As we start to look ahead to a new year (where did the time go?!), the presence and importance of omnichannel marketing are becoming all the more apparent. Integrated, cooperative shopping systems and investment into continuous modernization of those structures help brands and retailers connect better with their customers and — more importantly — capture a larger share of shopper dollars.
Success with omnichannel marketing is only possible when experiences are consistent, convenient, and motivating. When these elements intersect, consumers respond positively and with higher rates of both spending and loyalty.
Shopper needs are now more involved than ever, and span all channels available to them. And as marketing legend Roy H. Williams once said, "the first step in exceeding your customer's expectations is to know those expectations." Below are twenty-one insights that will help you understand, apply, and profit from those expectations.
Consumers Crave Consistency and Convenience
Disjointed experiences will drive customers away in a blink of an eye. Consumers have become more selective about the stores, brands, and technologies they interact with due to a slew of current global events. As a result, all aspects of the shopping journey across all touchpoints must demonstrate consistency and convenience — or otherwise risk purchase incompletion or channel abandonment.
- 98% of Americans switch between devices throughout the day.
- Modern consumers use an average of almost six touch-points with nearly 50% regularly using more than four.
- Nearly 80% of consumers have made a purchase using a mobile device in the past six months.
- 85% of digital consumers start the purchasing workflow on one device and finish it on another.
- 83% of shoppers indicate that convenience while shopping is more important today than five years prior.
- Companies with extremely strong omnichannel customer engagement retain on average 89% of their customers. Companies with weak omnichannel engagement retain only 33% of their customers.
- 45% of shoppers in physical stores expect sales associates to be knowledgeable about online-only products.
- 71% of consumers want a consistent experience across channels, but only 29% say they actually get it.
- Over 60% of Americans prefer solving basic customer service issues through a self-service website or app.
Omnichannel Focus Yields Results
When the omnichannel approach is given the attention it deserves, the potential returns are nearly limitless. Campaigns involving multiple channels frequently outperform their over-localized alternatives, with retention and loyalty benefiting greatly.
- Marketers using three or more channels in a campaign earned a 287% higher purchase rate than those using a single-channel campaign.
- Omnichannel customers spend 4% more in-store and 10% more online than single-channel customers.
- Omnichannel campaigns that involved SMS at some point were 47.7% more likely to end in conversion.
- Customer retention rates are 90% higher for omnichannel vs. single channel.
- Omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel.
- Campaigns integrating four or more digital channels will outperform single- or dual-channel campaigns by 300%.
- The opportunity cost of not being omnichannel is at least 10% in lost revenue.
Industry Investments are Gaining Ground
Insistence on this methodology’s potential is not enough without proven results communicated by industry peers. Those already invested in omnichannel presence will be familiar with the below successes — while others, who’ve exhibited hesitancy, may find inspiration in the format’s growing accomplishments. Marketers are now recognizing the possibilities of omnipresent engagement.
- The number of companies investing in the omnichannel experience has jumped from 20% to more than 80% since 2012.
- 46% of retail executives said they plan to increase their investment in omnichannel retailing moving forward, compared to their plans prior to COVID-19.
- 64% of marketers cite lack of resources and investment as their top barrier to omnichannel marketing.
- Almost 90% of retail leaders agree that a seamless omnichannel strategy is critical to business success.
- Nearly half of all companies have already moved to a digital-first approach for customer experience.
Time To Focus In on Spreading Out
Omnichannel is shaping up to be a major tentpole of future marketing endeavors, and has already made significant strides in recent years. Implementation of numerous solutions across various channels will result in more engaged, loyal customers who trust brand and retailer interactions. Again, success here relies on consistency, convenience, and motivation — all possible by syncing up your strategies on every channel.