CleverTap Report on Cross-Channel Marketing Strategies

CleverTap, an engagement platform, has released its market research report titled “Unraveling the Cross-Channel Marketing Strategy.” The report emphasizes the need for businesses to adapt their marketing approaches to regional audiences while maintaining a unified global presence. It also highlights the importance of understanding local and industry-specific factors to optimize cross-channel strategies as businesses expand.

Key Insights from the Report on CleverTap Cross-Channel Marketing

The report analyzed data from over 600 businesses worldwide, focusing on factors influencing omnichannel strategies, including business growth stages, geographical nuances, industry dynamics, customer lifestyle milestones, and user retention. The cross-channel strategy of a business involves choosing the appropriate number of channels and the right mix, depending on the business's growth stage and the customer’s lifecycle. The report noted that businesses using four or more channels in their omnichannel strategies saw up to a 49% increase in conversion rates.

Regional Channel Preferences of Marketing Channels

The report found varying preferences for marketing channels across different regions. For instance:

- Email is dominant in the US and UK.

- SMS is significant in China and the US.

- WhatsApp is widely used in South America and Asia.

Impact of Omni-Channel Marketing

• Adopting an omnichannel marketing strategy has been shown to improve several key areas:
• Engagement:
• Fintech platforms saw a 23% increase in engagement using email, push notifications, and in-app messages.
• Subscription platforms experienced a 16% increase in engagement with email, with further gains when combined with other channels.
• Gaming platforms noted a 13% rise in engagement using a mix of email, push notifications, in-app messages, and app inboxes.

Conversion Rates:

• Fintech apps achieved up to 31% conversion rates with the use of email, push notifications, and in-app messages.
• Subscription apps saw a 16% increase in conversions from push notifications and in-app messages.
• The Gaming industry recorded a 10% increase in conversions through push notifications and in-app messages.
• E-commerce platforms reported a 6% increase in conversions with a cross-channel strategy that included in-app, app inbox, email, and push notifications.

Stickiness:

• Gaming platforms saw a 32% increase in stickiness when using more than three channels.
• E-commerce platforms noted a 26% increase in stickiness with the use of more than three channels.

This report highlights the effectiveness of tailored cross-channel marketing strategies in driving engagement, conversion rates, and customer retention across various industries and regions.

Commenting on the report, Jacob Joseph, VP – Data Science, CleverTap said, “Many organizations often dive into customer engagement with a narrower focus, which, while important, can limit their effectiveness. Our latest report highlights the crucial need for a holistic approach to truly drive impactful results. By strategically utilizing a mix of channels, businesses can significantly enhance their engagement efforts. The findings demonstrate that a comprehensive, all-in-one MarTech stack is vital for marketers who must navigate the complexities of diverse channels. This approach not only addresses the numerous challenges but also amplifies overall engagement and effectiveness, ensuring that no customer touchpoint is overlooked and every interaction is optimized for success.”

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