E-commerce has relied on channels to reach their customers and provide them with a convenient shopping experience. Being in the industry, an entrepreneur has likely come or will come into cross with the “Omni channel” and “Multichannel” terms.
These keywords spark the e-commerce retail industry for years, yet it is still surprising as to how many businesses are unfamiliar with the differences between the two. Coming into this article, we’re sure you’re looking for an understanding of how the two are different.
This article aims to give you the answer as fast yet as comprehensive as possible.
Let’s start with how our eyes interpret it.
What is Multichannel?
If you look at the image above, a business has different outlets where a customer can reach out. Most businesses perform Multichannel nowadays by having a website, a phone, a social media page, and other means of communication to make them as accessible as possible.
What is Omni channel?
Now compare Multichannel to Omni channel. You may notice that the images circle and envelop the customer in the middle of it. Basically, “all the channels revolve” around the customer. Omni channel is about creating a seamless and unified experience for the customer towards your brand. That includes your marketing too.
“I.. Don’t Get It.”
That’s okay! There is a delicate balance that must be understood here, and we think it’s best to explain it by an example.
Imagine that you are a customer who saw an advertisement on your Social Media regarding a certain coffee shop that offers a good discount voucher, and it’s nearby.
You head over to the coffee shop and actually enjoy the environment and your drink. A good experience, definitely can make it to your go-to list.
Then, you get an SMS message that invites over with more coupons for discounts and other purchases!
Then you saw on Facebook that they give out planners for free after a certain number of drinks purchased.
You are now a regular Starbucks customer!
So if you think about it, it’s completely different from having a customer have all sorts of ways to reach your company.
Look at Omnichannel and channel management as a unique opportunity to make your brand an adventure to your customers.
How is this for me?
If you’re a business that offers B2C products, which is most of what e-commerce companies do, then you can definitely capitalize on this concept!
You just have to be creative.
However, we don’t want to be too vague. So, here’s a checklist that might help you with your decision:
- Do you have the funds for IT development?
- Do you have good volume
- Can you sustain the discount journey
- Can you “up-sell” some items in your inventory
The Investment for IT Development
If you’re into retail, then you likely already have a system in place for your sales and inventory management. Not beating around the bush, it’s a complex process. Most of the stakeholders wouldn’t have the time nor the willingness to study all these.
Luckily, there are e-commerce partners that provide refined systems that assist your company and your brand from channel management all the way to delivering your products to your customers’ doorstep.
Do you have good volume?
Not only do you need good inflow and outflow, you would need to figure out how an Omnichannel approach would affect the overall flow of products and finances. There are already a lot of moving pieces, this will add some more.
Can you sustain it?
To invite customers over your “journey”, you would need to make it worth their time and make them feel special. Nothing says special like a customized approach and discounts to come along with it.
People nowadays want relevant and timely messaging.
When they search for a product like yours, they will be hit by ads by you (and your competitors). How can you feasibly make this experience different?
Can you “up-sell” some items in your inventory?
Following up on sustaining your move, a great way that will help is upselling “accessories” to the products already sold.
A concrete example of this process would be the bed (item 1) and blankets (item 2) that the company highlighted by this Shopify Article gives a perfect example of this upselling process.
The principle is sell them something that would go great with the thing you just sold.
Is this really a good move towards the future?
Applying Omnichannel is definitely a challenge and is yet to be for everyone. As in business, this is a risk that even the daring would think to invest in.
However, we are in evolving times. Consumers prefer seamless service, and it would be a good idea for retailers to start investing in an omni-channel approach.
Nonetheless, E-commerce will slowly gravitate towards Omnichannel as it is always about providing consumers with that experience.
If you’re hesitant about the investment and the technicalities that a move like this would entail, then why not find a partner like Kyndle! Kyndle is an all-in-one e-commerce enabler in Singapore that helps businesses manage online sales channels, storage, and delivery Locally and Internationally.
Channel Management with Kyndle
Selling on multiple channels is already a requirement nowadays to reach your customer, now take the next step with Kyndle!
Kyndle is an all-in-one e-commerce solution that provides Channel Management where you not only have the convenience of having your e-commerce platforms centralized, but will also give you the opportunity to unlock new ways on how you can approach your customers!