IBMS Semester 6b Fall 2013 Mr. George Szanto. Video 24 Multichannel Online-Offline Integration Strategies. Topics & Learning Goals. Review definition & Axioms How to select right channels Introduce 4 different models for building multichannel online-offline strategy
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Mr. George Szanto
Review definition & Axioms
How to select right channels
Introduce 4 different modelsfor building multichannel online-offline strategy
State howincreasingchannels effect corporate operations
Understand different multichannelconceptualmodels
More channels > costs, people resources
More channels > content needs / retargeting
More channels > data analysis complexity (more tools)
More channels > chance conflicting messaging
More channels > cross departmentorganizationalchallenges
More channels does alwaysmean more profits
On the course webpage there is an Excel file (List of Digital Multichannels)whichprovides a list of 60 possible types of digital channels
Review performance of channels currently used
Score other potential channels for market fit and potential returns (see next slides)
Select new mix of channels for managing
Iterate Channel offerings - Experiment withinexpensive A/B testing
Online paid display andpaid per click
Event marketing channels
Social Networking Channels
* See Appendix of the posted report formanyspecificexamples
Identifying Marketing Channel Prioritization Factors and Relevant Metrics
The first step of marketing channel prioritization is to define the factors that will have the biggest influence on ranking the channels. Assuming you are comparing marketing channels of the same type, you can classify those factors into four key categories:
Content relevance: The fit of a given marketing channel relative to the content delivered to a particular audience and its interests.
Reach: The total number of potential prospects (or their influencers) that your business could impact, educate, or interact with through a given channel.
Cost: The tally of capital and human resources, and the time necessary to effectively utilize a particular channel. Some costs might be fixed (e.g., hiring new team members to acquire a specific channel skill set, and purchasing equipment), while others could vary with channel usage (e.g., cost per e-mail or click).
Effectiveness: The rate of return — measured by such factors as increased awareness and number of qualified leads— on each investment in a specific channel.
Too technical: Software developer Q&A sites might possess content and keywords that meet your channel theme criteria, but they are often too technically focused to be a viable marketing channel.
Too local: If a website is hyper-local (for example, small-town newspapers or directories), it probably won’t reach the audience you need to target.
Operated by a competitor: A competitor’s product website or an offshoot site controlled by a direct competitor should be crossed off your list immediately. Even if it has great content and speaks to your target audience, that competitor is not going to allow you to use its website as a marketing channel.
Not really a marketing channel
Is the website’s purpose mainly to sell paid advertising?
Does the website focus mostly on selling a specific product?
Is the website a link or content farm?
1. Buyer Life CyclevsElements of CorpStrategy
2. Buying Stage versus Channel
4. Touch point experincemodels
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Join the online discussionaboutthisweek’s topics concerning online customer journeysandmulti-channel marketing integration.