According to Omnichannel Marketing Automation Statistics by ClickZ “Omnichannel campaigns saw an 18.96% engagement rate, while single-channel saw just a 5.4% engagement rate.” The report also states that omnichannel campaigns produce a 250% higher rate of purchase frequency than most single-channel campaigns and offer 90% higher customer retention rate than the latter as well.”
The statistics speak volumes about the scope of omnichannel marketing strategies. It seems like omnichannel is no longer ‘a thing’ of the future, it is here. and it’s here to stay!
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So, What is Omnichannel Marketing?
Omnichannel marketing strategies are designed to offer a seamless and highly efficient customer experience throughout the buyer’s journey. It aims at providing an integrated sales approach that combines various customer touchpoints in order to provide a wholesome experience and improve customer satisfaction levels.
Omnichannel marketing helps the brand to create a strong online presence and positively influence customers to repeat their purchases and continue their association with the brand indefinitely.
Why Do You Need to Switch to Omnichannel Marketing?
- Improvement in Customer Experience and Customer Satisfaction – Allowing customers access to the brand from channels of their choosing and offering 360-degree support is perhaps the easiest and the most efficient way of improving customer satisfaction and experience. A good customer experience has a direct impact on customer retention rate, revenue and customer loyalty.
- Smoother Operations – The prime advantage of switching to an omnichannel marketing strategy is that it streamlines the processes. From lead generation, sales support, and customer services to post-sales operations, everything is streamlined and handled efficiently which works in favor of both the brand and the customer.
- Better Understanding of the Customer’s Psyche – An omnichannel experience helps you to understand your customers better. It gives insight into their purchase habits, likes, preferred communication channels and other such details. It not only enhances customer experience but also helps you to understand your customers better. It enables you to design better strategies best suited to your audience as well.
- Competitive Edge – Customer retention has become a challenge with numerous brands offering the best services and products and competing against each other for the customer’s attention. Offering an omnichannel experience gives you a competitive edge and puts your brand way ahead of the competition.
- Helps with Targeted Marketing – With the data and insights accumulated through omnichannel marketing strategies, you can focus your marketing initiatives on the relevant audiences. This will help you save time, capital, and resources in the long run.
Challenges You Might Face
- Data Accumulation and Management – With so many options at their disposal, customers use various channels and mediums to reach out to the brand. This makes accumulation and monitoring quite a tedious task. You will need a dynamic platform to manage data and analytics to ensure the smooth running of your omnichannel marketing strategies.
- Real Personalization – Although to a great extent, automation can fulfill personalization requirements, however, customer expectations increase with every interaction or transaction. When it comes to customization, your challenge might be to meet those expectations.
- Technical Expertise – Needless to say, if you want to execute a successful omnichannel strategy, you will need a sound and experienced team to aid you in your journey. Your technical team will be the backbone of this operation.
- Budget Constraints – Creating and managing an omnichannel strategy is an extensive and expensive affair. For most brands and marketers, the expense incurred to execute omnichannel marketing is a major challenge.
Technologies Essential for the Smoothing Running of Omnichannel Marketing
To create a highly efficient and lucrative omnichannel marketing strategy you will need essential tools and technologies at your disposal. Not every company has the bandwidth to oversee and manage omnichannel experience, this is where automation platforms come into play. They will automate various activities as well as manage data and analytics efficiently. You will also need a platform to manage your rewards or loyalty program. It will oversee the complete operation of your program to ensure maximum customer satisfaction. You will also need to integrate your social mediums to your parent retail website. Integration is key when it comes to designing an omnichannel strategy and experience, without it, your strategy is most likely to fail.
Ideas to Enhance your Omnichannel Marketing Strategy
- Think Like a Customer – Whether it is omnichannel or multichannel, there is no better tip out there to improve your marketing strategy than to put yourself in your customer’s shoes. Ask yourself questions like ‘What’s missing?’, ‘What would make my customer experience better?’, ‘What kind of communication attracts my attention?’, ‘What kind of messages I prefer and on which channel?’. When you start thinking like your customers, you will find answers to most of your questions related to the performance of your marketing strategies.
- A/B Testing – For an extensive strategy such as an omnichannel experience to work, you need to test it out, fix any issues that come along the way, and streamline the processes before you finally launch it. A/B testing will help you identify issues and errors. Preventive steps should be taken before any of these cause hindrances in customer experience.
- Segment Your Customers – Categorizing your customers can help you offer better experiences to them. Segment audiences based on their purchase habits, preference to a certain kind of product category, and other such factors. This will also help you design targeted campaigns that offer better ROI.
- Clear Chaos at Touchpoints – No customer is excited about dealing with a hundred steps before checkout. Keep user interface simple, clean and efficient. Clear chaos at all touchpoints, making it easier for the customers to reach out as well as purchase from the brand.
Platforms to Help You Empower Your Brands with Omnichannel Marketing and Loyalty
- Annex Cloud – A dynamic platform that offers in-store and in-app omnichannel, result-driven loyalty solutions. The award-winning platform offers turnkey solutions to improve customer lifetime value. To receive a callback, click here
- Zeta Global – The data-based marketing company uses analytics and proprietary technology to acquire, engage and retain customers for Fortune 500 and Middle Market brands.
- Braze – Integrates with third-party systems using APIs and other technologies to offer better ROI.
- Capillary – The platform offers solutions to various sectors ranging from retail, fashion, restaurants, consumer goods to hypermarkets.