Many businesses and entrepreneurs are already familiar with the serious strategic advantages of omnichannel selling for eCommerce sellers. Omnichannel sales (or omnichannel commerce) is a multichannel sales strategy that offers a flawlessly streamlined and integrated customer experience.
It allows users to interact with products through multiple modes, whether they are browsing products on a phone, laptop, or tablet.
To understand how omnichannel selling operates and makes the buying experience smoother for consumers, it's helpful to understand it in relation to other modes of selling. So, what is omnichannel selling? And what are the other types of eCommerce sales strategies?
Single-channel commerce refers to the sale of a product through only one channel. This might be a physical business, an internet store, or an online marketplace such as eBay.
Depending on individual business goals, single-channel selling might be sufficient on its own. However, if you want to provide your customers with a more absolute experience of your brand, you might want to get to know the other options.
Some businesses take sales strategy a step further by operating multichannel selling. Multichannel commerce allows you to offer goods to clients through a variety of channels. Multichannel marketing is already a terrific way to get people interested in your business. However, omnichannel selling takes the use of multiple channels to the next level.
Omnichannel commerce, like multichannel commerce, takes place over several channels. There is no omnichannel without multichannel. The most significant distinction is that omnichannel commerce links all channels.
This ensures that your customers' experience is consistent across all platforms. When they buy products from you, they're met with a familiar streamlined experience that gives them confidence and assurance.
The benefits of omnichannel selling for customers are pretty obvious. It offers them easier access to your products and a seamless consumer experience. But what are the benefits of omnichannel selling for eCommerce sellers?
While this may initially sound like a consumer benefit, having satisfied customers is one of the most notable benefits for businesses too. As an eCommerce seller, keeping customers happy is what drives your business forward. Nine out of ten customers seek an omnichannel experience with service across communication mediums, according to UC Today.
Recent research reveals that consumers spend more when shopping through an integrated multichannel platform. Considering the fact that omnichannel selling connects multiple buying options in a network-like fashion, it's easy to understand how this could lead to more views and sales for your products.
Analyzing data is one of the most advanced and effective ways of understanding consumer behavior, the market performance of certain products over others, and what consumers respond best to. When selling with an omnichannel strategy, the data is often more accessible than manually retrieving it and comparing it from various individual channels.
With consumer data, you can easily profile the consumers who take a direct interest in your products. This will, in turn, enable you to create more effective marketing and advertising strategies that drive sales.
Being featured on an omnichannel platform is often a form of advertising in itself. Your products will come up in relevant search results. Relevance is a huge benefit because when businesses advertise, there's usually some degree of uncertainty about who they reach and how relevant their products are to the audience.
Having access to inventory data allows businesses to forecast which products are likely to boom within a given period. Consequently, businesses have ample opportunity to restock to meet the forecasted demand.
Omnichannel selling leads to increased inventory transparency. This means that sellers can easily choose the cheapest and most efficient way to store and ship their goods. Due to improved forecasting ability, you'll be able to organize it so you have less redundant stock sitting in storage and can opt for a storage facility with less capacity at a lower cost.
Shopify launched the Shopify Plus program in 2014 to compete with business eCommerce platforms like Magento and Demandware and to attract major eCommerce retailers. Shopify Plus is a fully hosted eCommerce platform for merchants and companies with a strong growth rate.
Shopify Plus includes a sophisticated variety of features that seamlessly integrates multiple selling channels. It offers an unrivaled customer experience and is the perfect solution for an omnichannel enterprise.
Among some of the most successful businesses that are tapping into the omnichannel eCommerce trend are Disney, Timberland, TopShop, Amazon, and more.