If you’re running a multichannel retail or catalog business, it can be tempting to think you’re doing everything possible to satisfy your market. So long as you’re providing them with the product they want, what more could you possibly do? You already offer them every imaginable method to purchase it. But that kind of thinking can quickly sink your company and hand over your profits to the competition. Instead, always stay vigilant in your efforts to improve how your multichannel retailer wins customers. Consider the following options, for example.
Never Ignore Trends
Any multichannel retailer that wants to go out of business probably couldn’t ask for a better tactic than ignoring trends. This includes everything from trends in technology to their market to their competition. As a retailer with multiple avenues, you need to know which ones are worth what resources. You also need to be able to predict, as much as possible, how that could change tomorrow.
Focus on Growth
This probably seems like an obvious one. Of course your business wants to focus on growth. Which one doesn’t? However, in terms of an omnichannel retailer, the story’s a bit different for you.
For you, this means always knowing exactly which growth pockets you wish to target and why. Are you looking to simply acquire new customers online, for example? Or are you trying to optimize your in-store customers by also getting them to login and spend more when they get home? Growth options are all around you as a multichannel retailer; be clear on which ones are right for you and then give them your full attention.
Tailor Your Product Line to the Channel
Depending on which channel you’re using, different products probably sell better. Those customers who walk in your store to make a purchase may be ready to buy things that those who shop online never would. You need to find out if these kinds of discrepancies exist amongst your customer base. If they do, you need to then make sure you’re tailoring each product line so you’re getting the MOST® from them. Obviously, don’t waste shelf space on product A, if you know in-person customers prefer product B. Either ditch product A or find out which one of your channels has a better chance of selling it.
Don’t Treat Your Staff the Same
Another mistake you could be making is thinking that all your employees are the same simply because you call them all “sales associates.” This simply isn’t the case and you could be hurting your bottom line by making such an error in judgment. The people in charge of online sales probably have nothing in common with those who handle selling from your brick and mortar business. Likewise, there is probably little overlap with associates handling sales over the phone. Everything from their pay to the sales model they follow should be customized to the channel, not to the role.
Maintain Consistency for Customers
That being said, customers should feel equally comfortable shopping with you no matter what channel they use. This means setting standards across the board with regard to how customers are treated and how brand identify will be honored. You don’t want customers to face a jarring experience when they move from one channel to the next. Ideally, each should be equally accommodating, despite their obvious differences.
There’s no easy way to run something as complicated as a multichannel retail or catalog business. But that doesn’t mean it has to be needlessly difficult either. By implementing the above advice, your company can see better customer satisfaction and profits across all channels.
Sources:
https://www.mckinsey.com/insights/consumer_and_retail/the_promise_of_multichannel_retailing
https://smallbusiness.chron.com/definition-multichannel-retailing-20263.html
