What is Omnichannel Marketing?
Omnichannel marketing refers to the multichannel sales approach that provides the customer with an integrated shopping experience.
Each channel works together to create a unified experience – the customer can be shopping online from a desktop or mobile device, via phone, or in a brick-and-mortar store, and the experience will be seamless.
Examples of omnichannel marketing include:
- A customer receiving an SMS message about a sale or promotion while shopping in-store.
- A customer receiving a cart abandonment email.
- A customer receiving retargeting ads for abandoned cart products.
Omnichannel Marketing vs. Multichannel Marketing.
- Omnichannel and multichannel marketing are two very distinct and separate marketing strategies, even though both focus on the use of multiple channels to reach consumers and potential consumers.
- Omnichannel marketing keeps the message relevant by having each channel update as the customer engages with your brand.
- Omnichannel marketing puts the customer at the center of the strategy. In an omnichannel marketing strategy, the message changes and adapts to how the customer has interacted with other channels. SMS marketing strategy should be part of omnichannel communication.
- Omnichannel approach inter-relates every channel to engage with customers as a holistic whole, to ensure they are having a wonderful overall experience with the brand throughout each and every channel. The focus is on building a stronger relationship between consumers and the brand.
- Multichannel marketing has largely static messages across several channels, but those channels don’t update and personalize with your customers’ needs.
- Multichannel puts the brand at the center of the strategy and sends the same message out to customers on all channels. This makes multichannel marketing completely different from the omnichannel meaning.
- Multichannel marketing is about casting the widest net to get the most customer engagements; the more the merrier. Companies utilizing the multichannel strategy are adopting two or more channels to engage their consumers; the most popular are social media and email.
Why is Omnichannel Marketing Important?
Omnichannel marketing is essential because it helps you create a positive experience for the customer at every stage of their lifecycle, reduce churn, and drive and build a positive reputation of your brand.
Let’s take an example. Imagine you are tired after a long day at work and want to grab a quick cup of coffee before heading home. You know your favorite coffee shop will be crowded in the evening, and you have no energy to stand in the queue.
Wouldn’t it be nice if the coffee shop had an option to pre-order coffee via an app, so you could enter the shop, collect your order and leave? That’s exactly what Starbucks did. It has made ordering and payment easier for the customer.
Their mobile payment makes up 29% of their transactions. Starbucks was not just able to enhance the customer experience, but could also boost its revenue through omnichannel technology.
How to create a perfect omnichannel experience?
To create a perfect omnichannel experience, begin with understanding your customer deeply (probably more than their best friend). Starbucks, for example, understood the pain point of the customer, i.e., their unwillingness to stand in a queue even if they are tempted to grab a cup of coffee, and used it to create an effective omnichannel experience.
Understanding your customer deeply would mean closely observing the kind of platforms your customers frequently use to shop, their purchasing behavior, the challenges they face while shopping, how they interact with the brand across each touch point, and the devices they use to shop.
This data will help you to identify the right touch-points and focus on strengthening them and connecting them to make it a seamless and tailor-made experience for your customers. It will also help you to identify the common issues that customers face and create a viable solution for them.
How to Boost Your ROI with Omnichannel Marketing?
To create a best-in-class experience for your customers, you have to show your management how you can boost the company’s ROI using omnichannel marketing. To help you do that, we have curated four ways in which you can boost ROI and build a positive experience for your customers:
Consistent messaging: Right from training your marketing, sales, and customer support staff to personalizing the content at every stage of the customer lifecycle, ensure that the messaging is consistent.
Consistent experience: If you want to improve the customer lifetime value (LTV), you must focus on delivering a consistent experience across different touch points Ensure that your staff is well-trained to provide such experience because different customers will interact in different ways with your brand, and there is no one way to do it.
Continuity in communication: Ensure that there is continuity in communication across all the channels, so people are guided throughout the buyer’s journey.
Data-driven marketing: Personalization is the key to successful marketing. Use data-driven marketing to understand your customers, so you can engage with them in the right way by using the right channels.
The success of Omnichannel marketing is very much dependent on understanding the customer and what all devices he uses frequently. It is different from the multi-channel strategy which ensures presence across media but not delivering a holistic experience.
Omnichannel marketing reaches the customer through all channels at their convenience harnessing the power of working together. Business processes should be more consumer-centric to get the best results. Often flatter organizations are best suited for such strategies and not hierarchical, according to analysts.
Omni-channel has helped businesses provide better customer experience and get rewarded in terms of increased loyalty, topline, and bottom line growth. All IT majors such as SAP, IBM, Teradata have all come up with solutions for omnichannel marketing which shows the huge opportunity emerging in this space.
The returns from Omnichannel will only in the coming years as consumers who tend to shop online and in-store as well tend to spend more than those who depend on a single channel.Follow me on Social Media