Today CleverTap has put forward their latest report saying cross-channel marketing strategies boost conversion rate by 31%. Starting with what is CleverTap; is a California-based SaaS company that offers customer life cycle management and mobile marketing services in other words, it could be stated as an all-in-one engagement platform. Clever Tap was established in May 2013 and its headquarters is in San Francisco, California. Today the company has released its market research report on ‘Unravelling the cross channel Marketing strategy’.
REPORT HIGHLIGHTS
The report highlights the necessity of tailoring market approaches to capture the region’s audiences while maintaining a global presence. To the report revolves around the importance of understanding local and industry-specific nuances to maximize cross-channel strategies as the business group grows. The study analyzed over 600 companies worldwide and considered variables such as corporate growth stage, regional quirks, industry dynamics, customer lifestyle milestones, and user retention that may have an impact on or develop Omni channel strategy. The question of the strategy of a business is related to selecting the right number of channels and the right mix of logistics so as to adapt from the stage of business to the stage of the customer in their life cycle. One main measure of a business’s stage of progress is possibly the number of engaged consumers it has each period.
According to the report, businesses could witness around a 50% increase in conversion rates by using four or more channels as part of their Omni channel strategies in logistics. In the US and UK markets, email remains dominant but it is surprising to see that in this modern age, SMS holds a significant part in regions like China and the US where as WhatsApp is a main powerhouse in South America and Asia. As per the report, adopting an omnichannel marketing strategy can help a business to create an impact in the key results areas like app stickiness, conversion rates, and onboarding rates.
Some key highlights of the report include; a 23% increase in engagement rate on Fintech platforms with email, push notifications, and in-app messages. And 16% increase in engagement for subscription platforms with email marketing while it could reach up to 20% if combined with other channels of marketing. As far as gaming platforms are concerned, a combination of email marketing, push notifications, in-app messages, and app inboxes can create 13% more customer engagement.
Commenting on the report, Jacob Joseph, VP – of Data Science, CleverTap said that many organizations frequently learn client engagement accompanying a stingier focus, which, while main, can limit their influence. Our last report highlights the important need for a whole approach to doubtlessly drive stunning results. By strategically utilizing a join of channels, trades can considerably enhance their date works. The verdicts display that inclusive, proposals acceptable as package MarTech stack are vital for marketers the one must guide along the route, often watering the complicatedness of different channels. This approach not only addresses the abundant challenges but to intensify overall engagement and influence, guaranteeing that no client touchpoint is missed and all interplay is optimized for success.
