Our guest author Mayank Rai writes about the varied benefits of an omnichannel strategy

In this current era where only a perfectly balanced combination of traditional and digital-infused marketing reigns supreme, the power and fame of any brand along with its reputation automatically and entirely rests on the customer experience.

Customer experience, also called CX, is essentially a brand nurturing the relationship and strengthening its connection with its customers. In other words, customer experience can be said to be the sum total of clever strategies with consistency multiplied by a charming approach and care for the needs of customers. 

The company advertising the product, the quality of the product, and all the communication must have a futuristic vision attached in order for it to be successful. The brand’s correct calculation can help build much-needed trust while establishing reliability as well as credibility in the eyes of customers.

One more factor that the brand shouldn’t overlook is the rise of the digital revolution. It could be used to gain maximum attention, exposure, and profits. The moment we mention these three, omnichannel comes into the scene.

How a brand or company interacts with its customers has massively changed over the past year, the credit for which solely goes to the omnichannel strategy. Today, from tech to finance, every industry uses an omnichannel strategy to increase its reliance on the market. This strategy uses multiple channels to interact with  customers, developing a seamless experience for customers to shop whether through the virtual store or physical store. With the help of omnichannel, the data gathered by servers become well-organised and therefore highly accessible, which in turn can be efficiently used to track the progress of the brand.

Benefits of Omnichannel Strategy

There are a lot of benefits to applying this strategy as per your goals.

1. Increase in profits 
This is one of the major benefits of the omnichannel strategy. If a consumer is searching for a product, creating the right strategy for a consumer to buy the product with no hassle through different channels would be a lot easier. According to Harvard Business Review, customers buying through omnichannel are 30% more valuable. 

2. Better reach
With the help of this strategy, customers will not have to go through the hassle of finding you online and can contact you through different means whether through an app, email, or just a phone call.

3. Combining offline with online experience
It is not enough today to have separate online and offline stores with any random theme. Customers prefer to check the product in physical stores so that they are assured that the product they are looking for fulfils their requirements.
Therefore, having the same presence in physical and online stores increases the customer satisfaction rate. Many food chains have mobile apps which bring discounts for customers dining in the restaurant and provide QR codes for the online menu and ordering from the table itself and apps like Spotify which have an incredible omnichannel experience, providing its services through various platforms whether Apple’s iOS or Chrome’s web app and feature of syncing the music in real-time.

4. Increase in customer satisfaction
Providing multiple channels, through which people can check out different products while providing them all the information about the product can increase customer satisfaction rate. Delivering good services through these channels would delight customers and they would be naturally more inclined towards your brand.

5. Well-organised data
The omnichannel strategy helps a company monitor and organise the data it collects through various channels and understands the psychology of consumers while they are looking out for a product, discounts that have attracted them to buy a certain product, the products they have glanced at, through which medium they have paid and their reviews. These factors help the company’s marketing team a lot in processing further with a better strategy.

The author Mayank Rai is the founder of HOVO Digital.  A Full Service Digital Marketing Agency based in Delhi. HOVO Digital is a member of afaqs! marketplace.