What is Omnichannel Marketing?
As its name suggests, omnichannel marketing focuses on delivering a personalized experience to customers across all channels and devices. This requires brands to design, coordinate, and consistently evaluate the different marketing channels through which they interact, acquire, retain, or generate new customers.
Omnichannel marketing is increasingly becoming the focus of many brands’ marketing strategies. The Summer Olympics in Tokyo proved omnichannel marketing was a tactic advertisers were choosing. They were targeting viewers on numerous streaming platforms simultaneously – from CTV to social media channels.
However, great omnichannel marketing requires deep understanding of your target audiences and a great deal of personalization based on your audience’s needs, wants, and interests. Simply offering the same deal to all your customers using multiple channels is not omnichannel marketing.
How Data Powers Omnichannel Marketing
However, thanks to new technologies, such as customer data (CDP) and customer experience platforms (CXP), more and more companies are now able to integrate their customer interactions across multiple channels and devices.
TV advertising is expensive. Additionally, if you are advertising on TV, you will get the most value out of those viewers if you continue to expose your content to them across multiple channels and devices.
Using these platforms, brands can interact seamlessly with their customers and provide them with relevant and timely communications. This, in turn, helps generate a single unified experience across channels. The key to successful omnichannel marketing, however, is data. Timely and accurate data provides businesses with detailed information about consumers’ search and shopping activities. As brands are focusing on omnichannel marketing integration, data integrity plays a central role in their efforts.
Today, especially with the rise of omnichannel marketing, companies are receiving more data about their customers than ever before. Social media, mobile apps, hashed email IDs, and other information all provide immense data about consumer behaviors and preferences. However, organizing, processing, and making sense of this much information is time-consuming.
Part of this challenge is that consumers take different paths to becoming customers. This requires brands to track individual customer’s experience across different channels. Moreover, information about the various touchpoints with the same customer is often stored in siloed IT systems and databases. Matching that data from different sources, some of which might not be owned by the company, is difficult and time-consuming. As a result, the fragmented data leads to poor omnichannel marketing implementation. This leads to poor personalization of customer interactions across different channels and creates an inconsistent customer experience.
What’s the Best Solution for Omnichannel Marketing?
In recent years, Machine Learning-enabled audience modeling has emerged as a leading technology that enables brands to track consumers at multiple touchpoints. By using these tools, companies can even predict customer preferences and behaviors without intruding on their privacy.
BDEX developed its Omnisource IQ Machine Learning tool to help marketers integrate third-party data into their omnichannel strategy. This tool enables brands to use their first-party data and match it with external activity on digital touchpoints across other independent channels.
BDEX’s proprietary algorithms scan clients’ first-party data against 5,500 different categories and use this information to build a highly accurate model of clients’ ideal customers. Companies can then use those models to target specific consumers with relevant offers both online and offline.
These models can also be used to promote relevant content on social media and make sure the right messages from your brand end up in the feeds of the right people on each platform. This integrated data infrastructure enables companies to collaborate across multiple data sets. It also allows them to conduct marketing analysis, segment and create new audiences, and target customers nationwide. They can do this all while retaining full control of their first-party data.
In conclusion, omnichannel marketing strategies have delivered increased returns on their marketing investment for many brands. By focusing on your data integrity and AI-enabled audience modeling, you can leverage the true power of omnichannel marketing and provide your customers with the personalized experiences that will keep them coming back.
Finally, contact the BDEX team to learn more about how our award-winning data solutions can help with your omnichannel marketing efforts.