4 Cross Channel Marketing Stats Marketers Need To Know Going Into 2017
As 2016 winds down and we all look forward (hopefully) to some time off from work and spending time with family and friends, I thought it a good time to give some marketers some cross channel marketing stats to get to know up close and personal as we head into 2017.
Let’s dive right in shall we?
1. Two-thirds of all shoppers regularly use more than one channel to make purchases.
A Wharton study found multi-channel shopping behavior—defined as a consumer’s usage of more than one channel all or most of the time somewhere in the shopping process—is the norm for a majority of consumers. Note the operative word “norm” in the previous sentence. The study also found that 1/3 of consumers regularly alternates between two channels to purchase, and another 1/3 regularly uses three or more channels when they buy. Only one out of three shoppers exhibits consistent “mono-channel” purchase behavior, using just a single channel to buy.
2. The average shopper makes on average 9.5 visits to a retailer’s site before deciding to buy.
Just let that one sink for a minute. Nine and a half visits to a website before deciding to buy. And rest assured said visits are being made across multiple channels i.e. mobile, desktop, etc.
3. Customers who shop on more than one channel have a 30% higher Lifetime Value than those who shop on only one.
This, perhaps more than any other stat, speaks to the clear and present need for a solid, robust cross channel marketing strategy. Marketers simply must be where there consumers are to fully reap the benefits. I know that sounds overly simplistic but it is the cold, hard truth.
4. A mere 5% of marketers say they are “very much set up to effectively orchestrate cross-channel marketing activities.”
This last stat comes courtesy of Econsultancy via their annual cross channel marketing report. Another key finding from the report showed that while over two-thirds of responding companies agree their ‘priority is for all key marketing activities to be integrated across channels’, only 39% say they ‘understand customer journeys and adapt the channel mix accordingly’.
Here’s another cold, hard truth: Marketers must keep pace with the modern customer – who is fast, digital and unstructured – to outpace the competition.
Today’s customers frequently interact with brands across multiple channels and devices leaving a trail of identifiers (like email addresses, loyalty accounts, browser cookies, and mobile device IDs) littered amongst the various technologies that power those customer interactions
In order to keep pace with customers in real time and effectively personalize each customer’s experience, it’s up to marketers to bring all of a customer’s interactions, preferences, and behaviors across channels together in a way that allows them to get a complete profile of each customer that’s up-to-date.
It’s also up to marketers to download Cross Channel Orchestration Fundamentals: Aligning Web With All Marketing Channels. Download this brief to learn how you can deliver the most meaningful, positive, and consistent customer experiences across all channels that enhance loyalty and deliver results.
Source: ORACLE MARKETING CLOUD