Conquering Omnichannel Challenges With Analytics
Regardless of whether you call it omnichannel, cross-channel or multichannel, the need to develop and implement a brand experience that is consistent across all channels should be very apparent by now. The challenge to become a verifiable omnichannel retailer is intricate and will be difficult, but it is also essential that it is undertaken.
This is because the basis of maximizing sales is in omnichannel retailing, and this does not extend to dressing up multichannel retailing so that it looks like omnichannel.
Although there is no longer any need to convince retailers that they need to develop an omnichannel strategy, there is still far too many retailers who are attempting to build their company around the assorted channels they operate through instead of focusing on what is key to their business, the customer.
This could be due to the fact that the main thing stopping retailers from providing a good service to their customers across all channels is that they do not have an aggregated view of who their customers are.
This observation also helps bring to light another fundamental challenge facing companies in their quest to deliver omnichannel strategies— the deconstruction of organizational silos.
While it may not seem like the easiest solution, retailers will find out that the simplest way to overcome these challenges is the development of an analytical system to gain insights into the behavior of their customers, and this must be collecting every bit of data generated from every transaction between the customer and the company.
The first step any company needs to take in this process is finding out who their customers are. From here, outlining the goals of the business, optimizing marketing activities and setting out retail strategies can be achieved.
This depends on the deconstruction of organizational silos, which can be the deciding factor of an unsuccessful attempt to create a great customer experience.
The silo approach to structuring the business results in customer databases being duplicated and will prevent an accurate picture of who customers are being developed. It is essential that companies recognize that each individual channel and point of interface produces data, which can be used to gain insight into the behavior of customers.
If companies are prepared to seek out and use the correct analytics solution for their business, they will gain the ability to use the data from every transaction with their customers.