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What is The Right Number of Channels to Include in Your Cross-Channel Marketing?

cross-channel

 

In today’s digital world, marketing has become more complex. Customers move between channels throughout their buying journey. When B2B buyers consider purchasing, over 27% of buyers research independently online and spend only 17% of their time meeting potential suppliers, according to a report [source].

 

So, it becomes more critical for marketers to be where their customers are and meet them with the right message at the right time. However, with so many options and channels available to reach the target audience, it’s tough to know where to start or how many channels you should use as part of your cross-channel marketing strategy. 

 

Also Read: Why Cross Channel Marketing Is A Must For Businesses Today?

 

A report with half of this year’s study states that around half of all companies use 3-4 channels to add new touchpoints for their buyer’s journey.

 

However, the research above also states that only 4% of companies use 10+ channels in their marketing strategy. In contrast, others lose a significant percentage of their potential revenue by ignoring additional touchpoints.

 

So, what’s the correct number of channels for a cross-channel marketing strategy? You’ll need to consider a few factors before settling on a number.

 

Factors to Consider While Determining  The Number of Channels:

 

In this blog post, we’ll walk you through some factors you should consider while determining the correct number of channels for your business. 

 

Budget

 

The first factor you’ll need to consider is your budget. Allocating your marketing budget can be a tricky task. On the one hand, you want to ensure you reach your target audience through as many channels as possible. Yet, on the other hand, you don’t want to overspend on marketing efforts that may not be effective. So, how can you achieve the right balance in allocations?

 

Thinking about how each channel will help you achieve maximum results is vital. Small businesses with less than 5 million can allocate between 7% and 8% of total revenue to marketing, assuming their business margins are 10%-12%, says the U.S. Small Business Administration. [source

 

So, it is always good to understand each channel’s role in your overall marketing strategy and allocate your budget to maximize results.

 

Target audience

 

Unfortunately, it’s hard to determine which channels to use to reach your target audience in the competitive marketing world. 

 

However, answering these questions will help you determine which channels are most helpful to reach them at each stage of the customer journey. 

  1. How many channels do they use daily? 
  2. Do they prefer traditional channels like television and radio?
  3. The total number of hours they spend on social media.

Once you know which channels they’re using, you can consider other demographic aspects, such as age, location, gender, interest, preferred channels, chosen devices, occupation, and income. This helps you understand your audience and create a more effective marketing strategy that reaches them.

 

Marketing objective

 

As you develop your marketing plan, you must remember your objectives. Your goals play a vital role in determining which channels you use. Your business’s marketing objective helps you narrow down the field and choose the channels that will work best for you. 

 

For example, adding social media to your marketing mix may be a good idea to increase your online presence. Even if you’re new to social media, it can be a powerful tool for reaching new customers and growing your business. 

 

Resources

 

The correct number of channels ultimately determines the time and resources available. At the end of the day, one individual or team can only do limited tasks. One way to make the most of limited time is to select the right channel mix for your business. The best way to approach this is to start with the basics and then add on as needed. The key is finding the sweet spot that maximizes reach with minimal effort.

 

Conclusion

 

However, you should also find other tools to make cross-channel management easier. Automation, for example, can take care of many repetitive tasks that consume your time. By leveraging these tools, you can free up more time to focus on strategy and creative work. As a result, you’ll accomplish more in less time, making cross-channel marketing more efficient and effective.

 

As you can see, there’s no easy answer to determining how many channels to include in your cross-channel marketing strategy. It depends on the budget, target audience, resources, and business goals. By considering these factors, you’ll be able to choose the best channels for your business’s cross-channel marketing strategy.

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