Why the buzz around Omnichannel Marketing?

Let’s begin by understanding what the term Omnichannel marketing means. The etymology of the word Omni is Latin and means “all”. Omnichannel is the bringing together, syncing and aligning of sales, marketing, product and customer support channels.

The thinking behind the development of this brilliant concept was to give customers a seamless, synchronized, fluid and hassle-free experience regardless of the channel through which they choose to engage a business. In a nutshell, it is all channels into one. Read more

How is Omnichannel different from Multichannel?

Multi and Omni channels are similar but at the same time fundamentally different. What sets them apart is whereas an Omnichannel concept has all channels working together in sync, multichannel has its channels working independently of each other. Omnichannel has the advantage of providing a seamless, unified brand experience across all customer touch points as opposed to the multichannel retail approach where a customer would need to approach each touch point almost as though they were completely different entities.

So how does it work?

So now that we know that Omnichannel isn't just another buzz word let us get right into it and look at what makes its wheels turn and where it can take a business along with its customers. By aligning all their customer touch points, businesses utilizing the omnichannel approach can deliver a superior experience that is always consistent. Be it brick and mortar, in-app or online; customers enjoy uniformity in service, aesthetics, branding, and content. For example, an app helps you strategically navigate the facility, check on meal and excursion times, and make dinner reservations. A smart wristband gets you into your hotel room, allows you to make purchases from the shop. Every interaction is completely integrated By utilizing the omnichannel model, a business offers its customers the experience they desire and expect while benefiting from the wealth of information and data collected by simplifying and unifying customer experiences within all its touch points.

Understanding your market

Before embarking on a marketing blitz, one must first figure out just who or what their target market is. There are two primary markets a seller caters to namely B2C (for business-to-consumer) and B2B (business-to-business) Business systems and environments that support B2B or B2C retail differ in virtually every aspect. Be it communications, marketing, scale, administration scale or cost. It is vital that you implement the right system for your customers. Focusing on what product or service to sell and to whom, while accepting the fact that you never be all things to all people allows a business to concentrate its efforts on sales and marketing better. Once you have established your target audience or niche market, your business can build its omnichannel network based on these demographics and variables.

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Building your omnichannel network

Using omnichannel integration is highly beneficial to businesses in the modern digital era. To stay ahead of the competition, companies and corporations must continuously adapt and innovate or risk turning themselves into dinosaurs.

Building the infrastructure to support an omnichannel network requires investment in resources and expertise, but the benefits accrued from investing in this business model are worth it in the long run.

Finding and selecting a great omnichannel solutions provider to partner with is very important. Reputable, tried and tested platforms such as Shopify help businesses build, maintain and successfully run their networks in perfect synchronization and harmony.

Omnichannel to increase profitability

Consumer experiences and expectations have evolved, and businesses today have to keep up. Some of the successful corporations on the planet have fully adopted and integrated omnichannel into their functions and are reaping huge benefits.

Disney, Amazon, Netflix, Timberland and Argos, among others, are perfect examples of how the omnichannel method can be integrated into a business, aligning all touch points and ultimately increasing profitability.

Think of the omnichannel experience as all the different channels interconnecting to form one strong network much like a spider web, with the user right at the centre or core of it all. The business itself as the spider spinning the web is ultimately the biggest beneficiary.

Omnichannel and social media

A good business looks for its customers and actively engages them wherever they may be, and in this day and age, that place is often social media. The tremendous outreach and networking power of the likes of Twitter, Facebook and Instagram cannot be ignored by any right thinking business.

Social media sites are the modern go-to place for consumers who want to learn about, rate and review businesses. A functional omnichannel network will need to adopt and integrate social media sites as a critical touch point for their customers.

Social media sites allow business owners and clients alike to manage their presence and interactions on the go effectively. Customers can plug in and connect with their favourite brands providing these businesses with useful insights and opportunities to better service and product delivery.

Benefits to business by way of analytics

If we are, to be honest, the biggest beneficiary of omnichannel is the business itself. Yes, it’s great when customers get to enjoy the fluidity and continuity of a unified experience, but the personalized data a company mines from these experiences is invaluable from a marketing standpoint.

Studying and predicting client behaviour has always posed a challenge to marketers. By giving customers a much richer integrated experience, a business can gain incredible insights into individual consumer habits.

A business that can bridge digital and physical channels and connect its consumer’s digital and physical footprints can use this information to tailor marketing campaigns to align with individual customer preferences.

With this virtual treasure trove of product and consumer data, marketing can now be laser focused for better effect. A business can achieve merchandising optimization by applying knowledge gained into stocking products according to demand in specific locations.

Final Thoughts

Establishing, building, running and growing a business requires investment in the right tools. From the look of things, omnichannel is the future not just of marketing but of commerce in general.