An omnichannel strategy means providing your customers with a fully integrated shopping experience from the physical store to the virtual store, including mobile applications and the full range of possibilities offered by the offline and online world.
In this article we already explain in more detail what an omnichannel strategy is, as well as the basic requirements to be able to implement it in your company.
Now, we will set out all the benefits it will provide you with.
The rules of the game have changed
The consumer industry can no longer ignore some of the new trends that are shaking the entire industry: the digital revolution, mistrust and millennial buying habits, the emergence of e-commerce giants, etc.
For over 50 years, we’ve been able to obtain excellent results using the same strategies, but now it is time to update, and an omnichannel approach to sales and trade marketing will be essential.
A recent study by Harvard Business Review of more than 46,000 shoppers has shown that:
- 20% were store-only shoppers.
- 7% were online-only shoppers.
- 73% used multiple channels.
Similarly, Forbes carried out two revealing studies. One has shown that 81% of shoppers check the internet before going to the store to buy and another concludes that 82% check their phones on purchases they are about to make in-store.
Are you sure you want to continue with your usual sales strategy?
Advantages of an omnichannel sales strategy
There are a wide range of advantages on applying an omnichannel sale strategy, although our aim is to give the 7’s advantages that are the most important for us, inasmuch those are important for companies to achieve sales goals:
1. Better customer retention rates
Customers want to buy in the way that is most convenient for them, hence, an omnichannel experience is the best way to deal with the variety of means available to them.
According to Mgage, businesses that successfully employ a consistent cross-channel marketing strategy enjoy a 13% annual improvement in customer retention rates.
2. Turnover increase
The study carried out by Harvard Business Review mentioned before shows that omnichannel customers are 30% more valuable. Similarly, linking in with highest customer retention, it should be remembered that repeat customers, even if they only represent 8% of the total base, create 40% of revenue.
3. Increase in client satisfaction
The omnichannel strategy does not only go in one direction. In other words, customers check and buy but also expect you to offer them a good service through any of the channels they decide to choose.
Mgage offers us two revealing pieces of data in this regard:
- 64% of customers expect to receive real-time customer support, regardless of the channel.
- 75% of customers will return to companies they deem to have good service.
4. Improvement of the number of references and recommendations
Regardless of all the money your company can invest in marketing and advertising, there is nothing like word of mouth. Forbes points out a Nielsen study in which it was concluded that 92% of consumers believe recommendations from friends and family over all forms of advertising.
5. Better efficiency
Offering customers a comprehensive and centralised database, accessible through any channel, means increasing the visibility of your products and promotions and making all the information they may need available. Do not forget that 81% of consumers check and compare posts from their friends before going to the physical store.
6. Improved collection of customer data
In this article we already explained in detail the importance of sales databases.
Your company will be able to monitor its customers across all the channels it uses and, in this way, understand them better, knowing what their preferences are: the product cards they have looked at, what offers they have clicked on, etc.
This allows greater customisation of communications and promotions made with each client and that will make them feel special. They’ll feel that you don’t treat them like just anyone, but that you know them and care about them.
7. Connecting the offline and online experience
Today, it is not enough to have an online and offline presence, everything must be interconnected. Your ultimate goal should not be to generate sales in a specific channel, but to allow purchases to occur naturally and fluently in the channel your customer chooses.
Some fast food chains such as McDonald’s or Foster’s Hollywood offer discounts and promotions to their customers through their mobile apps from which they can benefit in their physical stores simply by showing them on their smartphones to the staff.
This type of interaction at all levels improves the relationship with clients and makes them participate and interact with your company at their own will.
An interaction is a sign that this client will go through your sales pipeline as follows: from potential customer to customer, from one-off customer to repeat customer, from repeat customer to customer that actively recommends you to their acquaintances.