May 15, 2018
Over the years, thanks to technology and world wide web, retail marketing has undergone a sea change. It has given consumers many different options in which they can shop apart from physically going to a store. However, for a customer, shopping is an experience, so the expectations from an online store are the same as are from the physical store. The way consumers behave is blurring the differences between various channels. They might not even start and end their shopping process on the same device. As many as '63% shoppers use multiple channels when making orders over £100.' Retail businesses need to create an approach that integrates the various platforms to facilitate a seamless experience for the customer. And this is what Omnichannel is all about.
Utilizing multiple channels to communicate and reach out to customers in the field of marketing and retail is defined as Omnichannel. The evolving technologies have the retailers trying ways of adapting them into their marketing strategy. Technologies like Twitter, Live Chat, and live video chat have made real-time marketing a necessity. With the omnichannel, retailers are satisfied as more of their offers hit the right mark resulting in increased revenue and growth. To stay ahead in the competition, retailers need to align their goals and messaging for global commerce across the company. The message then is quite clear – invest in technology to cater to potential customers or lose them to a competitor. Retailers must adapt to change at a fast pace to meet the expectations of the customers. The same can be done through a personalized retail approach to each customer. Aspects such as customer engagement, information management, location intelligence solutions can result in improved customer experience. Omnichannel strategy helps retailers deliver a wholesome shopping experience that leads to enhanced customer experience and results in loyalty and higher profits.
As Omnichannel offers new opportunities, it is crucial that the same needs be capitalized. Retailers need to go step by step:
Many businesses have incorporated the same into their marketing strategy and have reaped the benefits. Some companies that have got it right are:
The growth in digital technology has empowered the global retail environment in a big way. The explosion in increased connectivity means that now there is a great deal of data and information on every possible area available for both the customers and businesses alike to exploit. The omnichannel strategy is the way ahead for companies to rise to the challenge and of understanding their customers and to be able to cater to their growing expectations.