‘Gurus’ in the field have been saying for a while that omni-channel marketing is the future of retail, but it’s becoming increasingly clear that the conventional wisdom around omnichannel will need to change. Over the next several years, retailers will have to shift their focus from selling products to selling product experiences.
Most retailers are already familiar with omnichannel, the digital strategy that connects the customer to their favorite brands across various touchpoints. But to make the most of omnichannel—and take advantage of the opportunities it provides—retailers need to develop an omnichannel marketing strategy that sees the whole customer journey through the eyes of the customer.
When marketers say that omnichannel is a trend that will take your ROI, that is return on investment, from zero to hundred, they’re not kidding. In fact, the Omnichannel Marketing Technology Alliance calls it the fifth force for the industry. And why not? Omnichannel means you not only have a website and a brick and mortar store, but also a call center, a chatbot and a mobile app. Plus, literally any other touchpoint or platform you can think of.
Omnichannel marketing (also referred to as omni-channel retailing) has become one of the hottest topics in retail. It’s essentially the process of leveraging online and offline channels to reach consumers, and for retailers, this means offering customers a seamless, integrated experience that allows them to shop, pay, and track their orders wherever they want.
Omnichannel marketing is the future of retail. Omnichannel allows companies to serve customers across multiple channels of communication, significantly increasing customer engagement. And that’s not all. Omnichannel allows the ability to more efficiently manage inventory, customer service, and donations without compromising the customer experience.
The term “omnichannel experience” isn’t merely a marketing gimmick. It’s a technique to deepen your client engagement by providing seamless service across several platforms and devices.
Take Starbucks, for example. The company is well-known for its world-class coffee, but it also has a reputation for being a leader in the omnichannel experience game. Members of the coffee chain may recharge their cards through a variety of methods, including applications, in-store, and online. All of the channels are automatically updated with the modification.
Take, for example, Ola. You won’t be inconvenienced if you forget to bring cash. While in the cab, you can quickly add money to your ola e-wallet, and the driver will be paid automatically once the ride is completed. What a wonderful example of the utilization of the omnichannel strategy!
The omnichannel experience is unique in that it is not limited to a single channel. It provides customers with the same experience across all platforms and devices. It gives convenience and experience, which are two of the most important things a client looks for in a brand, regardless of what service or product they are looking to avail from you.
Customers leave a digital imprint, and with so much data about their preferences and browsing habits available, making sense of it all can be a daunting undertaking for companies. Marketers may use omnichannel marketing to understand the pattern of data and tie it all together in a way that gives customers a relevant and personalised experience.
For example, if you discover that your targeted advertisements for a certain product are performing especially well in one place compared to another, you might review your product inventory to ensure that more of that product is accessible in the location with the highest demand. This manner, your logistics will be more efficient, and your clients will not be disappointed due to a shortage of inventory.
According to a survey done by Aberdeen Group Inc, organisations with a strong omnichannel strategy were able to retain 89 percent of their clients, compared to only 33 percent for companies with weak strategies. Absolutely fascinating, isn’t it? When done correctly, omnichannel marketing may help you increase your income. Here are a few examples of how omnichannel marketing may help you increase your ROI.
Provide a consistent consumer experience:
According to an SDL survey, 60 percent of millennials demand a consistent brand experience across all channels, including in-store, online, and mobile phones. Omnichannel marketing allows you to go beyond message to provide your consumers a uniform experience across all channels. Because your consumer might be in contact with you through any touchpoint, there is no single method to build that experience.
They could shop online and pick up the item from the local store, or they could buy something at a store and have it delivered to their home. They’ll also be communicating with your company’s many divisions, from physical salesmen to online customer service. As a result, it’s critical that all of your departments be trained and work together to give great and consistent customer service.
Use consistent message across all channels:
According to a study by the Interacting Advertising Bureau (IAB), consistent messaging across numerous platforms may improve customer purchase intent by 90%. Any channel will be used by your customer to contact you. As a result, figure out what you want your consumers to know and teach your marketing, sales, and customer service teams to present a unified message. After you’ve taught your consumers, figure out what type of assets they’ll need throughout their customer lifetime and supply them with a personal touch. Through boosting client retention on your platform, personalise the content from acquisition to support.
Make data-driven marketing a part of your overall strategy, and then personalize the customer journey:
According to a research conducted by Forbes Insights and Arm Treasure Data, personalisation has helped 40 percent of CEOs increase their sales. Data-driven marketing gives you all the information you need about your customers, their habits, and their preferences. This information may be used to tailor the buyer’s journey and offer the relevant message to the right audience through the appropriate channels. It will also assist you in attracting and keeping more clients on your platform.
Ensure communication continuity:
While consistency in messaging and experience is critical for the success of your omnichannel approach, marketers must also consider continuity while developing an omnichannel marketing strategy. Assume a consumer has added an item to his shopping basket but has forgotten to finalise his purchase. You can send personalised emails, push notifications, and remarketing messages to remind the customer to finish it. A breakdown in communication might result in a conversion loss since your consumer may forget about the abandoned cart. We certainly would not want that, now would we?
In conclusion, an omnichannel marketing strategy can help your company reach billions in revenue in the next few years. The ever-increasing number of channels is constantly creating new technologies that will help your business increase sales. Apart from providing a smooth experience for your customers, omnichannel marketing has a number of advantages that may help your organisation increase sales and income.
In conclusion, your omnichannel marketing strategy will take your ROI from “0 to 100” as discussed in this post. I will leave you with one simple formula for building an omnichannel retail strategy: “See what they need. Listen to them. Inspire them. Lift them up. Drive them.”
