Building an Effective Omnichannel Retail Strategy

Did you know that approximately 80% of customers check the company’s website while shopping offline? Modern buyers expect and search for a seamless shopping experience, and single-channel access is no longer sufficient for them. It cuts additional possibilities to attract more customers to the brand’s product. Single-channel thinking is killing retail loyalty, while omnichannel approaches extend the customers’ capabilities and access to goods.

Today, Simply Contact invites you to explore the power and efficiency of the omnichannel retail strategy. Learn more about key pillars and mistakes to avoid. We will share recommendations on how to implement an omnichannel strategy and when to consider an outsourcing partner.

What is omnichannel retail?

Omnichannel retail is a comprehensive strategy that focuses on delivering a seamless shopping experience to customers. Instead of choosing between offline and online selling, brands allow customers to interact with them at every possible touchpoint. 

Omnichannel retail enables products to be made available and visible across websites, mobile applications, and in-store locations. As a result, potential buyers receive offers for what they want when they need it. They are not bound to a single channel and can access the desired items from both physical locations and any device.

Why do most retailers fail at omnichannel retailing?

There are a few common mistakes that often lead businesses to fail when they attempt to implement a new omnichannel strategy in retailing.

Disconnected systems and teams

Disconnected tech stacks, such as inventory and CRM systems, can cause issues in creating a seamless user experience. The same is true for departments that work independently, resulting in a lack of connection between retail and omnichannel management.

Lack of a unified database for product and customer data

Without an accurate database that provides teams with information about products and buyers to refer to, it is nearly impossible to deliver a consistent experience across multiple channels.

Lack of investments

Cutting corners on budget and talent for digital retail can result in higher expenses than accurate budget planning. Businesses need to understand that they cannot simply bolt on an omnichannel strategy to outdated infrastructure; they require comprehensive updates.

Inefficiency, trying to be everywhere at once

Sometimes, businesses that only start working with omnichannel try to spread resources too thin across all channels. Instead of trying to cover everything, we recommend focusing on the key journeys relevant to a specific target audience.

Inconsistent pricing and promotions

It is essential to ensure that both online and offline stores display the promotion and pricing accurately. Mistakes in pricing can impact customer loyalty and erode trust in the entire brand.

Core pillars of an effective omnichannel retailing strategy

To create an effective strategy, we recommend focusing on three main pillars: impactful channels, adapting communication, and optimizing operations. Let’s examine each part more closely to discover its value for businesses.

Channels with the highest impact

You need to find out which channels are most popular among your target audience. Knowing the relevant touchpoints and the type of items the customer is looking for makes it easier to build an effective strategy. For instance, some buyers prefer to shop via website pages, while others may look for required items via social media pages. 

Additionally, it is essential to be informed about channel usage, so you require a solution to measure users' activity. Artificial intelligence and analytics can significantly aid in evaluating the effectiveness of a strategy and tailoring a personalized omnichannel retail experience.

Communication adaptation

Messaging will address the audience more effectively if it is tailored to a specific channel and fully aligns with its format. For instance, you can optimize the content to make it more relevant to the age range or interests of the majority of buyers who use this type of channel. We also recommend aligning internal teams to ensure a consistent tone of voice from all agents and provide timely assistance. 

Optimized operations

Buyers will not get a seamless experience if the processes do not work uniformly. For instance, the company should prioritize streamlining workflow, including enhanced inventory visibility and accurate order routing. When all departments work as a cohesive unit, nothing disrupts the flow. You can improve operational processes by automating certain aspects of them with technology solutions.

How to launch omnichannel for retail: Step-by-step guide

To simplify the implementation process for businesses, we have developed a straightforward, step-by-step guide with tips on where to focus and how to achieve better results.

Step 1. Complete channel audit

Before implementation, it is vital to know the performance of the existing touchpoints. By evaluating it for each channel, you can identify common gaps in the customer journey and detect opportunities for effective integration. Identifying patterns in behavior and widespread pain points will help develop a strategy that meets real customers’ needs.

Step 2. Focus on high-quality customer experience

A customer-centric approach is one of the most effective strategies for winning customers’ hearts. For instance, you can apply personalization to address pain points and buyers’ preferences. As a result, the overall omnichannel shopping experience will improve. You can implement loyalty programs or apply personalized product recommendations to attract more attention to the brand and make customers feel valued.

Step 3. Investments in the relevant technology

Technology is always the ground for an efficient strategy. CDP (customer data platform) will help keep all departments informed about buyers across channels. With OMS (order management system), inventory visibility and order fulfillment will become more effective and seamless. CRM systems enable the tracking and management of customer interactions. We also frequently utilize automation tools to streamline procedures and communication across various channels. 

When selecting a tech stack, we recommend considering solutions that are easy to integrate with your existing system and those that can scale for future growth.

Step 4. Prepare your team

Omnichannel support requires comprehensive training. The team, equipped with relevant skills and knowledge, can act more efficiently and deliver the required service level to customers. Focusing only on technical aspects is a common mistake; keep in mind that soft skills are equally important, especially problem-solving and active listening. Collaboration between departments can also enhance the customer experience.

Step 5. Constant measurement and optimization

Clear KPIs and regular data analysis will help you understand whether you have hit the desired target. Insights enable a more accurate approach to refining and ensuring the brand stays competitive. With constant monitoring, it is easier to respond to customer feedback and changing conditions on time.

When should you bring in an outsourcing partner?

Omnichannel customer support outsourcing is a primary solution to addressing the lack of resources, in-house expertise, or capacity to scale. Finding and embedding new specialists or retraining existing ones can slow down growth, which can be compensated for by a reliable partner with a time-proven framework, tech stack, and talent.

Staffing and scaling your in-house support team can be quite expensive, adding to the already bloated budget for an omnichannel strategy.

An outsourcing partnership is a good option for companies that want to access round-the-clock multilingual support and enter the global market. Also, this decision can help close customer support gaps if you lack in-house agents to cover all required operations.

Proof it works:
What happens when retailers get omnichannel right

Based on our experience as a trusted provider of omnichannel customer service, we can say that companies can expect the following advantages:

• Seamless customer journey across relevant channels.
• Higher sales: customers tend to spend more when they shop through multiple channels than when they use only one.
• Better inventory visibility.
• Improved operational efficiency thanks to a customer-focused strategy.
• More accurate insights collected from several touchpoints.
• New buyer segments.
• Better customer access to products via the use of preferred channels.

Conclusion

So, what is an omnichannel retail strategy? It is an opportunity to extend customer access to your product and reach larger segments of potential buyers. With an omnichannel strategy, the company can create seamless customer experiences across all key touchpoints, providing them with exactly what they need when they need it most. It can significantly increase operational efficiency and collect valuable insights to fit customers’ expectations.