All posts tagged Mobile Apps. Technology

What An Omnichannel Approach Can Do to Build Customer Loyalty

What an Omnichannel Approach can do to Build Customer Loyalty

Technological advancements are driving disruptive and transformative impact on the global retail industry. The emergence of multiple shopping channels – brick-and-mortar, Web and mobile, among others – is forcing organisations to transform product-centric business models into customer-centric ones to ensure a seamless shopping experience across all retail channels. Businesses employing the traditional multichannel retail approach in adopting customer centricity are struggling to build customer loyalty. Customers are demanding this change and the Omnichannel approach has enabled businesses to harness the shift by focusing entirely on customers instead of single-point solutions for individual channels.

The Omnichannel approach essentially unifies the brand story across all retail mediums to provide a consistent customer experience, and integrates the customer-facing and back-end operating models with agile technologies.

Revamping the Business Model

Present-day customers are more tech-savvy than an average brand advocate, and in more control to make appropriate purchase decisions with the proliferation of digital technologies and the resulting internet economy. Customers are therefore empowered to choose any path on their purchase decision journeys. As a result, conventional competitive differentiators such as manufacturing, processes and to some extent, service quality have been commoditised.

The Omnichannel approach enables businesses to focus on enhancing loyalty across all stages of the customer lifecycle. This strategy helps businesses to interconnect all touch points of the purchase funnel by ensuring seamless shopping experience across all channels, and therefore contributing to the overall customer journey.

Customer loyalty is no longer just about offering discounts and coupons. Businesses have to incorporate loyalty well before engaging them in sales by offering the right information and offer at the right time, which is the primary purpose of Omnichannel practices.

Technology Factor

Omnichannel retail solutions leverage big data and analyse customer behaviour to yield actionable insights that empower businesses to deliver personalised shopping experience to every individual customer. Understanding varied customer behaviour is crucial to optimising shopping experience across all channels. This customer-centric approach strengthens existing customer relationships as they are incentivised to respond positively, encouraging the additional personalised services that set brands apart from the competition.

The Omnichannel approach is used as a coordinated strategy aimed at maximising cumulative benefits across all channels. The returns are measured across campaigns and tactics spanning multiple retail avenues. The improvements are therefore reflected simultaneously across multiple channels, allowing businesses to strengthen relationship with a growing pool of customers seeking relevant information via different retail media and sources before making purchase decisions.

Enhancing Customer Experience

Enhancing customer user experience across all channels is at the core of these improvements. Mass digital disruption has forced a significant shift in customer purchase journeys and decision patterns. At the same time, businesses are expected to address these changes efficiently, integrating disparate retail channels for a seamless user experience. The loyalty loop therefore spans across all touch points of the consumer decision journey, enabling customers to participate in cross-channel retail simultaneously, which is necessary in the modern consumer-driven retail industry.

The channel optimised approach not only engages customers during the initial stages of the purchase funnel, but also drives brand advocacy upon successful engagement. With the Omnichannel strategy, brands serve appropriate information to potential customers well before they are engaged. Customers therefore respond by placing more trust and advocating the approaching brands to their wider social network. The Omnichannel strategy also enables businesses to track brand advocacy from each customer and reward them accordingly.

And the results are staggering, to say the least. A recent Aberdeen Group research concluded that businesses employing the Omnichannel strategy achieve 91 percent greater year-over-year increase in customer retention rates and five times higher average profit margin per customer as compared to competitors incorporating conventional consumer engagement strategies. The IDC Group also finds Omnichannel customers spend 30 percent more than multi-channel customers, who spend 30 percent more than single-channel customers.

The end result is a mix of highly coordinated and compelling cross-channel engagement, relevant business interactions and incremental growth of loyalty among existing and potential customers.

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How Mobile Apps Change the Landscape of Today’s Business

How Mobile Apps Change the Landscape of Today’s Business

Traditional brick and mortar business is dead. Proliferation of the digital disruptive era has given birth to multiple new and diverse retailing channels to engage businesses with the ultra-connected tech savvy customer-base. Merchants are aiming for a competitive differentiation by leveraging mobile apps to integrate the dueling world of digital and physical commerce and customer engagement. To an average customer, services merging mobile and on-site commerce into a seamless Omnichannel shopping experience go a long way in making well-informed and convenient purchases.

Mobile Apps Help Your Business to Create Instant Sales

Meet John, your average customer staring at Tablet devices at your big box retail store, pondering over a few questions: Is this device good for my needs? Is this item available at the store? Is this the best price and warranty I can get?
So he takes out his smartphone and goes online searching for his best purchase option. In the meantime, the wireless network analytics at your department store alerts the nearest available sales agent to offer personal assistance to John. The agent equipped with enterprise-class mobile gadget accesses the store’s database and checks for unit availability, product information, customer reviews and latest pricing options to accommodate possible discounts.
The agent has all the necessary information to assist John in purchasing the Tablet device from your store and is able to make the sale before the customer has second thoughts. John opts for mobile payment instead of standing in a long checkout queue and orders shipping with a complementary personalized gift wrap for the intended recipient on his behalf – all within minutes of wondering about the purchase.

The Role of Mobile Apps in Omnichannel Approach

In essence, mobile apps for Omnichannel business functions create new sales opportunities, enhance customer engagement and boost efficiencies by transforming the way customers interact. Integrated with cloud-based analytics technologies enable businesses to understand the goals of their customers; as such that mobile apps serve the most relevant and convincing information to make sales.
According to a U.S based app analytics firm Flurry, 80 percent of U.S. citizens spend their mobile time on apps and only 20 percent on standard Web browsing. Mobile commerce is also on the rise in Asia according to a MasterCard online survey, which says 40 percent of online shoppers in Singapore, South Korea and Hong Kong purchase via mobile.
Consumer habits are influencing business strategies and mobile commerce has emerged as the center of digital innovation for businesses offering seamless customer experience across all digital channels. However, digital presence alone is not sufficient to engage customers seeking multiple channels in accessing information relevant to your business in their Omnichannel buying journeys.
Merging in-store physical experiences with digital insights maximize business opportunities as the consumer and corporate sector takes a mobile-first approach in their purchasing practices. Omnichannel retailing is a new territory for businesses and the future of mobile commerce will be driven by Omnichannel marketing services. For businesses seeking an early competitive edge with this marketing strategy, now is the right time to invest in mobile apps offering these services to customers as well as the workforce.

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