7 Reasons Why You’re Missing Cross-Channel Marketing Opportunities
The marketing landscape is changing rapidly. There are countless new tools to both target audiences perfect for your product and reach them in unique places. It is difficult to keep up with all of this technology, though. Especially in a large company where changing processes take time. There are some companies that have excelled due to their ability to stay up to date and capitalize on cross-channel marketing opportunities. Many companies, though, have struggled.
In order to continue to grow and reach potential customers, it is critical to stay on top of each marketing channel. With constantly changing channel ROI, being stuck with just a few options can be detrimental. Here are seven reasons you’re missing these cross-channel marketing opportunities to be on the lookout for:
1. Falling in love with one or two particular cross-channel marketing avenues.
In your marketing efforts, it is likely that there are a few channels you have deemed to be the best, (which is good). When that is the case, and you know the ROI you are going to get on those few channels, it’s difficult to extend beyond them. Doing so is critical, though. At some point, the success of the current channels is going to dry up, and, if you are not prepared, you are going to struggle greatly.
Plus, there are other channels out there that will yield a positive return. This means that even while continuing with your current successful channels, you can add new ones and generate a higher profit.
2. Lack of expertise in particular channels.
Beyond a desire to stick with the few successful routes, you might not know very much about other channels. That creates a barrier to entry since you have to learn about the new ways you can reach customers. This upfront cost (both in time and money) discourages cross-channel marketing. There are also channels you might not even know exist (or are effective in your market).
Constant reading and staying up to date with the latest in the industry helps. It will keep you exposed to different ways you can reach your audience. It also takes a willingness to learn and try new things.
3. Nobody to take accountability for a new channel.
Not only is there no expertise, but on a busy team, it is difficult to find someone to take the lead of a new channel. Entering into new realms often requires more work than initially meets the eye.
First, you have to find a team (or at least one person) that can take accountability for the channel. Navigating a team switch or an additional hire is a hassle. After that, you have to make sure they understand how the channel works.
Then you have to find a budget for that channel. Then, set up effective data tracking tools that can integrate into the rest of the customer view. When there is all of this upfront effort to get going on a new channel, it can be increasingly difficult to do so.
4. Not knowing what tools exist.
There is endless current technology to aid in marketing efforts. A lack of knowledge about the technological landscape makes it more challenging to reach audiences in different places. The less you know about which tools can help, the more manual labor that will exist.
Not knowing tools makes entering new channels more difficult than it needs to be. Instead, you should always be on the lookout for software than can better empower your team.
Reading articles, following influencers/newsletters that you like and exploring for yourself will have a dramatic impact on the efficiency of your team and channels.
5. High pressure to meet goals today.
When you have to hit certain goals for this week, month or quarter, an emphasis on the immediate can be placed. This makes it difficult to take energy away from those goals and put them towards a better future for your marketing.
6. Poor data tracking.
Managing data with new channels adds an additional component of struggle. It is critical to keep diligent data for costs, ROI, and effort spent on each of your channels. This will allow you to decide where to double down. When entering a new channel, it can be unclear how to collect and monitor that data.
When there is this additional pain point, there is even less incentive to enter the channel. Especially when you are at a very data-driven company.
7. Connecting and viewing the data in one place.
You need to unify your data to make it easy to digest. Creating one singular customer (or lead) view is a huge pain point for marketing teams. It can require engineering assistance, which might not be available to you.
There are some awesome tools that exist to help with this flow, but implementing some of them is time-consuming and frustrating. Do your best to make these work!