From the consumer’s perspective, multi-channel represents greater choices and information and ordering round-the-clock 365 days a year. From the marketer’s perspective, multi-channel poses challenges, ranging from delivering consistent experience across all channels, to fully utilizing the strengths of each channel.
According to a Holiday Shopping Study conducted by DoubleClick in January 2002, customers who interact with a retailer through multiple channels is likely to spend more than other customers. In a study conducted by Home Shopping Network, customers who shopped at both HSN TV and HSN.com spent 26% more than those who shopped using just a single channel. And, Multi-channel shopper purchases 70% more frequently than the average store customer and 110% more frequently from the retailer’s catalog.
Shoppers Spend More Through Multiple Channels DoubleClick finds:
And Penny customers show:
Advertisers and marketers need to know how and where the consumers are spending in each channel in order to intelligently allocate marketing budget across multiple channels correctly and formulate their marketing strategy accordingly. Data integration, however, is frequently an issue. In a Forrester Research survey conducted in September 2001, the results showed that 63% of retailers and travel suppliers expect to use 3 or more sales channels by 2003. Often, though, companies have their e-mail database in one place, website transactions and interactions in a separate system, and another for the customer and prospect master files.