Cross-channel marketing strategies have been found to significantly boost conversion rates, with a CleverTap report revealing an increase of up to 31%. The report delves into the importance of tailoring marketing strategies to resonate with regional audiences while maintaining a cohesive global presence. Understanding local nuances and industry dynamics is key to optimizing cross-channel strategies as businesses expand.
Research encompassing more than 600 businesses worldwide has highlighted various factors that influence omni-channel strategies, such as business growth stage, geographical nuances, industry specifics, customer milestones, and user retention. Selecting the right mix of channels based on business growth and customer lifecycle stages is crucial. Businesses utilizing four or more channels have seen conversion rates increase by up to 49%.
While email remains a dominant channel in countries like the US and UK, SMS plays a significant role in regions like China and the US, with WhatsApp emerging as a powerhouse in South America and Asia. Implementing an omni-channel marketing strategy has shown positive impacts on app stickiness, conversion rates, and onboarding rates across various industries.
Key findings from the report include:
– Fintech platforms experienced a 23% increase in engagement with email, push notifications, and in-app messages.
– Subscription platforms saw a 16% increase in engagement from email alone, while combining it with other channels resulted in over 20%.
– Gaming platforms witnessed a 13% rise in engagement with a mix of email, push notifications, in-app messages, and app inbox.
Regarding conversion rates, Fintech apps achieved up to a 31% increase from email, push notifications, and in-app messages, while Subscription apps saw a 16% uptick from push notifications and in-app messages. The Gaming industry observed a 10% increase in conversion rates with the same channels, and Ecommerce experienced a 6% increase from a cross-channel strategy involving in-app, app inbox, email, and push notifications.
App-stickiness metrics revealed substantial increases across different industries:
– Fintech platforms saw a 28% increase with more than three channels.
– Subscription platforms achieved a 30-70% increase in stickiness with two to four channels.
– Gaming platforms experienced a 32% increase in stickiness with more than three channels.
– E-commerce platforms observed a 26% increase with more than three channels.
Jacob Joseph, VP of Data Science at CleverTap, emphasized the importance of taking a holistic approach to customer engagement through a mix of channels to drive impactful results. A comprehensive, all-in-one MarTech stack is crucial for navigating the complexities of diverse channels and enhancing overall engagement effectiveness.
For further insights on cross-channel marketing strategies across various industries, the full report can be downloaded from CleverTap’s website.
