Did you know that marketers using three or more channels in any one campaign earned a 287% higher purchase rate than those using a single channel campaign? It’s no surprise that omnichannel marketing has gained traction in recent years, especially in light of the COVID-19 pandemic which has forced many brands to pivot online and those that emerged victorious were the ones that had established omnichannel strategies. So, what exactly is omnichannel marketing, why is it important and how do you implement it?
🌟 What is Omnichannel Marketing?
Omnichannel marketing is a multichannel sales approach carefully curated to provide a seamless shopping experience for the customer. In today’s digital age, consumers are utilising more channels than ever before to interact with brands. According to Marketing Week, consumers use an average of almost six touchpoints with nearly 50% regularly using more than four. By adopting an omnichannel strategy, businesses can ensure that their target audience enjoys a consistent, positive experience across all channels and touchpoints. There are several elements which are characteristic of an omnichannel experience:
A uniform brand tone and vision which increase brand recognition
Personalised messaging based on consumers’ interests and past interactions with the brand, promoting consumer engagement
🌟 Why is Omnichannel Marketing Important?
As a result of the increasingly aggressive targeting strategies used by many businesses, consumers have become more discerning when it comes to the brands that they choose to engage with and the branded content that they consume, evident from the rise in the use of ad blockers over the past decade where nearly 47% of internet users globally use ad blockers. Therefore, it’s imperative for businesses to embrace an omnichannel approach so as to reap the multitude of benefits afforded by it, thereby enabling them to stand out from the crowd.
Since the customer lies at the heart of an omnichannel marketing strategy where the focus is on delivering a seamless, connected and personalised experience across all channels, the overall customer experience is enhanced. Consequently, businesses will witness higher sales and an improvement in retention rates as seen from an astounding 90% higher customer retention rate of companies which have omnichannel strategies put in place.
Moreover, by adopting an omnichannel strategy, businesses will be able to portray a consistent, streamlined brand image and tone across the various channels, thus strengthening brand identity and recognition among consumers. This is especially important as 90% of consumers expect consistent interactions across channels. This will in turn encourage brand loyalty and increase repeat purchases.
🌟 How to Implement Omnichannel Marketing?
The million dollar question now is how you can go about devising and implementing a successful omnichannel marketing strategy?
You should begin by developing a deep understanding of your consumers through data collection and analysis - the platforms that they utilise when purchasing a product or service, their purchasing behaviour, the issues that they are met with while shopping, the nature of their interactions with your brand for each touchpoint and the devices they use to shop. By doing so, you will be able to correctly pinpoint and seamlessly integrate the different touchpoints that your consumers frequently engage with your brand. In addition, you will also be able to address the challenges that your consumers face by providing them with relevant solutions.
Next, you can conduct customer segmentation based on similar behavioural patterns and characteristics and draw up customer journey maps for each of the segments. This will enable you to generate more targeted campaigns which address the interests, user experience and interface, as well as external factors that are not within the brand’s control but may influence the purchasing decision.
Once you have implemented your omnichannel strategy, it’s crucial that you continuously test the effectiveness of your omnichannel approach. This ensures that the omnichannel customer experience is at an optimal level and your campaign budget is maximised while increasing your returns on marketing investment.
VK Transformation has first hand experience with Omnichannel Transformation for brands by tapping into the EDG Business Strategy and Branding & Marketing Strategic Development Grant for SMEs (up to 80%) and non SMEs (up to 60%). If you’re keen to learn more about how an omnichannel strategy can accelerate revenue growth, we’d be delighted to connect with you over a cup of coffee. Let us know your availability here: https://www.vktransformation.com/contact-us