If Cross-Channel Marketing Opportunities Were a Snake …
Like the apple in the Garden of Eden, marketers want to take a bite out of cross-channel marketing opportunities. While it is clear that marketers understand there is opportunity in cross-channel marketing, what is equally clear is that the scope of the opportunity is, at times, eluding the most sophisticated marketers. With that in mind, let's review some of the basic stats that underpin the cross-channel opportunity.
Illustrating how one channel can drive understanding of consumer engagement in another, we see that, according to Epsilon's findings based on analysis of more than 40 clients' data sets:
- In any given email campaign, marketers capture 40 percent to 50 percent of the opens on a desktop computer. When we look at the opens during a 30 day period, however, we see that we can capture at least one desktop open for up to 60 percent of the month's unique openers;
- With the above numbers in mind, we see that 30 days of email sending results in a display retargeting opportunity leads to cookies being placed on 60 percent of the consumers who open emails in a 30-day period—a significant opportunity when you consider both the size of the average email marketing list for Fortune 1000 companies;
- For companies looking to tie social activity and email addresses together, there is an opportunity to get social media insight into approximately 45 percent of their customers. Using email addresses as the matching key, marketers can understand which of their consumers engage in social media activities and on what sites. Marketers can also use this to understand how socially active those consumers are on the various social media channels and, more importantly, they can see the topics that are driving consumer conversations.
What these numbers tell us is that vast cross-channel marketing opportunities exist today, and they exist today within the typical Fortune 1000 company's current marketing program. Unfortunately, today's marketers tend to be specialists who think and act within a particular medium. As a result, they often overlook the learnings in their specific marketing channel that can power marketing efforts in another channel.