Omnichannel Digital Strategy with B2C CRM Solutions
There is a massive change in the way digital activities are being conducted right now. From how sellers advertise their products and services to how consumers browse for product options on the internet, the way businesses are conducted today has tremendously transformed.
Back when the internet was booming and people were still learning the platform, internet commerce was still slow, inefficient, and unoptimized. But today, businesses are learning how to set themselves apart from their competitors.
Services like SEO optimization are starting to gain traction. Traditional, brick and mortar stores have started selling products online. Now, companies are continuously looking for ways to interact with potential and existing customers and keep them engaged to boost their sales and gain greater market share.
Internet commerce has been so successful that retail eCommerce sales alone have reached US$3.53 trillion in 2019, according to Statista. By 2022, e-retail revenues are projected to grow to US$6.54 trillion.
This year, the internet commerce landscape is projected to undergo some significant changes. Omnichannel digital payments and processing trends have changed the way businesses interact with their clients.
In fact, having an omnichannel strategy can improve the customer retention of a business by 91%, according to a survey conducted by Aspect Software.
Adopting an omnichannel strategy
Omnichannel is the integration and orchestration of the communication channels of a business to improve customers’ experiences across points of contact. It includes traditional and digital channels for a unified, enhanced experience for your customers.
Omnichannel digital payments are not to be confused with multichannel payments.
While the latter deals with providing customers several ways to pay (e.g. website, mobile, social media, etc.), omnichannel digital payments and processing are about fusing all of these and using them to create a unified, integrated shopping experience for the customer. This spans from the discovery of your brand to the actual purchase of a product or service.
For example, when a customer enters your store, signs up for a membership card, and leaves his contact details, the said customer will get updates via SMS and email about products that may interest him after making a purchase using the membership card.
The said customer may also be encouraged to make online purchases using the membership ID, by giving him/her additional points. This will encourage purchase behavior and help you amass actionable data based on your customer’s recent transactions so you can personalize your service the next time the customer makes a purchase.
The omnichannel experience helps businesses stay connected with their customers. Today, it has become a common experience that consumers expect the same purchase experience across all channels. This has become an opportunity for businesses.
According to a study conducted by Google, omnichannel shoppers have a 30% higher lifetime value compared to those who shop using a single channel. Another study also found out that omnichannel shoppers spend 50%-300% more than shoppers who use a single channel.
Elements of an omnichannel experience
The omnichannel strategy has several key elements: you must have a powerful CRM system that is PCI compliant, your strategy must be customer-centric, you must have shopping carts across all your channels, multiple payment options, and data on the buyer’s journey.
The core of an effective omnichannel strategy is a CRM system that can gather data and intelligence from your buyers’ behaviors. The data will provide actionable insights that can help you make strategic decisions in the future.
It can also help you identify and remove any element in your sales and marketing strategy that slows down your delivery process and contributes to the customer churn.
Overall, CRM systems like Saphyte, Salesforce, and Hubspot enhance your omnichannel strategy and help boost your customer retention rate and sales revenue.
Why a B2C business needs Omnichannel Marketing
Business-to-consumer (B2C) businesses rely on customers to make a profit. So it only makes sense to ensure that every interaction between the business and the customer creates a mutually beneficial effect on both parties.
Omnichannel marketing has been proven to contribute to a 30% higher lifetime value for customers. They also spend more than shoppers who only access a single channel. Hence, omnichannel marketing makes customers “more loyal” which means they are more likely to stay longer.
Staying longer means more chances of them buying from you again (repeat purchases) and recommending your products and services to their friends and family. These results in higher sales and profitability for your business.
Spending more also means that when it comes to sales volume and sales worth, omnichannel shoppers are superior. That means B2C businesses will gain more if they focus on these shoppers. Remember the Pareto principle, where a business can gain 80% of its sales from only 20% of its customers.
Using B2C CRM solutions
B2C CRM solutions are made to allow businesses to meet the demands and needs of their customers and be able to guarantee customer satisfaction.
They use a CRM software that serves as a contact management tool that gathers customer data and information from the business’s marketing channels and organizes this data to make it actionable.
CRM means customer relationship management. This means that CRMs are designed to allow users to manage their relationships with their customers in the most efficient way possible.
B2C CRMs, compared to B2B CRM, are built with tools that can accommodate hundreds of thousands of data, if not more, to ensure that their users can implement their customer acquisition strategies smoothly using the system. They also allow sales teams to track and monitor customer interactions in real-time, and reshape the way companies sell nowadays.
Use Saphyte to Implement Your Omnichannel Marketing Strategy
Saphyte is a cloud-based B2C CRM that is made for businesses to get more leads and convert them into customers. Our support team will teach and demonstrate to you for free how to use the software so you can implement your lead generation strategies with ease.
To make it easy for you, Saphyte also waives all set-up fees, implementation fees, and customer support fees so you can adopt an omnichannel marketing strategy now.