According to Forrester’s 2015 Customer Experience Index (Forrester, 2015), 86% of companies want to excel at customer experience. But only 27% of brands even qualify as “good” in the eyes of their customers.
Today’s omni-channel consumers expect brands to address their needs in real-time and turn to their mobile devices when contemplating making a purchase. A wealth of information is a mere tap away via our smartphone apps and a poor experience can be easily replaced with another viable option a click away.
These intent-driven moments of decision-making and preference-shaping have fractured the consumer journey into hundreds of real-time “I want to buy” micro-moments of decision-making and preference-shaping, as termed by Google.
Today’s Shoppers Demand Information Right Here & Right Now
Welcome to the new world order of 24/7 great expectations shaped by customers who expect to be able to make more intent driven decisions with a seamless experience.
Today’s shoppers demand product information in real-time. Whether it be trusted and authentic reviews, product photos or nutritional information, as consumers we’ve come to want exceptional experiences exactly when and where we want it. And nowhere is it more apparent than in retail.
- Fully stocked shelves bursting with variety? Done.
- Loyalty program? Goes without saying.
- Free overnight delivery? Naturally.
But these great expectations go beyond the “what” and are firmly rooted in the “how.” And that’s all about “Omni-channel” being touted as shopping’s new norm. The bar has been raised and the expectations are clear. Consumers expect that retailers will/better deliver a seamless and consistent experience across channels and devices.
Omni-Channel Shoppers: An Emerging Reality for Retailers
For the retailer, omni-channel requires overlapping to ensure that the customer remains delighted and perceives a seamless experience from end to end. Helping a customer through their entire buyer’s journey means knocking down internal barriers to hold their hand at each stage, making sure that each hand-off is perfect. (BigCommerce, 2016)
An Aberdeen survey (Internet Retailer, 2013) cites that companies with omnichannel customer engagement strategies retain on average 89% of their customers, compared to customer retention rate of 33% for companies with weak omnichannel customer engagement.
Fortunately, many online retailers and suppliers have already enabled omni-channel functions and are clearly seeing the benefits. They’ve made the required investments in understanding their consumers’ needs and then tailored the rest of the organization to meeting those needs.
It’s An Omni-Channel World After All: Engaging Consumers and Connecting Trusted Product Data Everywhere
By enabling products to stand out in a crowded omni-channel world, 1WorldSync delivers rich and trusted product content, including digital assets and insights – to engage customers and consumers – regardless of location or medium. 1WorldSync’s Omni-Channel solutions helps leading retailers capitalize on product information to drive conversion.
Walmart is one such retailer that views the omni-channel shopper as its sweet spot. At its annual shareholders meeting last year, Walmart’s CEO, Doug McMillon addressed the importance of an omni-channel strategy (Marketing Land, 2015). He said that Walmart will keep making technology top of mind when it comes to internal and external customer facing initiatives.
“I want us to stop talking about digital and physical retail as if they’re two separate things. The customer doesn’t think of it that way, and we can’t either. One customer can shop with us in so many different ways – in stores, on their phones, at homes, a pick-up point. But they just think they’re shopping at Walmart, at ASDA, at Sam’s Club.”
Exceeding Expectations and Creating Stellar Experiences For Omni-Channel Customers
Conversely, there are countless other retailers that are lagging behind – whether they’ve taken a few wrong turns or are just late to the game. The consumer’s great expectation remains regardless.
A survey by Synthetix (Synthetix, 2016) indicates that 9 out of 10 customers expect to receive a consistent experience over multiple channels. They expect a valuable, memorable and story-worthy experience. They expect detailed and consistent product content to aid in decision making. They expect to see this same level of detail when shopping for another product in another department. They expect a single view with a wide array of efficient and convenient options. And they expect to shop at any time from any number of devices – such as their PCs, smartphones and tablets.
Clearly, given the consumer’s mighty requirements for an integrated omni-channel shopping experience, retailers and suppliers must move quickly to deliver on those soaring expectations or risk the curse of any industry irrelevance.
- “The US Customer Experience Index, Q1 2015 – Forrester.” 6 Oct. 2016<https://www.forrester.com/report/The+US+Customer+Experience+Index+Q1+2015/-/E-RES117482>
- “Omni-Channel Retail and The Future of Commerce – BigCommerce.” 2016. 6 Oct. 2016 <https://www.bigcommerce.com/blog/omni-channel-retail/>
- “Why an omnichannel strategy matters – Internet Retailer.” 2013. 6 Oct. 2016 <https://www.internetretailer.com/2013/12/31/why-omnichannel-strategy-matters>
- “Walmart positioned to drive omni-channel marketing in global retailing.” 2015. 5 Aug. 2015 <http://marketingland.com/walmart-positioned-drive-omni-channel-marketing-global-retailing-137007>
- “The rise of demand for multi-channel online customer service – Synthetix.” 2016. 6 Oct. 2016 <http://www.synthetix.com/website_documents/Synthetix_Online_Customer_Service_Survey_2012.pdf>
- Shoptalk 2017 Recap - March 28, 2017
- Walmart Unleashes Bold Strategy To Take Amazon Head-On - February 7, 2017
- Ringing In The Retail: Does Size Matter? - December 19, 2016
- Back to the Future of The Evolution of E-Commerce – Part 2 - December 19, 2016
- Back to the Future of The Evolution of E-Commerce – Part 1 - December 19, 2016
- Still Struggling with the Complexities of Omni-Channel Retailing? - October 26, 2016
- It’s The Holiday Season for Omni-Channel Retail - October 18, 2016
- How The Consumer Experience is Driven by “I Need to Know Moments” - October 5, 2016
- The Supplier Side – Must Do: Leveraging Walmart’s Store Assortment Online Initiative - September 27, 2016
- Retail: The reports of my death have been greatly exaggerated - September 14, 2016