Omni-channel marketing simply means to develop a seamless customer experience with the use of all possible platforms to connect with the customer. It is about establishing and making the company’s presence felt to the consumer consistently keeping in mind their individual needs and wants. Along with in-store retail experience, this approach brings in various media networking such as emails, text messages, television commercials, web commercials, mobile devices, online and so on. Started in brick-and-mortar stores that are now widely referred to as the offline shopping channel (Knight Frank, 2017); retailing has grown many branches into other communication media sources. Now, retail is trying to implement a 360-degree brand experience for the involvement of the customer. Improvising on the efficiency of the multi-channel marketing approach, omni-channel is now the way ahead simply because it increases the interaction with the customer. Optimising the use of each channel in the interest of the brand to capture the existing and potential customer’s attention is the omni-channel approach. It is all about creating an individualised, sophisticated and consistent experience with the customers as the core focus. Individualising the experience through the real understanding of the customer’s wants helps to deliver more efficiently.
All channels used in the omni-channel approach are interrelated even if their content may appear to differ from one another. Each channel is used to approach the customer using its own best features to enhance their relationship with the brand. Omni-channel marketing puts the consumer at the center and provides them with the option to shop at their own convenience. This process has led to several companies to adopt an omni-channel approach allowing brands to engage with their customers on many platforms.
Let us look at a comparison between omni-channel and multi-channel marketing systems.
Multi-channel marketing refers to the ability to interact with potential customers on various platforms. A channel, for instance, might be a print ad, a retail location, a website, a promotional event, a product’s package, or word-of-mouth. Omni-channel marketing refers to the multi-channel sales approach that provides the customer with an integrated, seamless shopping experience. The customer can be shopping online from a desktop or mobile device or in a brick-and-mortar store and the experience will be seamless. (Lindsay Tjepkema, n.d.) In simple words, omni-channel is a more advanced version of the Multi-channel approach.
To put a finger on the highpoints, the Multi-channel approach sends messages to consumers through maximum number of channels although it may lack sophistication or quality content. This method is focused on quantity and delivers through channels such as emails and social media. Omni-channel on the other hand is aimed towards delivering content that is inter-related on every channel from in-store to website creating a holistic experience of the brand for each customer. The focus is on building a stronger relationship between consumers and the brand. Individualized experience for every customer attracts attention towards the brand. When brands offer customized solutions to consumers based on their real-time needs, interests and consumer data, they receive more consumer loyalty. For example, Myntra- an Indian fashion e-commerce website have engaged themselves in educating people about the latest trends through blogging, making recommendations based on the customer’s last purchases, convenient return policies and the standard in-store shopping experience in a few major cities. Another good example of the same is StyleCracker- a ‘personalized fashion for everyone’ based company. Their approach to the implementation of Omni-channel was a scheme based on subscription. The process was to acquire details of the customer and then customize a box of personally styled looks which was then delivered to the respective consumer. The customer then chose the pieces he/she liked and simply returned the rest back to the company without having to bare any cost other than that of the items kept back. This infused a sense of having a personal stylist among consumers which then led to more engagement with the brand.
Companies that have opted for the Omni-channel marketing strategy have achieved a 91% higher year after year increase in retaining customers than the brands that have not implemented the same (Lisa Manthei, n.d.). Consistency plays a major role in the working of the Omni-channel strategy. Brands must ensure that every channel used offers the same experience to the consumers with the delivery of a consistent brand image maintaining the highest sense of similarity. Every department of the brand needs to work on the same agenda and deliver a certain level of quality. For example, PR, customer success, social media and even sales teams, must all portray this consistent message to ensure the strategy implementation is successful.
Earlier, it was easier for brands to create an identity in their respective markets when many of them produced under monopoly. Brand names were often used to describe the product increasing sales and making it a part of the customer’s life. One of the well-known examples of the same would be McDonald’s. But today with the ever-increasing competition and multiple companies producing products with common utilities, it has become tougher for a brand to be remembered. Hence, the Omni-channel marketing strategy must be adapted to cater to the growing requirements of the customer as an individual. With the use of various media platforms, the brand can acquire more attention from the customers by posting diverse but inter-related content. It gains the brand more access to more data from the use of multiple sources. Each platform needs to work in harmony with one another. The brand gains the loyalty of the customer creating virtual monopoly. According to Facebook IQ, 54% of omni-channel shoppers say they are more likely to shop with a retailer that makes it easy to buy on several devices. (Marianne Chrisos, 2018.)
The use of Omni-channel marketing comes with its own set of challenges. Firstly, the brand implementing this system needs to have a higher budget. To run efficiently on multiple platforms, the brand needs to develop a team who will deliver the optimum use of these media portals. It also demands more consistency in communication and creation of engaging content which demands more skills from all employees (Helen Jackson, 2016.) simultaneously increasing sales bringing in more revenue.
Let us now investigate the implementation of Omni-channel marketing strategy in the luxury fashion market.
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