www.digizuite.com Open in urlscan Pro
198.49.23.145  Public Scan

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27 OMNICHANNEL STATISTICS EVERY ENTERPRISE NEEDS TO KNOW FOR 2023

How DAM supports omnichannel experiences
January 5, 2023
Written By Charlotte Blicher

Did you know that, on average, companies with omnichannel customer engagement
strategies retain 89% of their customers?

Compared to a 33% customer retention rate for companies with weak omnichannel
strategies.



Whilst the idea of an omnichannel strategy may have been a 'nice to have' in the
past, the covid pandemic forced brands to acknowledge their omnichannel
strategies or risk losing out to the competition.

This is because consumers went online, and the brands that succeeded the most
were the ones who engaged their customers online and provided the best
omnichannel experience.


WHY SHOULD BRANDS INVEST IN OMNICHANNEL?

Before the covid pandemic, customers were shopping across multiple channels and
devices.

More and more were searching online and then proceeding to the store to
purchase.

Research collected by Think With Google indicated that omnichannel strategies
help generate around 80% of the in-store visits by customers. Furthermore, as
much as 74% of customers do online research before actually visiting a physical
store.

Even customer orders made online and collected at stores grew 208% during the
pandemic. That's because 67% of shoppers now expect to purchase online and then
proceed to pick it up from the store.



Alternatively, customers may be at a physical shop, select an item they like but
there is not the correct size, dimensions, or color, and then pull out a smart
device to check online for it and buy it there. 77% of shoppers who use their
smartphones for inventory research within a shop state that it has become an
essential part of the experience.

It's evident then that an essential aspect of omnichannel is that each channel
is interconnected to provide a consistent brand experience and connected
purchase journey.

For instance, data from RetailMeNot concluded that 69% of consumers had used
their mobile devices to check products at home, with 53% having used their
smartphones to check reviews before chatting to a store employee.

In omnichannel marketing, a brand will use several channels to reach a customer,
but each touchpoint is managed separately with a different strategy.

A customer-first omnichannel marketing strategy is centered around the customer
and ensures that customers can quickly and effortlessly switch between each
brand touchpoint to make a purchase.

Brands with a top omnichannel customer engagement see a 9.5% yearly increase in
annual revenue, compared to 3.4% for poor omnichannel brand strategies.

Furthermore, according to research, solid omnichannel brands witness a 7.5%
yearly decrease in cost per contact.

And yet, only 11% of organizations claim to have a sophisticated omnichannel
implementation.




OMNICHANNEL STRATEGIES DRIVE REVENUE GROWTH

Fifteen years ago, the average consumer typically used only a couple of digital
touchpoints when purchasing a product, and only 7% used more than four. Today
customers use an average of almost six touchpoints, with 50% regularly using
more than four.

For instance, U.S. retailer Target enjoyed its best quarterly results in 2020,
with its sales increasing by 24.3% and digital sales soaring by 195%!

It won market share from all its physical competitor's thanks to the integration
of physical and digital – the omnichannel.

Target discovered that multichannel customers spend 4 times as much as in-store
customers and 10 times more than digital-only customers. Through that quarterly
period, their stores fulfilled more than three-quarters of their online sales.

Marketers have learned that using three or more channels in any campaign can
earn a 287% higher purchase rate than using a single-channel campaign. Moreover,
customer purchase frequency is 250% higher on omnichannel than on a single
channel, and even the size of average orders increased by 13%.



Even more interesting is that omnichannel consumers have a 30% higher lifetime
value to brands than those who purchase using only one channel.


THE SHIFT FROM SINGLE CHANNEL TO OMNICHANNEL

Modern customers want to shop most conveniently, they are unwilling to accept
anything less than the best interactions with a brand.

Nevertheless, their needs are increasingly not being met on their terms. It is
time for brands to make the leap to meet consumer expectations better and engage
them across every touchpoint, both physical and digital.

Recent research revealed that two-thirds of customers are not likely to buy from
a brand that does not offer an integrated omnichannel experience.

Moreover, 59% said they would buy from a competitor offering a better shopping
experience.

> Today's consumers want to be valued across every interaction with a brand. For
instance, 98% of Americans switch between devices on the same day and expect the
same experience from the brand each time.

> Consumers expect the same expertise and service across every channel — and
they will not hesitate to shop elsewhere if they feel like they do not matter
enough. 27% of customers would leave and visit another brand's store if an item
is out of stock, with 21% stating they would instead purchase online from
different competitors, and 21% would hold off buying the product.

All of this adds up:

While omnichannel customers represent only 7% of all customers, they generate
27% of all sales!



And it is not only marketers who must deliver an omnichannel strategy.

Customer service and sales reps are also as important to consumers with their
interactions.

Over 35% of customers expect to contact the same customer service representative
through any channel. In comparison, 45% of shoppers in-store expect sales
associates to be knowledgeable about online-only products.

So it is time for brands to consider potential customers as their customers —
not only in-store or online, but as customers all the time, everywhere they are.


THE YEAR OMNICHANNEL MARKETING GOES MAINSTREAM

Omnichannel branding is here to stay, and customers are increasingly opting to
shop with retailers that offer interchangeable shopping experiences across
different media.

With today's enterprise tools and technology, enterprises of all sizes can
implement omnichannel strategies in their businesses.

An omnichannel strategy aims to optimize the customer journey, understanding
their habits, behavior and interests, and the content they consume.

Plus, brands with a strong omnichannel presence can store customer data across
channels, representing a treasure trove of data that brands can use to
facilitate better customer experiences.

Brands must create marketing content customers demand and deliver it to them in
a format, channel, and on any device they prefer, creating consistent global
messaging.


LEVERAGING DAM TECHNOLOGY FOR OMNICHANNEL SUCCESS

So far, so good.

Except that 64% of marketers cite a lack of resources as their top barrier to
omnichannel marketing. It's why enterprises invest in DAM software to ensure
every marketer has the tools, resources, and means to create a superior
omnichannel strategy.

A DAM platform ties it all together and gives brands the benefits shared drives
fail to deliver.

A DAM controls all brand content from one place. With all users having access to
a single source, it has never been easier for content to be delivered on all
channels simultaneously.

By using DAM technology and the available functionalities, brands can automate
marketing processes and take an omnichannel approach to the next level. It
becomes easier for businesses, but best of all, it benefits your customers, too.



Want to learn more about how Digizuite can deliver a better omnichannel
experience to your customers? Book a call with us today



 * Resources you’ll love:
   
   * How To Create A Successful (And Powerful) Omnichannel Experience
   
   * How To Create A Customer-First Omnichannel Marketing Strategy
   
   * How Enterprises Are Meeting The Demands Of Omnichannel Buyers
   
   * How DAM Enables Powerful Omnichannel Retail Experiences
   
   * 4 Ways To Solve Your Omnichannel Marketing Challenges With DAM




Omnichannel strategyBrand Management
Charlotte Blicher

Charlotte Blicher

Charlotte Blicher has run global marketing teams and with her background in
martech, she advises customers on their journey to omnichannel success and how
they can operate more efficiently to meet increasing customer expectations for
personalized experiences across channels.   

Follow Charlotte on LinkedIn


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