Global Digital Info

Different Types of Omni-Channel Digital Marketing Strategies

When it comes to digital marketing, there are three main channels. These include social media, online search, and display. Research shows that most customers hop multiple channels to buy what they need. That is the reason omni channel digital marketing is the need of the hour.  When it comes to Omni Channel Marketing marketers need to focus on online and offline channels to engage their target audience with seamless customer experience. The marketing strategy should be to give customers more control over the buying process and in doing so, allow them to engage with the brand anywhere and anytime.  Brands and marketers agree that omni channel digital marketing should cover not just websites but also mobile advertising, PPC, social media, and more. It works to increase customer engagement, ensure customer loyalty and results in higher revenue generation. So, if you are a digital marketer, here are some omni-channel digital marketing tactics that you shouldn’t hesitate to use.  Chatbots Thanks to Facebook Messenger, chatbots have surged in popularity. Nearly 1.3 billion people use Facebook Messenger across the world and this number is still growing. Messenger is designed to help brands and companies interact with their target audience. You can use omni channel automation to automate the chat to inform your brand, new products, help in product selection, and more.  When you begin using chatbots, you will find that you get a high response rate. Research reveals that the response rate is nearly 4 to 8 times higher than what you would get with email marketing. With the help of chatbots, you create a stellar omnichannel experience and drive your target audience through the sales funnel more efficiently.  Push Notifications If you are struggling to get traffic, facing cart abandonment, or want to increase the visit duration of visitors coming to your website or eCommerce store, you should think of using push notifications. In omnichannel marketing, this is one strategy that can be successfully employed with minimal effort.  Push notifications can be extremely useful when you want to send reminders to your customers about an upcoming sale or promotion. These notifications can also help reduce the rate of cart abandonment by sending gentle reminders to customers to complete their purchases. They are designed to grab the attention of users and compel them to act. Hence, they tend to be quite successful.  Text Messages eCommerce stores tend to gain the maximum benefits from text messaging. You can use omni channel marketing automation to schedule the text messages and personalize them to communicate with your customers.  Text messages allow you to confirm purchases, provide shipping and delivery notifications, and also request feedback so that you can improve your service. Some eCommerce retailers also use text messages to reduce shopping cart abandonment by sending automated messages. If the customer responds, you can incentivize them by offering a discount or getting a live person to resolve issues that are preventing them from completing the purchase.  Augmented Reality This is the latest technology to make waves in digital marketing. In augmented reality, you can overlay the visual layer on top of the user’s experience. For instance, if a person wants to buy a new sofa for their home, using augmented reality, you can show them how the sofa would look in their living room.  Using augmented reality, customers can bring products to life and make an informed buying decision. They can get a 360-degree view of the products and also check how they will look when they buy them. You can customize AR technology so that your eCommerce store stands apart from the competition.  Visual Search While visual search is not a standalone strategy, it can be extremely effective. As the term suggests, the search results are displayed visually. When it comes to an omnichannel eCommerce platform, visual search can simplify a search for products and quickly showcase products to prospective buyers.  Visual is a great way to maximize the use of the search option on your eCommerce and display relevant results to visitors who have the intention to buy what you are offering. It makes use of deep tagging to show results, which can be a single product from one category or multiple products from the same category.  Things to Note To make sure that your omni channel marketing endeavors are successful, you have to consider the following: Focus on Customer Experience Digital marketing is about creating superior customer experience. Your digital marketing campaign needs to determine what is the best for your customers and then provide it to them. Remember that you cannot do this alone. You need all the departments to collaborate to ensure optimal customer experience.  Take a Data-centric Approach If you want your omnichannel marketing to be a success, optimize the use of your data. You will have data from multiple sources about your target audience. It will include their profile, search and buying habits, demographics, and more. Analyze the data so that you not only understand your target audience but also know how they engage with your brand. Once you know this, you can create an effective marketing strategy across all channels. Target and Personalize Your Messages Divide your customers and subscribers into groups based on their profiles, levels of engagement, and shopping behavior. Then you can target each group with personalized messages. Not only will this evoke a better response but it will also make it easier for you to send out the messages. You can use omnichannel marketing automation for this purpose. Automation ensures that your target audience gets the messages at the right time and via the right channel. It has been observed that location-based advertising gets the best results.  Customize Your Buyer’s Journey When you analyze data and divide your target audience into groups, you will get to know their entire buying journey. That, in turn, will allow you to create personalized messages to facilitate that journey. Your messages should not just promote sales and offer a discount but you should use them as a way to … Read more

How To Start a Retail Business: The Ultimate Guide

Retail Business

If you are keen to start a retail business, there are numerous opportunities out there. However, such a business is highly competitive and if you do not plan it smartly, it could be a risky proposition.  With so many different retail businesses out there, your business must stand out. Here is a guide to help you get started and allow you to open a Retail Business that is poised for success from the very beginning.  Create a Proper Business Plan A business plan shows the future objectives of a business and the steps a person will take to achieve them. It offers a roadmap so that you do not lose your way. The plan shows what you intend to achieve three to five years down the line and also includes milestone markers.  Your business plan should include the following: -Executive Summary: This is a description of your business and goals and how you intend to achieve those goals.  -Business Description: This section of the plan conveys your business idea succinctly. You should consider this as the elevator pitch. -Market Analysis: This part of the business plan explores the current market and also identifies the target market. -Competition Analysis: As the name suggests, this section of your business plan gives details about your competition, including a SWOT analysis. -Service and Product Line: Here, you need to talk about the retail products and services that you intend to offer your target customers.  -Operations and Management: This part of the plan concentrates on how you intend to manage and run the day-to-day business. -Financial Analysis: Finally, the last section talks about the capital required to start, operate, and expand the business. The Costs Involved to Start the Retail Business Just having a great retail business idea is not enough. You also need to have money to help your business flourish. This requires you to create a budget so that you realize the costs involved in operating the business. When you know the areas of your business that have high costs, it will become easier for you to tackle them at a later stage.  Some of the costs that you need to budget for include: -Location: If you want to have a physical place, where customers can come and buy what you are selling, you should ensure that it is a place where there is high foot traffic. Such a space comes at a premium. You would not only have to pay a deposit and monthly rent but also spend money to decorate and remodel the space so that you can customize it to suit the needs of your business. In case you want to just sell online, you need to look into hosting your website as well as creating a virtual store.  -Merchandise: Whether you are selling online or through a brick-and-mortar store, you need to consider the initial cost of procuring the merchandise as well as storing it. Based on this, you can easily forecast monthly costs and plan your budget accordingly. -Insurance: A retail business needs business insurance. This will protect you and your business should something go wrong. -Technology: Whether you intend to have an omnichannel e-commerce platform or a physical store, you should have a robust retail POS system. This is especially true for an eCommerce platform as you should be able to easily integrate it. Universal is one such software that is designed specifically for retail businesses. So, it is worth exploring it. Furthermore, you also need the right security to keep products safe from burglary and theft.  -Marketing: The cost of marketing is often overlooked when creating a budget to kick-start a business. You can opt for software that allows omni-channel marketing automation. It will ease a lot of your stress and allow you to focus on creating a result-oriented marketing strategy.   -Payroll: To run a retail business, you will need help with the day-to-day operations. The cost of paying salary or wages and other benefits should be part of your budget. This will be a recurring cost and hence, you should never ignore it.  Funding the Business Once you know the total cost to start your business, you need to create a plan to fund it. Perform financial analysis to forecast not just profitability but also the breakeven point. When you do a thorough analysis, it will be easier to get financing. You can opt for a business loan through your bank. It can be used to start your business. Make sure you have the paperwork in place before you apply for the loan. Also, check your credit score as the bank will assess it before sanctioning the loan. Your score will determine the interest rate and other terms and conditions.  Registering the Business Come up with a good name for your retail business and then come up with the right ownership structure, which can be a sole proprietor, partnership, or corporation. Then you have to register it with the tax authority and get the Employer Identification Number. You also need to check with the local authorities to figure out the different licenses and permits your business needs to stay compliant.  Supplier Management Since you are starting a retail business, you need to have your vendors in place. Make sure you opt for vendors, who offer quality products without charging high costs. You also have to ensure that selected vendors have the right supply chain so that products can reach your store as quickly as possible. Ensure you research vendors well. This will affect the way your customers perceive your business and brand, and that, in turn, will have an effect on the bottom line of your business.  After shortlisting vendors, you need to establish a supplier budget that takes into account the wholesale prices for products as well as the cost of shipping and delivery. Try not to have exclusive contracts with vendors as it can put your business at risk should the vendor not be able to meet your needs. Involve an experienced … Read more