Studies have shown that customers who visited a business, both, in-store and online have a 30 percent higher lifetime value than those who interact with the business through a single channel. To combat the conversion rates in the low single digits, every channel plays a key role in affecting the sales. Marketers have collectively agreed that omnichannel campaigns and communication promise higher revenues. Omnichannel marketing also diminishes the probability of losing the customers who frequent channels that you are not available on. Thus it enables customers to check the availability of a product on any device, via any channel of their choices such as SMS, voice, email, social, web/app, or walk-in. Omnichannel marketing is based on knowing your customer through purchases or browsing history data to provide customized interactions irrespective of the channel through which the premium experience is rendered. Hence all the digital interactions influence every cent spent by the customer. Moreover, people tend to swerve towards brands that offer not just an omnichannel experience but also a personalized one at that. Moreover, this has remained as one of the most challenging and poorly implemented approaches in modern MarTech.
Unified customer profile
An omnichannel roadmap is one of the most sought-after objectives in marketing. This can be implemented by building a unified customer profile that enables the segmentation of offers and content generated by the brands. The concept of a unified customer profile emerges from a robust omnichannel marketing strategy and further supports the growth of the overall omnichannel framework. Even so, not all companies practicing omnichannel marketing have accomplished the unified profile roadmap. One of the prominent challenges they face is the integration of data. Data integration is affected by internal silos and platform that prohibit the effective integration process.
Furthermore, channels that are set up in isolation through separate vendors from emails, SMS, push notifications, etc. Thus, these channels do not provide the real-time customer click information to the marketing or campaign automation platform. This makes it hard for customers to recognize different channels that are part of the same marketing effort, leading to further confusion and frustration. Hence it is crucial to unify data from all individual interactions and examine the channels and devices that the user relies on purchase and browsing.
See Also: IDERA | CIOReview