Forbes India 15th Anniversary Special

Bridging the gap between adtech and martech: The new frontier of omnichannel marketing - Myron Sojka, CTO, Epsilon

How to implement and succeed in omnichannel marketing

Published: Jan 8, 2024 04:23:23 PM IST
Updated: Jan 8, 2024 06:07:17 PM IST

The modern marketer faces a daunting task: navigating the complex and ever-shifting landscape of customer expectations. In the age of hyperconnectivity, consumers demand seamless, personalized experiences across all touchpoints, from initial brand discovery to post-purchase interactions. However, fragmented technology stacks often hinder brands' ability to deliver on this promise, creating a chasm between their marketing efforts and their customers' needs.

Disconnected experiences stem from the inherent silos within the current marketing ecosystem. Adtech and Martech solutions, while individually powerful, operate in isolation, each holding valuable customer data but lacking the ability to communicate effectively with each other. The result? Inconsistent messaging, ineffective targeting, and a fragmented customer journey that leaves both brands and customers frustrated.

Unlocking the Power of Omnichannel: Beyond Efficiency, Towards Growth

Because today’s average consumer uses six touch points per purchase (and 90% of consumers expect all interactions to be consistent regardless of channel) developing an omnichannel marketing strategy has become necessary to meet the expectations of today’s consumers. By breaking down silos and creating a unified marketing ecosystem, brands can unlock the true power of omnichannel marketing. This translates into several key benefits.

  • Deliver relevant messaging to customers wherever they’re most engaged and stop wasting money on over-frequency or reaching the wrong people, which helps build stronger relationships with customers, driving increased satisfaction and loyalty.
  • Data-driven targeting and optimization lead to higher conversion rates, better ROI, and maximized media investment across every channel your customers use, giving you improved campaign performance, which results in increased revenue.

Statistics show that the frequency of completed purchases is 250% higher for businesses that employ omnichannel marketing strategies vs. single channel. Additionally, the average value of completed purchases is 13% higher per order on omnichannel vs. single channel. Moreover, a unified view of customer data across channels provides invaluable insights into behaviour and preferences, informing strategic marketing decisions and driving future growth opportunities.

From Implementation to Success: A Roadmap to Omnichannel Excellence

Building an omnichannel marketing strategy requires a clear roadmap and a commitment to collaboration. While there isn't a set formula that works for everyone, there are some key strategies that most businesses can agree on.

1. Defining Your Omnichannel Goals:

Before diving headfirst into implementation, it's crucial to clearly define your desired outcomes for omnichannel marketing. Are you aiming for Increased brand awareness? Improved customer retention? Higher sales conversions?

2. Uncovering the Customer Journey:

Next, conduct a thorough audit of the customer journey, mapping every touchpoint, from initial awareness to post-purchase engagement. Identify any gaps or inconsistencies in the experience, so you can tailor your strategy to address them. Pay attention to opportunities for personalized interactions. Remember, you want to give each customer a relevant experience at every touchpoint.

3. Evaluating Your Technology Landscape:

Take a critical look at your existing AdTech and Martech stack. Are your platforms integrated? Do they allow for seamless data flow and collaboration? If not, it may be time to consider upgrading or replacing technologies that hinder your ability to achieve a unified view of the customer. Remember, your technology should be an enabler, not an obstacle.

4. Choosing the Right Tools for the Job:

Look for platforms that offer robust integration capabilities, support a unified data approach, and cater to your specific needs and budget. Consider factors like user-friendliness, data security, and scalability.

5. Data Governance: Building a Solid Foundation:

Data is the lifeblood of omnichannel marketing. Define protocols for data collection, enrichment, usage, and compliance, clearly outlining responsibilities and access permissions across all teams. This will lay the groundwork for reliable data-driven decision-making and prevent potential pitfalls related to data privacy and misuse.

6. Start Small and Iterate: The Power of Continuous Improvement:

Don't try to boil the ocean. Begin by implementing your omnichannel strategy on a smaller scale, focusing on a specific customer segment or product line. This allows you to test different approaches, gather data, and refine your strategy before rolling it out across your entire organization. Establish clear metrics and measure progress so you can drive continuous improvement.

Remember, omnichannel marketing is a continuous journey, not a destination. Embrace experimentation, learn from successes and failures, and adapt your approach as technologies and customer expectations evolve.

The pages slugged ‘Brand Connect’ are equivalent to advertisements and are not written and produced by Forbes India journalists.