msme

large

inventory

inventory

Open Site Navigation

Enstore integrates seamlessly to make your business smart and physical

From general store chains

to grocery stores, it’s customizable for all

Specialized digital marketing services to acquire more customers

One solution for all  your needs. This robust platform is scalable through effective stock management

The inventory management system and POS communicate to give you a detailed report at any time

features

7 Advantages of an OmniChannel Strategy

Updated: Oct 22

Introduction

It's no longer only a template for big corporations and billion-euro brands to follow when it comes to an omnichannel strategy. Customers worldwide are stating that they anticipate an “Amazon-like” experience while buying, even from small businesses. It's no longer enough for companies to have a website and provide average customer service; today's firms must be outstanding to survive.


Customers today demand a smooth omnichannel experience, round-the-clock customer support, and personalised communication. Companies that do not meet these standards will be left behind. Another firm is always a click away from the customer. An omnichannel approach helps both businesses and customers, but where should organisations begin their digital journey? We will discuss this further in the blog.


Defining an omnichannel strategy

An omnichannel approach connects all of a company's touchpoints, including physical stores, social media, websites, email, and smartphones. Customers may travel effortlessly between various channels without hitting any dead ends as a result of this. A holistic approach differs from a multi-channel strategy, which operates in silos across numerous touchpoints. In a nutshell, an omnichannel approach blurs the lines between channels to place the consumer at the centre of the experience. Although e-commerce is expanding, retail continues to play an essential part in the lives of customers. Even if the function of the store is changing, a huge number of consumers still choose to buy in physical stores rather than online.


Customers and merchants are beginning to see the store's potential as a showcase and a source of customised experiences. In-store events are becoming increasingly popular as a way for businesses to engage with their customers – think courses, contests, and tutorials, as well as meet-ups with brand supporters and influencers and product demos. They're also leveraging their floor space as a brand display since it offers a physical, sensory buying experience that the digital world can't equal.


So physical stores have a future all they need is to be smoothly integrated with a company's other channels. An omnichannel approach, in theory, improves organisations by bringing their physical and online channels together and strengthening their strengths, making them stronger than they would be on their own.



7 advantages of an omnichannel strategy for a business

In today's world, an omnichannel approach is fast becoming the norm. According to Coresight research, 74% of retailers have begun or are in the process of implementing an omnichannel strategy. Unfortunately, businesses that haven't started to consider an omnichannel strategy are stuck in second gear. According to the State of the Connected Customer study from Salesforce, 67 per cent of consumers use several channels to complete a single transaction. This indicates that firms that don't offer multichannel interaction are giving their clients a bad experience. Below we discuss some of the advantages of an omnichannel strategy.


1. The omnichannel strategy isn't just about going one way. Customers, in other words, want you not only to check and purchase but also to provide excellent service through whichever channel they pick. Studies reveal that:

  • Regardless of the medium, 64 per cent of customers want real-time customer service.

  • Customers will return to firms that provide good service in 75% of cases.

2. By providing consumers with a comprehensive and consolidated database accessible via any channel, you can increase the exposure of your items and promotions while also providing them with all the information they want. Remember that 81% of people compare postings from their peers before visiting an actual shop.


3. Customers want to buy in the most convenient way possible; therefore, an omnichannel experience is ideal for coping with the various options accessible to them. Businesses that use a consistent cross-channel marketing approach see a 13 per cent increase in client retention rates each year.


4. Regardless matter how much money your firm spends on marketing and advertising, nothing beats the power of word of mouth. According to Forbes, a Nielsen survey found that 92 per cent of customers trust recommendations from friends and family over all other types of advertising.


5. Your business will be able to track its consumers throughout all of its channels and, as a result, have a deeper understanding of them by knowing their preferences, such as the product cards they've looked at, the offers they've clicked on, and so on. This enables for further personalisation of messages and promotions with each client, making them feel valued. They'll get the impression that you don't just treat them like anybody else, but that you know who they are and care about them.


6. According to the Harvard Business Review research referenced above, omnichannel consumers are 30 per cent more valuable. Similarly, it's important to remember that repeat customers provide 40% of revenue when it comes to client retention, even if they only make up 8% of the entire base.


7. It is no longer sufficient to have an online and offline presence; everything must be linked. The ultimate objective should not be to increase sales in a single channel but to enable purchases to happen easily and smoothly in the channel that your client prefers. For example, some fast-food restaurants, such as McDonald's and Foster's Hollywood, provide discounts and promotions to their consumers via mobile applications, which they may use in their actual locations by showing the staff their smartphones. This sort of contact at all levels strengthens customer relationships and encourages them to participate and interact with your organisation on their terms.


Conclusion

The customer journey is redefined by omnichannel experiences, which provide businesses and customers with better, more natural ways to interact. Companies like Amazon, Disney, and Starbucks have upped the standard for omnichannel experiences, and smaller businesses must adapt to stay up. The current moment provides a fantastic chance to do so since many stores and touchpoints are simply begging to be reinvented. Companies that can develop innovative ways to implement an omnichannel strategy will win customers and thrive in the long run. Those that don't will find themselves lost in a maze of unconnected silos, empty shelves, and disgruntled customers


2 views0 comments