Omnichannel Retail Marketing

Rethink Omnichannel Marketing

The consumer of today is truly omnichannel driven. With multiple devices at an arm’s reach, they’re interacting with brands and continuously navigating through different platforms parallelly. As consumer behavior evolves by the day, brands and marketers need to quickly adapt to cater to their needs and pursue one holistic omnichannel approach, so that when the customer shops online from a desktop, a mobile device, by telephone or in a brick and mortar store, the experience would be seamless.

The idea is that in omnichannel, every customer interaction changes their overall experience of your product and brand.


A recent study by Harvard Business Review surveying over 40,000 shoppers found that

  • 7% shopped online exclusively
  • 20% were store-only shoppers
  • 73% used multiple channels


BRANDS EMBRACING THE OMNICHANNEL APPROACH

Lenskart is an excellent example of an omnichannel brand. Known for providing an excellent buying experience. The brand uses a cohesive strategy to create a fully integrated experience for the user.  If you like to compare different looks before you buy your frame, their 3D try on lets you try from 1000+ frames & styles before you buy.


If you’re a bit apprehensive to buy frames online, no problem. Their eyewear specialist will visit your home for a free trial.


Pepperfry, an eCommerce shopping website that initially started selling furniture online realized that the category does not naturally lend itself to online buying. And the start-up decided to take the omnichannel route to boost sales. This Mumbai based company has launched its studios in Tier 1& Tier 2 cities.  The company has targeted a GMV of 1 Billion by 2021.

Companies with omnichannel retail strategies retain an average of 89% of their customers from channel to channel as opposed to the 33% retained by brands with a weak omnichannel strategy

Omnichannel retail is pitched as the future of eCommerce. Just like other brands, Titan has recently adopted the hybrid approach. The main aim is to work with online platforms like Facebook, Amazon as well as their own website and drive sales through an omnichannel model. 

FRAMEWORK TO STRATEGIZE FOR YOUR OMNICHANNEL RETAIL BRAND:

  • Identify your customer and their needs
  • Find the right tool and methods that will help you connect with your customers 
  • Segment your audience 
  • Create unique personas 
  • Personalize the customer experience 
  • Communicate the same personalization across channels
  • Get an expert to roadmap your omnichannel strategy  

In times like these, one of the major challenges faced by brands today is making that shift from single to channel to omnichannel. The goal is to create an experience that isn’t limited to a single platform but one that can be completed and repeated on each.

Opportunities in Omnichannel Retail Marketing

Opportunities in Omnichannel Retail Marketing

As our lives get deeper into digital integration, customers, especially in the retail segment, are merging their online and ‘in-store’ experiences. Shoppers make themselves well-informed about their prospective store/brand through extensive online research before they visit the physical store. And if customers are to have an all-encompassing experience, their service providers (read retailers) need to offer the same and utilize this opportunity to make their presence felt.

Breaking the barriers between digital and in-store

A smart omnichannel strategy helps retailers to connect their in-store commerce with all of their digital touch points and create a seamless user journey for their customers. This allows customers and shoppers to connect their online research with the actual in-store experience.

This is where tech tools like store-visit analytics programs and others help create a new kind of interface between offline and online commerce. By adopting such innovative ideas, retailers can turn their physical stores as a field for innovation and experiments with newer sales techniques and means to improve the customer’s experience at every turn.

More channels for sales

Omnichannel marketing is all about exploring your customer’s footprints and enhancing all possible avenues where your customer is. This lets you be flexible and agile as per your customer needs and integrate methods like ship-to-store, ship-from-store, buy-online-pickup-in-store, endless aisles, social commerce etc. The idea is to reinvent the tried-and-tested wheel and introduce new experiences every time.

Hassle-free payment

Easy and simple payment processes enable faster purchases. With mobile payments, digital wallets, and payment options offered by brands themselves, customers enjoy better shopping experiences. Digital systems like Amazon’s ‘One-click Pay’ and similar others, further simplifies the omnichannel journey for the customer and drives sales for the retailer.

Summarizing

Gone are the days when a brick-and-mortar store and its respective e-commerce site would be a world apart. The future of retail is all about bringing all interfaces and building a holistic experience. While this redefines shopper’s journey, it also enhances your business approach and improves your marketing strategy.

To be able to successfully adopt the best-in-class omnichannel retail trends, you can seek the support of an omnichannel expert and take your business to the next level and boost your brand.

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Phone : +91-9884491228.

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