Companies touting the benefits of omnichannel marketing may be omnipresent but it seems there are “omni-reasons” to embrace the strategy, not least that those brands which deploy activity across multiple channels are omnipotent, boosting their ROI nearly a third (32%).
The latest ROI Genome report from Analytic Partners, “Omnichannel and a Brave New World”, revisits the topic of omnichannel marketing through the lens of significant change brought by the global pandemic, and the resulting shifts in consumer behaviour.
It examines how business leaders can build a holistic view of both ecommerce and bricks and mortar marketing channels, the role retail giants like Amazon in the new omnichannel customer journey, and how brands can thrive by taking a consumer-centric view across route to market.
The report states: “As consumer behaviour shifts even more to online shopping, it is important to recognise that online advertising channels are not the only tactics that drive online behaviour.
“In fact, our research has shown that even in recent time periods offline efforts are still often the primary drivers of online behaviour. In the example from a large US omnichannel retail business, over one-third of its website traffic was actually driven by traditional TV advertising – more than all of the digital channels combined.
“In the moment, when consumer behaviour is changing quickly due to macro factors, the lift seen in ecommerce versus bricks and mortar retail is of critical importance. Estimates suggest that in months we have accelerated ecommerce in what would otherwise have taken years.
“The key difference is that many brands are leveraging ecommerce to stay connected with their customers and offer greater flexibility with additional shopping options. As a result, many business have stemmed potential losses due to quarantine and some have experienced growth. Our research shows many businesses have experienced stronger marketing ROI due to these shifts.”
It reveals that by combining digital and physical stores, brands can drive increased impact of their marketing by 32%.
Meanwhile, the report claims that Amazon advertising has a strong impact on business performance both online and offline, with a 20% higher ROI than would be achieved without it. In 48% of cases, the incremental sales impact from paid Amazon display ads has a halo benefit onto non-Amazon sales.
Analytic Partners senior vice president Mike Menkes explained: “The circumstances of the past several months have created shifts in the balance of ecommerce and bricks and mortar for many brands. In looking at those shifts, it’s vitally important to understand the impact holistically, rather than looking at each channel or tactic in a silo.”
Omni what? Marketers talk cobblers, say tech bosses
Internal squabbles scupper marketing tech investments
Marketers are from Mars, advertisers are from Venus
Data issues continue to plague omnichannel marketing
Brands urged to tap data to fight ‘Blue Xmas’ forecast
Customer data platforms ‘trigger double digital growth’
Direct mail industry bullish about fighting off Covid hell
Ad budgets derailed again but is that a light ahead?