Marketing budgets are declining just as paid media costs are rising – meaning brands get less for every dollar spent, and fewer dollars to start with. But latest research commissioned by The Trade Desk into omnichannel versus multichannel media planning could provide sweet relief.
In short, the difference between omnichannel and multichannel planning is that omnichannel campaigns are connected by data and technology from the get-go, whereas multichannel campaigns put ads into different channels one by one. The distinction is subtle – but the disparity in results can be massive.
Across UK, US and Australian markets, the research found omnichannel ad campaigns outperform multichannel campaigns on nearly every metric by up to 90 per cent, delivering steep upside for marketing teams in improving the ROI performance of their paid media schedules.
It also found that properly linking campaigns across channels significantly reduces the mental load on consumers, and therefore ad fatigue, and drives more conversions, faster.
Versus “disconnected” multichannel campaigns, omnichannel campaigns were “one and a half times more persuasive, 50 per cent better at building emotional connection with audiences and 70 per cent better at encoding messages in long-term memory”, according to The Trade Desk Director of Marketing Research and Insights, Sara Picazo.
Brands switching to omnichannel approaches also report massive performance gains: Picazo said working with The Trade Desk, IKEA boosted conversions by 339 per cent and cut time to conversion by 10 per cent.
Likewise, Nunn Media Head of Digital and Data Lee Foster said brands taking an omnichannel approach are making lasting reductions in performance media costs – one client has cut cost per acquisition by 24 per cent, sustained over a nine-month period.
Picazo and Foster urge brands not already harnessing omnichannel approaches to test the theory themselves. But the research also has implications for the way brand and agency planning teams are set up.
See omnystudio.com/listener for privacy information.
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