Cross-Channel Optimization- So what’s the buzz about it?
Every digital marketing planner is talking about ‘Cross – Channel Optimization’, so what’s the buzz about it? Let’s assume a customer has a budget of $20000 and has been active in 4 major digital channels, he would be advised to allocate $5000 for each channel. Sounds logic, yet, it may not be the most effective way of using the budget. So, what could be the issue? Let’s get to the bottom of the pyramid first to find some answers.
As digital market is growing leaps and bounds, the mediums that need to be targeted to reach your audiences also grow in numbers. Consequently, when the budgets were drawn for marketing campaigns, it had been all along different and separate for each medium or channel. For instance, social media had a different budget compared to paid mediums like display ads, pay per click etc. Just like the different budgets, the performances were also measured and monitored separately. The big question now is,’ does it work all the times?’ What happens if your Face Books campaign conversations rates are higher compared to the others say your email campaigns? Wouldn’t it make more sense to divert the fund flow to campaigns that are performing well on certain mediums compared to other? Isn’t it worth to concentrate where there is more action? Most certainly, you would agree with us and here is where optimization comes.
Cross- Channel Optimization helps you focus primarily on the measurable performance and secondarily on the channels that produce that performance. Instead of spending the money evenly on different channels, Cross- Channel optimization tools and techniques ensure that you optimally set one overarching marketing budget which is then spread across all the channels. In simple terms, you fix the budget, choose channels, drive content & creativity, and target customers as a whole for the entire campaign. Subsequently, the line between social, search and display budgets gets blurred and all your efforts will come together in one single unified campaign.
By adopting cross-channel optimization, your efforts and resources can be focused to create one comprehensive, unified campaign. Such campaigns enable you to achieve better ROI. You can track, analysis and measure campaign performances comprehensively and make changes in the intermediate including change in budget allocation or media mix to drive your expected performance.
It is one of the best strategies that allow your marketing programs to arbitrate between today’s many channels in the most effective way. Enabled by advanced technology, Cross Channel optimization is the way forward for many who want results for every dollar spent on their marketing initiatives.