How important is omnichannel customer engagement strategy?
The omnichannel shopping experience is the latest buzzword in retail, and rightly so because it streamlines both online and in-store customer experience. Basically, omni-channel is simply a multi-channel sales approach that provides the customers with a unified shopping experience.
For instance, a company can implement strategies to achieve a convergent sales and customer experience through its social media, email marketing, mobile marketing, and well-designed website, among other channels.
Retailers who have omnichannel customer engagement strategies in place enjoy an impressive 89% customer retention rate compared to only 33% for companies with weak Omnichannel strategies. Many retailers who haven’t implemented omnichannel strategies yet are looking to implement one.
Despitethe fact that only 45% of retailers see omni-channel as their top priority, many retailers feel that they are lagging behind this important retail customer engagement strategy. In a recent study by SPS Commerce over 37% feel like they haven’t nailed their long-term omnichannel strategy yet. So if you haven’t implemented omnichannel, you are not alone.
According to Hubspot, shoppers who shop both online and in-store have a 30% higher lifetime value than those who use only one channel. 71% of US shoppers say they have bought an item online and picked it from the brick-and-mortar store.
How Smartphones Influence Omnichannel Experience
According to Mintel, 53% of shoppers say convenience is the first factor they consider before purchasing.
For that reason, smartphones are becoming big influencers of omniachannel shopping experience. Nearly 71% of shoppers cite their smartphone as their most important tool when it comes to researching a product or a retailer. Moreover, 28% of US retail sales are influenced by smartphones.
What Happens When You Are Not Omnichannel?
Did you know that the opportunity cost of not being omnichanel is a 10% dip in revenue? Apart from lost revenue, your customer experience could also suffer if you have weak omnichannel. 89% of customers hate it when they have to repeat their issues to multiple customer representatives.
Moreover, 64% of customers expect to receive seamless customer service regardless of which channel they are using.
And considering the fact that 98% of customers switch between devices on the same day, it pays for companies to have extremely strong omnichannel customer engagement.
Top Omnichannel Retail Capabilities
According to digital shoppers, a strong omnichannel:
- Offers the customers the ability to check availability of products prior to making visiting a store.
- Offers the customers the ability to make product reservation online and pick it later from the store.
- Enables companies to store customer information across various channels.
- Enables companies to offer consistent personalized customers services across multiple channels.
- Makes it possible for companies to use social media to serve customers.
10 Steps to Implement an Omnichannel Strategy in Your Business
Implementing an omnichannel strategy may seem daunting, but with the right approach, it can significantly enhance your customer engagement and boost sales.
Here’s how you can build an effective omnichannel strategy:
1. Understand Your Customers’ Journey
- Map out your customers’ touchpoints, from initial research to purchase and post-sale interactions.
- Identify key channels your customers use most frequently, such as social media, email, or in-store visits.
- Use customer personas to gain deeper insights into their preferences, pain points, and buying behaviors.
2. Integrate Customer Data Across Channels
- Use a robust Customer Relationship Management (CRM) system to unify data from all customer touchpoints.
- Implement tools that track interactions across platforms, ensuring you have a comprehensive view of each customer’s journey.
- Leverage analytics to understand patterns and tailor your approach.
3. Ensure Consistent Branding and Messaging
- Develop a cohesive brand voice and ensure all channels reflect this voice.
- Use consistent visuals, tone, and messaging across online and offline platforms.
- Train your team to communicate uniformly, whether they are engaging with customers via email, chat, or in person.
4. Invest in the Right Technology
- Adopt tools that enable seamless channel integration, such as:
- Point-of-sale (POS) systems that connect online and in-store sales.
- Marketing automation platforms for email, SMS, and social campaigns.
- Mobile-friendly websites and apps to engage on-the-go users.
- Ensure your technology stack supports real-time updates across all channels.
5. Provide Seamless Channel Switching
- Enable customers to start their journey on one channel and finish it on another without losing context.
- Example: Allow customers to browse online, reserve products, and pick them up in-store.
- Offer flexible customer service through multiple channels, such as phone, chat, and social media.
6. Use Personalization
- Use customer data to deliver personalized recommendations, discounts, and content.
- Implement dynamic content on your website and emails based on customer preferences.
- Offer loyalty programs that reward customers across all channels.
7. Train Your Team
- Educate employees on the importance of omnichannel engagement.
- Train customer-facing staff to navigate and support customers on all channels.
- Ensure teams have access to the right tools and data to provide seamless service.
8. Test and Optimize
- Launch pilot programs to test your omnichannel strategies in small markets or segments.
- Gather customer feedback and monitor key performance metrics like customer satisfaction, retention rates, and conversion rates.
- Continuously analyze data to identify what’s working and what needs improvement.
9. Focus on Mobile
- Optimize your website and emails for mobile users, as smartphones play a critical role in omnichannel shopping.
- Use features like mobile payments, in-app messaging, and location-based promotions to engage mobile users effectively.
10. Monitor and Adapt
- Keep track of industry trends and advancements in technology.
- Regularly review your omnichannel strategy to ensure it evolves with customer expectations and market changes.
- Stay agile and be ready to adopt new channels or technologies that enhance the customer experience.
Wrapping Up: The Power of Omnichannel Customer Engagement
In an age where customer expectations are constantly evolving, the omnichannel approach is no longer optional – it’s essential.
The ability to provide seamless, interconnected experiences across all platforms not only enhances customer satisfaction but also significantly boosts retention and revenue.
By integrating online and offline channels, using the power of smartphones, and ensuring a unified customer experience, businesses can position themselves as leaders in a competitive retail landscape. As the data shows, neglecting omnichannel strategies can lead to lost opportunities, while embracing them can create unparalleled loyalty and value.