Omnichannel Marketing: Distribution, Promotion, and Communication. Entrepreneur MBA Podcast 4.30
In today’s podcast, Rowena Scherer from Eat2explore and Stephen Halasnik from Financing Solutions discuss what omnichannel marketing means and how business owners can use omnichannel marketing strategy to create profitable marketing and sales. Omnichannel marketing means leveraging varying platforms to create an integrated and cohesive marketing experience to reach out to customers no matter where they are. As a small business owner, it’s time that you understand the importance of omnichannel marketing on your business and leverage it to build your brand to create a unique customer experience.
What is Omnichannel Marketing?
In today’s world, the advances in technology have made many businesses rethink how they go about their marketing enterprises. Innovative technologies have allowed businesses to leverage multiple channels to generate leads and effectively reach out to more prospects.
Plus, in recent times, businesses can hardly compete effectively without the integration and cooperation of the various marketing channels they use to interact with consumers to create a consistent brand experience.
Omni-channel marketing is defined as a marketing strategy that allows seamless and high-quality user experiences across marketing channels. In other words, omnichannel makes it possible for a business to engage with their customers and prospects by giving them access to their products and services across channels, platforms, and devices. As a result, omnichannel fosters lead nurturing and user engagement and helps create profitable marketing.
Today, there’s no denying that purchasing decisions are increasingly made online and across varying digital platforms. Hence, regardless of what you sell and the services you render, maintaining an online presence on various platforms is critical to the success of your business. And adopting an omnichannel marketing approach offers numerous benefits to businesses.
The Importance of Omnichannel Marketing for Businesses
There are plenty of advantages to using omnichannel in your marketing strategy. As a small business owner, one of the first things you learn is that marketing is the foundation of every successful business. However, experience has shown that it pays off pretty well when marketing efforts are diversified and synchronized across multiple channels. Therefore, we advise business owners to rethink their marketing strategies to be more inclusive and interconnected.
Below are the many benefits of omnichannel for businesses:
It Allows for a Greater Reach
Omnichannel marketing allows businesses to effectively reach more customers where they are. In other words, customers and prospects no longer have to search and search to find you. No matter your location, marketing team, or products are just a click, an email, or a phone call away.
Since leveraging omnichannel allows you to maintain a presence across numerous channels, it becomes easier to drive awareness and interest in what you offer.
Increased Return and Profit
A multichannel retail experience enables you to create more awareness and interest in your product. When your prospects are ready to buy, it will be easier for them to purchase if your products are available on numerous channels, thereby helping you optimize sales and generate more profit.
Savvy businesses use omnichannel to build their brands and maximize sales.
Good Customer Experience
Omnichannel marketing provides a good customer experience. Your customers will feel satisfied if they have numerous methods of experiencing your products, reaching sales teams, and providing customer service. In other words, when your customers can purchase your product regardless of their devices or preferred platform, they will feel happy and want to patronize you when they need your products.
Most importantly, experience has shown that customer satisfaction reduces customer churn.
Helps in Marketing Analytics
Another benefit of leveraging omnichannel in your marketing effort is that it allows you to track user engagements across channels and help you better understand the entire customer journey. In other words, you will know the touchpoints customers prefer to engage in and which marketing platform has created the most value. With this in mind, the data you obtained can be put back into your marketing strategy to build a more effective and targeted campaign.
Omnichannel Marketing Vs. Multichannel Marketing
It’s worth noting that a significant difference exists between omnichannel and multichannel.
For example, in a multichannel marketing ecosystem, the user has access to multiple channels or platforms that are not synch or connected.
On the other hand, in an omnichannel marketing experience, the various marketing platform in place is well-integrated and connected so that you can move between them.
You can have an amazing website, engaging social media campaigns, and more, but if they work in a silo, they don’t create an omnichannel experience for users.
Omnichannel Marketing Platforms
Various platforms are created for Omni marketing. Leveraging any platform will help you have a marketing strategy that operates across touchpoints. In addition, you must spread your resources across each platform to generate a maximum effect.
Below are omnichannel marketing platforms:
Although originally an e-commerce platform, Shopify provides flexibility across mobile, desktop, and third-party apps. With Shopify, you can grow your audience across social media channels while managing your products from one place.
Plus, Shopify enables businesses to bring together all their channels to help them personalize experiences for the audience, optimize sales, and generate more revenue.
The HubSpot CRM platform offers businesses a flexible and functional marketing automation tool. It ensures that all your marketing tools and data are on one platform. Plus, it helps you get all the context you need to provide a personalized experience that attracts and converts the right customer.
This platform offers numerous automation and marketing tools to create seamless and great experiences for businesses and customers alike. The active campaign gives you the email marketing, marketing automation, and CRM tools you need to create an effective marketing experience. In addition, it features four segmented goals: Reach, Nurture, Convert, and Grow.
Then again, this platform allows you to make meaningful connections with your customers, recommend products, offer sales, and ask for feedback when they’re most engaged.
About Our Guest
Rowena Scherer, a former financial executive in New York City and a culinary graduate of the French Culinary Institute, founded eat2explore to teach her kids and kids around the world about different cuisines and countries while having fun. Scherer grew up cooking with her family in Malaysia, and as her kids were growing up, she forgot the joy of taking a break and cooking with her family. So she decided to take the things she treasured most – family, food, travel, and education – and create an opportunity for families like hers to discover cuisines and cultures from around the world while enjoying a shared meal together.
About Financing Solutions
Over the years, Financing Solutions’ small business financing product has proved to be a great alternative to a traditional bank line of credit because, unlike a bank, the business line of credit has instant approval. Our line credit costs nothing to set up, nothing until when used, and when used is inexpensive. The line of credit we offer you requires no collateral and no personal guarantees. And this is why we are different.
Small businesses use their line of credit to help with emergencies or opportunities when your small business’s cash flow is temporarily down (i.e. Payroll funding)
Please feel free to fill out the no-obligation, 2-minute business line of credit application here. Remember, the time to set up a line of credit is when you don’t need it so that it is ready to be used, just in case.
Financing Solutions donates 10% of its profits to various nonprofit charities in her effort to provide humanitarian assistance.