Technological advancements have brought tremendous wonders to our lives. What never seemed possible has become possible today.
We interact with each other virtually through the internet and that too through multiple channels. It seems as though we live in a magical world where everyone and everything is seamlessly connected. Though this magical world is wondrous, it has posed a big issue for organizations.
As consumers have multiple channels to switch between, it has become imperative for companies to offer an omnichannel digital experience. Before we proceed to discuss the importance of adopting omnichannel digital experience, let’s explore what omnichannel digital experience actually means.
What is an omnichannel digital experience?
An omnichannel digital experience is wherein a company gives its customers access to its products, services, offers, and other things on multiple channels. This enables customers to switch between channels for availing a company's services or purchasing its products.
For example, instead of offering customer support through the company website only, today's organizations also offer support through multiple platforms such as Facebook Messenger, Instagram live chat, and email. With an omnichannel digital experience, customers can switch between these channels easily. And this is made possible with the help of digital experience platforms.
5 Reasons Why Businesses Should Switch To Omnichannel Digital Experience
By now we know what omnichannel digital experience means. It enables businesses to offer the same experience across all digital channels or touchpoints throughout the customer journey.
Such an omnichannel approach has multiple enormous benefits associated with it, let’s explore them to understand why all business organizations should offer an omnichannel digital experience.
#1. Improves Customer Retention
In the words of Brian Balfour, “If your retention is poor, then nothing else matters.” Why is customer retention so important? Loyal customers are the lifeblood of your organization. They keep returning to do business with you which keeps your business in a steady profitable state. Not only this, but loyal customers also encourage their friends and family members to do business with you.
Given that, they serve as the true assets of your organization. To back up these statements by research, it is crucial to mention that increasing customer retention by just 5% boosts profits by 25% to 95%. Feeling amazed? That’s natural.
Now, be ready for another surprising revelation!
Research shows that companies with omnichannel customer engagement strategies retain on average 89% of their customers as compared to the customer retention rate of 33% for other companies that do not engage in omnichannel customer engagement.
#2. Greater Reach
Another huge benefit of offering an omnichannel digital experience is that it enables you to reach your customers where they are. When you have a huge presence on multiple channels and have them interlinked, your customers don’t have to put any effort to find you. After all, you have your extended presence everywhere. When you are all around your customers, they can’t forget you.
This builds beautiful relationships between you and your customers. And as we know, good customer relationships are the foundation of a thriving business. Every leading business organization that you know in the world today accredits its success to excellent customer relationships. Hence, by switching to omnichannel marketing, you can build excellent customer relationships and create a gateway for your business to thrive in the long run.
#3. Greater Profits
Omnichannel digital experiences lead to greater profits. How? When your customers have multiple channels to interact with your business, they can connect with you whenever they feel the urge to buy something. With this ease of connection, they don’t have to wait to buy your products. They make purchases instantaneously, which implies that they don’t have time to think or change their decisions.
Moreover, when you are accessible on multiple channels, they don’t have any need to purchase products from your competitors’ websites. This implies that with an omnichannel digital experience, you can reap greater profits. As the major goal of any business is to reap enormous profits, the omnichannel digital experience can help you fulfill one of the biggest aspirations of your business.
#4. Improved Customer Satisfaction Rates
Today, no one is unaware of the power of word-of-mouth marketing. What your customers say about you is the true differentiator when it comes to enormous competition in the world of business. Positive word-of-mouth marketing gives you an edge over your competitors. Quite the contrary, negative word-of-mouth marketing gives you a competitive disadvantage.
Needless to say, no business organization ever wants its customers to engage in negative word-of-mouth marketing. Given that, it is important for all businesses to focus on customer satisfaction. As a business owner, you already know that only dissatisfied customers speak badly about your company, products, and services.
Don’t want this to happen?
Then, improving customer satisfaction rates is the only option. No doubt, achieving 100% customer satisfaction is next to impossible, but improving your customer satisfaction rates is undoubtedly possible.
If most of your customers do positive word-of-mouth marketing for you, then the impact of negative word-of-mouth will definitely be negligible. Further, one of the sure-shot ways of improving customer satisfaction is to offer an omnichannel digital experience. It adds to excellent customer service. According to research, 63% of customers fall in love with brands because of excellent service. Hence, offering an omnichannel digital experience improves customer satisfaction by improving the quality of services.
#5. Unearths Customer Data
As a business owner, you already know how important customer data is for you. Whether you aspire to offer personalized offers or improve customer experience otherwise, customer data is crucial. Without customer data, you can’t take a single step forward.
With this, we come to another enormous benefit of offering an omnichannel digital experience, which is that it unearths precious customer data. You can follow your customers through different channels, understand their preferences, behaviors, and temptations and use this data to allure them. Moreover, you can also leverage this data to determine future business decisions. If your decisions are inclined with customer preferences, your business is undoubtedly set up for success.
As discussed throughout, omnichannel digital experiences are beneficial to your organization in multitudinous ways. Given that, you shouldn’t spend any more time thinking but start preparing to take your business or product to the next level with omnichannel digital experiences. So, are you ready to bring this massive revolution to your customers’ experience?
Wish you All the Best.