Customers are rarely consistent and hardly homogenous. Therefore, when it comes to gauging customer sentiments, retailers must keep a close eye on multiple channels while looking to deliver consistency across diverse touchpoints.
Singling out a single marketing strategy isn’t relevant anymore, with almost 86 percent of global shoppers tending to hop across at least two channels for making purchases. Therefore, businesses that envision higher ROI and revenue generation must look to offer the best possible user experience, across all the existing channels, with each feeding off the other.86% of global shoppers tend to hop across at least 2 channels for making purchases. Click To Tweet
This approach breeds Omni Channel Marketing in its entirety and allows businesses to fare better as compared to the contemporaries.
Omni Channel Marketing: The Concept in general
Let’s start this discussion from the customer’s perspective!
Based on research conducted by the Harvard Business, a 14-month extensive study pattern, across 46,000 shoppers, revealed a few startling facts for the businesses.
At least 73 percent of the surveyed customers preferred jumping across channels as a part of their cumulative shopping journey.
This figure reveals that a customer cannot be expected to use only a single channel for making purchases. He might have the tendency to use the web interface, mobile applications, make direct visits to the store, or give out a call at times, to make the purchases.
Instead of guessing what the customers’ next move will be, it is better to offer a seamless experience across every channel.
Channels, Touch Points, and Marketing
The same survey also revealed another interesting fact. Customers who use more than four channels to interact with a brand usually spend at least 9 percent more as compared to an individual who persists with only one channel. Here is one factor that shows that if the customer starts liking the brand, courtesy of his experience across a few channels, he eventually accommodates other channels and interacts with the brand across several verticals.
Customers who use more than 4 channels to interact with a brand usually, spend at least 9% more as compared to an individual who persists with only 1 channel. Click To TweetOmni Channel Marketing targets multiple customer touchpoints across these channels and helps businesses plan out a strategy that engages, acquires, and subsequently retains clients at specific points of their buying journey.
From the perspective of a retailer, Omni Channel marketing entails targeting customers via website apps, emails, WhatsApp messages, SMS, social media interactions, brick-and-mortar stores, telephonic interactions, retail events, and more.
Furthermore, businesses must offer a seamless, positive, and interactive experience across each one of the mentioned channels.
How does Omni Channel Marketing help?
An air-tight Omni Channel marketing strategy takes the entire customer buying journey into account. Accordingly, it targets the specific channels and touch points pertaining to the journey and offers a positive experience across every channel. Besides improving customer experience, this approach also drives a positive brand reputation.
Benefits20% surge in performance as compared to other companies who do not use Omni Channel Marketing Click To Tweet
- Increased transparency across multiple channels
- Reduced churn
- Increased customer acquisition
- Higher customer retention
- Streamlined and extremely targeted interactions
- Synchronized marketing approach as no channel has to work in isolation
Tried and Tested Results
- Personalized, one to one client interactions
- Almost a 20 percent surge in performance as compared to other companies
- A minimum of 6 percent revenue growth
- Massive purchase completion influence amounting to almost 92 percent
Things to be aware of before implementing
- Concepts can get a bit overwhelming
- Businesses often lack desired channel integrations
- Customer buying journey can move faster than the business proactivity
- Lack of a cohesive CRM platform for data gathering
How to Implement Omni Channel Marketing?
A productive Omni Channel Marketing is all about offering the following attributes to the customers, including Convenience of Purchase, Consistency of Approach, Relevance of Interactions, Skill Empowerment, and Technological Agility.
To Implement Omni Channel Marketing, businesses must:
- Chalk out the customer buying journey including their channel-specific behavior
- Implement a functional CRM like LivePinch for accessing granular details regarding the customer lifecycle, including existing churn, website views, cart additions, cohorts, sales funnel, and more
- Use the insight for segmenting customers into select homogenous groups
- Apply the CRM induced segmentation for strategizing the relevant channels and approaches for each customer group
- Keep the context on point and based on customer behavior
- Understand the pain-points and issues faced by customers while making purchases
- Make use of relevant marketing tools for the concerned channels or an all-inclusive CRM that integrates every marketing feature within the interface
- Keep up the customer-centric mindset
Omni Channel Marketing for Improving ROI
Unlike the isolated nature of multi-channel marketing and the restrictive repertoire of cross-channel marketing, Omni Channel strategies are cohesive and way more productive. An Omni Channel marketing plan, if supplemented with a holistic CRM tool, can help organizations increase the ROI and overall revenue.
Here are a few ways in which Omni Channel Marketing improves ROI:
- Consistent interactions with clients across multiple channels
- Seamless, positive, and consistent customer experience across every touchpoint of the CLV
- Communication continuity to give ample attention to the customer
- Data-driven and analytical approach to marketing
Omni Channel marketing is a powerful tool that helps businesses to gain a lot of credibility and profits. However, you need to be proactive and patient with the strategies. To make the best use of Omni Channel marketing, businesses must chalk out inferences with a functional CRM at their disposal.
This approach brings a lot of intuition, technical aspects, better segregation, and granularity into the process, thereby helping businesses automate the marketing strategy, cohesively.