Why You Should Adopt Omnichannel Marketing and How to Do It Right
As Australians embrace 24/7/365 shopping across multiple channels, there will inevitably be a shift in consumer demand and expectation, forcing businesses to undergo drastic transformations that go beyond the occasional site update.
Enter omnichannel marketing.
It’s more than just a buzzword – it’s one way for businesses to create a seamless and satisfying shopping experience, and in effect, gain an edge over the competition.
What is omnichannel?
It’s all in the name – “omnichannel” is derived from the Latin word omnis which means “all”.
Simply put, omnichannel is the concept of using all your channels, both online and offline, to create a singular and seamless experience for consumers.
It’s only natural for the modern consumer to bounce around different channels and devices when shopping online. From bricks-and-mortars to product listings, and from SMS to Instagram, the buyer’s journey takes them along various touch points.
Omnichannel marketing enables you to create relevant and tailored messages that adjust to consumer behaviour as they move through the buyer’s journey regardless of the channel they’re using.
The result is a personalised and fully integrated shopping experience from the first touch point down to the last.
The difference between omnichannel and multichannel
Both approaches use multiple channels and ensure seamlessness, consistency, and integration. But there is a huge difference between the two.
While multichannel places the brand at the centre of its strategy, sending out the same message to consumers on all available channels, omnichannel marketing puts the consumer at the heart of it all.
Moreover, the omnichannel strategy modifies and adapts its message based on how the consumer has interacted with the brand across different channels.
This means that all channels will update automatically as the consumer moves along the sales funnel. This ensures that any message that gets sent to the consumer is relevant and meaningful.
In today’s market, the multichannel approach is no longer a sufficient response to consumers’ changing expectations and the increasingly dynamic nature of online shopping. Consumers have come to expect fast deliveries, continually updated information and constant digital connection.
Why invest in omnichannel marketing?
Online spending accounts for about 9% of retail trade in Australia. That figure is projected to increase to 12% by 2022 – an 80% increase from AU$24.4 billion to a staggering AU$43.1 billion in annual volume.
Likewise, the global ecommerce market is expected to grow to AU$3.5 trillion in revenue by 2021, a 25% increase from 2019. Globally, Australia is in the top 10 in terms of ecommerce market size along with the United States, United Kingdom, and China. (webalive.com.au)
Businesses that adopt omnichannel strategies as early as now will be able to get their slice of pie.
CBRE Australia also presents some compelling statistics on omnichannel sales and marketing:
Omnichannel marketing tips
Omnichannel marketing requires retailers’ involvement in, and transformation of, every aspect of their entire business. This includes merchandising and advertising as well as order taking, payment, fulfillment, and delivery.
If you haven’t already adopted omnichannel for your business, here are a few ideas to get started:
Get to know your customers
There are many ways to segment consumers when gathering data and developing your omnichannel marketing strategy – demographics is just one of them.
You can also segment consumers based on shopping behaviour and their interactions or level of engagement with campaigns on various channels
BigCommerce’s 2018 Omnichannel Retail Report gleaned insight into where consumers in the Asia-Pacific (APAC) region do their online shopping based on demographics and preferred channels.
For instance, the 3,000-strong survey found that while Gen Z (18-21 years old) is partial to Snapchat (27%) and Instagram (15%), Gen X (38-53 y.o.) and Millennials (22-37 y.o.) shop at about the same frequency across all channels.
Here is a breakdown of their findings:
- Gen Z
- Gen X
- Baby Boomers (54-72 y.o.)
Target your messages
Targeting and personalisation are crucial to a successful omnichannel marketing strategy. That’s why it’s important to know your customers. This allows you to offer a deeper level of personalisation.
Using relevant data, you can set up automated emails or messages that get triggered by specific actions or behaviours, or when a certain period of time goes by with the consumer not taking action.
This allows you to send carefully crafted messages that are relevant to your customer needs depending on where they are in the buyer’s journey. This also increases the chances of the consumer responding in the way you want them to, whether it’s to sign up for a newsletter or make an actual purchase on the site.
Based on several case studies, SuperOffice found that their triggered emails had 5x higher open rates as well as 15x higher click-through rates compared to traditional emails.
They also found that triggered email campaigns can account for as much as 20% of a business’ email marketing revenue.
Test different messages
Experts recommend testing messages to measure effectiveness and identify copy that needs improving. A/B testing gives you valuable data that can enable you to make practical and actionable decisions to improve your marketing. It will also help you get more out of your marketing budget.
Aside from messaging, marketers also test other aspects of their email campaigns, including subject lines, calls-to-action, and sender names.
Work with an ecommerce marketing expert today
Ready to go omni? Contevo believes in “Continuous Evolution” – we understand the need for businesses to keep up with changing consumer behaviours and adapt quickly to an ever-evolving market.
With more than 15 years’ experience in digital marketing, we’re passionate about data, messaging, and A/B testing. But most of all, we’re passionate about helping businesses connect with consumers. Let us help you deliver products and services that add meaning and convenience to people’s lives.
Contact us today to schedule a consultation.