reach out to the brand when they’re ready to buy.

Omnichannel marketing is multichannel marketing evolved into its purest and most ideal form: a consistent and cohesive customer experience across all channels and types of engagement. It covers every possible interaction with the customer across all channels, from pre-sales to post-sales and everything in between. Every single touch point with the customer has to be seamless and generate warm and fuzzy feelings of satisfaction.

Is omnichannel marketing worth it?

If omnichannel marketing sounds like it’s a lot of work, that’s because it is. Maintaining that level of consistency across multiple channels, platforms and teams is extremely difficult. 61% of customers can’t easily switch from one channel to another when dealing with customer service. Most companies simply don’t have the infrastructure or process required to make omnichannel work.

But the payoffs are enormous when it does work. Businesses that successfully adopt omnichannel marketing strategies achieve 91% greater year-over-year retention rates over those that don’t.

So how can you get your business to that level?

One step at a time.

Take your first step towards omnichannel marketing

We recommend focusing on one area first, then move on to others once you’ve established a standard of quality. This “pioneering area” so to speak has to have the greatest impact for the investment. For most businesses this usually means customer service.

Customer service is the thorniest part of the omnichannel marketing experience because it has the most impact on a customer’s happiness, and yet is the most difficult to get consistent. Disconnected systems and uncoordinated databases break up the flow of a support call and force customers to repeat the same information—especially if calls transfer from one agent to another.

A proper call management and tracking system helps solve these problems by:

  • Coordinating omnichannel information between marketing, sales and customer support
  • Alerting call center agents as to the nature of the call prior to actually starting the conversation
  • Scalable personalization of the call experience
  • Tracking call metrics for better marketing insights

Retreaver’s call tracking platform layers onto existing phone systems to do just this. Get started on your omnichannel marketing strategy by improving your contact center performance and provide valuable metrics to marketing, sales and customer success. Visit try.retreaver.com to learn more!

Revenue Attribution: Tying Marketing ROI to Business Results

March 5, 2018 | Jason Kay

Revenue attribution is a modern luxury most marketers ignore. Before attribution, marketers didn’t have any way to reliably tie their efforts to business revenue. This was much due to the nature of the medium. What do I mean? Consider it impossible to accurately credit the impact of a billboard or TV ad on sales unless there’s a drastic spike.

That was then. Today’s marketers can accurately tie marketing ROI to business results. You now have the data to home in on which campaigns, channels and keywords are bringing in the most conversions. It means revenue attribution is necessary to show marketing’s value to the rest of the organization. Sadly, many marketers still have no idea what revenue attribution is nor what it can do for them.

What is Revenue attribution?

Revenue attribution is the process of crediting a conversion or sale to a specific channel or marketing action. The most basic example of this is a promotional email that directly led to a web purchase. The attribution is pretty clear: the customer received the email, clicked on the link, and purchased the item. Therefore, the revenue for this sale—and other sales like it—credit is given to this specific email campaign.

Revenue attribution is key to accurately measuring and reporting campaign performance. It gives CMOs hard numbers with which they can prove marketing ROI.

Different revenue attribution models

Marketers have many marketing channels active at the same time and customers will encounter at least two of them over the course of their purchase. So how do you measure which one gets credit for the sale?

There are different attribution models in place, each with their own advantages and disadvantages.

First-touch revenue attribution. This model gives credit to the first touch point a customer encounters. It assumes that the first touch point is what makes the customer aware of your brand and is what starts them down the path to the sale. The problem with this method, it overemphasizes how important the awareness stage of the funnel is. It’s also susceptible to errors, since the true “first-touch” could have been offline.

Last-touch revenue attribution. The last-touch model credits the sale to the last recorded touch point. It’s the simplest revenue attribution model to measure by far, and is what many attribution tools default to. The problem with this method, if a customer encounters your booth at a tradeshow and then goes to your website to do the purchase, it’s the website that gets the credit for the sale. Even though the tradeshow had the most influence.

Multi-touch revenue attribution. 

This revenue attribution model keeps track of every touch point the customer encounters over the course of the buying cycle and gives credit to each. The amount of credit for each touch point varies based on whatever variant of multi-touch attribution you’re using, and it’s still potentially more accurate than the other two methods because you have a better idea of which marketing assets are influencing the overall buying decision.

The missing link in revenue attribution

Most of the methods listed above require some sort of online or digital component in order to capture the required data: website tracking, an online form, or a specific landing page. Offline touch points like print ads, tradeshows, or even word of mouth are overlooked. So how can brands find out which of these offline touch points contributed to the sale?

A proper inbound call tracking solution will do all this and more.

Modern call tracking solutions like Retreaver generate unique phone numbers that you assign to both digital and offline campaigns, and tie them into your marketing automation system. You get an accurate picture of actual campaign performance, and your agent doesn’t have to risk wasting your customer’s time asking intrusive questions.

Visit try.retreaver.com to learn more about how call tracking contributes to your marketing ROI.

HubSpot tips that blend online/offline marketing efforts

February 7, 2018 | Jason Kay

Any dedicated HubSpot user will tell you that it’s a great tool for managing all sorts of marketing and sales related tasks, from inbound marketing to social media to SEO — all tied together with a powerful CRM. And with over 31,000 users in over 90 countries, it’s pretty safe to say that what HubSpot does, it does well.

There are, however, certain things it doesn’t do. And most of these limitations have to do with HubSpot’s challenges in tracking offline activities. After all, how can one expect a digital marketing solution to track how many people see a TV ad? How can HubSpot tell if the same Bob calling your help desk is the same Bob you emailed a week ago? It’s simply not possible.

Right?

Wrong.

HubSpot integrates with best-in-class service providers with solutions that can track and measure what out-of-the-box HubSpot cannot. Here are three offline examples where Hubspot partners shine:

Event attendance and interactions

Hosting a live event is a great way to engage new prospects and connect with existing customers, but coordinating event leads with HubSpot is a major time sink. It’s difficult to research names pre-event, as most of the time you’re picking names from one list and searching them in HubSpot to see if they show up. Updating the list with new names is only marginally faster, as they have to be manually imported into the HubSpot CRM.

This is precisely why the Eventbrite-HubSpot integration is so valuable. With it, marketers can sync Eventbrite registrations with existing HubSpot contacts and, if necessary, automatically create new contacts on the fly. You’ll be able to see how these contacts engaged with you before and after the event.

This automated contact management process makes it easier to track your event’s success. How many conversions did the event generate? What’s the ROI for this single event, and how does it compare to the overall ROI of your marketing program?

The integration gives you access to all this information and more.

Direct mail and traditional advertisements

While HubSpot is unmatched at tracking the performance of digital content assets, print and offline assets are a whole different story. After all, how can HubSpot reasonably measure how many people read your direct mail or how many drivers read your billboard?

Savvy marketers will accomplish this through judicious use of tracking URLs and landing pages. You can have either multiple tracking URLs that take you to a single common landing page. Or you can generate multiple landing pages, each unique to the direct mail asset you sent out. HubSpot accounts for both scenarios and gives you insight into which asset performs the best.

Inbound phone calls

Despite the breadth of features HubSpot offers, inbound phone calls have been a consistent blind spot when assessing marketing performance. Yes, contact agents can gather information and put it in the HubSpot CRM. However, doing so manually prolongs call time and the unnecessary questions turn off prospects. As a result, agents aren’t always able to collect enough information about who calls a hotline and why.  

That’s what Retreaver’s Integration for HubSpot is built to solve. Retreaver gives HubSpot users the ability to generate unique telephone numbers and tie them to HubSpot campaigns. The unique phone numbers can also be used on ads, and even individual keywords. Marketers can determine which sources are driving conversions and helps you prioritize where you should be spending your marketing dollars.

Customers benefit from the service as well. The integration synchronizes your calls with HubSpot so that you can instantly know who you are talking to and can easily update new data on the fly. Your sales team doesn’t miss a beat, purchase paths are shortened, and marketing gets the info it needs.

Learn more about how Retreaver makes caller insight happen by clicking here!

Why a Seamless Transition from Offline to Online Marketing Is Important

January 3, 2018 | Jason Kay

There is an unfortunate lack of connectivity in many companies between their offline and online marketing efforts. Some marketers, either by lack of budget or options to connect, fail to link their offline and online marketing efforts together. In some cases marketers treat the two as separate tactics, while worst-case scenarios see other marketers using only one or the other. The reality is that consumers are relying on both when connecting with brands. In fact, according to Science Daily, more than 80% of online ads have an effect on offline sales. As such, it’s important to provide your consumers with a seamless transition between the two worlds.

Online Marketing Generates Offline Conversions

As the Science Daily data suggests, consumers interacting with online ads are contributing immensely to offline conversions. It is important to realize that offline conversions still afford consumers the chance to inspect and examine merchandise before making a purchase. This doesn’t discount the role of online marketing though.

Mobile devices account for more than half of online searches, and nearly 53% of online shoppers prefer to use smartphones when searching for products/services. Beyond that, 69% of consumers still trust local publications and 54% are more likely to purchase products advertised by traditional means. When online marketing is connected seamlessly to offline marketing, it leads to increased conversions offline.

Offline Conversions Shape Online Marketing

When consumers cross the divide from online to offline and convert, they bring with a treasure trove of data. If your offline and online marketing efforts are seamlessly connected, you get first-party data that is invaluable in shaping your marketing efforts online following offline conversions. You’ll gain insight into purchase history, demographic information, call history, and even the channel, campaign or source. If your marketing efforts are disjointed, you’ll miss out entirely on this information (at worst) or have to rely on third-party data to shape your marketing (at best).

Delivers Consistency to Consumers

When you achieve a seamless transition across offline and online marketing channels, you present your brand and messaging to consumers with consistency. Ideally, all of your marketing messaging and brand presentation should look and feel the same, from billboards, direct mailers, and radio ads to social media marketing, search ads, and mobile app engagement. When the consumer picks up the phone to call your company, they should be able to receive the same messaging from the sales or customer service rep.  With a consistent message across these platforms, you’ll not only enjoy greater success in marketing as a whole, but you’ll encourage cross-platform participation among consumers because it is easier to do.

How Can You Achieve Seamless Transitions?

There are lots of ways to offer consumers a seamless transition from offline to online and vice versa. Determine what is and isn’t working in your current marketing arsenal by testing which channels, campaigns or sources are driving traffic to you.

When phone calls are a big part of your business, start using trackable numbers. Suppose a consumer is inspired to call your business based upon an online ad, but that number isn’t tracked, then they’re likely to get the runaround in trying to find the deal they saw. Worse, they’ll feel like their time isn’t valued by your brand. With the simple inclusion of trackable phone numbers though, the transition becomes seamless as the caller is directed right to the department handling that promotion.

Curious to learn more about creating a seamless transition from offline to online for your customers?  Get in touch today.