A survey conducted by a retail company in the US to understand consumer behaviour by interviewing 45,000 shoppers over a one year period threw up some very interesting information:
- 8% were only-online shoppers
- 20% were store-only-shoppers
- 73% utilized multiple channels to shop
The study revealed that more the number of channels a customer employs to buy a product, the more valuable he becomes to the retailer. It proved that customers who utilise more than 4 channels spent 10% more than those who tapped into a single channel.
Thereby expounding the reality that omnichannel marketing is no longer an option but has to be construed as a strategy. Retailers have to rethink the consumer-lifecycle and find imaginative ways to acquire, engage, and retain customers through innovative experiences across multiple touchpoints.
Newer marketing channels are emerging, therefore it’s high time retailers seriously consider omnichannel marketing strategies against traditional ones.
Omnichannel Marketing Meaning
Most consider Omnichannel marketing as the process of utilizing more than one marketing channel to market your products – which is not so. Very many channels exist nowadays in the marketing environs. And marketers utilize them to send emails, distribute info on social media, send SMS, reach out via PPC and advertise on print. Basically they are having a multichannel pronged approach, but this isn’t omnichannel marketing.
Multichannel gives you the option of multiple touchpoints but it isn’t an integrated and seamless approach that omnichannel provides which is a telling difference. It was noticed that 86% of shoppers usually channel-hop through at least 2 channels before completing a purchase. 85% of retailers recognise this trend and have adopted omnichannel marketing strategy as a vital link in their business process.
With omnichannel a customer can move from one channel to another seamlessly. He receives an email from a brand, there is a flyer in his mailbox, a message that communicates an offer, a push notification reminding the offer, the social media pages give further information on the products available and the App he has downloaded could conclude the sale.
Example For Omnichannel Marketing Trends
Omnichannel marketing creates a positive experience on the whole and this is essential. A customer with a positive feel at every stage of the consumer-lifecycle is not lost but drives sales and builds a positive word-of-mouth for the brand. Imagine a situation where after a tough day in office on your way back you want to have a coffee from Starbucks on the go. But you desist when you realize the time you will have to spend. Starbucks understood the pain point of customers and brought in changes via omnichannel marketing thereby increasing customer satisfaction and enhanced revenue.
Now you can pre-order that cup of coffee on an App, pay for it and on your way, drop in pick you order and walk away in a jiffy. For Starbucks now mobile payments account 31% of their transactions.
Omnichannel marketing offers brands seamless customer experience that is not interrupted from start to finish. That is from awareness to engagement to purchase. And later on loyalty to future purchases. Omnichannel utilizes multiple channels but the difference is in how the customer espouses his entire marketing experience.
With omnichannel marketing a customer can click on a link in the email on his laptop and decide what to purchase from the information received on social media. He can then put the item in the cart and later on access the cart through an App which is available on his smartphone. He gets a push notification reminding him of the item in the cart when he is within the range of the store. That is what you call an omnichannel marketing experience.
Consumers Yearn For Personalized Service
A consumer greatly benefits from omnichannel marketing as the experience is without any interruptions. Data is shared among all channels so that they do not feel a lag in the service. The icing on the cake is that the brand benefits from more personalized data being shared. With each interaction or transaction on diverse mediums the customer willingly keys in the required data.
It was noted that 48% of shoppers were willing to share personal data in return for personalized service. 60% of that number is made up of millennials. Consumers are willing to share their location and personal details in return for improved service that a brand yearns to deliver. This will entail personalized emails with recommendations and suggestions targeted to their preferences.
Customer Journey and Omnichannel Marketing
Consider the customer journey before charting an omnichannel marketing strategy. The conversion of a consumer from awareness to being a loyal customer depends on his journey. It has to be break-free, smooth, and seamless with no interruptions or obstacles on the way.
The customer needs and expects the experience to be gratifying. The messaging and finally the purchase has to be seamless all through the cycle. The customer who goes from online research to in-store shopping looks for a similar and personalized experience. This is what makes omnichannel marketing worth emulating. There are innovative ways to get a product or service within the reach of a consumer. But doing it in a strategic, cohesive and seamless manner is imperative to have a successful campaign.
Omnichannel Marketing Definition
For omnichannel marketing initially you have to create your brand’s presence across multiple channels – online (App, Website, Social Media, Email, SMS) and offline (Shows, Call-centre, Retail stores) channels. This entails a positive and seamless experience throughout a customer’s journey. Businesses have realized that that offering a consistent experience across various touchpoints is imperative. And this will propel the creation of an amazing experience for your clients, enhance your revenue and enliven the ROI.
Once you fathom the significance of omnichannel marketing you can utilize its strengths to create a seamless and positive experience. Here positive and seamless are crucial as 65% of customers cite poor customer experience as reasons for attrition. To gain customers and keep them onboard it is imperative to engage omnichannel marketing. Strengthen your processes to offer a positive experience to your customers all through their journey.