The emergence of tech-savvy consumers have changed the face of Retail Industry and forced retailers to pause and reassess their marketing strategies. With emergence of digital technologies, one thing is clear – Retailers will have to reduce complete reliance on the old models for customer experience and come up with new, innovative strategies that are backed-up by the latest technology.
It’s interesting to note that, 74% of your customers use three or more channels for customer-service related issues. Recent research on shopping behaviors has revealed that a single channel is no more sufficient for increasing visibility, engagement and conversions in the retail sector.
Omni-Channel Retailing is what the industry truly needs at this point of time. Read along to know more about adopting the right Omni-channel strategy for better customer experiences!
Omni-Channel Retailing – What you need to know?
If you thought the digitally aware e-tailers have it easy, you could be wrong… Customer preferences are fast-changing and retailers and e-tailers are both equally disconcerted.
Contrary to popular belief, Omni-channel retail is not restricted to online retail portals, but a combination of mobile, e-tail and brick-and-mortar. Omni-channel is about having both – a physical and digital presence.
This overlapping of digital and physical presence is indispensable for an end-to-end seamless, customer experience.
How to Maximize Omni-Channel Retail Opportunities?
Wouldn’t you love to have your customers become your brand advocates? With the right Omni-channel strategy, you can boost your sales per customer visit, increase customer satisfaction, which leads to improved customer retention and brand loyalty.
Here’s how to make customers fall in love with your retail store using an Omni-Channel Strategy:
Drive Sales Performance with Marketing
Make use of marketing to be precisely where your customers are! You can improve the effectiveness of your marketing strategy by leveraging Omni-channel presence to:
- Increase brand awareness by being on top-of-the-mind of your customers
- Follow customer purchasing behavior using real-time data from sales channels
- Measure return-on-investment of campaigns
- Leverage specific events and occasions to boost sales and promotions
- Implement customer segmentation strategies for targeted marketing
- Drive free organic traffic by active management of multiple channels
Re-Engineering Supply Chain
An Omni-channel approach entails greater speed, better service and scalability. Investing on supply chain and technology infrastructure is hence, essential for the success of your Omni-Channel retail approach. Integrating supply chain analytics with Omni-channel retailing would ensure:
- Effective management of orders with assistance in
- Order routing
- Returns Management
- Order Splitting
- Tax Calculations
- Payment Processing
- Partial Shipments
- Order Exception Management
- Store fulfillment with functions for
- Single view of inventory with real-time, accurate information about stock levels and specific information about orders
- Increased efficiency in meeting the challenges of orders coming from brick-and-mortars, online channels, smartphones or other channels
- Customer-driven delivery options that enhance customer experiences
Omni-Channel Strategy for Unified Customer Experience
Omni-Channel retail offers channel-agnostic solutions for customers to order, pick-up or return products of their choice. In the age of Customer Centricity, a ‘one-size fits all’ approach is sadly not enough to keep customers engaged with your business. Here’s what you need to offer:
- Personalized interactions for deeper impact
- Hassle-free experience on the channel of customer’s choice
- Non-intrusive, yet easily accessible point of contact for quick resolutions
- Complete flexibility that yields maximum value for customer
- Recognize individual customers along with details of their prior interactions across all channels
Fulfilling the high expectations of customers can be onerous indeed! This is why businesses choose to partner with specialized CLM service providers to give customers more reasons to stay with their brand. The right partners can help you reduce costs, build competitive advantage, reduce customer churn and increase customer advocacy.