Omnichannel personalisation is the wave of the future: multi-channel customers can mean significantly higher value than single channel, but effective service is about more than presence – it’s about convenience, relevance and timeliness.
The value of a multi-channel customer is often 5 times that of a single channel customer! 60 per cent of US consumers interact with brands through multiple channels and 89 per cent say they want to be able to shop using the channel that’s most convenient for them.
But convenience is about so much more than just having a presence in each channel. It’s about offering a seamless experience across all channels that speaks to each customer’s preferences and specific circumstances. In fact, eMarketer reports that 76 per cent of US consumers are willing to share information to receive more relevant offers and discounts, while 49 per cent desire more relevant product and service recommendations.
Consumers are hungry for a personalised omnichannel experience. As Forrester Research points out (see below), a true omnichannel experience has to be “individualised”— personalised for the individual consumer based on who they are, where they are, what time of day it is, what they’ve purchased in the past, what they’re currently browsing, and so forth. Moreover, this experience needs to wrap seamlessly across all channels, throughout the customer lifecycle.
Senior level marketers reaping the benefits of personalisation report up to a 60 per cent increase in purchases and repeat business, a 56 per cent improvement in response rate and brand perception and up to a 55 per cent increase in sales.
But studies show that 50 per cent of retailers remain behind the curve technologically to meet the needs of omnichannel shoppers, affording a strong competitive advantage to those focused on honing their omnichannel personalisation strategy.
Multichannel Merchant 2015 Forecast predicts that personalised omnichannel marketing will explode exponentially in 2015 as “merchants seek to unify and utilise all the data they have gathered on their customers, and use that unified customer data to create a more customized, personalized omnichannel experience.” Customers will demand a more satisfying omnichannel experience in 2015, and “retailers must focus on creating a uniform customer experience across all channels.”
In their 2014 report on “Personalization And The Rise Of Individualized Experiences” Forrester Research reported that CX pros are refining the concept of personalisation to create “a new class of customer experiences called ‘individualised experiences’ that reprioritise functionality, curate content, and systematise guidance for individual customers.”
Industry agrees, predicting that the trend toward omnichannel personalisation won’t fade away—it will keep growing for years to come. As Avi Dan, CEO of Avidan Strategies and Forbes Marketing blogger says, “Personalization is not a trend. It is a marketing tsunami.”