Not long ago, the debate revolved around the terminology and correctness of using ‘multichannel’ and ‘omnichannel’ interchangeably. The difference, though subtle, holds a lot of significance now. To understand the difference between these similar-sounding terms, let’s unpack their meaning first. Gone are the days when brick-and-mortar stores were the only option. Nowadays, customers expect brands to offer multiple channels of contact, including online stores, social media, and even chatbots. But is it enough to simply be "multichannel," or should we strive for something more? This is where omnichannel retailing comes in. Yes, it may sound like just another buzzword in the ever-evolving marketing world, but omnichannel presence is so much more than having multiple channels of contact. It's about providing a seamless and consistent customer experience across all channels, from the physical store to the website and everything in between. In this article, we'll dive deep into the world of omnichannel presence and explore how it can make all the difference when it comes to building customer loyalty and satisfaction.
What is an omnichannel presence?A brand's omnichannel strategy strives to offer customers a seamless and integrated experience across a variety of touchpoints or channels. E-commerce channels that might fall under this category include social media, email, websites, apps, mobile SMS, phone/call centers, and physical storefronts. Businesses can increase customer happiness and loyalty by offering a consistent experience across all channels. For instance, a consumer who searches for fashion advice on Instagram, goes shopping in person, and then purchases something online wants the same degree of support and assistance throughout the process. The consumer is more likely to feel appreciated and satisfied if a company can do that. Furthermore, delivering a great client experience requires a seamless transition between channels. Regardless of their channel to communicate with a company, customers anticipate their interactions will continue where they left off. For instance, if a customer adds an item to their online cart but chooses to finish the transaction in person, they anticipate finding the identical item in their basket when they get there. Therefore, an effective omnichannel strategy should strive to deliver a seamless and uniform experience across all touchpoints, encompassing both online and offline channels. Businesses can use this to promote client loyalty and happiness, increasing sales and revenue.
Starbucks and its Amazing Omnichannel StrategiesIn 2018, Starbucks had 60 million monthly customers who had no connection to the brand online. In March 2018, the business made the decision to gate free Wi-Fi as a response. Customers first have to register with an email account in order to access the internet. In exchange for free Wi-Fi, Starbucks was able to obtain consent to reach customers via a new channel (email). Customers who had entered their email but had not yet registered for Starbucks Rewards (SR) were referred to as "digitally registered customers" internally. Since launching this category, Starbucks has added 10 million new digitally registered customers to its database. Starbucks developed exclusive discounts and experiences specifically for Rewards members to encourage channel adoption further. For instance, Starbucks Rewards members who order a handmade beverage in advance through the app (grande or larger) receive a coupon for a free drink that can be used within a week. Customers are encouraged to use the Starbucks app as part of this promotion, which calls for them to be signed up for Starbucks Rewards. Starbucks provides Rewards Members more than just one-of-a-kind deals. They frequently design whole experiences for their customer base. For instance, during their yearly "Starbucks for Life" promotion, Rewards members can amass game pieces by purchasing particular goods. Starbucks for Life is one of the rewards, along with $500 gift cards , Bose earbuds, and more! Starbucks has been successful in creating a digital relationship with clients through the use of these methods, converting them into devoted patrons who use the app to place orders in advance and pay for their drinks. This is an illustration of how Starbucks expanded its omnichannel retailing strategy through incentives and forced channel adoption and how other eCommerce companies might benefit from their technique.
Steps to the Best Omnichannel StrategyMaking sure that a customer's experience is seamless and consistent across all devices, channels, and platforms is a key component of implementing an omnichannel strategy. Providing a comprehensive view of the customer journey necessitates integrating and synchronizing several touchpoints, including social media, websites, mobile apps, email, chatbots, and in-store interactions. Starbucks is just one example of the multiple businesses that have expanded the capabilities of what their company can achieve by adopting a great omnichannel presence strategy. Here is a short guide on how you can build yours.
1. AnalyticsDon't worry. You're not the only one that struggles to give your customers a seamless buying experience across all platforms. The good news is that a solution is available in the form of omnichannel marketing analytics. For this to work, you'll need to set up a cutting-edge data and analytics tech stack. Fortunately, many external tools and solutions, including Customer Data Platforms (CDPs), can assist you in determining how efficient your sales and marketing initiatives are. Using data visualization, you can monitor all marketing initiatives made across all platforms, ascertain what is actually happening on various platforms, and immediately take necessary action. However, with 65% of marketers having issues with data centralization, data silos, and centralization are the second-biggest obstacles to a well-rounded omnichannel marketing plan. The first step is collecting information on who is visiting your website or other touchpoints, how they got there, and if they convert. ETL, or "extract, transform, load," is the procedure you must go through in order to examine this data. This entails gathering data from many sources, repurposing it, and placing it in a data warehouse. After you have all of this information, you can create the ideal omnichannel strategy by combining the following four elements:
- Prediction: More often than not, you should be able to anticipate what will happen next. For instance, you can expect that presenting consumers who are browsing a certain product page with comparable products will enhance conversions if you discover that they convert more frequently.
- Real time monitoring: Dashboards should enable you to keep an eye on your marketing and consumer interactions in real time. For instance, you can act right away to look into the issue and make improvements if you see a dramatic decline in website traffic or email open rates.
- Customer information: You should be able to Extract customers' historical and profile-related data as well as their current behavioral data from your website and app, email campaigns, social media, customer reviews, comments, and ratings, support tickets, or claims. You may then customize your marketing initiatives by developing a thorough understanding of each customer's journey.
- Cohorts, segments, and workflow: Create cohorts, segments, and workflows that enable you to identify accomplishments and issues quickly and take immediate corrective action. For instance, you may establish a cohort of clients who have made several transactions over the past year and extend a loyalty program to them in an effort to keep them coming back.
2. Trace the Customer's JourneyBuilding an effective omnichannel strategy that grabs your consumers' attention, resonates with them, and turns them into repeat customers requires a thorough understanding of the customer journey. To do this, you must figure out where your clients are currently present and what platforms they frequently use, as well as information about their purchasing patterns, preferred social media sites, and events that catch their attention. Yet, simply knowing where your clients are is insufficient. You must comprehend their path from discovery to purchase, as well as their Zero Moment of Truth (ZMOT), or the point at which they decide whether or not to buy your product after doing some research. This frequently happens before consumers ever reach your website, emphasizing the value of being present across a variety of platforms and touchpoints. You must map your customers' pre-purchase journey using analytics in order to determine the best conversion paths. You will gain knowledge of their interactions with your brand and the most effective touchpoints as a result. Using this information, you can design an omnichannel purchasing process that converts every digital touchpoint into a customer action. Making each touchpoint interact with your clients in an integrated and personalized way is essential to attaining this goal. This can be accomplished by directing your clients toward conversion with the help of targeted advertising, email campaigns, social media involvement, and tailored suggestions. In the end, developing a successful omnichannel strategy necessitates ongoing investigation, evaluation, and development. You can design a purchasing experience that thrills and inspires your customers by understanding their requirements, interests, and behaviors. This will foster long-term loyalty and success for your company.
3. Make Every touchpoint countCustomers today want a smooth purchasing experience, which necessitates making every touchpoint shoppable. So, exactly what does that mean? It implies that every time a customer engages with your brand, they need to be able to make a purchase easily and smoothly. Consider a scenario in which a client visits your website and adds a product to their shopping basket. Later, while they peruse their social media stream, they come across an advertisement for your company that features the very same item they were debating. When they click the advertisement, they are immediately redirected to your website, where the item is already waiting for them in their shopping basket. This is an illustration of a shoppable touchpoint that promotes customer loyalty to your business and eventually results in a sale. Email is yet another illustration of a shoppable touchpoint. It's possible that a consumer added items to their cart but decided against making the purchase before checking out. Sending them a reminder email with a quick link to their shopping basket allows them to quickly resume where they left off and complete the transaction. In conclusion, establishing a seamless customer experience that reduces friction and increases sales potential entails making every touchpoint shoppable. It all comes down to giving customers a convenient and tailored purchasing experience that satisfies their demands and encourages repeat business.
In ConclusionFinding their strongest consumer touchpoint and providing clear incentives for channel adoption are crucial for eCommerce stores aiming to extend their omnichannel shopping strategy. Saffron Edge's portfolio of products and services, which are intended to increase consumer engagement and boost revenue, can assist eCommerce organizations in achieving this. Visit our website right away to find out more about how we can assist your eCommerce company in developing a digital interaction with clients and in enhancing your omnichannel retailing strategy.
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