The Power of Omni-Channel Marketing in 2020 for Retail

The Power of Omni-Channel Marketing in 2020 for Retail

As customer experience (CX) evolve into one of the most essential aspect of every business, companies are slowly turning to omni-channel marketing as a crucial part of CX. The concept has gained prominence since 2019 as more businesses put efforts to remain at the top of the competition in meeting the ever-changing demands of the modern customer. Gone are the days when a customer was left with only one choice to make between in-store purchases and online shopping. Today, businesses can combine all the interaction points of a customer into a single integrated customer experience, thanks to the omni-channel marketing strategy. This article highlights the impact of the omni-channel marketing concept on the retail industry.

Understanding Omni-Channel Marketing

The world of digital marketing is never short of buzzwords, and the omni-channel concept is a trending one in the turn of a new century. Omni-channel marketing refers to the creation of the presence of a brand across multiple offline and online channels in efforts to render an integrated customer experience. Some of the offline channels integrated include a physical store, call centre, events, and any brick and mortar setup. Online channels, on the other hand, include social media platforms, websites, emails, and mobile applications.

The Importance of Omni-Channel Marketing for Retail Businesses

Adopting an omni-channel marketing strategy comes with plenty of benefits to a retail business.

• Frequent Purchases from a Customer

Customers who use multiple channels integrated into a single experience while making purchases are likely to buy products more frequently. According to a recent study, over 45% of customers who interact with a retailer across over ten channels make at least one purchase in every week. Continuous purchases by loyal clients translates to more sales and profits to a retail.

• Creation of a Positive Customer Experience

Customers are interested in a service that creates a positive experience across every phase of their purchasing lifecycle. For example, a customer is willing to make consistent purchases from their favourite retailer if there is a solution to the challenges that come with having only one channel of customer experience. For example, making purchases from a brick and mortar store is linked to long queues during specified hours. In such a case, having a digital platform where a buyer can pre-order items online goes a long way in enhancing a positive customer experience. This is where the omni-channel strategy comes in handy. Omni-channel marketing strategy brings together the e-commerce, traditional stores, and multiple channels into one integrated experience.

The Influence of the Omni-Channel Concept on Various Industries

Key players in the various industries have implemented the omni-channel marketing concept in their retailing strategies. This has seen most of these companies create a positive customer experience as well as raise their revenues in significant proportions. Here is a highlight of some of the influences of the omni-channel strategy on the various industries.

1. Travel and Transportation

The journey of customers in the transport industry is always disrupted by such factors as delays, price hikes, and other forms of inconveniences. Fortunately, with the adoption of the omni-channel strategy, travel companies can change customer experience as well as boost heir revenues. The use of omni-channel concept in the transport industry enables service providers to send the best deals to their customers on hotels and restaurants prior to client’s flight. Customers can book a flight and find a suitable restaurant at the same time. The travel industry can also adopt the omni-channel strategy to enhance online bookings and sending notifications to customers on their upcoming flight or booking.

2. Telecommunication Industry

Companies in the telecom industry can use the omni-channel marketing strategy to enable customers to make bill payments and recharge other accounts. An omni-channel self-serve app, for example, enhances customer experience by driving their engagement online.

3. Banking Sector

It is quite inconveniencing for customers to walk into a bank every time they want to make enquiries about their debit balance or pending bills. Using omni-channel marketing enables banks to notify their clients on such issues as debit balance, latest credit, or even available deals and offers. This strategy may also come in handy in creating a seamless experience for customers when opening a new bank account or placing a new request. Banks that have enabled customers to open new bank accounts via different devices and channels have experienced growth in their revenues.

4. Healthcare Industry

Although the healthcare sector has been highly regulated for years, the adoption of omni-channel marketing strategy has seen some players create a positive experience for their patients. Some of the possibilities that come with having an omni-channel strategy in the healthcare industry include reminding patients of their appointments and sending them tips on how to improve their health. The strategy can also be used to enable patients to get access to their health reports via various devices.

Omni-Channel Marketing Drivers in 2020 for Retail

Although the omni-channel concept has been in existence in the retail space for years, the adoption of the strategy by retailers will be taking the industry miles forward in the new decade. Here are some of the elements of omni-channel marketing strategy that will act as drivers for most retailers in 2020.

• Semi-Automated Solutions

According to recent studies, the omnichannel retail platform of doing business is expect to grow spontaneously in the next three to five years. As a result, customer experience has become more complex, with a significant percentage of businesses adopting more channels for CX. With these changes, the need to acquire semi-automated solutions as a way of balancing between online and offline platforms will rise. The increased demand for semi-automated solutions will create a leeway for omni-channel marketing across the retail industry.

• Brand Intimacy

Brands are increasingly investing in understanding their customers as a way of building long-term customer relationships. Studies reveal that customers are after having an emotional connection with their favourite brands. As a result, companies are likely to humanize the interact points across their channels with an aim to build an emotional connection with their customers. In brands’ efforts to enhance brand intimacy, the need for omni-channel marketing concept will grow.

• The Evolution of Brick and Mortar Stores

There have been predictions that the brick and mortar store will fade off following the establishment of eCommerce platforms. However, the traditional store is likely to evolve into a top of the funnel channel. Marketers are keen to observe that the customer’s need to visit a physical store is growing spontaneously even with the rise in eCommerce. This is out of the interest to sample a gadget, try out a designer’s wear, or just enjoying the fun of shopping in a physical store. Brands are, therefore, only left with an option of leveraging both eCommerce and traditional channels, resulting in the growth of the omni-channel marketing strategy.