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The Power of Omnichannel: Why Your Business Needs It Now

The Power of Omnichannel: Why Your Business Needs It Now

Omnichannel — it’s not just a buzzword! As a marketing strategy, it’s a necessity for any business that aims to thrive and scale. Omnichannel marketing aims to create a seamless shopping experience from the first touchpoint to the last, regardless of the channel your customer is using. Because consumers are dynamic, they continually  switch between different digital, physical, virtual, and social platforms. And they do so effortlessly, going from browsing and researching to making a purchase without a thought. 

And this omnichannel shopping behavior is constantly evolving to become more seamless, less discrete. Users discover new products and services while they scroll through social media, stream videos, or play games, rather than searching for specific items on specific channels at specific times. This means that ecommerce is more likely to rely on how closely brands can connect with consumers in the spaces they frequent — the spaces where demand, discovery, choice, and consumption converge.

Businesses need to devise a way to stand out and differentiate themselves from the competition to win and retain customers. One way this can be achieved is by delivering a top-notch omnichannel experience to their users. 

Recent research by Aberdeen highlights that businesses that have a well-defined strategy for managing omnichannel experience attain an average 91% higher increase in user retention rate year-over-year, compared to those that do not provide an omnichannel experience. These businesses also boost their CLV by 3.4% on average, while those that do not offer an omnichannel experience actually reduce their CLV by 0.7% year-over-year*.

Below are just some of the benefits of creating an omnichannel experience and why your business needs to embrace the power of omnichannel now.

Better Performance and ROI 

Optimize your marketing performance and ROI by reaching out to potential customers and engaging with existing customers through timely and relevant messages across different channels where users are more likely to interact and convert. 

For example, Cleartrip achieved 5x more cross-sells with personalized omnichannel marketing campaigns based on gaining a holistic view of the entire user journey. This  led to a deeper understanding of customer behavior.

Increased Engagement

Achieve a higher engagement rate by providing an omnichannel experience to users as compared to single-channel marketing. Because omnichannel marketing simplifies and customizes options for engagement, it eliminates barriers, making it convenient for customers to remain engaged or re-engage at any time. 

Here’s how BharatPe doubled their CTRs and created a seamless experience across all their channels, physical and digital alike.

Improved Insight Into Customers 

Collect more data and unify insights to better understand customers and their preferences, needs, wants, and buying behavior. This allows you to give them personalized experiences that ultimately boost sales. Customers that interact with your brand through multiple channels provide you with more data that can then be leveraged to understand them better. You can then customize messages, offers, and products to each customer segment or individual. 

Here’s how BlueStone used omnichannel marketing & recommendations to boost conversion rates by 32%. They leveraged data from all their sources – in-store as well as online, and then used CleverTap’s automated segmentation capabilities to get a single view of each customer and engage them across all the relevant channels. 

Enhanced Trust and Satisfaction in Your Brand

Build trust by offering multiple pathways to checkout, letting users choose their preferred mode and avoid payment hassles. Payment process should be secure and quick. Users must be provided with clear and accurate information regarding the terms of payment, fees, taxes, refunds, and more. Brands can thus build trust and confidence among customers, as well as increase conversions and sales.

Foster customer loyalty by being present where your users are and offering them a consistent and seamless experience across multiple touchpoints, which leads to more sales and higher CLV. Users who have a positive and consistent experience with your brand across different touchpoints are more likely to remain loyal and recommend your product or service to others.

Ensure customer satisfaction by removing the barriers to customer engagement and offering users consistent and convenient interactions with your brand. Your brand’s voice, tone, and message should be coherent and aligned across all touchpoints. Equip your users with quick ways to contact your brand, get support, and provide feedback. By doing this, you can further increase customer satisfaction and reduce churn.

The Power of Segmentation

Instead of communicating with each individual in your audience, you segment users according to similar attributes or needs. But how do you group these customers together? And why bother? Read our pocket guide to get a high level overview of user segmentation fundamentals in a highly visual, easy-to-digest reference.

The User Segmentation Pocket Guide

Get a high-level overview of audience segmentation fundamentals in a highly visual guide.

Download Ebook Now

 

Last updated on September 14, 2023