Omnichannel Marketing VS Multichannel Marketing- What’s best for the B2B sector?
“Good marketing makes the company look smart, great marketing makes the customer feel smart.”– Joe Chernov, CMO, Pendo.io
B2B marketing or business-to-business marketing is the process of selling one company’s product or service to another company. Despite different sales tactics, B2B marketers utilize and execute the same principles as B2C marketing, albeit in a metamorphosed way. While in the B2C industry, consumers choose products based on factors like price, popularity, status, and other emotional triggers, B2B buyers concentrate on the price and profit potential alone.
The main buyer-base of B2B businesses include
- Companies that use their products
- Government agencies
- Institutions like hospitals and schools
- Resellers like brokers and wholesalers
Changing scenarios in the B2B marketing world
86% of B2B shoppers regularly channel-hop across two channels
With the marketing world getting technologically advanced, the B2B marketing world is finding new ways to foster relationships. Some of the most effective marketing strategies for B2B marketers can be listed as follows-
- Email newsletters
- Social media marketing
- Other multi-channel marketing
Social media has evolved manifold and has contributed significantly to the growth of B2B companies across the globe. In this article, we have delved into the aspect of the multi-channel and omnichannel marketing aspect and the most effective channel for the B2B sector.
Multi-channel marketing strategy is the process of interacting with potential customers across several platforms. It not only offers them the opportunity to choose what to consume, but also the format and medium of consumption. It increases the chances of customer engagement across different channels.
Despite changes in growth trends, around 50% of marketers engaging in multi-channel marketing state that companies with strong multi-channel engagement yield approximately 6% more in annual revenue.
Omnichannel marketing provides a seamless and integrated brand experience and enables the customers to shop online from a desktop or mobile device, via phone, in a brick-and-mortar store for a seamless and integrated shopping experience from the first to last.
Difference between Multi-channel Marketing and Omnichannel Marketing
All omnichannel campaigns use multiple channels, but not all multi-channel campaigns are omnichannel. Both the strategies use multiple channels, and there doesn’t seem to be much difference between them. But there exists huge difference when it comes to strategy and execution.
|Customer first, channel second||Channel first, customer second|
|Consistent engagement||Generic information, no engagement|
|Sales centric||Brand centric|
|Customized content||Uniform content|
While Omnichannel marketing delivers a consistent, personalized experience for customers across all channels and devices, multi-channel marketing uses the channels primarily for brand awareness. Omnichannel marketing delivers the relevant message by connecting with the customers through all the channels he/she uses to connect with the brand. On the other hand, multi-channel marketing delivers static messages across several channels, but those channels neither update nor personalize the message based on the customers’ needs.
Benefits of Omnichannel marketing over multi-channel Marketing
Companies using a strong omnichannel strategy is retaining 89% of their customers.
Omnichannel marketing is currently the new trending favorite lately, though the goals for both the channels are different. Omnichannel finally helps us to tackle the 3R’s of marketing — right information at the right time to the right user. 87% of the retailers recognize the omnichannel marketing strategy as crucial for their business. Marketers are increasingly leveraging the multi-channel presence and bounce behavior of customers to offer a deeper level of personalization. Thus, it is the best channel guarantees that when a customer visits a specific channel, the brand is present there to interact, provide updates and respond instantly. As a retailer, it’s time that you understand the significance of omnichannel marketing on your business and leverages it to create a unique experience for your customers and maximize your ROI.
An example of how Omnichannel marketing works:
- Notifying customers through email or SMS about promotions and offers while shopping in-store
- Notifying customers through SMS or an email with physical coupons about promotion or offer
- Customer being retargeted on Facebook regarding the abandoned cart
|Convenient- Information seeking and utilization is convenient for the customer|
|Consistent- The brand message is consistent and hence improves retention|
|Relevant- Real-time, localized, personalized, and tailored to customer preference content|
|Branding- Improve brand loyalty by building a personal relationship|
|Agile- Enables brands to take an agile approach towards customer acquisition.|
How to create perfect omnichannel marketing campaigns?
As the B2B marketing world gets more competitive every day, database marketing solutions have become mandatory for transforming business. Some of the credible Database providers like ZoomInfo, ReachStream, DataCaptive empower businesses with real-time and actionable insights to enhance omnichannel and multi-channel campaigns. Marketers and salespeople from 50+ companies have identified, connected, nurtured, and converted high-quality prospects and witnessed 4X revenue growth through our database solutions.
How relying on a database solutions provider contribute to business growth?
These database providers strive consistently to improve its services and cater to the data needs of businesses worldwide. DataCaptive, for example, has been providing innovative data-driven solutions that help achieve sustainable growth and empower business through enhanced multi-channel campaigns, personalized lead engagement, customer acquisition, retention, and more.
- Data is sourced from credible sources by expert data scientists and miners.
- Data is subjected to manual QC and AI verification.
- Entire processing adheres to data policies like GDPR, CAN-SPAM and ANTI-CAN-SPAM.
- Database guarantees 95% deliverability and 100% accuracy.
Now fuel your omnichannel marketing campaigns to make maximum profit with intent-based B2B data insights. Increase your lead flow to build a steady lead pipeline and enhance marketing with and drive high success rates and revenue.