In an effort to provide a better customer experience, businesses across all sectors have been focusing on going omnichannel. The traditional ‘brick and mortar’ model of business is again in play. However, with omnichannel channel presence, there are certain boxes businesses need to check before going along with the trend. “We want to be available for consumers, both online and offline. At present, the trend shows higher growth in online than offline,” says Anupam Bansal, Director, Retail, Liberty Shoes.
While going omnichannel, businesses must keep an eye on unnecessary burns. Marketing is one of the verticals of a business where tracking expenses is a difficult task. In the present business environment, digital media is one of the preferred channels, Bansal adds, because “Digital consumption of media has far more measurability of results. It is nearly impossible to determine whether a newspaper advertisement was read or not.”
Commenting along the same line, Rashmi Shukla, Business Head at Jaypore, Aditya Birla Group, explains, “After the pandemic, you cannot not exist online. Your online presence serves as proof that your brand exists in the market. The first thing consumers do nowadays is googling your brand.” She continues, “The social media algorithms are changing at such a rapid pace that you can’t even keep up. You should focus on acquiring customers organically.”
Digital marketing is one of the key weapons businesses use to discover new customers, leave an impression on them and eventually make them buy your product. “We have to understand the nature of the online world; online consumers are restless; that’s what digital is doing to us. Customers are always looking for the next new thing,” explains Vandana Kohli, Founder Director of Tulip Comfort Wea.
Adopting an omnichannel presence brings with it its own set of challenges, such as increasing customer acquisition costs, converting first-time buyers into loyal customers, maintaining consistency in the customer experience across all channels and so on. However, by leveraging the technological advancements, businesses can cut costs in other verticals, such as marketing and logistics. With the changing shopping behaviour of consumers, businesses have to adapt to the new-age trends and satisfy consumers’ needs to remain in business.