Omnichannel is a buzzword that has been buzzing about significantly in the world of business and retail. However, it is much more than simply a buzzword– it is the key to a smooth marketing experience and an exponential increase in ROI!
A study conducted by Omnisend revealed that over the last year, marketers who used omnichannel marketing strategies earned a 287% higher purchase rate than those who opted for single channel campaigns. The drastic increase in the purchase rate is owed to the smooth and consistent user experience that keeps the consumer engaged.
What is Omnichannel Marketing?
Essentially, omnichannel marketing enables brands to strengthen their relationship with their customers, offering them seamless services across a range of platforms and devices. For instance, let us consider the strategy used by the iconic coffee brand, Starbucks. Indeed, the company is known for its world class coffee, but more importantly, it has also earned a reputation of being a top player in the omnichannel game. The eminent coffee encourages its consumers to sign up for a membership, which enables them to reload their Starbucks cards, not only in-store but through the website and their app as well. The change is registered and updated automatically across all channels, ensuring a smooth and coherent experience.
Do You Really Need Omnichannel Marketing?
Short answer: yes, for sure. For an in depth answer, keep reading below:
An Immaculate User Experience
The key to a successful business is a smooth, engaging user experience that appeals to your customer, builds trust and encourages them to make a purchase. This is the biggest plus point of the omnichannel experience– it is not limited to a single channel, therefore providing you with multiple ways to engage your customers and reach out to them across different platforms and devices. Most importantly, Omnichannel marketing provides your consumer with both convenience and customization – two things that today’s customer really looks for in a brand.
Customers leave their footprint online with every transaction they engage in; from their browsing behaviour to their choices and preferences. All this data can be supremely beneficial, however, converting the exorbitant amount of raw data into valuable information is quite a taxing task for a company.
Omnichannel marketing to the rescue! This type of marketing also allows marketers to make sense of the data; to uncover patterns, analyse them and unite the insights in a way that can be useful for providing a personalised experience to the customers.
For example, if you find that your targeted ads for a particular product are working exceptionally well in a specific area as compared to another, you can direct your resources into stocking up your inventory for that particular area in order to meet the increasing demand. Doing so entails a well-organized logistic department and ensures that a consumer never leaves disappointed!
Understand your Consumer
In order to create a personalised consumer experience that guarantees more sales, it is absolutely essential to first know and understand the demands of your consumers. Omnichannel marketing provides you with valuable data regarding the behavior of your consumers and uncovers their interactions with other brands. This gives you a clear picture of the preferences, patterns and needs of your customers, enabling you to target them better, create a better customer journey and make more sales.
Customer retention is not only important for profits but is extremely crucial for a brand’s image as well. Aspect Software reported that the companies adopting omnichannel strategies witnessed a whopping 91% higher over-the-year customer retention rate compared to other businesses.
This holds true primarily because omnichannel marketing allows you to remain in touch with your customers and engage with them on their preferred channel. It enables you to utilise numerous platforms in order to retarget your customers and keep them coming back!
Engaging with the customer can be quite a challenge especially when you are competing for their attention with the several apps on their mobile phone– your app may often end up being overlooked or neglected. Fortunately, omnichannel marketing can save you from neglect! It pushes you to think like your customer and present them with engaging, relevant content on the channel that they prefer. It also enables you to uncover and analyse the customer’s behaviour and preferences, and send them the kind of content that appeals to them specifically.
How Omnichannel Can Boost your ROI
If you own a brand, you know that it all boils down to ROI. Increments in ROI is the ultimate goal, and an effective use of Omnichannel can lead your right to it!
We all know that ROI is highly dependent on consumer experience, because whether or not a purchase occurs depends a whole lot on how the consumer feels when interacting with your brand. It can suffice to say that the more enhanced your consumer experience is, the more sales you will make and therefore, the higher your ROI will be.
Implementing an effective omnichannel strategy allows you to enhance your consumer experience. Undoubtedly, the quality of the experience increases dramatically if the strategy is well-executed.
Omnichannel essentially forces you to be more involved and think about your brand presence on a greater magnitude. This entails more chances to interact with consumers and consequently, lead to a happy customer base and a greater ROI!
Shatter your Competition!
Imagine you are planning on buying a pair of shoes. You have two stores in mind, the first resorts to the standard and somewhat outdated retail process where you visit their store and check out their products. They do have an online store, but it is rarely ever updated and often the shoes appearing on the website are not even available at the physical store. On the other hand, the second store offers a much more nuanced experience. Not only does it have a website that is updated constantly, it also allows you to try on the shoes through a virtual reality experience. They also frequently send you Newsletters, coupon codes and offers.
Which store will you choose? The second, for sure!
Which makes quite a lot of sense. When a consumer feels important and taken care of, they are more likely to make a purchase from that particular store. Trust and convenience are the two primary aspects of a shopping experience that keep the consumers coming back to your brand.
Consistency is the Key
Omnichannel’s greatest strength is that it focuses on all possible touchpoints a customer can have with a certain company. This can be quite a challenge for brands, however, it also provides them with a great opportunity to grow their business.
It is essential to make all your communication across the various platforms consistent throughout. If a brand is able to ensure that all the platforms deliver the same messages, provide the same coherent customer experience and remain updated, it can lead to a dramatic increase in sales.
If executed properly, omnichannel marketing enables you to provide your consumers with an immaculate, smooth and engaging customer journey that drastically increases their chances of making a purchase.
By creating a smooth, immaculate Omnichannel experience, you can effectively utilise the platforms that appeal the most to your consumer base. An efficient and optimised omnichannel marketing strategy allows you to give your consumers and unparalleled user experience– appealing to them, engaging them, stealing them away from competition and keeping them coming back for more!