Omnichannel. You've probably heard and skimmed this buzzword repeatedly on your favourite marketing blog or in your sales meetings. Occasionally, you would possibly even drop the word yourself.
But when the word is everywhere, it can get confusing what people mean by it.
What is Omnichannel Commerce?
Omni-channel retailing (or omnichannel commerce) may be a multichannel approach to sales that specialize in providing a seamless customer experience whether the client is shopping online from a mobile device, a laptop, or during a brick-and-mortar store.
Omnichannel operations specialize in the whole customer experience—not the customer's personal affairs on different channels.
What Is The Difference Between Omnichannel and Multichannel?
Let's break the terms down one by one:
Single-channel commerce means selling your product or via one sales channel. This might be your brick-and-mortar store, your webshop, or a web marketplace like eBay. This alone can work perfectly well. But, if you would like to offer your customers a more rich experience together with your brand, it knows to check out additional channels where you'll sell your product.
Multichannel commerce means selling items to your customers on different channels, both online and offline. You interact together with your customer via social media, by phone, and in your physical store. Your online presence is on point, and your customers know where to seek out you. Multichannel is already an excellent strategy to urge people to engage together with your brand.
Omnichannel commerce takes place on multiple channels, too, just like the multichannel commerce strategy. Without multichannel, there is no omnichannel. The large difference is that omnichannel marketing connects all channels. This suggests your customer features a seamless experience across all platforms.
Benefits of Omnichannel Commerce
Better Customer Experience
As the number of touchpoints increases, so is the need for seamless integration from one touchpoint to a different one.
By breaking down the walls between the channels during a business, the buyer is empowered to interact with a corporation in a way that feels natural to them.
Increase In Sales and Traffic
Making your sales strategy omnichannel-proof isn't that straightforward. But it'll be worth some time and money.
Boosted Customer Loyalty
Not only omnichannel clients spend more, but they are also more loyal to the brand.
The same study shows that these customers had logged 23% more repeat shopping trips to the retailer's stores within six months after an omnichannel shopping experience.
They were also more likely to recommend the brand to family and friends than those that used one channel.
With an enticing business or brand story, you'll stop pushing mid-sale campaigns, discount coupons, and other traditional marketing tricks. Specialize in customer loyalty, and your brand is going to be safe.
This means that an omnichannel strategy won't only increase sales; it'll also improve your customer loyalty. Sounds good, right?
Enter Data Collection
Retailers who are ready to track their customers over different channels can better serve their consumers with a more personalized experience.
The omnichannel approach allows businesses to realize insights on how to create content. It offers that will encourage their customers to interact themselves in shopping more - not only online but also at the physical stores.
How does one Create an Awesome Omnichannel Strategy?
From web-only or store-only to a multichannel or maybe omnichannel experience, changing your single-channel strategy takes tons of your time, effort, and resources.
But it'll be worthwhile.
Here are five high-level steps to start an omnichannel channel strategy that works for your brand:
Get to understand your customer: Don't make assumptions—research your target audience's interests, behaviour, and wishes. Ask questions, invite client feedback, and leverage social media tools.
Please select the proper channels: determine where your customers are and what they're doing.
Choose a transparent purpose per channel: One channel mainly for interaction, the opposite of news updates.
Connect all channels: this is often the hard part and only works if you execute it correctly (omnichannel only). You will need the right technology to follow your customer across all touchpoints: from reading reviews on your website, seeing social ads, shopping at a web marketplace to finally purchasing at your physical store.
Maintain your channels: there is no time for leaning back, keep it up testing and improving your strategy. Document these touchpoints well to serve your client best. This way, you'll create a loyal customer base who keeps returning for buying more from you.
Are You Omnichannel-Ready?
Keeping up with the ever-changing world of commerce isn't easy.
Today, more and more brands are exploring the advantages of omnichannel. Shifting from single-channel or multichannel to omnichannel commerce takes tons of your time and energy. But it'll all be worthwhile.
A quick recap of the differences between single-channel, multichannel and omnichannel commerce:
Single-channel commerce sells through one sales channel, for instance as a store-only or web-only business
Multichannel marketing operates on multiple channels, both online and offline
Omnichannel marketing connects the dots between all media, offering customers a seamless experience across all platforms.
Also, read this related blog - Omnichannel Retail: Future of eCommerce