What is Multi-Channel Marketing?
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Multi-Channel marketing uses more than one purchasing passageway to give customers access to products and services. These different marketing channels could include websites, retail stores, catalogs, direct mail, social media marketing and e-mail. Multi-Channel marketing involves using two or more of these channels to provide increased benefits to both the company and its customer. The main benefit of Multi-Channel marketing for companies is often said to be the increased interaction with customers. Increased customer interaction increases opportunities for the promotion of products and services which increases potential profits. |
MCM Facts
• Innovatively delivering benefits through integrated multi-channel solutions is the key to significant profit growth
• Those responding to multi-channel marketing are different from single-channel customers and they tend to be more affluent.
• Customers that make purchases on two or more channels spend more per year than single-channel shoppers.
• Multi-channel customers buy higher priced options, are less price sensitive and are cheaper to serve.
MCM Goals
• Acquire new customers both directly and through referrals.
• Increase the retention rate of the number of customers that return next week, month or year.
• Increase the number of visits, orders or sales per week, month or year.
• Increase the order size, get people to buy higher priced items or more of them, get people to buy additional new products through cross selling.
• Reduce the administrative costs of handling purchase.