CleverTap, an all-in-one engagement platform, has published its market research paper titled ‘Unravelling the Cross-Channel Marketing Strategy’. The research emphasizes adapting marketing strategies to reach regional audiences while keeping a consistent worldwide presence. It underscores the need for knowing local and industry-specific subtleties to optimize cross-channel strategies as firms develop.
While email continues to dominate areas such as the United States and the United Kingdom, SMS has substantial weight in China and the United States, while WhatsApp emerges as a force in South America and Asia. The survey discovered that implementing an omnichannel marketing approach influenced the following important areas: app stickiness, conversion rates, and onboarding rates.
The analysis evaluated more than 600 firms worldwide to identify aspects that might affect or shape the omnichannel strategy, such as business growth stage, geographical variations, industry dynamics, consumer lifestyle milestones, and user retention. A company’s cross-channel strategy entails determining the appropriate number of channels and mix based on the stage of growth the company will be in at any one moment and where the consumer is in their lifecycle. The number of monthly active users is an important measure of a company’s level of growth. Businesses that use four or more channels as part of their omnichannel strategies see a boost in conversion rates of up to 49%.
Key Features Include:
Engagement:
Engagement on Fintech platforms increased by 23% via email, push alerts, and in-app communications.
Subscription platforms with email have a 16% boost in engagement, and when combined with other channels, it may go over 20%.
Email, push notifications, in-app communications, and app inboxes increased engagement by 13% on gaming platforms.
Conversion Rates:
Fintech applications using email, push notifications, and in-app communications may achieve conversion rates of up to 31%.
16% increase in subscription app conversions via push notifications and in-app communications
Push notifications and in-app communications resulted in a 10% boost in gaming conversion rates.
E-commerce conversions increased by 6% thanks to a cross-channel approach that included in-app, app inbox, email, and push notifications.
App-stickiness:
More than 28% growth for Fintech platforms with more than three channels.
Stickiness increases by 30% to 70% on subscription services such as streaming or grocery shopping with two to four channels.
Stickiness increased by 32% on gaming consoles with more than three channels.
Stickiness increased by 26% in e-commerce platforms with more than three channels.
According to Jacob Joseph, VP of Data Science at CleverTap, “Many organizations generally approach consumer interaction with a narrower emphasis, which, although important may limit their effectiveness.” Our most recent report emphasizes the critical importance of a comprehensive strategy to achieve genuinely meaningful outcomes. Businesses may dramatically improve their engagement efforts by carefully combining a variety of platforms. The findings show that a comprehensive, all-in-one MarTech stack proves essential for marketers who must traverse the intricacies of several channels. This strategy not only handles the various issues, but it also improves overall engagement and effectiveness, guaranteeing that no client touchpoint is neglected and every encounter is optimized for success.”
Source- Medianews
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