March 9th, 2017

3 Keys to Success in Omni-Channel Retail

In January of this year, we released our second annual Mobile Maturity Model report. In this report, we gathered survey data into existing customer shopping behavior, future desired behavior and functionality, and a benchmarking study that evaluated how retailers are satisfying those preferences today. For the second year in a row, there is a significant gap between what customers desire and how retailers are delivering on those preferences.

As we look at the reasons behind the discrepancies, and solutions for closing those gaps, a few key things stand out. The first is making sure that retailers have a strong data and analytics platform, integrated systems and a single view of a customer. We recently published a white paper outlining insights around retail analytics, which you can view here.

The second solution to some of those gaps from our perspective, is having a robust omni-channel strategy. Yesterday we published another white paper, Omni-Channel Strategy: 3 Keys to Success in Retail, that outlines the emergence and importance of having a thoughtful strategy and the keys to success when implementing it.

A few key highlights from the white paper include:

3 Reasons to invest in and Adopt an Omni-Channel Strategy

  1. Omni-channel customers have been proven to be retailers best customers. Several research studies, including one recently released by the Harvard Business Review, suggest that omni-channel shoppers spend more both in-store and online when shopping.
  2. Mobile is a unique and influential channel. Mobile devices are great for capturing impulsive behaviors, influencing loyalty, and providing a channel for seamless access to information and influence over a purchase.
  3. Personalization, when executed properly via omni-channel, can increase customer engagement touchpoints and help foster and build relationships between brands and customers over time.

3 Ways to Ensure Omni-Channel Success

  1. Understanding your customer – While this seems to be a universal truth for all businesses today, when developing and executing omni-channel strategies it is an imperative building block for success. Without a strong understanding of who your shopper is, what they want, what they do, what they value, how they communicate – you will never be successful in communicating with them and give them the tools they need to be successful.
  2. Coordination when implementing the strategy – Omni strategies often involve a variety of key teams spanning across the organization. In order for the strategy to be coordinated and implemented, everyone needs to work together in sync towards the same goal in order to be successful.
  3. Deployment and Delivery – In conjunction with the proper coordination of teams, the actual deployment and delivery of any digital platform which is consumer or employee facing, is essential. Consumers have a low tolerance for broken or disjointed digital experiences – anything delivered in-market should be flawlessly executed.

As new technologies emerge and customer behaviors shift, retailers must be in a position to respond quickly.

To learn more, click here to download the white paper.

Tags: mobile omni-channel Omni-Channel Retail Omni-Channel Strategy Omni-Channel Success retail

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