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Today’s digital age has fostered new and exciting technologies, forcing businesses to adapt their marketing and sales campaign strategies.
Apr 07, 2022
With these recent advancements in technological feats and hyperconnectivity scaling rapidly, there’s a hunt to determine the optimal method for deploying, monitoring, and measuring the successful sales initiative. Found in our Given Trends for 2022, we have noticed that analytics is transforming and is already making significant impacts on the omnichannel strategy, creating a paradigm shift in the market that leverages the power of analytics.
As most may already know, an omnichannel strategy is a method that helps you create a seamless experience for customers across all the channels through which you sell. However, we see a complete paradigm shift from what’s been observed in the past. It encompasses your brand’s online and offline touchpoints, from a point-of-sale system to an Instagram shoppable post, and it's not just for retailers anymore.
This approach offers hyper-personalized products and services that prioritize a customer-centric rather than product-centric point of view. And with analytics being at the forefront, it transforms the previous way of thought around its use.
But what does this mean as we navigate through 2022? In our research and developed use cases, we’ve observed that this strategy takes advantage of a “data explosion” in the business analytics arena that features a combination of AI and Machine Learning modalities that are leveraged to create a hyper-personalized experience for the target customer.
What makes an Omnichannel Strategy Practical?
As a result of collecting data from different channels, we can extract relevant information about the customer journey. We can optimize processes and improve services based on customer feedback by analyzing this data. Thanks to data analytics and intelligent process automation, a company can offer hyper-personalized products and services. The approach facilitates rapid feeds of Artificial Intelligence models activated in real-time, lowering latency times and associated costs.
How does analytics lead to a successful omnichannel strategy?
Found in our Given Trends Insight Pill for 2022, we analyze three unique use cases where analytics positively impacts the omnichannel strategy, from maximizing return on investment (ROI) by 27 percent on all digital campaigns, generating new business opportunities, to constructing a Data Warehouse with all the metrics to evaluating the business model and attracting new customers, while increasing brand loyalty.
These use cases demonstrate the successful results of utilizing analytics as to the driving point for the approach and the potential when applied correctly to a data-driven business strategy.
Let’s look at this from a sales, marketing, fulfillment, and operational perspective:
Sales: An omnichannel strategy often depends heavily on your sales strategy and can help you prioritize which channels are most appropriate for your target audience.
Marketing: Consistency is important across all channels for your marketing messages. When you appear on multiple media channels, your customers can feel connected to your brand via omnichannel marketing.
Fulfillment and logistics: No matter what you are selling, order fulfillment is the only way to deliver your product. It’s an essential part of the omnichannel experience and can help you reinforce your brand promise on the last leg of the journey.
Operations: To do omnichannel well, you need a system that ties all of your channels together.
This strategy is what we see taking the analytics market by storm in 2022, and the use cases with this approach continue to grow as a better understanding of its benefits takes hold.
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