"Half the money I spend on advertising is wasted; the trouble is I don't know which half." These words, most frequently attributed to American entrepreneur John Wanamaker after the turn of the 20th century, are no less vexing to marketers 100 years later.
Sure, you’ve got a Web site, a catalog, maybe a retail store. These days, customers have to be able to purchase from you using whichever channel they please. But increasingly it’s not which channel a customer uses to make a transaction, but how many channels she uses. The average multichannel customer spends $466 per year, while a single-channel customer spends just $313, according to last year’s Forrester Research/Shop.org survey of retailers. With so many dollars at stake, it makes sense to dedicate resources to increase your chances for cross-channel success.