Exploring The Benefits Of Omnichannel Marketing
While the differences in likelihoods of retailers actually making a first-time sale to a new customer compared to making additional sales to their existing customers are so staggering; more and more retailers are insisting on investing their capital into new customer acquisition strategies. Every business is different, those smaller retailers with the most loyal customers would likely benefit from continuing to cater to those customers. Much larger retailers are likely better off looking for ways to attract that next customer just based on their retail principles. What’s best for your retail business, though? This post will breakdown the ways in which each of these customer segments could boost your retail operation’s output in length.
Most retail organizations are prioritizing this new customer engagement because they see it as the most simple way to increase their revenue over the course of the year. Unfortunately, in retail, taking the easy way out isn’t going to yield the best results. As seen in the resource accompanying this post, most retailers are best off prioritizing an omnichannel strategy that connects online and in-stores sales techniques together to create a customized experience for customers. While most customers find that online shopping feels the most personalized as a result of cross-selling, with proper execution, the same tactics used online can be integrated into physical retail locations. Through these tactics and upselling strategies used by sales representatives in store, retailers can gain a competitive advantage.
Any retailer understands the need for an optimized omnichannel marketing strategy. With the boom of digital marketing continuing, any retailer’s online exposure can increase exponentially with the help of a sound digital strategy that ties into the physical retail experience as well. Think about it, most customers don’t spend all that long shopping in physical retail locations. On average, a customer will spend anywhere between fifteen minutes to an hour in a retail store. A strong digital presence allows retailers to continue to engage with their customers long after they exit their physical locations. In fact, a number of the strategies retailers use digitally are meant to attract customers to physical retail locations.
As mentioned previously, another strength of these strategies is the amount of personalization they can provide where physical retail locations may fail. The ability to customize a profile coupled with the retailer’s algorithms sharing products to a customer based on their interests, previous history and whatever other data the retailer collects makes a significant difference in the experience of every online customer. Through these channels, they can also offer customized texts alerting specific customers of a new shipment of a product they were looking for, or a deal that is exclusive to customers on an e-mail list.
As a small retailer, it can be tough to keep up with the trends of the industry, especially as they continue to change day by day. For more helpful information to stay on top of these trends, in addition to information on how to best maintain customers and attract new ones simultaneously, be sure to spend some time checking out the infographic accompanying this post. Infographic courtesy of IDL Displays