Of omnichannel marketing's many advantages, one is especially useful for shaping your retail strategy: big data. All the figures streaming in from a full spectrum of channels provide an overarching and detailed view of customer behavior that can help you better target your desired market.
Omnichannel marketing also allows retailers to compare data sets from each unique channel. We look at three key metrics measured by an omnichannel marketing approach, and explain how you can use them to attract more customers.
- Online: The number of times a specific product page is loaded on your e-commerce site.
- In-store: The number of times a specific product page is accessed on an in-store tablet or kiosk.
This metric determines which products (such as type, color and brand) are most popular with online vs. in-store visitors. You can also delve deeper and ask, for instance, why a particular item isn't leading to conversions even though it's drawing interest. Is the price too high or is there a lack of information available about its features? By knowing which pages shoppers have viewed, you can make informed decisions about which merchandise you should stock more often and how you can motivate your customers to make a purchase.
Tip: Send an email reminder to customers who visit a product page frequently without buying anything. The item is obviously on their minds, and they might just need a friendly nudge to seal the deal.
Time spent in store (dwell time)
- Online: The duration of time a visitor spends on your e-commerce site.
- In-store: The duration of time a customer spends in your brick-and-mortar store.
The more time a customer spends on your site or in your store, the more likely they are to make a purchase, according to a Path Intelligence report. You can examine the path a customer takes through your store to see which areas they tend to visit first and how long they spend in each section.
Tip: Reduce your "bounces"—visitors who leave right away—by equipping your sales associates with accessible and up-to-date information. With an Endless Aisle solution on hand, they can quickly answer any questions, leading to satisfied customers who will feel compelled to stay in the store knowing they'll receive reliable and prompt service.
- Online: The number of purchases made on your e-commerce site.
- In-store: The number of purchases made at the cash register.
This is one of the most crucial metrics for retailers, as it directly translates to revenue. An omnichannel approach shows you how many purchases have been made on each of your channels, whether it's your e-commerce site or your brick-and-mortar store, so you can gain a big picture view of your success. Specifically, you can monitor what types of purchases are made more often online or in-store, and where in the shopping process your customers tend to drop off.
Tip: Ensure your customers never leave a store empty-handed by implementing a drop shipping solution. That way, if your store is out of stock for a particular product, you can order it from the warehouse and have it shipped to one of your stores or the customer's home right away.
The power of omnichannel marketing
With omnichannel marketing, you'll gain strong insights into your retail business. The data you receive through all of your channels can help you readily address any major obstacles and guide more customers through the shopping process in an easy and organic way.
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