What is Omnichannel and What Does it Mean for Your Business?

What is Omnichannel and What Does it Mean for Your Business?

With the increasing use of the internet over the past ten years, company owners and managers have had to continue to evolve to stay on top of the latest technologies. Most recently, the concept of omnichannel commerce has come into popularity. But what is it and how do you implement it for your own business?

Omnichannel commerce is far simpler than it may sound. Omnichannel commerce simply means to provide multiple communication channels for consumers to purchase through, such as retail stores, online stores, mobile stores, mobile apps, telephone sales and any other method of transacting with a consumer. Simply put, omnichannel commerce is interactive shopping and selling.

Consumers are naturally buying more and more online, combining a multitude of instore and online inventory and promotional options to make their purchasing experience best for them. By creating continuity and communication between these channels consumers will be able to purchase with the method that is desirable for them at the time. A previous customer of yours is browsing at a different jewelry store across town. She sees a new necklace style she just has to have, but it is in the wrong color. She jumps on her smartphone and pulls up your current website inventory locating the perfect necklace, she quickly adds it to her mobile cart, places the order and selects in store pickup. The next day she drops by your store to pick up her new favorite necklace and of course adds the matching bracelet to the order in store. That is omnichannel.  Consumers appreciate the ability to move easily between channels, which increases their likelihood of returning to your business, thereby increasing sales.

However, successful omnichannel commerce not only means that a consumer can connect with your business by any method, it also means that there is consistency and history between whatever methods the consumer may use.

Omnichannel Commerce and Consumer Flexibility

Omnichannel commerce isn’t just about providing multiple channels to consumers. Equally important is creating a seamless transition from one channel to another. This means that the consumer experience should be consistent from channel to channel, including ease of use, branding, product options, payment history, and customer experience. The channels must communicate with each other, tracking history, inventory, profile information and more. In addition, consumers should be able to pair channel options to suit their individual needs. For example, consumers may want to purchase online, while picking up in store. Or, if the consumer is shopping at a retail store, they may need to easily access coupons and promo codes online and apply them to their retail store purchase. To effectively connect your channels and create omnichannel commerce for your business, it is necessary to unify your channels through the use of a cloud-based Point-of-Sales (POS) system.

Adopting Omnichannel Commerce

You have an online store and you have a retail store; how do you create true omnichannel commerce? Omnichannel commerce can quickly and easily be implemented with the right POS system. A cloud-based POS system provides a centralized database for any business, allowing business owners and managers to create continuity across multiple storefronts, providing easy employee and consumer access to purchase history, sales and promotions, and available inventory. A POS can be individualized for the business that is using it. Users can utilize their own branding, integrate specific features and apps, and can easily connect their various channels.

How Omnichannel Effects Your Business

Adopting omnichannel commerce and a cloud-based POS isn’t only for consumers, it is also highly beneficial to owners and managers. Cloud-based POS systems also provide managers and owners with a multitude of tools. Managers and owners can work within one system to track analytics and sales, allowing them to continuously refocus their marketing efforts as necessary. Owners can view the consumer journey from every angle and every channel, allowing them to understand how to re-engage with the consumer in the future, increase sales, improve customer service, and more.

When it comes to channel options, omnichannel commerce only provides positive outcomes. With increased sales and improved consumer satisfaction, there is no reason to not adopt an omnichannel strategy. To get started, select a cloud-based POS that can unify all of your channels, adapt to your strategic business needs, and integrate with your online store.

Does your current POS offer your business the support you need? Can it help you quickly transition over to omnichannel commerce? SilverEdge can help. If you are ready to talk with a SilverEdge representative about the right POS choice for your business, contact 970-800-2890or email info@gosilveredge.com today.

 

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