16 Dec Omnichannel Marketing – A Futuristic Retail Marketing Trend
Consumers nowadays are multitaskers. They like to watch tv and shop online on their laptops simultaneously while reviewing the product they are shopping for on their phones on other websites. Savvy businesses have realized this and deployed multimedia strategies to take advantage of consumer behavior. Over the last decade, brands have evolved with powerful broadcast campaigns to increase website search traffic to boosting social media engagement and public relations buzz. However, this approach is no longer enough. In today’s speed of things consumers generally use a range of channels to discover, connect with and purchase from your brand. When your consumers have endless options to choose from, it’s much harder to track their route. Companies have to evolve their strategies and some did too. Consumers would want to connect with your brand anywhere from any device seamlessly. So, how do you accommodate this task? omnichannel marketing it is!
Forbes suggests that the value of mobile commerce is expected to grow by 37% by the end of this year and Google estimates that 90% of users switch between 3 different screens to complete tasks every day on an average. Omnichannel marketing is a strategic, multichannel approach that provides your customers with a unified brand experience across all customer touchpoints. These channels include physical storefronts, websites, social media, mobile apps, and catalogs. Customers should be able to reach out through their smartphone, a printed catalogue, or in person, without losing a sense of your brand identity. Companies that have a strong omnichannel customer engagement strategy in place retain nine in 10 of their customers (89%), compared to only a third for companies that do not (33%). Now many confuse this term with multi-channel marketing, even though they’re very different. Multi-channel marketing involves interacting with the customer on multiple platforms like blog, social media channels, and offline locations. You’ll use each of these channels to engage with your customers, but it’s not until you connect those avenues together that they become omnichannel. You might have an amazing social media campaign, a great website, and a fantastic approach to mobile marketing, but if they don’t work together as one, they’re not omnichannel. True omnichannel experiences come from cooperation and collaboration. It takes systems, creative, staff, leadership in alignment and humongous data to power omnichannel engagement. Databases and systems that can support a 360-degree view of your customers and share consumer interactions in real-time, regardless of device or channel and use the data correctly to reveal performance insights benefit from the omnichannel marketing approach.
How do you establish best practices?
Accounting for each platform and device customers use to interact with the company and then delivering a seamless experience across each channel and device.
Developing omnichannel infrastructure and making sure your site is optimized
Considering virtual reality experiences for customers and testing customer experiences
Personalising experiences, listening and responding on preferred channels and devices
Evaluating analytics and data to understand which assets work or don’t work so that you can optimise your content and improve customer experiences.
How do you benefit from this?
When you set up an omnichannel marketing, your SEO link building and content marketing strategies increases visitors to your website, which builds up your remarketing lists for Facebook and Adwords. From these remarketing lists your Facebook campaigns become more targeted and effective, sending more qualified traffic to your site. You can then capture more emails from your website email opt-ins, which fuel your email marketing campaigns even further. It creates a snowballing effect where traffic and conversions are continually multiplied. Now let’s talk numbers…
49% consumers buy from their favourite omni channel companies about once a week.
Businesses that use omni channel marketing campaigns receive 91% greater customer retention.
Companies with strong omni channel marketing engagement see a 9.5% increase in revenue, compared to only 3.4% for businesses without omni channel.
Few brands that use this strategy:
Apple had made sure that their mobile stores and their applications are completely in sync with each other. Customer can just walk into any Apple store and their concerns will be dealt with through the application. When a customer orders an item online to collect in-store, they receive an alert on their mobile device when they are near an I-Store. The alert brings up the relevant order information, which the customer can then present to a sales assistant.
Raymond is using a big digital screens in their stores on which the various styles are displayed to let customers engage . They also have a Virtual Try Room which by taking your body measurement will show how the garment fit to your body type. So one doesn’t need to go to the Physical try room anymore. Incase a customer can’t find a garment in store, they let you place an order online and fulfil it to your doorstep.
Pepperfry introduced their ‘Studio Pepperfry’ concept that showcase a curated range of furniture from its online portfolio and let customer feel and experience cutting-edge design furniture. On site interior design consultants assist in browsing the entire range and also offer free in-store design consultancy.
Starbucks though its app lets customers have the option of checking and re-loading their Starbucks card balance through their phone. The app streamlines your transactions with paying, tipping, and tracking abilities know no matter where they are or what device they’re using. Plus, any earned rewards are automatically reflected in the account without any action on the user’s part. The app even comes with a feature that allows you to identify a song you hear inside Starbucks and save it to your Spotify account.
Disney introduced their ‘Magic Band’ which is a wearable device for guests who can use it as a hotel key, as a device for storing pictures, as a FastPass for rides, and as a way to even order food, making the entire Disney experience seamless. One of the many features the Magic Band has is giving people estimated wait times for rides. This helps customers take advantage of the limited time they have at Disney parks.
Technology has come a long way over the past decade, big brands all across the world have already begun using this marketing system and the results have been quite positive. Don’t get left behind and make sure that you apply Omnichannel Marketing to your company or business.