Ready for the Multichannel Experience?
Multichannel selling has become quite popular among online stores, and in the right hands it can be a very powerful and effective strategy. But what is it all about? Multichannel selling is essentially an eCommerce selling tactic that tries to offer products by using a combination of selling channels, both online and offline. Nowadays, having your products in many places is a must but relying solely on the marketing concept of “sell everywhere to sell more” isn`t always true or effective, simply because not all the channels are suitable for all types of business.
Before Applying A Multichannel Strategy You Should:
Know your customers
Being familiar with your customers is key. You need to know where to find them, which channels they prefer, and whether they are ready for the multi-channel experience.
Know your products
As we’ve mentioned, not all products are suitable for all channels. First, you need to find out which of them could work for your demographic. This means considering all the possible snags, such as logistics or storage problems, that are much more probable when adding new channels.
Know the costs
Multichannel selling isn’t cheap either, so you have to be sure whether or not it’s worth your money. Prepare some kind of strategic plan ahead of time. Know what you have to achieve to be profitable and establish a minimum ROI for each channel you want to use.
Decide on sales channels
You need to figure out a strategy to maximize your reach into the market by using the appropriate channels for your business. You need to know why you are creating a new place for exhibiting your products and what exactly you expect from them. As well, it’s important to look for untapped channels, or channels that may appeal specifically to your customers.
Let’s Take A Look At The Channels
Nowadays, multichannels are not only a combination of brick-and-mortar stores combined with an online presence. In reality, you have a wide range of selling channels available to you as an online store; you just need to find out which are the most suitable for your business. So what are the possibilities that go beyond your online store?
POS — Physical store
The most common reason to prefer a brick-and-mortar store over an online one is the inability to interact with the product before purchasing it. To solve this problem, it’s great to have the online and offline combination. Sometimes it’s enough to have small shops that serve as showrooms, fitting rooms, and drop-off points, all in one. Customers can order their products, come in to see them, and try them on all on the same day at a local drop-off point of their choosing.
Social Media Platforms
Without a doubt, we are living in the era of social media — that’s why social commerce is essential, not only as a selling platform, but also as a way to reach customers and engage with them.
Facebook is still the most popular network with 1.79 billion monthly active users who spend almost an hour per day there on average. A great source of traffic that, most importantly, is also free. You can sell via the Facebook store, Facebook marketplace and also via Messenger.
Another awesome social media platform for selling online is Pinterest. It is great for products with visual appeal and this social network is very often used for finding inspiration, especially by women. Now, with the launch of the “Buy It” button, Pinterest will point the buyer directly to your online store.
Mobile App
People are always in a hurry, so they prefer quick and simple solutions. Nowadays, you can shop on the go, in a bar, on a train, whenever and wherever you want — all with the touch of a button.
Apps are preferred more than mobile optimized websites because they are easy to use and customers feel more secure. Mobile apps are also great for creating loyalty, reinforcing affinity and encouraging further engagement. However, they are not suitable for everybody, and you have to think about the price, actualization and different operating systems before going this route.
Market Places
Market places are a great source of buyers, especially the huge ones such as Ebay or Amazon. In case your brand is not well-established yet, they will provide you with a degree of credibility that can help you grow. On the other hand, you can end up losing ground with your brand from time to time, and it can be hard to deal with relatively strict delivery conditions, especially on Amazon. That’s why it’s so important to look around and find the best fit; there are many marketplaces out there for you to consider.
The Importance Of Multi-channel Measuring
To measure and monitor the data from all your channels is crucial. You need to be informed about what is working well and where your possible weaknesses are, and to have the option to be able to properly intervene at a moment’s notice. For achieving an overarching view of your entire business, you need an eCommerce analytics tool that will provide the data from all your channels in one place so you can quickly and easily check everything you need. Some apps and platforms, such as MonkeyData, are designed specifically for this type of experience.
The Future
The future of multichannel selling and buying is immense. The number of people who switch between different channels during their shopping experience is still rising. Mobile traffic, as well as social commerce, are also on the increase. Nowadays, to sell only at your online store is not enough, especially if you want to stay competitive. Everything indicates that the multichannel will be a great asset and even a must for the future, both with up and coming online businesses and those with a well established presence.
