Article | July 26, 2021
Companies with robust omnichannel customer engagement see a 9.5% year-over-year increase in annual revenue and see a 7.5% year-over-year decrease in cost per contact. Consumers are extremely comfortable and contented with omnichannel shopping. More than 89% of customers are engaged with omnichannel and the number has been increasing gradually. As a result, omnichannel marketing has become one of the vital components of advertising.
Maintaining quality at reasonable prices is no longer the only aspect of a customer’s purchasing decision. Brands need to be present on all the platforms where there is a target audience.To put the consumer on priority in your strategy, you must foster optimistic, persistent, and unified experiences at every touch point along the customer’s journey.
Let’s examine every aspect of omnichannel marketing to understand its significance in your business and utilize it to create an exceptional experience for your consumer and maximize your ROI.
What is Omnichannel Marketing?
Omnichannel marketing is a holistic approach towards the target audience by creating a brand’s presence across multiple online and offline channels. One of the most important aspects of omnichannel is that each channel is interconnected to deliver a seamless experience and connected purchase journey. Its objective is to produce superior, first-class connections that drive your customers to take action. It’s about meeting your clientele, no matter where they are or where they go, with a consistent brand identity, message, and all-around experience.
A survey conducted by Harvard Business took 14 months to analyze consumers’ shopping behavior wherein they interviewed approximately 46,000 purchasers. They found 7% of the customers were only online shoppers and 20% of them were store-only shoppers. 73% of them used multiple channels throughout their shopping journey.
The survey found that the more channels the consumers utilize, the more valuable they proved to the retailers. For instance, the study revealed that the consumers who use more than four channels spent 9% more in the store than those who used a single channel. Due to this, the retailers had to reconsider their customer journeys and discover new ways to acquire, engage, and retain customers through positive experiences across multiple touch points.
With new marketing channels emerging, omnichannel has become the need of the hour for marketers and shift their focus from traditional marketing to omnichannel marketing strategies.
Omnichannel vs. Multichannel and Cross-channel- Differences
Marketers utilize these marketing channels interchangeably. After all, they seem to mean the same thing - using multiple channels to acquire, engage and retain your customers. But, there is a slight difference among all of them. So, let’s understand the differences.
Omnichannel marketing is a tactical approach to create your brand’s presence across various online and offline channels. These communication channels are connected, consistent, and interactive, which makes the customer journey easier on all devices.
In omnichannel marketing, the messages are consumer-centric that are created to convey personalized and one-on-one communication. And this unique quality attracts the customers to buy products or services. Omnichannel marketing has superseded multichannel and cross-channel in the last few years.
Multichannel marketing is an amalgamation of multichannel online and offline to get in touch with customers and put products and services at the right place and at the right time. However, these channels aren’t connected — they function in isolation and there is no exchange between them. The goal of multichannel marketing is to grow the reach and connect with the audience wherever possible. It is company-centric which delivers different messages on different channels.
Cross-channel marketing refers to customer-focused digital marketing techniques used by marketers globally to provide their customers with a consistent experience when interacting with their brand across multiple digital channels. Cross-channel marketing is sometimes customer-centric or company-centric depending on the requirements.
Marketers using three or more channels in any one campaign earned a 287% higher purchase rate than those using a single-channel campaign.
Customer retention rates are 90% higher for omnichannel vs. single channel.
98% of Americans switch between devices on the same day.
Omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel.
Omnichannel strategies drive an 80% higher rate of incremental store visits.
Businesses that adopt omnichannel strategies see 91% higher year-over-year customer retention rates compared to businesses that don’t.
Some 73% of consumers shop on more than one channel.
Almost 90% of retail leaders agree that a seamless omnichannel strategy is critical to business success.
70% of internet users buy clothing and footwear online, making clothing and footwear the most purchased item online.
By 2023, the global omnichannel retail commerce market is projected to grow to US$11.01 billion.
Companies with strong omnichannel customer engagement will see a 9.5% rise in annual revenue.
60% of millennials expect brands to provide consistent experiences across multiple channels.
Creating a cohesive customer journey across different channels is important to 86% of senior-level marketers.
Omnichannel campaigns produce a 250% higher rate of purchase frequency than do single-channel campaigns.
80% of consumers say they are more likely to do business with a company if it offers personalized experiences.
Challenges While Implementing Omnichannel Marketing Strategy
Lack of Effective Content Strategy
Content is the valuable, essential, and utmost important factor for omnichannel. A well-analyzed and creative content strategy can ensure your campaign success. Your target audience uses various channels such as social media, mobile apps, websites, etc., to interact with your brand. Therefore, you have to be extra careful while delivering messages. The quality content consists of top-notch quality, relevant information, sophisticated language, and avoid an embarrassing mistake in grammar.
Improper Utilization of User Data
When users interact with a brand, they leave data such as contact numbers, email ids, addresses, etc. However, brands don’t store or utilize it properly. According to Neustar, 60% of this data is outdated within two years. 37% of the people in the US alone change their contact details within a year, making your data obsolete. Brands need to contain the information in a unified system that they received from users to be utilized by the sales and marketing teams to deliver relevant offers to users.
A survey conducted by Yes Lifecycle Marketing says that two-thirds of marketing administrative at large companies found it challenging to coordinate campaigns across various channels. The study blames silos and organizational structure as one of the primary reasons for failure in implementation. If you want to make your omnichannel marketing strategy efficacious and profitable, you need to understand your customers’ requirements and plan accordingly. Placing your customer at the center of your strategy, leverage technology, putting relevant information, understanding buyer’s journey, providing vouchers, offers,a flaw-less content and systematic approach make your omnichannel marketing strategy result-driven.
Lack of KPIs Measurement
Four stages of a buyer’s journey- awareness, engagement, conversion, and delight are much more valuable and play acrucial role in marketers’ lives. Marketers have to ensure that the entire journey delivers a constant experience to the buyer. While marketers measure the campaign’s overall effectiveness, they fail to measure the KPIs at every stage of the buyer’s journey. This averts the marketer from deriving meaningful insights about each stage of the journey posing a challenge in improving the experience for the customer. Marketers need to evaluate the campaign at every stage instead of evaluating the results for the entire campaign.
Create an Incredible Omnichannel Marketing Strategy
You can make your omnichannel marketing strategy unparalleled, persuasive, and goal-oriented by just following these substantial steps.
Know Your Customer Better
Before executing your marketing plan, you must be aware of your target audience. Who they are? What are theirs need, their age, demographics, etc? Only then will you be able to design relevant campaigns for your customers. It doesn’t matter if you reach your target audience online or offline — it’s vital to express the unique value proposition (UVP) you provide. In addition, your UVP must be tied to a solution to their problem.
Do you want your target audience to visit your website and experience your product or service? If so, you must create an omnichannel experience that shows your expertise in your field. You need to maintain the quality of the content you are delivering your audience whether it is video, gifs, or other content forms. It should be pertinent, valuable, and easily understandable.
Evaluate Each Channel
In omnichannel, it is essential to analyze each channel’s performance. It helps to understand your marketing approach in a better way. You need to find how many channels are performing well and eliminate the channel that does not respond to your business objectives.
Put the Customer at the Centre
Undoubtedly, your objective is to sell your product or service, but your customer should be your utmost priority. You need to discover a way where you can enhance the engagement of your customers with your brand. Creating interesting puzzles, asking advisory questions, sharing fun facts, etc., shows that you are involving your target audience and giving them a value that helps build your brand.
Woo the Audience with Offers
Most marketers introduce vouchers or some interesting offers to woo the customers. For instance, you can create a campaign where you can ask some interesting questions and provide a reward. This tactic initially helps your brand to gain a maximum audience. Once you have most visitors to your website or other channels, it becomes easy to hold on to audiences.
Significant Omnichannel Trends in 2021
There are many significant channels that can help you to scale your business. Here is the list of some prominent channels.
Social Media (Facebook, Instagram, Twitter, Youtube, etc.)
Some marketers might question whether omnichannel marketing is worth it or not. Well, thorough researched data, relevant and valuable information, important marketing channels, and knowing your customers’ requirements are the key factors that make your omnichannel marketing strategy influential. It helps in every aspect. Appropriately implemented omnichannel marketing boosts your sales and conversions, builds robust connections with your customers, and enhances your brand affinity. This omnichannel marketing guide will help you to find concise and comprehensive information.
Frequently Asked Questions
What is omnichannel marketing?
Omnichannel marketing is a holistic approach towards the target audience by creating brand presence across multiple online and offline channels.
Why is omnichannel marketing important?
Omnichannel marketing superseded other marketing strategies to boost sales and conversion, build strong connections with customers, and provide high ROI. Read the above omnichannel marketing guide to understand its importance.
What tools are needed for effective omnichannel marketing?
Artificial intelligence, augmented reality, social media integration, e-commerce website, secures payment gateways are valuable tools to make omnichannel more effective and result-driven.
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"text": "Omnichannel marketing superseded other marketing strategies to boost sales and conversion, build strong connections with customers, and provide high ROI. Read the above omnichannel marketing guide to understand its importance."
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"text": "Artificial intelligence, augmented reality, social media integration, e-commerce website, secures payment gateways are valuable tools to make omnichannel more effective and result-driven."
Article | July 26, 2021
Waters are extremely rough in the wake of the current pandemic. This has had an immediate and substantial influence on purchasing behaviors. A company that was in the market for your solution only a few months ago could now be struggling to merely survive. ABM is more important than ever before in this post-apocalyptic COVID-19 world. Everyone is hypersensitive to overt sales messages, so every single interaction matters. You must be careful about the accounts you’re selling to, the message you lead with, and the way in which you sell (i.e. everything that ABM stands for).
Article | July 26, 2021
We have always been familiar with various video conferencing platforms but the current situation of COVID-19 has put them at the top of everyone’s routine. Never before have video calling platforms been in so much demand. The current lockdown imposition in the world has forced all possible industries to give their employees work from home by default not by choice, and asked to contribute to stopping the spread of the Coronavirus disease.
A rare situation like this has caused the world to go online for important meetings, conferences, learning activities, and every other important work. During this time many companies have seen a spurt in growth and Silicon valley-based communication technology company—Zoom is one of them. The video communication software company has seen a growth in its user base from 10 million to 200 million daily visitors and has been recognized as the top choice from satisfied customer reviews on TrustRadius, Gartner, and G2.
With big customers in the pocket like Uber, Delta, HubSpot, Zapier, etc. the company has earned power when other companies started their businesses based on Zoom which is running quite successfully. Many businesses started building their services or products on Facebook, Slack, Twitter, Instagram, etc. and now Zoom is the latest hotspot around which new businesses are popping up. Let’s have a look at the newly started businesses based on the web conferencing software and how they have made use of Zoom features.
Table of Contents
Founded in 2018, San Francisco based Grain might be the first business to build entirely around Zoom, at least as a starting point. Let’s understand the core idea of the business.
According to co-founder and CEO, Mike Adams, the key idea is to extract and save the important content in Zoom calls. Further, the best part of the conversation can be shared across various platforms like Slack, Notion, Discord, Twitter, or even iMessages.
Suppose a student is attending a Zoom class and wants to take the notes for later use. This has been made simple using Grain. Without needing to watch the full lecture again a student can save or record the important part of what a teacher is teaching in the virtual class that he or she can share with other students.
There are many ways to save an important part of the video using Grain. You can convert the whole video call into the transcript and then pick up the part you want to share. This will automatically create a unique URL for the separate part of the video that you can share across various platforms.
You can save and share the highlighted notes that you can create alongside the call. Here you are given a facility to take notes during the call in a column that is provided by Grain and save or share it later on.
Similarly, Grain can be used for the office purpose where you can flag the most important bit of information from the meeting and share those clips with your colleagues to understand the complex or prime things in the call.
The limit is given to save and share the video clips ranges from 30 seconds to 10 minutes. You can also create sections of the best parts of the video to create a summary highlight and this has no time limit. You are also given control over who can edit the video later to avoid the illegal activity and stop manipulating the snippet.
Founded by two young and talented minds from MIT, Fireflies.ai is doing an excellent work of helping people manage their tasks using AI-based technology.
While there are so many things to do on the list, one can simply not waste time going through the past calls or chats to note down an important part of work. That’s where Fireflies.ai comes to help you.
It helps you save critical information that is being said and you won’t miss anything even after leaving the meeting room. And to do so, all you have to do is integrate Fireflies’ AI assistant by inviting it to the Zoom meeting. As soon as the meeting starts, it captures every moment by recording the call and sends you the transcript over your email once the meeting is over. It makes use of NLP (Natural Language Processing) algorithms to transcribe the audio call into the text format. Along with these features, it can integrate with dozens of apps like Salesforce, Slack, Zoho, Zapier, etc. They also have a Chrome extension for Google calendar that makes it easy to invite the AI assistant to the scheduled meeting.
This is how Fireflies.ai helps improve and accelerate the productivity gained from the Zoom meetings and unlock the hidden value in the voice data. It makes it easy to take quick notes with the help of high-quality recording while you pay attention to the live meeting.
The San Francisco based business is running quite smoothly and raised a fund of $5M in December 2019 from Canaan Partners.
Stream is a privately held, San Francisco based small company which started its business based on Zoom. It helps people host online events quickly especially the paid ones. It is not restricted to be used by office working professionals but can also be used by musicians, fitness instructors, content creators, private tutors, etc. and allows turning every physical event into a virtual event.
We use Zoom because it's what my 65-year-old aunt is familiar with. It's the tool of the moment. It is helpful to build a powerful, easy-to-use API. I'm surprised a lot of other developers haven't used it yet you can do a whole bunch of different things that you probably wouldn't think of.
Lan Paje, Co-founder and CEO, Stream
According to Stream, you can create a website to promote your virtual event and make money with tip donations or by charging people for entry to the event. This is the easiest way for event organizers to live-stream the event with just one click. The company is still taking baby steps and growing quite well.
The issue that Stream facing right now is uninvited guest appearances to the live events. According to the company, Zoom is lacking a security solution and preventing Zoombombers.
Otter is again a silicon valley based startup by a team of industry veterans who have working experience of development and technology in mobile, search, speech, and data analytics in leading technology companies.
Otter.ai offers a real-time voice transcript of conversations in a meeting. During the COVID-19 pandemic, the company has seen growth in its customer base and launched some new features. Earlier users would get the transcription after an hour or two after the meeting is wrapped. But with the recent partnership with Zoom, it offers real-time transcription and recording of a live video conference. The feature is available on the Zoom app and can be used on desktop or mobiles.
Once the meeting is wrapped, you can refer back to the transcript and highlight the important part of the long conversation. Additionally, you can also add comments and photos to meeting notes.
It offers security to group conversations giving each user a separate user ID and then group members can also highlight edit, and share notes with others. The software is usable for work, schools, and daily life.
With Otter.ai, transcription as long as 600 minutes is offered for free. It also offers paid plans with additional features that help to make your meetings more reliable.
Otter usage has been increased 5X with Zoom meeting over a few weeks of April and the company has observed new more sign-ups of students and employees working from home. Addressing increased use of generating rich notes with Otter’s AI-powered assistant, Sam Liang conveys the importance of Otter where everyone can search, play, edit, and share conversations on all devices.
Virtual meetings have skyrocketed during the COVID-19 outbreak as organizations recognize that high-quality voice meeting notes are a critical tool for employee productivity when collaborating within an office or in any virtual meeting.
Sam Liang, CEO, Otter.ai
By April 2020, Otter has transcribed more than 25 million meetings and has raised $23 million in funding from NTT DOCOMO, GGV Capital, Slow Ventures, Horizon Ventures, and others.
It seems Zoom is changing how remote working employees communicate and in the future, it might become a strong business tool. Growth of the video conferencing application pointing to more businesses built based on it. Isn’t that a way to go?
Article | July 26, 2021
Creating a persuasive and impactful whitepaper is a dexterous job. Eminent marketers believe that whitepaper is a powerful medium to enhance brand credibility and recognition by providing holistic and valuable information to its customer or target audience. Moreover, it can easily influence its audience by assisting them in meeting their expectations.
One of the renowned authors and journalists, William Wheeler, said, “Good writing is clear thinking made visible.”
A whitepaper is a detailed guide that consists of value-added information, persuasive approach, statistics, research, infographics, etc. It is a long-form piece of content that educates its readers with its authoritative tone. The whitepaper is highly advantageous in B2B marketing
Let’s take a look at some of the most prominent ways to create informative and augmented whitepaper.
Value of Whitepaper in B2B
Renowned B2B market analysts utilize whitepaper as a lead generation asset. It presents your company as a thought leader and enhances lead generations. There are different types of tools that can help in creating an attractive and magisterial whitepaper.
What Makes a Whitepaper Value-added & Persuasive
Certain practices are essential to creating a whitepaper. You can generate excellent whitepaper by learning these tips. But, first, let’s delve into how to make a result-driven and productive whitepaper.
Research is the initial and utmost important step of creating a whitepaper. Once you choose your topic to write about, you need thorough information about the same. You can find different valuable information from blogs, articles, statistics, etc. It helps in understanding various perspectives, styles, and objectives of the writing. It also diminishes the risk of being ignored.
Choose a Relevant Topic
Choosing a relevant topic is an essential step. It makes your approach easy and productive. First, try to find the relevant topic your target audience will want to read. You should have a clear picture of what appeals to them and can enhance their engagement.
People have an inclination towards statistics once it comes to creating a whitepaper. Statistics have the power to influence, and convince them to know more about your brand and buy your products. Marketers use appropriate statistics as social proof. It increases the credibility of the whitepaper.
According to the Content Marketing Institute report, approximately 92% of content marketers consider content as a business asset. The audience expects top-notch quality, engaging and relevant content. You can enhance the quality of the content by using subtle and jargon-free language, mentioning statistics with sources, keeping an eye on punctuation, and presenting useful information.
Infographics are visual. Your target audience can easily understand it. It takes less time to consume. Marketers use it to generate more leads and enhance traffic. With the help of infographics, you can grab your audience’s attention as it provides valuable information faster than other formats of content. It helps in search marketing results and makes your content go viral.
Alluring designs in terms of headings, subheadings, quotes, infographics, templates, etc., compel the reader to read your whitepaper and know more about your brand. Minimalistic designs enhance your presentation of whitepaper and make it incredible. Make sure that the text is readable. Magnificient designs play a crucial role in making whitepaper. It boosts brand recognition.
Editing, Editing, and Editing
After taking all the necessary steps for creating a whitepaper, you need to re-read it. It is said that editing eliminates all the extra content from your whitepaper. If you read it repeatedly, you can give systematic and proper flow to your whitepaper. With the help of editing, you can rectify your punctuation, grammar, sentence structure, word order mistakes.
Evaluate Your Performance
Once you are done with your whitepaper, the essential task is to evaluate your performance. Try to gather all the reviews, comments, and queries to understand where you are lacking and improve it accordingly. Then, you can share those whitepapers with industry experts and take their views.
Experts, market analysts, and prominent businesses take advantage of whitepapers. A whitepaper is considered one of the most valuable, informative, and prolific ways of marketing. It can attract the audience and enhance their engagement by providing them information. It also generates more leads and makes you stand out from other competitors.
To create such augmented, productive, and exceptional whitepaper, follow the above tips. These tips will help in generating alluring whitepaper and reaching innumerable business outcomes.
Frequently Asked Questions
What makes a whitepaper unique?
Minimalistic designs, relevant information, jargon-free content, statistics, informative and narrative writing make a whitepaper unique and establish hit as a thought leader.
What should be taken care of while creating a whitepaper?
The essential factor is maintaining quality, keeping a systematic approach, avoiding grammatical mistakes, using statistics with sources, and keeping relevant information that appeals to your audience.
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"text": "Minimalistic designs, relevant information, jargon-free content, statistics, informative and narrative writing make a white paper unique and establish hit as a thought leader."
"name": "What should be taken care of while creating a whitepaper?",
"text": "The essential factor is maintaining quality, keeping a systematic approach, avoiding grammatical mistakes, using statistics with sources, and keeping relevant information that appeals to your audience."