Is Omnichannel Marketing Overhyped?
The word omnichannel marketing might not be new to you. You must have heard of it unless you have been living under a rock. In fact, you might think that it is an extremely overhyped concept. But, we don’t blame you! Most people think that it is overhyped.
However, this word’s entry in the world of marketing denotes a shift in trends. It marks the end of traditional marketing as we know it, ushering in a new era of digital marketing. This change is a result of the shift in consumerism as we know it. Every consumer wants a personalized experience tailor-made to their likes and dislikes. They want face-to-face communication, but you have to get the timing right.
So, a marketer has to undergo immense pressure. Moreover, most people are present across a variety of devices these days, so there are multiple touch points involved. Hence, marketers need to track their prospects and manage them across a wide range of platforms. Since traditional marketing is ineffective, omnichannel marketing is the only answer to this problem.
What is Omnichannel Marketing?
The word omni means many. This reflects the multiple channels that marketers have to monitor in order to track their leads. Omnichannel marketing became popular amongst large corporations with extensive customer-bases. They had no way to tackle the shift in marketing and omnichannel marketing was the only answer. This gave rise to the thought that omnichannel was only meant for large companies.
But, the reality is it is perfect for any company. It does not matter if you are a fledgling startup or a mid-sized B2B company, omnichannel marketing is the only way forward. Omnichannel marketing allows marketers to step in the shoes of their prospects. This helps them understand what will be good for a prospect.
Omnichannel marketing helps marketers accomplish things that were previously considered impossible. It actually lets them make their own lives less stressful and their customers’ better. It makes Marketing departments more productive and boosts morale through a constant increase of profits.
Benefits of Omnichannel
Omnichannel marketing helps businesses to succeed by improving marketing processes. The benefits are countless and here are just a few to get started with.
#1: Better Customer Insights
Omnichannel marketing allows you to collect large amounts of data. All this data in turn lets you understand your audience better. These insights reveal behavioural patterns and consumer trends on your website. In fact, acquisition of this data answers a lot of questions regarding purchase behavior. This helps improve your lead generation process as you know how consumers might respond in the future.
You can take advantage of these insights and create a much more impressive experience for visitors. You can improve the effectiveness of your marketing campaigns and directly address the needs of your prospects.
#2: Increased Brand Exposure
Omnichannel marketing, as the name suggests is basically nothing but marketing across all channels. So, when you are using omnichannel marketing, you get to expose your brand to a variety of marketing channels. Omnichannel helps you improves your brand’s presence across online as well as offline marketing channels.
This also helps you reach out to a variety of prospects. It allows prospects to choose where they want to connect with you and how. It will also help you improve brand credibility and reputation if you play your cards right. The more exposure your brand receives, the easier it will be for people to recognize you.
#3: Increased Revenue
Omnichannel marketing helps you promote a consistent brand image across all marketing channels. This is in tune with consumers’ demand of having their shopping experience with a brand consistent across all channels. Since most consumers are omnichannel consumers, it becomes easier to impress.
As a result consumers engage with your brand more and purchase more. A consistent brand image reflects stability and reliability. This in turn, keeps increasing your revenue because every consumer loves a consistent brand in terms of experience and product quality.
Integrating Omnichannel Data
Integration is crucial for success. In order to integrate the data collected from so many marketing channels, you need to analyze the sources. Map out the path from first visit to final retention. Then, make sure you can track the entire path across multiple channels.
Integrating omnichannel data involves combining insights from multiple platforms including desktops and mobiles. Integration helps you send relevant messages to your prospect because now you get to see the complete picture.
Moreover, there are offline channels and online channels. Consumers nowadays usually plan out their purchases. They start researching about a product online. Then they visit brick and mortar stores to check out prices. The reverse happens as well. Sometimes consumers visit stores to try out products and get a feel of it. Then they purchase it online because it is cheaper.
All this data helps you understand a customer. And in this era of digital marketing there can be nothing more important than understanding your customer.
The Future Ahead
Only big corporations can use omnichannel marketing? No, omnichannel marketing is not limited to only the multinational organizations. It can adapt itself to any company irrespective of their size. Moreover, it is extremely necessary for a company to be present across all marketing channels to create a noticeable impact. More so, if you are a fledgling brand trying to make an impact.
So it is not a hype. Omnichannel should not be overhyped. It is a necessity at this point of time. With this shift in the marketing landscape, instead of running helter-skelter, it would be advisable to seek help from this marketing technology that will help propel your business forward.
Creating a perfect omnichannel marketing experience requires time, patience and perseverance. Then there’s the element of implementation without which a company cannot succeed.