An Omnichannel Loyalty® approach is about maximizing cross-channel marketing with an emphasis on driving cumulative loyalty results – not through a single campaign or promotion, but through a lifetime of ongoing engagement with your brand. And there is a lot of data to support this trend, suggesting our industry is moving towards even more integrated campaigns and innovations. We’re evolving. It won’t stop. And neither will we.
The difference is in the digits. Check out these stats:
- Shoppers who buy online and in-store have a 30% higher lifetime value than those who shop only one channel.
- At Macy’s, customers who engage across channels are 8 times more valuable than customers who engage with the brand only online. In fact, the retailer eliminated barriers by moving to one hybrid organization, combining online and in-store marketing and merchandising teams to create one consistent view of the customer with cross-channel responsibility for sales margin and earnings.
- At Dick’s Sporting Goods, Omnichannel efforts are improving the bottom line with shopper spending 3 times higher than those who simply visit brick-and-mortar stores.
- 33% of companies with Omnichannel customer engagement strategies retain 89% of their customers on average, compared to 33% for companies with weak Omnichannel customer engagement.
- Omnichannel-focused companies also average 9.5% YOY increase in annual revenue (compared to 3.4%) and an average 7.5% YOY decrease in cost per customer contact (compared with 0.2%).
- The opportunity cost of not being Omnichannel is 10% in lost revenue.
The numbers are quite staggering and clearly outline the rewards of embracing an Omnichannel approach (and the risks of not doing so). Are you ready to go Omni? We are and we’re waiting for you.
Presented By Kobie Marketing: Experience Loyalty
Sources:
IDC research report via Think with Google:
https://www.thinkwithgoogle.com/articles/omni-channel-shoppers-an-emerging-retail-reality.html
Google/Ipsos, Consumers in the Micro-Moment, September 2015:
https://www.thinkwithgoogle.com/articles/connecting-the-dots-measuring-your-micromoments-strategy.html
Retail TouchPoints, April 2015:
http://retailtouchpoints.com/features/retail-success-stories/dick-s-sporting-goods-maintains-focus-on-omnichannel-excellence
Internet Retailer, December 2013:
https://www.internetretailer.com/2013/12/31/why-omnichannel-strategy-matters
RIS/EKN Customer Engagement Tech Trends Study:
http://risnews.edgl.com/retail-research/Customer-Engagement-Tech-Trends-Study–The-Personalization-Imperative95903
600 px wide embed code:
