Showing Trends and Facts of the Market

Objective

After completing this lesson, you will be able to analyze the different strategies used by businesses to engage with customers in an omnichannel world

Market Trends and Facts Impacting Businesses

We Live in an Omnichannel World!

Businesses, be they B2B, B2C or B2B2C, want to interact and engage with their customers through various channels, for example, physically, through webshops, mobile apps, and interaction centers. Businesses want to offer an unbroken and engaging customer experience to their customers.

We live in an omnichannel world.

Even businesses who traditionally dealt through one channel, for example, a physical store or online, are looking at other channels of engagement to take their company to a new level.

Channels for Interacting

Customers chart their own path while engaging with companies and use different channels, or a combination of channels, to interact with a company.

Also, customers have embraced an omnichannel approach. They chart their own path for engaging with companies and these paths can be unique and unpredictable.

Combination of Channels for Interacting: Engage in various ways, such as in person or online.

Customers start engaging with a business through one channel but can switch to another at any time. For example, a customer may start looking at a company's products on its webshop but end up buying the product in a store. Conversely, they may start at a store but end up ordering through the company's mobile app and get the product delivered to their home. Also, a customer can choose one way to engage a company the first time but can choose a different way the next time.

Customer Experience

Customers expect a consistent and compelling experience across all sales channels and consistent promotional pricing is an important aspect of this.

Two people shaking hands. Offer a consistent and compelling experience.

The main aspect of this experience is that every point of engagement during this journey matters and customers expect a consistent and contextual experience during all their interactions.

Consistency in information and the engagement experience provided to a customer through any channel and journey path is the key to offering a true omnichannel experience. Consistent promotional pricing of products is an important aspect of this experience.

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