BSG Guide to Omnichannel Marketing 2024

Marketing is a nuanced endeavor that requires diverse strategies to attract and retain customers. The standout strategy in recent years has been omnichannel marketing—a highly adaptable and engaging approach to lead generation. According to the latest research by Shopify, strong omnichannel brands have seen a yearly decrease of 7.5% in cost per contact, while approximately 70% of customers spend more with brands that employ a sophisticated omnichannel strategy.

Quality omnichannel shopping extends beyond traditional brick-and-mortar stores to mobile devices, online marketplaces, social media, and any online space your audience frequents through targeted retargeting ads. In this article, I will uncover the true value of an effective omnichannel platform and provide you with the best strategies to engage customers across all possible channels.

What is Omnichannel Marketing?

Omnichannel marketing, in which “omni” means “all,” and “channel” is a reference to the many ways customers might interact. So, in a nutshell, omnichannel is a type of communication to customers through any channels they prefer. For example: stores that integrate their online shopping experience with in-store pickup options, personalized email recommendations, Viber messages based on online browsing behavior, and targeted social media ads that lead to their e-commerce site.?

So, it is no surprise that research shows that more than half of B2C customers engage with three to five channels each time they make a purchase or resolve a request.

Cross-channel, Multi-channel & Omni-channel: What’s the Difference?

Marketers often speak of omnichannel, multichannel, and cross-channel marketing, using these terms interchangeably to describe the use of multiple channels for customer acquisition, engagement, and retention. However, subtle distinctions set them apart.??

Multichannel marketing

Involves various unconnected communication channels, each operating independently. Multichannel marketing treats each channel as a separate entity, focusing on maximizing the performance of each one independently rather than integrating them cohesively.?

Cross-channel marketing

Steps up by linking selected channels for a coherent customer experience, exemplified when a customer discovers a product online, tries it in-store, and then purchases it via a mobile device after not finding the right size in-store.??

Omnichannel marketing

Represents the zenith of this evolution, offering a seamless, integrated experience across multiple channels simultaneously, such as browsing products on a brand’s website, adding items to their cart, and then receiving personalized recommendations via email. This approach aligns all channels cohesively, ensuring consistent and comprehensive customer interaction.

Which Industries Need Omnichannel Marketing?

Omnichannel marketing is crucial across various industries to enhance customer communication and engagement through cohesive use of channels like email, SMS, Viber, WhatsApp, Voice Bot, and social media platforms. So, let’s take a look at industries that can benefit from it:?

• Enterprises integrate these communication tools to deliver personalized messages and support to customers globally, ensuring consistent brand experiences across all touchpoints.?
• SMBs (Small and Medium-sized Businesses) compete with larger corporations, using targeted email campaigns, SMS updates, and social messaging apps to engage customers directly and build lasting relationships.?
• Operators in telecommunications manage customer inquiries, service updates, and troubleshooting through a mix of voice bots, WhatsApp, and SMS, providing real-time, efficient customer service.?
• Affiliates promote products across different platforms, using email, SMS, and messaging apps to reach potential customers with personalized offers.?
• BFSI (Banking, Financial Services, and Insurance) sectors offer customers secure and seamless access to their services, whether it’s through transactional SMS for account alerts, 2FA, WhatsApp for customer support, or email for policy updates, ensuring a unified customer experience.?
• E-commerce/Retail creates a unified shopping experience, whether the customer shops online from a mobile device, through a web browser, or in a physical store, using email for promotions, SMS for order updates, and social messaging for customer service.?
• iGaming industries engage players across various platforms, employing email for promotions, SMS and messaging apps for real-time updates, and voice bots for customer support, ensuring a consistent and engaging gaming experience.??

These industries and more can meet their customers’ evolving expectations for personalized, convenient, and efficient communication and services.

How to Build an Effective Omnichannel Marketing Strategy??

1. Plan the Customer Experience. Understand the channels your customers use and their behavior across these platforms. Create a detailed plan to ensure a seamless experience across all touchpoints.?

1. Use Data as a Foundation. Leverage CRM data, social listening insights, and customers’ online search behaviors.??

1. Segment Your Customers. Segment customers based on behavior patterns to create personalized journeys. This approach helps in identifying different customer groups such as those at risk of churning or high-value customers.?

1. Get the Context Right. Ensure the relevance and timing of your messaging. Delivering the right message to the right audience at the right time is crucial for engagement.?

1. Select the Right Marketing Automation Tools. Evaluate the proper omnichannel platform for its strengths, flexibility, and scalability. The right tool should support your strategy from conception to execution.?

1. Implement Efficient Website Tools. Use tools like short URLs, number verifiers, and callback widgets to streamline communication and reduce operational costs. These tools improve efficiency and engagement.?

1. Make Your Organization Customer-Centric. Prioritize customer experience within your organization. Training employees to focus on customer satisfaction is essential for the success of any strategy.?

1. Continuously Analyze and Improve. Regularly review your omnichannel strategy’s performance using analytics tools. Identify areas of success and those needing improvement. Use this data to refine your approach, test new ideas, and adapt to changing customer behaviors and market trends.

4 Common Mistakes in Omnichannel Marketing

#1 Outdated Contact Information??

According to Neustar, about 60% of data, including contact numbers, email IDs, and addresses, becomes outdated within two years. Such issues can lead to breaks in the communication sequence and create gaps in channel systems management. Here is the solution: analyze the existing database with tools like Number Verifier first, to eradicate non-existing numbers. Afterward, it is beneficial to conduct additional contact analysis and share the information with marketing and sales teams to provide relevant information to customers.???

#2 Wrong Campaign Success Measurements??

Prioritizing misleading metrics like vanity metrics, raw traffic numbers, single-channel performance, immediate ROI, email open rates, and quantity over quality of interactions can misguide omnichannel marketing strategies and overall business direction.??

To measure omnichannel performance, focus on Customer Satisfaction Score (CSAT), Net Promoter Score (NPS), Conversion Rate, Average Order Value (AOV), Customer Retention Rate, and Channel Attribution. These KPIs offer insights into customer satisfaction, loyalty, spending behavior, and the effectiveness of each channel in the customer journey.?

#3 Lack of Connection Between Channels??

Imagine a scenario where a promotional offer is exclusive to a brand’s physical store and is advertised via Bulk SMS, aiming to drive foot traffic, but it inadvertently upsets online customers who find they can’t access the same deal on the company’s website. To mitigate such conflicts, businesses must integrate their promotional strategies across all channels as the trust of the clients is the primary treasure for any business.?

#4 Nor Adjusting to the Client Data??

After establishing the initial strategy, it’s crucial to adapt based on insights gathered along the way. This means analyzing the sales funnel to pinpoint where the company is losing potential users, identifying the underlying issues, and implementing solutions to address them. Continuous optimization ensures the omnichannel platform remains effective and responsive to customer needs and behaviors.?

Bottom Line??

The omnichannel platform will emerge as a formidable marketing tool for businesses in 2024, offering customers a tailored and comprehensive marketing experience. Therefore, delve deeper into omnichannel marketing to deliver a seamless customer experience across various channels for users.?