Omnichannel strategies are no longer an option but a necessity to stay competitive for retailers today. Modern consumers now engage with brands through social media, mobile apps, ecommerce stores, bricks-and-mortar locations, and via email.
The challenges that Covid19 has presented retailers over the past year has only encouraged the drive towards digital channels. A greater number of consumers have now become used to shopping online. In 2020, as high as 87% of UK households made online purchases within the preceding 12 months, making this the highest online purchase penetration rate in the country in the past 11 years.
It has become critical now more than ever for brands to proceed with omnichannel strategies and to develop a one-to-one customer experience since customers are constantly shifting across buying channels. By adopting personalisation through marketing campaigns targeted to each customer, organisations can improve their user experience and drive better relationships with their audience across various points of contact, while also increasing revenue and profit margins.
An estimated 80% of consumers want personalisation from retailers according to Mckinsey since personalisation now extends to the entire customer experience instead of limited targeted offers like before.
Omnichannel personalisation defines the practice of creating customer experiences that are informed by real-time data from all channels, and extending them across every touchpoint, as a result, building consistent relationships with each customer every time they interact with the brand, no matter where the interaction takes place.
Although the final act of the purchase process is mostly carried out in physical stores, it is still essential that retailers adapt their communication and marketing strategies towards the integration of mobile and to focus on what matters most, the consumer.
Evolving Consumer Behaviour
Today’s shopper is constantly moving across buying channels and consumer habits have shifted, driven by ways their lifestyles have been forced to change as a result of the global health crisis.
Given the customers’ expectations, retailers must respond to the demand to create personalised experiences to not only differentiate themselves, but to survive. Many companies often fail across digital channels because they are not aware of their customer needs across omnichannel journeys, 36% of consumers say retailers need to do more to offer personalised experiences.
To uncover how essential personalisation is, 72% of consumers say they now only engage with marketing messages that are personalised and tailored to their interests. Overall, personalised experiences delivered across channels greatly impacts what customers purchase and strengthens brand loyalty.
Personalisation can also help brands to achieve better results in terms of sales and reaching out to a new audience. Today, personalisation of shopping experiences encompasses the tracking of consumer behaviours that is now common practice and is increasingly employing technology to use past patterns to make personalised suggestions and create a shopping experience that feels bespoke for every customer.
Many consumers today are now free to define the way they shop. Various options for example, are provided to satisfy consumers on their purchasing journey. Selections of shipping methods or payment methods are one of the ways that shoppers can change to their personal preference.
As it is important for retailers to be prepared for more unforeseen situations and evolving consumer habits in the future, adopting omnichannel technology will help retailers to retain customers as technology has become a dominant feature in our day-to-day living and purchase decision making.
Taking Advantage of your Customer Data
Making practical use of customer data enables brands to instantly connect with customers using hyper personalised messages on the right channel, at the right time. Omnichannel approaches and technology enables organisations to optimise channels to the full potential and puts the customer at the centre of the strategy to drive growth, as well as understanding their customers’ journey, behaviour and buying patterns to provide them with a truly personalised experience.
Data Clarity has developed ClarityOmnivue to specifically solve the challenges businesses face trying to mine multiple disparate data sources to deliver one 360-degree view of customers and business key performance indicators.
ClarityOmnivue delivers true, accurate data that is utilised to create individually customised targeted marketing campaigns that are personalised and relevant to the customer. This more personalised approach when connecting with their customers engenders trust and a positive relationship with the customer whilst at the same time is compliant with the customers’ privacy settings.
We have worked with retailers like Paul Smith to develop ClarityOmnivue that has given them the ability to easily identify and reconcile their data and providing all the information they need to know about a customer’s personality and preferences whilst remaining transparent about data collection, privacy, and usage.
Paul Smith have achieved an average increase in conversion rates of 40% like for like marketing activities compared to the previous year, and despite Covid19 which demonstrates the power of potential marketing on relevance and truly understanding online and offline customers’ buying behaviours.
Read our guide to learn more on how ClarityOmnivue can push retailers to focus on customer personalisation.
Retailers are constantly looking for the competitive edge and better ways to reach customers, more efficient customer journeys and opportunities to proactively meet customer needs.
At Data Clarity, we are on top of the challenges and opportunities this presents for retailers. We conduct data audits for organisations to highlight the current capabilities, strengths, weaknesses, and opportunities.
To discuss your organisation’s challenges with one of our experts or learn how you can take advantage of your data, contact us today.