Consumers are now used to instant exchanges and rapid access to information via digital channels. They expect to be able to interact with companies quickly, at any time and from anywhere. This fluidity is the cornerstone of the customer experience, and therefore of customer lifetime value. More than ever, it is becoming imperative for businesses to adapt to this modern behaviour by adopting omnichannel marketing strategies.
Omnichannel strategy and customer lifetime value: definitions
Definition of omnichannel marketing
Omnichannel strategy refers to an integrated approach to sales and communication that uses all available channels to interact with customers. Unlike multi-channel strategy (where different channels often operate in isolation), omnichannel marketing ensures a seamless and consistent experience across all digital and physical touchpoints. This includes :
- physical shops
- websites
- mobile applications
- social networks
- and more!
The aim is to enable customers to interact with the brand in a variety of ways and with as little friction as possible, to boost customer engagement, satisfaction and loyalty.
Definition of Customer Lifetime Value (CLV)
Customer Lifetime Value, often abbreviated to CLV, is an estimate of the total profit a business can expect to make from a customer over the course of their relationship. This metric takes into account a customer’s repeat purchases over time, as well as their loyalty and propensity to promote the brand. The VVC calculation generally includes elements such as :
- revenue generated by the customer
- frequency of purchase
- the duration of the customer relationship
- the cost of maintaining this relationship
VVC is crucial for guiding an omnichannel marketing strategy, optimising resource allocation and measuring the return on investment of the various marketing and customer service activities.
Customer experience, an integral part of omnichannel marketing
Omnichannel marketing is therefore a strategy centred on providing a consistent and uniform user experience across different sales channels. Omnichannel marketing aims to deliver a seamless customer experience, regardless of the communication channel chosen to interact with the brand. The main objective is threefold:
- to stand out from the competition
- strengthen customer loyalty
- increase sales
Today’s consumers expect access to comprehensive product information, from general specifications to the most precise details. Online, for example, they like to see products in action through images or videos. A lack of information or poor presentation can quickly drive consumers to the competition.
A well-detailed product sheet on your e-commerce site is more likely to attract and hold the visitor’s interest. Even at a lower price, a product sheet that is not very informative will tend to be less attractive than one that offers complete and well-presented information.
That’s why our Gezy e-commerce solution offers comprehensive content management, with detailed content, optimised images and SEO options directly in your back office.
Implementing omnichannel management therefore involves integrating the various channels into the product creation process at an early stage, and takes into account all aspects of the offering, such as :
- customer service
- marketing
- packaging
- the product itself
- associated services
- ease of use
- reliability
Phygital, the perfect blend of physical and digital retailing
The concept of “phygital”, a fusion of the physical and the digital, was introduced by the Australian marketing agency Momentum. This omnichannel marketing approach combines the following elements:
- Physical shops: as central communication elements for a brand, these physical points of sale enable products and services to be presented while stimulating in-store traffic.
- Digital: a marketplace or website is used to enhance the customer experience by introducing innovative features that meet the expectations of an increasingly sophisticated customer base.
Phygital is reflected in the emergence of what are known as 2.0 or connected shops. These stores incorporate innovative technologies, such as interactive digital content.
The main aim of phygital is to revitalise and energise the customer journey, making the shopping experience more engaging and perfectly fluid (whatever the interface used).
For example, you can opt for a digital, intelligent and omnichannel checkout: unique catalogue management, customer purchase history, etc. will be essential assets in your omnichannel marketing strategy.
To find out more about our checkout software, take a look at our range of products for the retail sector.
In addition, increasing interactivity with customers is proving to be an effective strategy for strengthening engagement and developing a community around the brand. This omnichannel marketing can also significantly increase the conversion rate, particularly on social networks where interaction and engagement are essential.
4 levers for increasing VVC with omnichannel marketing
1. Improving customer knowledge
Start by putting the customer at the heart of your strategy, which means understanding them better. Gathering feedback via satisfaction surveys is essential for obtaining valuable customer data. Analysing this feedback turns opinions into meaningful insights: you can then segment consumers and understand their specific needs. This in-depth understanding enables you to personalise your interactions and omnichannel marketing communications. Your strategy becomes more effective as you target the preferred channels of your customer segments.
With our Gezy solution, the Verified Reviews module is installed natively on your merchant site to facilitate this information gathering.
2. Centralising customer data
Once you’ve collected this data, it’s crucial to centralise it to optimise management and customer service. Use a Sales Management system to maintain a unified database that keeps a history of customer interactions. This way, every member of staff can quickly access the information they need to deliver a consistent customer experience, whatever the channel or time.
3. Maintaining a special relationship in all circumstances
Use both traditional channels and new digital tools to maintain a special bond with your customers. Chatbots, newsletters and private events are all ways of maintaining a relationship of trust with your customers.
4. Personalising the customer experience
Ultimately, your omnichannel marketing should aim to deliver a personalised experience for every customer. This presupposes a successful digital transformation. Then deploy targeted actions across all points of contact with consumers, such as a loyalty programme that can be used both in-store and on digital platforms, or alerts for special events tailored to the customer’s preferred channel at the time.
For example, a customer should be able to receive a voucher by email for their birthday, view the offer on their smartphone, and then use the voucher in the nearest physical shop if they wish. This approach guarantees a seamless and memorable customer experience, which is key to strengthening customer loyalty and commitment to the brand.
Omnichannel marketing to improve the customer experience: 7 significant challenges
1. Data synchronisation
A lack of synchronisation can create disparities between channels in terms of offers, prices and product information. For example, divergent promotions between the website and physical points of sale can dissuade customers from buying online. In addition, a purchase made online should be visible in the in-store sales tracking system.
By using our ERP as a back-office solution for all your physical or digital points of sale, you can be sure that your customer data is centralised in a single tool.
2. Team coordination
Omnichannel marketing requires close collaboration between the marketing, sales and customer service teams. Customer service representatives must have access to all relevant customer information, regardless of the channel used. This coordination may require specific training and the adoption of centralised tools to facilitate collaborative working.
Find out how our LMB ERP marketing module can help you centralise your customer data.
3. Consistent customer experience
It is crucial to offer a consistent customer experience across all channels. This means that the information available on the website, social networks and in-store must be uniform. A different brand perception from one channel to another can be detrimental to customer understanding and engagement, and therefore to the performance of your omnichannel marketing strategies. Standardising interactions and centralising support are key measures for maintaining this consistency.
4. Data security
Ensuring the security of customer data is essential, especially with the multiple use of channels. Sensitive information, such as credit card details, must be protected during online transactions. In addition, any collection and sharing of personal data must comply with strict standards such as the RGPD.
5. Choice of tools and technologies
Selecting the right technologies is another major challenge in implementing omnichannel marketing. Companies may need sales management systems, marketing automation platforms and product information management (PIM) solutions. It is crucial that these tools are compatible with each other to ensure that data flows seamlessly across channels. LMB makes it possible! Our ERP connects to all the software in your ecosystem thanks to its full-API technology.
6. Cost of implementation
Deploying an omnichannel strategy can be costly: you may need to make substantial investments in technology and process changes to ensure data synchronisation. There are also costs associated with training staff and adapting existing processes.
7. Organisational transformation
Adopting a vision centred on the customer rather than the brand requires a fundamental change in the culture and management of a company. For traditional businesses, this can be particularly disruptive, requiring a reassessment of management practices, increased team training, and a restructuring of internal processes to avoid siloed operations.
Are you looking to implement an omnichannel strategy? We can help you build your project.
