Omnichannel marketing is a fascinating strategy that ensures your customers can have a fully immersive experience with your small business. Have you ever visited a business’s website and gotten a pop-up to join their email list, and then a live chat slides up asking if you need any help? Perhaps your online ads feature products from that brand for the next few days. If you did sign up for that email list, you can expect a coupon or two.
If you decide to use your coupon to shop in-store, you might get a new set of coupons at check out that you can use for either future online or in-store purchases. That’s omnichannel marketing. You can be extremely satisfied with your purchase and the business has made a sale. All parties win.
This article will teach you how to best deploy an omnichannel marketing strategy that will attract more customers to your small business and make them extremely happy to buy your products and services.
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What Is Omnichannel Marketing?
Omnichannel marketing uses different well-known marketing mediums to cater to a business’s target customers seamlessly for an improved chance of garnering sales. The strategy offers the same of a similar customer experience on different platforms that companies know their customers.
Many large brands already use omnichannel marketing, with 87% of retailers believing that the strategy is very important for their success. The global omnichannel retail commerce market as a whole is expected to grow to $11.01 billion by 2023. Small business owners should also see omnichannel marketing as an opportunity to gain customers and grow their brands.
Overall, brands with strong omnichannel customer engagement can expect a 9.5% increase in annual revenue, compared to a 3.4% revenue increase in a company with weak omnichannel customer engagement.
What Channels Can Small Businesses Use for Omnichannel Marketing?
It all depends on what your customers prefer. Omnichannel marketing is a big game of data collection and trial and error. However, there’s one thing of which you can be certain, you’re probably already on the right track.
Approximately 91% of retail brands already use at least two social media platforms. Meanwhile, using three marketing channels can yield a 287% higher purchase rate. Being a small business means you often don’t have to go too far out of the standard marketing wheelhouse to utilize omnichannel marketing, it’s all about figuring out which our customers prefer.
Good Channels for Small Business Omnichannel Marketing Include:
- Social media like Facebook, Twitter, Instagram, and TikTok
- Create a website
- Create an app
- Create an email list
- Create a short message service (SMS) list
- Create a coupon, frequent shopper, or rewards points program
- Start a YouTube channel or something similar
- Start a podcast
- Offer products on different e-commerce platforms like eBay, Amazon, MyDeal, and Catch of the Day
- Network and promote yourself/your business in person ― use Meetup.com or similar sites to find events
- Host special events at brick-and-mortar stores
Is Omnichannel Marketing Different From Multichannel Marketing?
Omnichannel marketing and multichannel marketing are very different. Even if the goal is to get a sale for the business, multichannel marketing is focused on the brand’s preference of marketing.
Even if the business markets on different platforms this strategy might not take into consideration if its customers use this platform or even how for the maximum exposure. Meanwhile, omnichannel marketing takes the customer into full account.
The customer’s channel preference, communication preference, engagement experience, incentives to buy, and other factors are paramount.
Who Does Omnichannel Marketing Work Best For?
In terms of businesses, omnichannel marketing is especially popular among e-commerce companies, with many brands using marketing to connect potential customers directly to their online shops.
In terms of customers, omnichannel marketing is popular among millennial and Generation Z shoppers. Millennial shoppers especially value consistent experiences across different channels, while both millennial and Gen Z shoppers are apt to make impulse purchases of items or services that they’ve seen on social media due to an effective omnichannel strategy.
How Can You Create Your Omnichannel Marketing Strategy?
The most important thing to remember is that this marketing strategy is all about your customers, their journey as customers and what encourages them to buy products and to continue buying products. You must learn about them and how they prefer to engage with your brand.
You can use the metrics and analytics information from the platforms you already utilize to help you study your customers and see how you need to tweak and update your omnichannel marketing strategy to their benefit.
You can gather data from Google Analytics if you have a website as well as from any social media platforms you might already have for your business or from any e-commerce platforms you might already have.
Go out of your way to make every channel you utilize feel personalized to your customers. Websites have automated chats. Social media platforms send followers reminders of upcoming events and sales. Email lists address members by name ― and so on.
Make sure you’re proactive on all your marketing channels. These channels should also share similar looks to give customers a sense of continuity.
As you continue your omnichannel marketing strategy, test, and measure your methods repeatedly to see what’s working best for your customers and, in turn, which channels are yielding the most engagement and propelling the most sales. Don’t be afraid to experiment with new methods and discontinue methods that aren’t working.
Keeping in mind a statistic from earlier, you likely want to always maintain at least three marketing channels to keep your omnichannel marketing strategy running smoothly.
What Are the Benefits of Omnichannel Marketing?
Omnichannel marketing is all about making your customers feel like they have made a good decision by purchasing your product or service. Positive association is ultimately a plus for both you and your customers.
Some benefits of omnichannel marketing include:
- More repeat customers, high customer loyalty
- Lots of data and metrics about customers
- High revenue growth opportunity
- You’ll be eager to integrate new technology into your business like new marketing channels
- Better customer experience, such as more recommendations
- Better brand visibility
- More efficient for you and your employees
What Are the Costs of Omnichannel Marketing?
The overall cost will vary depending on how much you’re willing to invest in the technology involved. A greater monetary investment might yield great results through methods, such as creating a website, creating an email list, or creating a mobile app. These options can vary between $50 to several hundred dollars and can be a single payment or a monthly or yearly subscription depending on the service chosen.
However, small businesses need not break the bank with their omnichannel marketing strategy. Using several social media platforms as your different channels can be just as beneficial.
For example, with Facebook being the parent company of Instagram, it makes it easy for you to share content instantly between the two platforms. Many people are also accustomed to downloading videos from TikTok and sharing them on other platforms, including Twitter, Facebook, and Instagram. Starting out small and investing when you’re more comfortable is always an option.
What’s an Example of Omnichannel Marketing?
Happy Cork is a small business in Brooklyn, New York. It’s a wine and spirits shop that’s done a pretty good job at utilizing omnichannel marketing. Among its channels are its Facebook page, Instagram page, Twitter, TikTok page, and YouTube channel.
It also has several methods of contact, including email, text message, Facebook message, phone, and FaceTime. Many pages have a Linktree page that lists all of their channels where the business can be found.
The brand has a website and an app where customers can order products for delivery, pick up, or shipping. The business also advertises its own wine club and hosts events, such as wine and spirit tastings, where owners of different brands featured at the shop are present for a meet and greet and to sign bottles.
Having an eclectic-looking logo, the brand uses it on all of its marketing material across all of its channels. The layout of the shop is also inviting and makes great social media photos. The business uses channels, such as Facebook and Twitter, that have the integration to alert followers down to the hour of when events will begin.
After events, Happy Cork shares recap videos across its social media platforms. The videos begin with a shot of the shop logo out front entering to showcase the goings-on at the events, with details about the brands that were featured.
Omnichannel marketing is the next step in digital marketing that makes it more beneficial to both businesses and customers. With all the advancements in technology, it makes sense that these channels and data analytics can come together to make an ideal shopping experience, especially as more people favor shopping online or a hybrid shopping experience. Omnichannel marketing just might be the modern-day version of the customer is always right.