Omnichannel Retail Marketing (© Rawpixel.com / Fotolia.com)
Omnichannel retail marketing is the modern day approach to business that concentrates on creating a consistent and solid experience for customers at every possible touch point. Unlike traditional marketing methods, omnichannel marketing considers the entire user experience. In this article, we provide an overview of omnichannel retail marketing, including how it works and the benefits that it can provide for businesses.
Omnichannel retail marketing is a marketing approach that focuses on consumers. It involves marketing on multiple channels with the goal of providing customers with an easier and more seamless shopping experience, whether shopping is done online, by phone, or within a physical store. It differs from multichannel marketing in that there is a true integration between marketing channels. For instance, when a business that has implemented an omnichannel approach, a shopper can search the inventory that a store offers via a computer, purchase an item from a smartphone, and later pick up the item from the store.
Benefits of Omnichannel Marketing
There are several key benefits that omnichannel marketing can offer for businesses that are in the retail segment. Some of the most notable benefits that this type of marketing strategy can offer include:
- Improved efficiency. When a retailer develops an ominchannel marketing strategy, it can provide a more consistent experience for their consumers. The business is better equipped to cater to the needs of their customers. Customers have the ability to experience the brand in a more consistent way. It allows physical stores to actually become extensions of their supply chain.
- Better margins. If an online sales structure is designed well, discounting schemes can be minimized. In traditional retail marketing, steep discounts are issued on only the products that aren’t selling well at a particular store. With omnichannel marketing, however, stores that are nationally based can sell products to all of their customers in all locations at the same price.
- Better data collection. Omnichannel retail marketing allows businesses to keep track of their customers over several channels while better understanding their preferences. Therefore, a company can serve their customers better. Additionally, retailers can get ideas on how to create offers that will better persuade their shoppers to engage themselves when they go out an shop at a physical store, which helps to improve the chances of customers purchasing more items when they do shop.
Creating an Omnichannel Marketing Strategy
The following is a basic guideline for creating an omnichannel retail marketing strategy:
- Collect research. Assess data to determine where consumers are engaging with your brand and where they might need some nurturing.
- Set up the online marketing basics. This includes search engine optimization (SEO), email marketing, search engine marketing (SEM) and social media marketing. Your website should also be optimized for use on mobile devices.
- Understand the operations of your business. Make sure you fully understand your business operations.
- Map out the customer journey. Create a map of how your customers usually interact with and travel through all of your channels.