Omnichannel eCommerce Marketplace – How Can You Benefit From It?

03/24/2020 5:32 PM

Omnichannel eCommerce delivers a brand experience to the customers. You can gain loyal customers and boost your sales with this strategy

The term omnichannel marketplace is becoming common in business usage. But what exactly does it mean? What benefits does it offer?

The term ‘omni’ comes from the Latin word ‘omnis’ and means all or every. Simply put, omnichannel eCommerce is an all-encompassing retailing strategy with a multi-channel approach to provide a seamless customer experience. The focus is to deliver a uniform customer experience across all touchpoints.

Today, customers depend on information from multiple sources before making a purchase decision. The omnichannel marketplace approach ensures that the customer experience across various channels is enhanced to effect a favorable buying decision

The omnichannel strategy utilizes the information from one channel to invite the customer to another channel and ensures a seamless transition.

Omnichannel vs multichannel: what is the difference?

Omnichannel and multichannel are similar in the basic process. Both involve selling across multiple channels. However, the two concepts differ in the manner customer experience is integrated across the channels.

Let’s understand the key difference between the two

Multi-channel commerce sells the products to the customers through various offline and online channels. The channels could be a retail store, print ad, website, or product packaging.

Through multichannel marketing, you interact with the customers across all these channels, create engagement and brand awareness. Here the focus is to reach the maximum customers and there is no effort to unify the customer experience across the channels or to integrate these channels into one whole. Each channel is considered independent of the other.

Omnichannel commerce shifts its attention from reach to providing a uniform shopping experience across all the channels. It can be an online platform or a brick-and-mortar store or a mobile device.

The channels are connected to deliver a holistic experience of the brand. It brings direct marketing, physical advertising, and social media marketing into its fold. This way a stronger relationship is forged between the customer and the brand. A consistent brand message is delivered is maintained throughout the marketing

Emerging omnichannel retail trends

Here are some omnichannel retail trends you should expect in 2020

  • Semi-automated solutions to save cost and time
  • Better understanding of customer pain points to build emotional connections.
  • Growth in social shopping.
Why should you choose an omnichannel eCommerce?

Building a successful omnichannel eCommerce strategy is challenging. Multiple touchpoints need to have standardized customer experience and integrate seamlessly. However, moving to omnichannel eCommerce brings several benefits to your business, making it worth the effort.

  • Integrates information and better analytics

    You will get information from different channels to understand customer needs better. Thus cross-reference of data becomes possible to understand and track customer behavior and take a holistic marketing approach

  • Targeting specific audiences

    With the better analytics that omnichannel eCommerce offers, you can target specific markets and audiences. You can use the inbound links to create marketing campaigns that target specific customer segments through apps or web

  • Increases customer loyalty

    Omnichannel eCommerce can improve customer relationships. You can provide a complete buying experience to the customers regardless of the channel they access. Happy customers always translates into loyal customers.

  • Gives higher sales

    Needless to say, an enhanced customer experience across multiple channels will bring in more sales. A study by Google Brands points out that omnichannel marketing results in a 14.6 % annual increase in sales. The happy shopping experience mostly brings in repeat customers for the business.

So, do not hesitate to take the plunge into omnichannel eCommerce. Businesses can use this marketing strategy to exceed customer expectations and stay competitive. If you are using a multichannel approach, it is time to upgrade to omnichannel eCommerce as customer experience is emerging as the key factor in business success