It’s been almost ten years since the advent of omnichannel, or multichannel, marketing, and in that time it has quickly become a new retailing paradigm. However, at its origin, there weren’t many tools to assist retail marketers, so this new customer-centric marketing model could be adopted only by big e-commerce players that could afford expensive individual IT solutions.
Nowadays, upon realizing the necessity of centralized data management, business software providers have introduced new, easy-to-use features for omnichannel marketing, making an omnichannel strategy easily deployable and affordable even for small- and medium-sized retail enterprises.
All retail businesses owe it to themselves to take a closer look at and better understand what omnichannel marketing is and why so many retailers consider it a necessity to effectively cater to today’s shoppers. And, in doing so, perhaps you might decide this strategy will become a critical next step in building a powerful and sustainable retailing business.
What is an Omnichannel Marketing Approach?
In omnichannel marketing, all channels you use to approach your customers work together to convey a solid, central voice of your brand and to provide your customers with the smooth, seamless and uninterrupted shopping experience.
For example, a shopper entering a brick-and-mortar store could receive an email or text with a coupon offer for the next purchase. Or, after browsing at your e-commerce store, a shopper might receive a text message with a discount for the searched product from your catalog. Or, for example, after a customer purchases a product, Facebook abandons the displaying of an initial ad to him/her again, but rather displays an offer with complementary items.
Digital and physical channels are merging, and an omnichannel approach empowers your business to orchestrate interactions across both. In other words, by implementing an omnichannel marketing strategy, you can deliver the right message to the right shopper at the right time.
The 10 Statistics You Must Know About Omnichannel Marketing
Many studies have come out regarding omnichannel marketing results, and the benefits of this shopper-centric approach are clear.
The following statistics reveal increases in both customer retention and ROI, as well as the overall effectiveness of omnichannel marketing strategies. Moreover, some numbers highlight the habits of customers retailers should take into account when planning the marketing strategy.
- 60 percent of millennials expect a consistent experience from brands whether they interact online, in-store or via phone (SDL).
- 73 percent of customers shop across multiple channels (Harvard Business Review).
- 48 percent of customers tend to share their information for more personalized experience (Deloitte).
- 86 percent of customers are willing to pay up to 25 percent more for products and services just to have a better customer experience (Omnisend).
- When an e-commerce marketer used three or more channels in their communication workflows, their campaigns outperformed single-channel campaigns in engagement and purchase rate by over 250 percent (Omnisend).
- Brands with strong omnichannel customer engagement have an 89 percent customer retention rating, compared to 33 percent for brands with weak omnichannel engagement (Aberdeen Group).
- Customers who have an omnichannel experience spend 13 percent more online than those who only use one channel (Omnisend).
- 40 percent of consumers purchase more from retailers that provide a personalized shopping experience across channels (The E-tailing Group).
- 37 percent now expect to be able to contact the same customer service representative regardless of which channel they use and 47percent expect to be able to return goods/purchases through a different channel than the purchase channel (Zendesk).
- 87 percent of shoppers think companies need to put more effort into providing a seamless user experience (Zendesk).
Key Benefits of Omnichannel Strategy to Take Away
As you can see, an omnichannel business model isn’t something “nice-to-have.” It’s already become a necessity – shoppers expect great omnichannel experiences and they even are ready to pay for it.
Other than that, omnichannel marketing strategies bring even more benefits to the daylight:
- You can better understand your customers and their needs.
- You can always be relevant and keep your customer’s attention.
- Seamless omnichannel experiences boost customer retention, so you will acquire an army of loyal customers.
- Delivering seamless user experience improves ROI.
Considering all mentioned above, writing a new omnichannel marketing strategy for your retailing business should definitely be a priority for you.
About the writer: Karolina Petraškienė is a digital communicator, content marketer and email enthusiast at Omnisend.