What’s In Store for Omnichannel Marketing in 2015?

Every year the marketing industry goes nuts over a new buzzword.

Four years ago, “omnichannel” was the talk of the town.

Even today, you hear conference speakers call omnichannel the “next big thing”. The problem is, marketers often confuse what omnichannel exactly means. In fact, omnichannel is frequently mistaken with multichannel.

In order to fully understand omnichannel, let’s start with the basics.

Multichannel Mix-Up

Retailers use different channels such as flyers, catalogs, posters, radio, and TV to attract consumers to their stores.

This approach is known as multichannel.

Multichannel marketing uses multiple channels to engage with consumers. However, there isn’t always a consistent consumer experience across all channels.

A shopper may find one price on a retailer’s website, and a different price in their flyer.

This is a key difference between multichannel and omnichannel.

Shopping with Omnichannel

This is how CMO Essentials defines omnichannel:

‘While companies using this (omnichannel) approach also use multiple channels to engage their customers they distinguish themselves through two additional factors; consistency and focus on devices involved in client interactions. These businesses are diligent to ensure that their customers receive the same experience and message through different channels and devices involved in their interactions with the company.’

Beyond a consistent brand experience, the role of omnichannel is evolving into creating a well-integrated shopping experience. In other words, marketers are aware that a shopper’s buying journey may start and finish on different touchpoints — browse in store, buy it online.

Now wearables and other smart products are getting thrown into the mix. Marketers are faced with figuring out how to reach consumers and tell effective stories in this hyper-connected world.

What’s Out There is a Mixed Bag

Multichannel and omnichannel marketing are co-existing in the competitive landscape as brands adapt to rapidly changing shopper preferences.

Brands using multichannel strategies are shifting towards a better-integrated approach.

Brands using omnichannel strategies are preparing for the changes smart products will bring to the marketplace.

Buying into the Internet of things (IoT)

The Internet of Things (IoT) is defined as any device or object’s ability to connect to the internet, or one another, with the touch of a button. In the years (or even months) ahead, IoT will change the way consumers relate and interact with their products and services.

Smart watches that can record a voice message and send it to a friend are no longer a sci-fi dream. It’s a reality.

IoT developer EVRYTHNG summed it up in their Product Relationship Management whitepaper:

‘It’s time for our physical products to be as clever as Google, as immediate as twitter, as informative as Wikipedia, as social as Facebook, as useful as Evernote, as personal as Amazon, and as entertaining as YouTube’.

Omnichannel’s core concept is creating integrated consumer experiences. IoT is all about connecting the physical with the online world. Together, omnichannel marketing and IoT give brands the necessary tools to develop highly personalized experiences.

How can IoT enable better omnichannel practices?

Smart products have the potential to deliver accurate, real-time consumer data to brands. This gives retailers the ability to predict better product life cycles and create effective strategies based on actionable data.

From a consumer’s perspective, IoT provides personalized product recommendations, based upon habits, at the exact right moment. This will decrease the amount of irrelevant advertising.

Combining omnichannel with the latest technology is a win-win equation. Retailers get more relevant and useful consumer data and consumers are exposed to products they actually want to buy.

What are your thoughts on the evolution of omnichannel?