Multichannel marketing strategies have consistently produced impressive results for advertisers. Given that numerous communication channels are competing for consumers’ attention, it makes sense for marketers to use various messaging strategies across a variety of channels to increase their chances of connecting with and engaging their target audience.
But not all channels are created equally, and they don’t necessarily complement one another. The drawbacks of channel conflict are cited as difficulties with the entire process as frequently as the benefits of multichannel marketing are.
Even though they both have their uses, email and text message marketing are most effective when combined into a single content marketing strategy. Customers prefer it when brands employ omnichannel engagement strategies as opposed to relying solely on one marketing strategy.
Why Choose SMS Marketing?
Before the development of all the new digital communication channels, SMS stood alone as the only participant in the game. It was and still is among the simplest, most efficient, and swiftest forms of communication. It may be very successful when it comes to increasing customer engagement.
Customers may or may not use other forms of communication, but since SMS is so widely used and comes standard with all cell phones, it can never be ruled out. As a result, it is unlikely that anyone will miss a text message. Using SMS for marketing purposes can be very profitable because they are known to have high open rates.
It has shown to be effective at both attracting new clients and keeping hold of current ones. Additionally, it has been reported that most customers prefer texting to other forms of communication when interacting with businesses, which further increases reachability.
Why Choose Email Marketing?
One of the most popular digital communication channels used by businesses to connect with their customers and grow their clientele is email marketing. You can be more inventive and communicate freely with your customers because there is no word or character limit, allowing you to convey the true meaning of your message.
When it comes to email marketing, you can do a lot of things and play around with a lot of different elements, from adding images to attaching videos. Additionally, you can always test email marketing campaigns to see if they will produce the desired results before launching them, which can be very useful.
To harness the greater potential of the tool, it is always advised to tailor email messages to the recipients. Before launching the campaign, it’s critical to plan it out and set concrete, attainable goals so you can monitor how well it’s doing.
Advantages of Combining SMS and Email Marketing
You better believe that Combining mass sms marketing and email marketing can be the best promotional tool to perform all these functions and help you achieve all these benefits if you want to increase sales, increase conversions, grow your customer base, and improve customer relationships. Here are a few of the most significant benefits of combining SMS and email marketing.
1. Keep It Safe
Many consumers detest opening promotional emails in their inboxes. However, some people might find it irritating to receive a marketing text when their phone buzzes. This proves that consumers might have different preferences and that not all of them rely on the same kind of communication as you might think. Therefore, you can easily play it safe when you have both SMS and email marketing at your disposal. When you combine the two channels and find out which one your customers prefer, you can increase response rates.
2. Get Better Responses
If you only use one platform to market your company, you might or might not get the desired results, but if you combine SMS and email, you will reach twice as many customers. This implies that you can develop quicker and more accurate responses. If you want to get better and quicker responses from your customers, you should use both channels. You might send them messages, but they might or might not open them.
3. Expand Your Customer Base
It’s unlikely that the subscriber lists you’ve built for the two channels have different customer bases. You can communicate with all of your customers equally and ensure that no one is left out of the information when you combine SMS and email marketing. Through email marketing, you can run a test to see what kind of strategy and campaign will work, and then you can put that strategy and campaign into action.
4. Improved Insights
It is crucial to gain a deeper understanding of your customers’ behaviour, tastes, and other characteristics. Emails are a good tool for this because you can always add interesting elements, like feedback forms, surveys asking for suggestions, and the like, to find out more about your customers. Through this method, you can also, to a large extent, predict your future success.
5. Choosing the Right Medium is Made Easy
The ability to select the best medium is one of the best advantages of combining SMS and email. When you are unsure whether to use SMS or email, it is best to use both because you will benefit more from doing so.
Final Reflections
There is no denying that marketing via email to SMS is very important in today’s business environment. To improve and enhance one’s marketing abilities in light of the ever-increasing level of competition, one must first identify and decide which strategies should be used in their marketing campaign. While each tool has its own set of advantages and ways to make you money, combining the two will give you even more benefits.
Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
