The Power of Many: How to Create a Successful Omnichannel Strategy

Introduction

As we continue to adjust to a post-pandemic world, businesses are finding ways to meet customers where they are and create a seamless experience for them. Equipped with advanced data analytics and artificial intelligence (AI), businesses are linking their brick-and-mortar and online strategies to increase profits and meet changing customer demands.

Implementing an omnichannel strategy is key to this. This involves using shopping and promotional campaigns, backed by data and analytics, across a variety of platforms.

The rewards can be rich. According to KPMG’s 2023 study “Seizing the Seamless Opportunity”, in retail, omnichannel consumers are the most valuable customer segment. Customers who shop both in-store and online tend to spend more overall.

How can retailers make the most of this opportunity? While customers expect a frictionless shopping experience across touchpoints, implementing such an experience can be challenging. In this article, Silverse will take you through the steps of creating an effective omnichannel marketing strategy.

What is Omnichannel Marketing?

An omnichannel strategy involves utilizing multiple marketing channels to create a seamless customer experience. Some examples of the channels that might be used include: email, text messaging, push notifications, social media, and in-app messaging.

A disconnect between a company’s online and in-store experience can disrupt the customer journey. In an omnichannel strategy, all marketing channels will be synchronized. Digital touchpoints that consumers use each day are integrated. This contrasts with siloed marketing strategies, in which there are separate strategies for social media, in-store, and online experiences.

To give you an idea of omnichannel marketing’s effectiveness, consider that, according to a study of 46,000+ shoppers by the Harvard Business Review (HBR), customers who engaged with over 4 channels spent 9% more on in-store purchases than those who engaged with only one channel.

The omnichannel marketing strategy’s key characteristics include unified brand messaging, personalized messaging, customer-centricity, data-driven insights, integration of data, and adaptability.

Once the strategy has been implemented, it is important to measure success. Some KPIs to consider include but are not limited to: cross-channel conversion rate, churn rate, average order value, cross-channel pageviews, and social media engagement.

How to Create an Omnichannel Strategy

Collect Customer Data

To create a holistic view of the customer journey, marketers should collect data across all customer points of interaction. This facilitates enhanced customer experience and personalized campaigns.

Having said that, it is important to not rely on outdated customer surveys, especially those conducted before the Covid-19 pandemic. Customer concerns and expectations have shifted dramatically since then.

However, exercise caution in requesting customers to fill out long forms at every point. It is instead advisable to collect data at stages in the buyer journey that bring value to customers. For example, an eCommerce company may request customers’ phone numbers or email addresses during checkout so they can track their orders.

To collect data, companies can implement data management platforms and customer relationship management (CRM) systems. These can collect and analyze data from multiple sources, including online purchases, in-store visits, and interactions on social media.

Determine Your Channels

Based on your gathered insights, choose the platforms and channels you will use for your marketing.

An efficient omnichannel approach connects traditional and digital channels, including but not limited to social media, emails, in-store ads, TV broadcasts, print materials, and paid search. An example would be a rewards program that customers can use in-store or via the website or mobile app.

Amidst all this, it is important to prioritize channels and devices. Not all channels will provide the same degree of benefits. Brands should invest in avenues that enhance the user experience and increase engagement.

For instance, if you notice that your highest-paying customers prefer emails, then sending them a barrage of text messages will only waste resources.

Map Your Customer Journey

In this stage, brands can identify main customer touchpoints and develop ways to enhance them.

Map your customer’s journey, underlining the channels that customers will encounter. By putting yourself in your customer’s shoes, you can gain clarity on your strategy and communicate with the right audience at the right time. It will also help you identify possible challenges and pain points that could deter customers.

Lastly, as you develop your map, search for ways to link the online and offline experiences. For instance, you could offer in-store pickup for online orders.

Personalization is the Rule

Customers offer sensitive information. Businesses should provide a high degree of personalization in return, with an understanding of their customers’ challenges, priorities, needs, and motivations.

To achieve this, brands can use AI, natural language processing (NLP) and automation, as well as track clickstream data (add-to-carts, clicks, and so on) in real-time. Netflix is a good example of a company that benefits from a high degree of personalization. In addition to customized recommendations, they also have other offerings such as notifications based on the customer’s time zone.

Conclusion

Creating an effective omnichannel marketing strategy requires careful planning, integration, and continuous optimization.

Retailers with multiple channels, including both brick-and-mortar and online stores, will offer an experience that players who use only a single channel cannot match. These companies will be poised to become the future leaders of retail.

As you implement and refine your strategy, remember to stay flexible and responsive to changes in the market and customer behavior.

Silverskills is a digital transformation company that offers comprehensive digital transformation solutions, including experience design services that will set you apart from your competitors. Contact us now to speak with one of our experts.