As an eCommerce vendor, you are sure to have a presence across various marketing channels like websites, smart phones, tablets, social networking etc. Is this enough to attract and retain customers? What Omni channel strategy is most likely to succeed? Here is an approach.
Omni channel marketing is where the marketing channels that you have at disposal are collaboratively set in motion, albeit in the right mix, to understand buying behaviour and personalize it, so that customer allegiance is guaranteed. Individually, there may be channels that may not always give you the desired outputs. But, orchestrated together, one channel compensates for the deficiencies of the other.
For today’s customer, it is all about convenience, authentic product information and quick delivery options. The critical factor for a retailer lies in a customer database that collates data from various channels to make an appealing offer to the customer.
Wal-Mart is one major name that mines social, mobile and local purchase data to predict purchases and stock based on the shopper activity. It prioritizes numerous initiatives across different channels, understands customer experience around different channels, creates the right communication mix and sets the ball rolling. Sounds simple, but isn’t really so. It is all possible thanks to data crunching.
Customer experiences and transitions in an Omni channel scenario are all relevant data for a retailer who wishes to leverage it for profits. Consumers go to a store, shop for a product, buy it on their mobile and then pick it from a nearby store. Such behaviour, if traced, defines what is the most used channel for a search, where do the buyers visit more, how many times have they used their mobile for a transaction, what sort of purchases do they make, is there a chance to up sell and cross sell etc. Making use of such data and more keep a retailer ahead of its competitors.
Collective data sourced from the behaviour of consumers across various channels can enhance predictive capabilities for retailers. Identifying where the consumer is going to start a search, the retailer can construct a relevant and hence attractive proposition for that channel. For customers who wish for a physical experience, the retailer can enhance the in-store experience. The retailer needs to recognize the most common patterns in customer behaviour and structure his strategy accordingly. With data at his disposal, the retailer can set his priorities and channelize consumer footfall to his store, online or physical and increase revenues.
For eCommerce firms, Omni channel strategy advocates a synergy of varied marketing platforms for positive outcomes. For consumers, it is all about convenience.