An Introduction to OmniChannel Marketing
With the development and innovation in marketing strategies, marketers need to learn about a new set of terminology. The two most recent definitions most likely to be thrown at you in the commerce world are multichannel marketing and omnichannel marketing.
Definition of Omnichannel
You must be wondering what does omnichannel marketing means? In a nutshell, omnichannel is a cross-channel strategy for content that aims to improve the customer’s experience. Omnichannel also aims at developing better relationships with customers through all possible channels and touchpoints. It comprises both the traditional and digital channels. Also, physical customer experience, online experience, and point-of-sale commerce are also focused upon.
Definition of Omnichannel Marketing
An integrated shopping experience provided to the customer using a multichannel marketing and sales approach is Omnichannel marketing. All the channels must work in unison to create a collective experience. This means that any channel used by the customer such as desktop, mobile, physical store, etc will provide the same seamless experience.
Some examples of omnichannel marketing include:
- Sending out SMS messages to the customers intimating about a promotion item or sale while they are in the store. Any other digital medium can also be used to disseminate content.
- A customer receiving an email in case of unfinished cart checkout or abandonment.
- Retargeting the customer with ads for the abandoned cart as he/she might still be interested in it.
The Difference Between Omnichannel and Multichannel Marketing
You might be wondering that both these marketing strategies seem quite similar to each other. However, in reality, they are quite different and distinct. Both make use of different channels to target their potential customers and the product consumer.
These two terms are quite often mixed due to the thin line of distinction between them. In this article, we will settle this debate once and for all. At the very rudimentary level, you will not be able to make a distinction. The confusion arises from their basic definitions:
Multichannel Marketing: Multichannel marketing is the interaction with potential customers on multiple channels. The interaction channel maybe a website, a newspaper ad, email, Facebook ad, product packaging, or even word-of-mouth by loyal buyers.
Omnichannel Marketing: Omnichannel marketing is a multichannel sales approach aimed at providing an integrated customer experience to the user. The customer can use any channel such as digital gadgets, mobile, or the physical store and the experience will all be integrated.
Upon the first look, both of them appear to interact with customers using different channels. The deep meaning of these terms and the strategies that arise as a result lead in very different ways.
The basic difference between multichannel and omnichannel marketing comes down to the fact that omnichannel marketing gives great emphasis on the customer. The customer is the center center of all the attention and the company strives to provide a seamless experience that is a unified experience at every touchpoint instead of enabling that touchpoint upon use. It is an approach centered around consumers.
Channel vs Customer Approach
The main aim of the multi-channel approach is to spread brand and company awareness or content via any channel available. Multichannel marketing will aim at broadcasting the message to multiple customers as fast as possible to garner as much attention as possible. Companies making use of the multichannel approach are currently utilizing the social media channel and email channel to spread out their word.
The omnichannel marketing approach amalgamates every channel to provide a wholesome engagement. It will ensure that the customers have a delightful experience with their service throughout every channel. This nurtures a strong and loyal relationship between the customer and the brand.
Omnichannel customer experience reported a 91% increased retention of customers on average compared to those without the omnichannel marketing approach in effect.
The data says it all!
Persistence vs Commitment
The focus of omnichannel marketing on the holistic customer experience develops consistency. The businesses based on Omnichannel marketing ensure that their customers receive a consistent consumer experience on every channel.
A persistent brand image elaborates an increased sense of familiarization with the brand. Omnichannel marketers ensure that all internal departments are on board with consistent messaging. The HR, Social media, sales, and PR teams must propagate the same message throughout. This unification will ensure a strong message across all channels.
Making the Process Effortless
Omnichannel marketing strives to remove the effort required in the entire customer experience. When we focus on more available channels to connect, we tend to forget the customer’s level of tech literacy and effort. Omni is more of a multichannel approach. Omnichannel marketing understands the pain points in the overall experience and removes them to create a seamless and effortless customer endeavor.
Advantages of Omnichannel Marketing
Omnichannel and multichannel marketing strategies are both successful depending upon if they are applied right or not. It is widely believed that omnichannel is the zenith of marketing. Having various channels such as email or social media can be beneficial but they should be connected together to improve the customer experience. The basic philosophy of Omni rests on it.
1. Bolstering Brand Loyalty
Customers purchase only from the brands they trust and expect value from. Omnichannel marketing provides a consistent experience on all channels and a customized experience for each user. This embracing approach increases customer support and clearly provides more customer loyalty and retention.
2. Return Customers
Omnichannel marketing emphasizes on cross channel consistency. This ensures the customers see the brand and content in the same manner on all platforms, mobile, etc. This major factor proves beneficial for improving the rate of return customers. It also increases the customer base for brands and they purchase again.
With increased brand loyalty and more return customers, the sales are sure to increase. These efforts help to enthrall new clients due to personalization and word-of-mouth marketing by satisfied customers. More customers translate to more revenue. Data shows that Omni guarantees more money for your store or brands because more people potentially buy products.
How to Develop a Pertinent Omnichannel Strategy
The increased marketing channels have made the customer journey quite complex. Since the entire commerce is now online, it is important to upgrade accordingly. Let us discuss a few ways to implement a successful omnichannel strategy.
1. Think of the Buyer
The main difference between omnichannel and multichannel marketing is the prioritization of the customer over dissemination. The omnichannel success depends heavily on easing life and evaluating the journey of the customer and acting on their experiences.
Think of yourself as a customer in the store or doing online shopping and all the touchpoints you would encounter on the way. If they do not provide a consistent and seamless consumer experience, there is a need to get the major departments on board and make a change according to Omni.
A Customer-first focus has to be created for each eCommerce store with the unification of all channels ranging from social media to email. Every retail business needs to look for this.
2. Know Your Buyers
The marketing team must know who they are pitching their ideas. The target audience has to be understood and their demographics, goals, preferences, wants and needs should be addressed using appropriate channels. Value feedback and ask for customer experiences across the journey.
Prioritize buyer preferences and mobilize the right tools to analyze this data. Once you understand it completely, it becomes very easy to target and retarget consumers using Omni.
3.Appropriate Data Analysis Tools
Connect with your customers according to their preferences and needs. Choosing the right tools might take some time, but they can prove to be a game-changer once identified.
For example, some solutions include Customer Relationship Management Softwares, Market Automation Tools, Data Analytics tools, Facebook Ads, etc. Push your Omni campaign and content to consumers accordingly.
4. Audience Clustering
It is important to cluster the customers according to the characteristics that come out from the data analysis. This allows us to focus more on the customers that can provide more value to the business. For example, they can be based upon personas, paths, subscription status, online or offline buyers, etc.
This will allow you to tackle marketing and re-marketing efforts properly. Segment the channels according to each cluster and different consumers.
5. Personalization on Each Channel
Personalization is one of the main game-changers for any business. Customers want to feel appreciated and embraced. Establishing a one to one connection allows you to remove any pain points that might come in the way of a seamless experience.
This ensures more revenue and increased customer retention on your platforms. It also encourages return buyers and supports more traffic towards your store. Design your campaigns for better personalization and reducing time for consumers.
6. Focus on the Metrics
Track the appropriate metrics that are required to track the success of the current omnichannel approach. By capturing and focusing on the right metrics and data, you can better report on the success and focus on the areas that need to be improved.
The failures can be addressed to help revamp the strategy, enhance the ROI, and ensure more people buy products. Appropriate channels can also then be used for retail and purchase campaign.
The use of omnichannel marketing will better equip you to provide a more holistic and seamless experience. These efforts improve brand loyalty, increase sales exponentially, and improve brand awareness. In order to reap these benefits, current-age marketers need to shift towards this paradigm.
Any eCommerce store these days need to embrace Omni. More people who buy equals more money.
All retail companies are shifting to Omni due to the massive advantages it has to offer. And those who have not will shift with time. Go to the official website for better help!