What is Omnichannel Ecommerce and Why it Matters?

Omnichannel Ecommerce CX

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According to statistics, e-commerce currently accounts for more than 20% of total retail spending and is anticipated to grow to nearly 25% by 2026.

These findings underscore the significance for brands to begin planning now by installing in-demand technologies and developing successful strategies to remain competitive and provide outstanding customer service in the future.

A decade ago, companies could get away with having just one online store. This would distinguish a business from the competition and facilitate sales if designed properly. Nevertheless, the competitive landscape today has become much tougher with eCommerce becoming mCommerce and, now, social commerce.

Every day, customers engage with brands through several e-commerce channels. Businesses are certainly used to reaching out to their customers through social media, WhatsApp, live chat, email, and SMS marketing, but these channels may not provide a satisfying experience unless they’re connected. 

Only 3% of customers prefer their experience to be as automated as possible. The rest seek greater personalization in their interactions, this is where Omnichannel e-commerce comes in!

What is OmniChannel E-commerce?

Omnichannel e-commerce is a seamless shopping strategy that connects brands with their customers across different channels to personalize and enhance the customer experience regardless of where or when they shop or interact with the brand.

Omnichannel E-commerce

A Study by Harvard Business Review stated that 73% of all customers use multiple channels during their buying journey. 

In the same study, Harvard Business Review discovered that the more channels the customer used, the more value they had:

  • Customers would spend 4% more in-store and 10% more online than any single-channel customer
  • Customers who also use four or more channels spend 9% more in-store

Why brands should leverage omnichannel e-commerce solutions?

Consistent Messaging: 

One of the main advantages of having an omnichannel approach to e-commerce business is the ability to communicate your brand’s message consistently across every channel.  The omnichannel approach enables businesses to make sure that regardless of where and when customers interact with your brand, the brand’s message and customer service remain unbothered 

Customer Journey Analysis: 

Brands that use omnichannel e-commerce can acquire and combine customer information from many channels. When combined, this data provides a comprehensive picture of the types of consumers who are interested in your brand and how they act, allowing you to personalize their experience.

Personalized Customer Service: 

To deliver a superior customer experience brands must understand the customer journey so that every step of the customer interaction can be personalized. With an Omnichannel contact center solution, E-commerce businesses can personalize the entire customer experience starting from a customer seeing product recommendations to buying it and getting order tracking details and businesses can combat high cart abandonment rates. 

 Customers who employ omnichannel platforms exhibit a 30% higher lifetime value than those who stick to a single channel, underscoring the significance of providing personalized experiences.

Seamless Shopping Methods:

The modern customer journey is no longer a straightforward path. 

Consumers could engage with a brand up to 15 to 20 times before buying. 

Companies can learn about the consumer journey by analyzing customer feedback, third-party vendors, online platforms, and email. Businesses can provide a more seamless shopping experience for their customers by integrating several channels, such as ordering online and picking up in-store, returning in-store, or making a basket on mobile and checking out on desktop.

Increased Customer Retention and Sales:

Companies who implement omnichannel customer engagement strategies typically keep 89% of their customers, in contrast to 33% for those with poor omnichannel customer engagement (Aberdeen Group via Internet Retailer).

Companies can use a variety of techniques to retain customers and develop brand loyalty, including convenient purchasing alternatives, personalized interactions, and seamless service across all platforms. When customers are pleased, they are more likely to give favorable feedback and endorse the brand to others, resulting in positive word-of-mouth marketing. Companies can increase their spending both in stores and online by providing different avenues for customers to engage. This expands their market reach and visibility. 

Meeting customers where they are and offering diverse pathways to interact with the brand can attract new customers and keep them coming back, ultimately increasing revenue.

Building a Winning Omnichannel E-commerce Strategy

Develop buyer personas

There are different types of customers you can expect depending on the products and services you offer. You won’t be able to attract them with relevant messaging unless you know your ideal customer segments. When planning an omnichannel retail strategy, consider the buyers’ preferred channels, purchase patterns, etc. 

Choose your channels

To determine what channels to use, you must understand your customers’ behavior. It’s critical to remember that omnichannel does not only refer to using the right channels but also to integrating them to create the most seamless shopping experience.

Be omnichannel in your marketing

Once you’ve determined which channels you want to target, you’ll need omnichannel strategies for marketing. You can start by understanding how customers discover you, interact with your brand and make purchases.

Understanding customers helps segment them for targeted campaigns. Personalize content for each channel in omnichannel marketing. Use push notifications for quick messages and compelling copy in email campaigns. Retarget with banner ads on multiple platforms to drive conversions.

Selection of the right software:

To ensure the success of your omnichannel e-commerce plan, it is essential to obtain the appropriate software. This software will enable you to effectively handle sales and e-commerce activities on multiple channels. Omnichannel platforms will synchronize your physical stores, websites, mobile apps, social media shopping apps, and other online marketplaces.

Integrated Customer Support for Omnichannel E-commerce

With integrated sales channels comes a need for integrated customer support. Your support agents need a way to track a shopper’s interactions with your brand from channel to channel, without dropping the ball.

With Intellicon’s Communication Platform as a Service (CPaaS) businesses can speak with customers through any channels in real-time, without having to build any back-end infrastructure. 

Get the most out of AI & Automation To Boost Omnichannel E-commerce

Automation can streamline repeatable processes, allowing you to focus on more critical tasks. Examples include using chatbots for customer inquiries, selecting a tech stack for real-time data, setting up behavioral triggers for personalized marketing, and implementing abandoned cart programs to encourage purchases. Automated follow-up messages can improve the customer experience by offering discounts or incentives on future purchases.

AI is transforming the e-commerce industry by enhancing customer interaction and personalization via data analysis and conversational commerce. Today, businesses can use AI to monitor customer behavior, customize messages, and streamline inventory management for a consistent brand experience. 

AI virtual assistants provide instant assistance and product suggestions for round-the-clock customer support. By leveraging AI, companies can merge online and offline platforms, boost customer satisfaction, and enhance omnichannel marketing strategies without hiring additional staff. AI changes how businesses interact with customers, making brands more relatable and trustworthy companions during the shopping process. Ultimately, AI is a powerful tool that can truly revolutionize your business approach and drive success.

Conclusion:

The key to successful omnichannel e-commerce is understanding your customers and offering tailored solutions. Omnichannel retail can increase sales, build customer loyalty, and outperform competitors, but it must prioritize the customer and be seamless across all channels, both online and offline. 

Intellicon with its Intelligent Omnichannel solution for e-commerce and retail businesses streamlines the omnichannel customer experience, providing real-time updates, customer support, and tracking revenue, and performance with insightful dashboards across various channels. 

Contact us today for a personalized demo and Optimize your online store with an Omnichannel e-commerce solution. 

 

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