Understand the Benefits of an Omnichannel Business
Omnichannel Strategies set the tone for new consumer experiences in traditional retail.
Omnichannel is a type of communication and sales channel integration strategy. It is keeping in line with Digital Transformation and providing greater insight into the process of understanding customer needs.
Widely used by traditional retailers, the term gained strength again with the intense business transformation we experienced in 2020-21 due to social distancing.
Read on and find out what omnichannel is and how it could help you
What is omnichannel?
Omnichannel is a strategy for integrating a company’s sales and relationship channels, offering a fluid shopping experience, ensuring customer satisfaction.
An omnichannel strategy, among other goals, aims to:
- Ensure digital presence.
- Collect inputs to enrich the customer’s interaction history with the brand.
- Track customer needs.
- Diversify and expand contact points for different forms of media.
- Allow a cross-checking of data that helps to draw more detailed customer profiles, helping to increase sales and/or loyalty.
Omnichannel vs. Multichannel vs. Cross-channel
Recently, terms like multichannel and cross-channel have added more complexity to the omnichannel context. But this complexity is only theoretical.
Omnichannel is a strategy that revolves around the company’s customers. The idea is to create a unique experience for them. The integration of channels (like e-mail, phone, and social networks) opens up possibilities on different fronts, such as more assertive sales, marketing, and services.
Multichannel is a strategy that focuses on the company’s products. It allows customers to buy that product through different channels, which act independently of each other. In other words, each channel has separate sales, marketing, and service opportunities from one another.
Cross-channel is perhaps the most recent term of the 3. In a cross-channel strategy, the purchase can be made online, and the acquiring of the product can be made in the physical store.
In this way, there is no competition between the channels, as they start to complement each other.
Note that most strategies today end up being crosschannel. But the omnichannel channel integration concept continues to be used to name these sets of macro practices. This is more or less what happens within Digital Transformation as well.
What are the benefits of an omnichannel strategy?
You may have already realized that customer focus is the basic principle of omnichannel. Investing in a better experience is what brings certain benefits, like:
- Customer retention;
- Greater purchasing convergence;
- Omnichannel users tend to spend six times as much as non-omnichannel ones
- Brand image improvement.
How to start implementing an Omnichannel strategy?
Brands that have adopted omnichannel strategies seek to win over consumers regardless of where the sale takes place.
The most famous example is online purchasing with in-store pickup. This ensures that they find the best price without abandoning their purchase after looking at the delivery fee.
Note that the trend is driven by a benefit: in this case, free shipping.
Technology has turned every customer touchpoint into a potential sales channel. However, you need to ensure that they have the best possible experience.
If you are thinking of entering the omnichannel game, one of the first steps is to invest in e-commerce. The internet provides precious information that can help integrating channels.
With the channels defined, it is necessary to customize them according to the information obtained in constructing your customer persona.
This integration means aligning the online and offline environment so that there are no gaps for the user and between areas of your company (sales, marketing, support, etc). Only then will it be possible to offer an authentic omnichannel experience.
After that, it’s time to test everything. In addition to checking the operation, it is also necessary to assess channels’ quality and integration.
Omnichannel is a challenging strategy to implement properly, but if it is well designed, it can provide incredible results for your business. If you have any questions, let us know in the comments below.Back