The internet has given way to plenty of new marketing channels. Businesses are limited to advertising in newspapers and television. A survey states that only 56% of organized marketers successfully reach their goals.[source] 

 

So, as a business owner, it becomes more critical to ensure that you’re using the most effective marketing strategies to be successful. There are countless strategies and channels to choose from in the marketing world. 

 

However, the two most popular approaches are multi-channel marketing and cross-channel marketing. Choosing between them can be tricky as there’s a lot of buzz around them. But what’s the difference? And which is soundest for your business?

 

In this blog post, we’ll explore the key differences between these two approaches and take a closer look at each approach!

 

Multi Channel Marketing:

A study states that over 50% of marketers always hit their financial targets and 72% of customers feel easier to get connected to the brands that use multi-channel marketing.[s1,s2]

 

This type of marketing has been available ever since the internet started to bloom. It uses multiple channels to reach potential customers, allowing users to communicate and purchase from a company through different media such as referrals, SEOs, emails, or online ads. However, each channel remains separate and independent from the other. 

 

Related: How To Create A Strong Multichannel Marketing Strategy

Now, let’s look at the pros and cons of this approach:

 

Pros:

• It allows many startup companies to reach a broader audience on a cost-effective budget. 
• Customers have more options to communicate with the company and make purchases.
• By segmenting sales channels, companies have better control over the message to consumers and ensure that each channel works towards the same goals.
• This separation allows companies to track the performance of each channel and make necessary adjustments, and ensure that all channels contribute to the bottom line.

Cons:

• It is difficult for companies to keep track of all the different channels and how customers use them.
• Customers may become confused or frustrated in finding the necessary information and have difficulty completing a purchase through the different independent channels.
•  It also leads to missed opportunities for upselling and cross-selling as the retailer has no access to the customer’s records to offer them a related product they might be interested in.

Cross Channel Marketing: 

Cross-channel marketing is a powerful tool to reach customers, similar to multi-channel marketing. The critical difference between cross-channel marketing and other types of marketing is that the different channels are all connected, allowing a more accessible and seamless transition from channel to channel.

 

A study states that companies with solid cross-channel marketing see 89% of customers return to them for more products. [Source]

 

In addition, cross-channel marketing allows a more personalized approach to customer service, as each interaction is tracked and used to improve the customer experience.

 

Related: Cross-Channel Marketing: How to Get Started 

 

Now, let’s look at the pros and cons of this approach.

 

Pros:

• Multiple channels generate more visibility and attention to your brand and services using various media.
• As all channels are connected, one channel increases interest in another. 
• Cross-channel marketing allows one to stay consistent across channels and mediums, further strengthening reputation and reducing customer confusion.
• This approach provides customers with more choices, and by interacting with the brand, customers can prefer any channel they are more comfortable with to buy products or services.

Cons:

• You must sync up and keep track of various channels to have a seamless flow.
• This approach requires different marketing teams, additional time, costs, and effort, which means stretching the budget and putting in extra hours to keep campaigns and cross-promotions consistent. 
• Working with multiple channels, difficulty arises in focusing on just one medium. For example, these days, to make a purchase, some customers prefer online, and some your website, and some may communicate through emails. Balancing all is a daunting task.

So, Which is the Soundest?

The answer may surprise you: both! Though they are different approaches, multi-channel and cross-channel marketing can be effective ways to reach and engage customers. Finding the right channel mix for your business and your customers is vital.

 

If you’re just starting with marketing or are on a tight budget, multi-channel marketing might be the way. It’s less expensive and easier to implement than cross-channel marketing, and you can always transition to a more sophisticated approach later on down the line. 

 

However, cross channel marketing is the way to go if you want long-term success. It creates customer loyalty and allows you to focus on their specific needs and wants. No matter which approach you choose, always remember to focus on quality over quantity, and your customers will thank you for it!