Optimizing Paid-Social in the Multi-Channel Marketing World

1. What exactly is multichannel marketing?
2. What are the advanatges and disadvantages of multichannel marketing?
3. What matters in multichannel marketing?
4. How is tracking & controlling used in it?
5. Optimization and Allocation of Budget in Multichannel Context
6. Conclusion - What matters in 2023?

You want to precisely steer your paid social campaigns in the fast-emerging multichannel marketing world, but you're not sure how? Then read this article calmly to be able to steer the success of your campaigns with a clear view in the future.

What exactly is multichannel marketing?

Multichannel marketing is a strategy where companies reach their target audience across various channels for wider reach and higher customer retention. This includes both digital and traditional channels such as social media, email, phone, TV, radio, and print.

Our guest author Marc Weindinger focuses primarily on the online area in his article. The online area in multichannel marketing may include channels like:

• Meta (Facebook & Instagram) Advertising
• TikTok Advertising
• Search engine advertising (Google, Bing etc.)
• YouTube Advertising
• Native Advertising

What are the advanatges and disadvantages of multichannel marketing?

You have by now learned that multichannel marketing is a concept where companies coordinate their marketing activities across multiple channels to achieve maximum reach and interaction with their target audience. This approach offers both advantages and challenges that need to be considered.

Advantages

Increased visibility and reach

You can build a presence for your business across multiple channels, thereby increasing your visibility and reach. This allows you to reach your target audiences with individual communication on multiple social media platforms.

Strengthened customer loyalty

Multichannel marketing also allows you to build a deeper relationship with your customers by differentiating your communication & offerings according to channel. More on this later.

Boost conversion rate

By using multiple channels, you can positively influence the conversion rate by increasing the chance that your target audience will respond to your offer on one of the various communication channels. This is particularly important as customers almost always have more than one contact point with a company before making a purchase decision.

Disadvantages

Integrity and monitoring of data

As the data comes from different channels, it can be difficult to ensure that all data is correctly merged and that no data is lost. This can lead to inaccurate estimates of the success of the marketing and thus affect decisions.

Possible opportunity costs with incorrect analysis

Without accurate analysis, your company may unintentionally waste a lot of money on inferior marketing channels and miss out on important opportunities, such as not utilizing a promising marketing video on Meta. Similarly, it applies to the analysis of the Customer Journey.

What matters in multichannel marketing?

Identification of the target group

A clear understanding of who the target audience is and what they need is crucial to select the right channels and messages. It is advisable to segment your target audience in various ways, such as age, gender, income, location, and interests. Be sure to tailor communication according to the platform as it varies, for example, between direct Instagram advertising and influencer marketing.

It is important that you precisely define the target audience and understand their needs and preferences. For this, you can use various methods such as surveys, feedback forms, and the use of analysis tools. Once you have a good understanding of your target audience, you can select the right channels.

Marketing Ads by categories

Example: If the target group primarily consists of young people who are active on Instagram and TikTok, it makes sense to run event-filled advertisements on these platforms to not bore them. On the other hand, if the target group mainly consists of older people, it might be more sensible to promote longer content with more detailed information about the product or service.

Bear in mind that identifying the target group is a continuous process as the preferences and needs of the target group can change over time.

Selection of Channels

After the target group is identified, the next step is to select the appropriate channels.

Social media portals are best suited for reaching a broad target group and creating interaction and engagement. With the help of tracking tools, performance-oriented marketing can also be deployed much more accurately, which has become increasingly difficult for online companies due to various privacy updates in recent years.

Nowadays, it is all the more important that you do not just rely on one channel, but combine several channels to maximize the reach and impact of your campaigns. A good multichannel marketing strategy takes into account the strengths and weaknesses of the various channels and uses them in a coordinated manner.

Personalization of Communication

An important component of multichannel marketing is the personalization of the messages sent to your target audience. This personalized communication will make you more relevant and appealing to your target audience and increase the chances of successful paid social campaigns.

Example: An ad posted on Instagram feed clearly differs in both form and style from a TikTok ad, which can have faster cuts and possibly more animations. Therefore, always make sure to adapt your communication to the appropriate channel.

How is tracking & controlling used in it?

Especially with a focus on paid social channels, it is important to use tracking & controlling carefully to deploy your advertising budget efficiently.

Goal Setting

An important aspect of implementation is setting goals. To be successful, you need to define clear goals for your campaigns and ensure these goals are achieved.

There are different types of goals, especially in Social Media Marketing that companies can set, such as:

• Reach: the number of people that a campaign reaches
• Engagement: the interactions that a campaign generates
• Conversions: the number of people who respond to the campaign and perform a specific action, such as purchasing your product

The latter is most commonly found in the paid social or e-commerce sector.

Measurement of KPIs

In addition to setting goals, the measurement of Key Performance Indicators (KPIs) is an important component of tracking and controlling in multichannel marketing and plays a crucial role in measuring the success of your campaigns and improving performance.

It is important that you select the right KPIs that reflect your goals and the success factors of your campaign. Some examples of KPIs are click-through rate (CTR), conversion rate (CVR), customer retention, and return on investment (ROI).

Another important component of tracking and controlling is using Business Intelligence (BI) software & tools several of which have already been compared here at OMR Reviews. These can help your company to collect, analyze, and visualize data without being affected by ad blockers.

We have picked out a few of our favorite Business Intelligence (BI) Software & Tools on OMR Reviews for you:

Microsoft Power BI

Tableau

Minubo

Klar

Tracify

With these, you can better assess the effectiveness of your campaigns and quickly respond to problems or revenue-generating opportunities by utilizing your resources and the budget of your campaigns more effectively. We will discuss more about this in the next section.

Optimization and Allocation of Budget in Multichannel Context

Identification of the best channels

An important aspect of optimizing paid social in the multichannel marketing world is choosing the right platforms and channels. Make sure these match your already defined target audience and your Social Media Marketing Goals.

One way to select the right platforms and channels is to use data analysis tools. For example, you can analyze the behavior and interaction data of your target audience to see on which platforms and channels they are most active. You can then focus your campaigns, specifically your advertising budget, on the platforms and channels you have identified to achieve the best possible results.

Overall, the choice of the right platforms and channels is an essential part of optimizing paid social in multichannel marketing.

Prioritization & Monitoring of Expenditures

After analyzing your marketing channels, you can allocate and monitor your budget accordingly by regularly checking the performance of each channel and making adjustments as necessary. This includes monitoring the metrics that are most important to you, the setting of which was described in previous chapters.

Tip: Constant re-use of existing advertising materials (video/images) will prevent long-term success. It is all the more important to constantly optimize your campaign or individual advertising materials through iterations. These could be changes to the beginning of your promoted videos or changing the calls to action later in your video.

This ad optimization can only be optimally used if you are sure which of your individual ads work best per paid media channel.

Tracify’s Multichannel Marketing Dashboards

Then you can intensify your existing budget further, while you take up the learnings to create new & even better advertising and scale your business in the paid social sector with your multichannel marketing approach.

Conclusion - What matters in 2023?

For a long time, advertisers relied on the statements of individual advertising platforms and had to compare the effectiveness of various platforms in tedious Excel or Google Sheets. Not only that. Often, due to this tunnel vision, focus was put on too few channels, which possibly led to a dependency on the respective advertising channel in your case.

With the iOS14 update in 2021, many advertisers painfully learned how important diversification of the advertising budget is. Since then, the topic of multichannel marketing has been brought increasingly to the forefront.

Therefore, in 2023, it all comes down to clean data analysis that connects several marketing channels and can compare them. More precisely, the correct interpretation, i.e. what impact every touchpoint of your users has. It is therefore advisable to compare different analysis tools that can analyze this again accurately, if you want to stand firmly behind your decisions when managing advertising budget & analyzing your advertising material.