To stand out in a hyper volatile retail space, only a few companies are ready to adjust and capture customers at their point of shopping, online or through mobile devices, and sometimes in physical stores too. A single-channel approach cannot meet the modern consumer’s personal and cohesive expectations that are moving into multiple channels. This is where the omnichannel loyalty strategy really takes shape and creates seamless, rewarding experiences for the customer regardless of their preference for how they want to shop.
This post will cover the general importance of omnichannel loyalty strategies in retail.
Understanding Omnichannel Loyalty
Omnichannel loyalty is executed in order to incorporate all touch points at which the contact with customers happens, so that everyone involved enjoys a seamless and connected experience. Unlike the multichannel loyalty programs, in which the engagement model could vary for online and in-store purchases, omnichannel loyalty experiences are inter-linked. For instance, a customer may browse products on his cellphone, add them to his cart from his desktop, and finally close a sale in the physical store-all through a single unified system for rewards.
What are the Benefits of Omnichannel Loyalty for Retailers
Loyalty strategies in omnichannel generally allow the consumer to feel the same experience at each point of contact. This leads to better engagement to the brand at the emotional level, which leads to repeat purchases and loyalty.
For example, a customer might browse products on their phone, add them to their cart from a desktop, and complete the purchase in a physical store—all through a single, unified rewards system.
Personalized Shopping Experiences
With omnichannel loyalty programs, retailers use data from multiple channels to personalize a wide variety of shopping experiences. For instance, an online shopper who frequently buys online is offered tailored offers while he is shopping in-store. Based on information from all channels, retailers can more effectively predict what customers want and prefer.
Better Customer Retention
Omnichannel loyalty programs ensure that consumers remain loyal to a particular brand. An omnichannel approach means that their rewards, preference, and engagement will be consistent no matter how they interact with the brand, improving retention and lowering the probability that customers will switch to competitor brands offering a more integrated channel.
Valuable Data Insights
Multiple touchpoints integration allows retailers to keep tab on a lot of information about customers’ behavior and trends. A retailer would be in a position to improve their marketing strategy, come up with a new product, or design a new shopping experience as appropriate.
Challenges in Implementing Omnichannel Loyalty
The benefits of omnichannel loyalty are self-evident, but execution often creates problems. Technology and costs add up fast when trying to combine multiple touchpoints—online stores, mobile apps, in-store systems, and social media. In addition, every channel needs to capture and update customer data in real time for a fully seamless experience.
Another challenge is maintaining a form of communication consistently. Retailers will have to ensure that the message, rewards, and even promotions are not confusingly different from one channel to another. Training staff is a very effective way to maximize the effect of an omnichannel strategy, beginning with employees working in the physical stores. Omnichannel loyalty programs lose their impact if they can’t render the same effect at every touchpoint.
How should Retailers Implement an Omnichannel Loyalty Strategy?
To make the most of omnichannel loyalty program, retailers must keep a few important points in mind. Let’s find out.
Invest in Technology
Good technology can simplify the complexity of omnichannel interactions. A robust loyalty management platform enables the integration of POS with online and mobile platforms, sophisticated data analytics, and seamless payment and redemption option for rewards across channels.
Focus on Personalization
Leverage data from all touchpoints to serve personalized offers and promotions. Personalization strengthens customer relationships and keeps them loyalty to your brand.
Reward Integration Across Channels
Allow customers to earn and redeem points across all channels. Rewards for using multiple channels could further strengthen their engagement.
Focus on Instant Gratification
Customers want everything in real time. Design an omnichannel loyalty program that is well-integrated with all the platforms and allows customers to redeem their points in real time.
Employee Training to Maintain Consistency
Your staff must be well-informed regarding the omnichannel loyalty program and trained to maintain consistent service and communication.
In a Nutshell
Seamless shopping experiences are critical in a competitive retail environment. Through omnichannel loyalty strategies, seamless engagements can be facilitated between all channels for retail businesses to enhance engagement, retain customers, and deliver personalized and flexible shopping experiences demanded by modern consumers. As such, with the evolution of the retail landscape, investing in omnichannel loyalty is no longer beneficial but outright necessary for business success.
Novus loyalty is a leading loyalty management solution offering reliable omnichannel loyalty strategy and solutions to retailers. If you are just starting with omnichannel loyalty for your business, you must work with experts to ditch the common roadblocks and achieve the best results.
