Sherene Funk | Jan 25, 2019 | 0
The Multichannel Marketing Statistics Small Business Owners Can No Longer Ignore
Did you know that 70% of shoppers are multichannel consumers?
That’s the word from a 2017 Adulucent survey, which indicates that if you’re not targeting consumers who use both online and in-store shopping, you’re missing out on potential customers and lost profits.
In fact, according to a recent Invesp report, 95% of marketers agree that a multichannel approach is an essential strategy for reaching new customers and generating new sales.
Unfortunately, the majority of retailers aren’t doing near enough to engage multichannel shoppers, including a failure to list products across multiple sales platforms to attract more consumers and increase transactions. This is clearly evidenced by Econsultancy statistics indicating that only 5% of marketers currently have the necessary tools for multichannel marketing.
While 96% of Americans shop online, 65% of their actual shopping budget is spent in-store. That means that whether you’re exclusively online, brick and mortar, or both, having a multichannel marketing strategy is absolutely vital if you want to take your sales to the next level.
To drive home this point, let’s take a look at an example. A senior citizen looking to buy a set of headphones might receive a text recommendation from a grandchild, then walk into a physical store to make the desired purchase. That grandchild, however, might spend several weeks analyzing headphone reviews, then adding and deleting products to his shopping cart on mobile and desktop devices, before finally purchasing from a company that sends him a too-good-to-pass-up email offer.
As you can see from the example above, modern-day shoppers use more than one channel before reaching a purchase decision. Savvy retailers will recognize this dynamic and strive to make the customer’s journey a convenient and smooth one across multiple channels.
The great thing is, today’s marketing landscape offers a variety of ways for small retailers to connect with consumers, draw them to their store, and encourage purchases.
If you haven’t done so already, it’s time to integrate physical and digital spheres into a multichannel strategy that provides shoppers with a seamless and consistent experience across all available channels, from social media to mobile commerce.
Adopting a multichannel marketing approach will keep you competitive while helping you attract customers, increase revenues and grow your business.
Also published on Medium.