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Digitalization has penetrated almost every field, it revolutionized the way a customer communicates with a retailer and vice versa. Smartphones, tablets, laptops, and desktops are quick means of shopping online. E-commerce businesses are developing rapidly, touching a wide range of audiences in a second. This needs effective management with the best omnichannel platforms to provide high-end customer service.
Omnichannel solutions are designed to gather data from multiple channels (whether online or offline) under one umbrella so merchants can analyze it effortlessly to provide their customers with a consistent experience along all the channels. By providing a personalized customer experience, omnichannel platforms help e-commerce businesses generate good revenues. Merchants can provide their customers with a facility to interact anywhere at any time.
E-commerce businesses usually operate globally so efficient handling is a demand to survive among competitors at the international level. Marketing and selling through multiple channels bring in a large number of customers. A major challenge is handling this enormous flow of customers which is possible with omnichannel platforms. It let merchants reach customers via everyday use channels. It is a perfect solution for e-commerce businesses that don’t possess physical stores for customer interaction.
18.96% of brand interaction can be heightened with an e-commerce omnichannel strategy. As compared to single-channel retail, omnichannel retail shows 87% sales volume which is a much greater figure. Brands with a good e-commerce omnichannel strategy secure an 89% customer retention rate, marking omnichannel platforms as a significant way to achieve buyers’ loyalty. A statistical report taken from Statista shows 42% of respondents declare an omnichannel strategy critical need to run a business.
Omnichannel platforms can drive your e-commerce business to new heights in the following ways:
Customers can interact with a brand via multiple channels whether it is through a website, social media page, or any other online marketplace. Moreover, they can use multiple devices to interact with the brand e.g. smartphones, laptops, tablets, desktops, etc. Whatever medium they select to connect, the experience should be seamless and consistent for them. The customer service, product purchasing procedure, order returns, appointment booking, etc. should be equally efficient across all channels. This makes all the procedures easy to understand and use by customers, gains their confidence, and also enhances your e-commerce business credibility.
Best omnichannel platforms assist e-commerce businesses to develop a consistent experience for customers across all channels which in return increases customer engagement thus creating higher sales opportunities. For example, merchants with an e-commerce omnichannel strategy can check stock levels to prevent overstocking and out-of-stock issues. An omnichannel keeps all the data across sales channels connected giving real-time inventory updates so merchants can quickly take action to replenish inventory where needed and make sure the availability of product no matter which channel the customer used to place an order. This makes the customer happy.
Data analysis is an important part of any business which merchants have to conceive attentively because it evaluates the reasons that cause percentage increases or decreases in sales rates. Manual input takes time, however, data driven by omnichannel platforms is rapid as it is done through automation. Data from multiple sales and marketing channels are gathered into one report by an omnichannel so merchants can easily look at the stats without switching between various channels, saving time. This quickens up actions and thus plays a vital role in improving business efficiency by analyzing any obstacles and providing solutions immediately.
The risk of fraud is more probable in online sales therefore security check is a must to prevent loss. Real-time insight into inventory and high-quality data report generation by applying an e-commerce omnichannel strategy provides security to online businesses. Omnichannel platforms help to identify suspicious activities to protect businesses from fraud. It does so by providing purchasing opportunities to customers via multiple touchpoints.
Customer data is precious to e-commerce businesses losing this useful information is another issue that might occur. Moreover, the customer’s data that they provide while making an online purchase e.g. contact number, name, address, and credit card details can also be accessed illegally if not secured properly. Omnichannel solutions secure your business data and prevent it from stealing. This would gain customer trust in your brand who would like to purchase from your shop again and again.
Improving customer purchasing experience is significant to gain their loyalty. Satisfied customers would like to purchase from your online store over and over. They will also recommend your brand to people in their contact which brings in good sales.
All this could be made possible with an e-commerce omnichannel strategy by which brands can track customer purchasing behavior via a BI reporting system. These stats help merchants replenish inventory timely by knowing the most wanted products by customers and ensuring their availability every time the customer places an order. Moreover, omnichannel platforms help map the customer journey, giving a visual representation of the process a customer goes through to interact with the brand. It lets merchants analyze the needs of customers and reasons for their good and bad experiences with a brand. Enhanced customer services can be provided as merchants can see where and when improvement is needed.
Achieving a high sales rate is the objective of every business whether online or offline because it increases the company’s revenue ensuring business growth. So merchants are always busy building strategies to improve sales which are effectively made by integrating business systems with omnichannel platforms. Omnichannel software integrates data across all channels and gives real-time updates of inventory so merchants can timely restock the out-of-stock goods so the sale doesn’t affect due to the unavailability of ordered products. High sales rates improve e-commerce business in many ways e.g. merchants can reinvest to expand the business. It also Improves brand recognition because customers are attracted to those companies whose products are sold the most.
Streamline workflow has a direct impact on business efficiency which is important to boost profits. Your e-commerce business will be more productive and could compete in the market only if it has an efficient supply chain management system. Omnichannel software provides an order management system that collects data from multiple channels to present in a single report. Whether it is about inventory or order fulfillment journey, the real-time update is provided to the team so they can work in good coordination to resolve the issues as they arise and fulfill the target timely. An omnichannel platform connects employees and removes communication barriers as each member of the team is well-informed about the actions taken during the order fulfillment procedure.
Omnichannel platforms help reduce your e-commerce business cost. Firstly, it takes over the task of many employees which can then be invested into more productive w
An omnichannel solution provides real-time data updates that are accurate and reliable. The data collection is made through automation which means no scope of human error that may occur because of manual input. It let merchants improve data quality which helps to:
Customer loyalty can be gained through outstanding customer service which is possible if your business system has integration with an omnichannel platform. When a customer is loyal to your brand he or she keeps on purchasing from your online store which earns you good profit. They also refer your brand to others bringing in new buyers. Omnichannel platforms track customer purchasing journeys, help analyze customer needs, and keep you connected to customers through email and text messages.
Omnichannel platforms gather reliable, accurate, and real-time data across multiple channels under one umbrella. It presents this data to merchants in a unified report for stress-free analysis, leading to wise decision-making to improve business.
Ginkgo Retail is one of the best Retail software solutions in Pakistan. It provides a consistent experience to your customers across all channels which helps gain customer loyalty and attract new buyers. Ginkgo Retail can be integrated with other ERP solutions to boost business efficiency. It is highly customized and can be molded according to your unique business needs.
Ginkgo Retail serves as an omnichannel to collect data across multiple channels and generate a detailed report so merchants can analyze data without switching between channels. Once you get it integrated with your business system all the procedures are automated saving time and money. To meet the demands of the rapidly developing Pakistan’s e-commerce market, Ginkgo Retail keeps evolving its features to remain the best fit for your online business. It got the following features:
73% of customers prefer to shop via multiple channels according to a survey conducted by Harvard Business Review which observes the shopping pattern of 46,000 customers. Therefore 90% of merchants agree upon the fact that an omnichannel e-commerce strategy is essential for business. The data collected is valuable to build productive business strategies therefore business automation via this solution is vital to flourish in the competitive ecommerce market.
Obaid Arshad is CEO/Co-founder of Ginkgo Business Solution. He has diverse experience of 10+ years in versatile domains of e-commerce, logistics and tech-oriented business. His eminent role in ecommerce management empowered him to benefit the industry with his knowledge, vision and experience.
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