Faheem Joosub, head of Operations at Red October Technologies (a subsidiary of The Ocean 76 Collective), says that in today’s age of the customer, consumers know more and expect more. “It is no longer enough to simply react to consumer demand for great service. The most innovative enterprises understand that they need to anticipate the needs of their digital customers while creating memorable, completely frictionless experiences that delight and inspire loyalty. “Understanding the benefits of omnichannel and developing a sound strategy have never been more important.”
According to research, brands with a strong omnichannel customer engagement strategy retain an average of 91% of their customers, compared with 41% for companies with weak omnichannel strategies. The same study also found businesses that excel in engaging with customers via web, mobile, social media, and in-store average a 12% year-on-year increase in annual revenue, which is a slight improvement over the 9.5% in previous years, compared with only 4-5% for companies without a defined omnichannel strategy in place.
Red October, says Joosub, offers an omnichannel approach, which focuses on creating a unified customer experience that quickly and effectively resolves customer pain points. This approach focuses on the customer, and what approach and channels, will work best to deliver a unified and seamless experience: “A truly omnichannel approach considers every aspect of the CRM process and the entirety of the customer journey from beginning to end. Omnichannel ensures that the customer voice is heard, and their experience is elevated as a result.”
A platform approach to omnichannel offers a distinct advantage in that it can integrate back-end systems to front end view used by customers or sales associates in store. Joosub says just one example of the power of omnichannel in action is how employees at any point in the sales process would be able to immediately see whether a specific item a customer wants is in stock and quickly proceed to ordering online and reserving the item for pickup or delivery all while noting the customer’s unique preferences for the best possible experience.
Joosub adds that the key components of an omnichannel approach include user/customer research; establishing design beliefs based on the omnichannel strategy; prioritising the synchronisation of customer touchpoints; designing customer journeys that meet all customer needs; real-time communication; establishing a much-needed balance between what is automated and what requires human interaction and lastly, having the IT infrastructure, analytics and data insights to support the seamless omnichannel experience.
Through platform technology, organisations can achieve new levels of integration. “An omnichannel strategy frees business to be more responsive, flexible and agile. Even as new trends emerge and consumer behaviour evolves, omnichannel enterprises can adapt much faster to retain and build market share,” says Joosub
To simplify, he says that a multi-channel approach is more concerned with key aspects of brand management, while omnichannel is far more strategic, holistic and customer centric. While all channels are present in both approaches, the omnichannel approach integrates them, and where communication is fragmented with the multi-channel approach, the omnichannel approach ensures that it is unified, thereby optimising the customer experience. Omnichannel campaigns generate 3x more engagement than single-channel or multi-channel efforts, and consistent messaging increases reach and impact.
“We live in a multi-sensory world where customers use multiple touchpoints and interactions. It is important that we understand this well and execute strategies that address complex customer requirements. It is essentially about creating agile, customer-first strategies using tools that constitute an omnichannel approach. To stay ahead of the curve, technology leaders need to consider the immense opportunity in the omnichannel approach, and the power it has to improve and enrich the entire customer journey” says Joosub.
As part of its commitment to delivering cutting-edge omni-channel capabilities, Red October continues to invest in innovative ad-funded publishing platforms across outdoor and commuter spaces, extending its reach to a wide range of locations. By incorporating ad-funded Wi-Fi into its portfolio, the company offers a seamless, value-driven experience for customers, providing fast and accessible internet supported by relevant advertisements. This strategic move not only strengthens the connection between digital and physical environments but also creates new revenue streams for businesses. With this integration, Red October is ensuring that brands stay top-of-mind at every customer touchpoint, further enhancing the overall journey.
“The benefits of adopting an omnichannel approach are clear, it is no longer a luxury – it's a necessity”
Sources:
SAMRA 2 days
