Omnichannel marketing is about creating a consistent and seamless brand experience across all channels and touchpoints. By understanding and optimising each touchpoint in the consumer journey, businesses can provide personalised and targeted marketing campaigns that build stronger customer relationships and drive revenue growth. This requires a deep understanding of consumer behaviour and preferences across all channels and investment in technology and infrastructure to support a seamless omnichannel experience.
Optimising brand experience through omnichannel marketing
For clients, product benefits are not the only factor in making the purchase decision, preferring a brand merely for its product benefit. Nowadays, marketers talk about the brand experience. This experience includes clients moving in all the touchpoints, such as getting information both online and offline, the purchasing act, using the product, after-sales service, talking about the product on social media, etc.
The companies need to know more about which touchpoints the customers interact with, how they are affected, and their thoughts and feelings for each touchpoint if they are satisfied with their total brand experience journey.
Through omnichannel marketing, you can improve the brand experience of your potential and current consumers. This would be an essential competitive advantage that would enhance your sales and market share.
The essence of omnichannel marketing
Omnichannel marketing encompasses the seamless integration of diverse channels and touchpoints to operate in perfect harmony. By effectively synthesising channels, delivering consistent messaging, and facilitating smooth channel-switching, omnichannel marketing optimises the customer experience for maximum efficiency and satisfaction.
With the rise of digital channels, consumers now have more ways to interact with brands than ever before. For instance, a customer may discover a product on social media, research it on a website, purchase it in-store, and then provide feedback on social media. An effective omnichannel marketing strategy ensures the consumer can navigate these touchpoints effortlessly and receive a consistent brand experience at each journey stage.
To achieve this, businesses must collect consumer behaviour and preferences data across all channels, including email, webpage, social media, mobile apps, and in-store interactions. This data can then personalise the brand experience and create targeted marketing campaigns that resonate with individual consumers.
For instance, customers who frequently shop in-store might receive personalised recommendations based on their purchase history and preferences when they visit the store. Alternatively, a customer who primarily interacts with the brand on social media might receive targeted ads or promotions that align with their interests.
For example, customers should be able to start a purchase online and complete it in-store or vice versa without any interruption. This requires businesses to invest in technology and infrastructure supporting a unified omnichannel experience.
The Stats Prove It: More Channels, More Returns…
Maximising customer reach, building brand loyalty, improving customer engagement, increasing sales volume, and enabling better data collection are just a few reasons why omnichannel marketing outshines single-channel marketing. Let’s dive into the statistics that highlight the superiority of omnichannel strategies:
1. Widening Customer Reach:
- Brands using at least three channels in their retail strategies see a 287% higher purchase rate than single-channel brands.
- Nearly 90% of consumers now expect brands to offer omnichannel experiences across their preferred online and in-store channels and touchpoints.
2. Strengthening Brand Loyalty:
- 80% of customers are more likely to purchase a product or service from a brand that provides personalised experiences.
- According to a study, omnichannel consumers have a 30% higher lifetime value, indicating stronger brand loyalty.
3. Enhancing Customer Engagement:
- A survey by Salesforce revealed that 87% of consumers said that consistency of experience across all channels is essential.
- In a study by Aspect Software, 52% of consumers said they would switch to a competitor after a bad brand experience.
4. Boosting Sales Revenue:
- Companies that offer robust omnichannel experiences can see a 20% boost in total revenue.
- According to a Harvard Business Review study, improved data collection and analysis can lead to a 9.5% increase in year-over-year revenue. Additionally, companies with robust omnichannel strategies can experience a 10% increase in average order value.
5. Enabling Better Data Collection:
- A survey by McKinsey & Company found that 73% of consumers use multiple channels during their shopping journey, and 86% expect a seamless shopping experience across all channels.
- 98% of citizens in the Western world switch between 2-3 devices every day, highlighting the importance of collecting data from various sources.
With these statistics, it becomes evident that embracing omnichannel marketing allows businesses to create a cohesive brand experience, reach a wider audience, foster brand loyalty, increase sales revenue, and gain valuable insights into consumer behaviour. By revolutionising customer experiences through omnichannel strategies, businesses can drive revenue growth and establish a competitive edge in the market.
Implementing omnichannel marketing can be difficult! Here are some potential challenges:
- Data Integration: Integrating data across multiple channels can be complex and time-consuming. Different channels may store data in other formats or use different systems, making it difficult to track consumer behaviour and preferences.
- Technology Infrastructure: Implementing an omnichannel strategy may require new technology infrastructure, such as marketing automation software or customer relationship management systems. This can be expensive and time-consuming to implement.
The Answer: Receipt Processing
Technological agencies can help you overcome the issue mentioned above in a cost efficient manner. They have the technological know-how, and their infrastructure is already prepared; so it’s much less time and cost consuming to receive their assistance than to create a new division within the company.
Receipt processing technology can help your brand build a seamless omnichannel activation user journey. Consumers can buy the campaign product in-store, then participate by taking a photo of the purchase receipt, then upload the receipt photo into the receipt processor within the campaign platform to redeem their reward. Thus, creating a simple, user-friendly experience consisting of multiple channels.
Receipt processing technology can also help you capture behavioural data depicting your consumers’ in-store purchase behaviour. This valuable data can help you segment your consumers and take specialised marketing actions based on their habits.
A Must Have For FMCG Brands.
Omnichannel marketing practice is becoming increasingly prevalent in FMCG (Fast-Moving Consumer Goods) companies as they seek to provide a solid and consistent brand experience across all online and offline channels.
In recent years, there has been a significant shift in consumer behaviour, with customers increasingly using multiple channels to research, compare and purchase products. Therefore, FMCG companies recognize the importance of integrating their marketing efforts across all channels to create a cohesive brand experience.
Many FMCG companies are investing in digital technology and tools to connect with consumers across multiple touchpoints, such as social media, email marketing, mobile apps, and online marketplaces. They also leverage data and analytics to gain insights into consumer behaviour, preferences, and purchase patterns, which they can use to personalise their marketing messages and promotions.