Boost omnichannel sales with these strategies
The word omnichannel seems to be on everyone’s lips lately. In fact, you’ll rarely see a day go by without it being mentioned in an article or blog post.
And there’s a good reason for that - omnichannel retailing brings massive benefits for business owners.
A recent study of 46,000 shoppers in the U.S. revealed that omnichannel customers tend to spend on average 4% with the retailer when shopping in store and 10% for online purchases compared to single-channel customers. In fact, the more channels a customer uses - the more he’s likely to spend in store. According to the research data, those who used 4+ channels spend 9% on the premises.
So if you are not investing in omnichannel just yet, now may be the prime time to do so.
Specifically, you will need to focus on two kinds of experience - in-store and digital - in order to see your sales curve going up.
Rethink Your Pricing Strategy
Obviously people want to pay low prices for the things they buy. Well...sort of.
People do want bargains. However, that doesn’t translate exactly into pricing strategy the way you might think.
For example, a price of 299.99 may be more appealing than a price of 300.00. It’s just a penny, but the perception is what matters. Studies have been done about the impact of using nines in pricing.
That’s just one example of pricing strategy. Another is prestige pricing. This is where a price becomes more appealing because it is rounded up, or even increased a bit. Upscale items often sell better when prestige pricing is used. Again, perception is a factor. People often associate higher prices with higher quality.
Use Opportunities to Share With And Educate Customers
If you’re in a Trader Joe's, and see a product that interests you, all you have to do is find the nearest store employee. They will open up a package and let you taste it. The Trader Joe's team knows that by sharing products with customers a few things happen:
- Customers Learn More About Their Products
- Customers Identify The Products They Love
- Store Staff Gets The Opportunity to Engage With Customers in an Extremely Positive Way
- Even if The Customer Dislikes a Particular Product The Experience Boosts Trust And Goodwill
This is why if you visit a reputable wine seller, you can always ask what they have open for tasting.
You can educate and share with customers by offering free samples. Some retailers place kiosks in stores that play informative videos. You can even set up in store demos and special events.
Appeal to The True Bargain Shopper
The clearance rack, the discount bin, the dent and ding shelf; almost all of us have a bargain shopper inside of us. Take advantage of this by displaying merchandise that is closing out, nearing the end of its season, or that simply underperformed at rock bottom prices. Just be sure that the displays you use match your stores overall design, and appeal to your target audience.
Remember That Product Placement Matters
Speaking of product displays, where you display products matter. In fact, knowing where to pace your products on the shelf, and how to face those products (e,g, how products are lined up and displayed). Even whether or not a product is up or above eye level is important.
Not only should the displays themselves be nice looking and mesh well with your store design, how you stock your shelves matters, especially when you’re selling food products. It’s been proven that well stocked and properly
A San Diego State University study showed that people were less likely to buy name brand food items from disorganized and poorly stocked display.
Think Cross Merchandising
A final in store change to consider is displaying items for cross merchandising. Basically, this is placing items that might be used, worn, or eaten together depending on the nature of the products. For example, a clothing retailer might display a mannequin dressed in an entire ensemble. Then, at a table nearby they place all of the clothing items in that ensemble for shoppers to buy, even though the norm would be to have those items in different areas of the store.
Creating a Digital Strategy That Marries With Your In Store Strategy
Most customers who shop in-store also engage with the brand digitally. This can include visiting the store website, looking up contact information with their mobile devices, or using an app to determine whether or not there are valuable coupons or other deals. The following strategies ensure that your digital channels lead customers to great in store experiences:
Ensure That Location Information And Directions Are Readily Accessible
When they are out and about, one of the most common reasons a mobile user will access your website is to find location information and directions. If they have to search for that information, or back out and use Google, they’re going to be frustrated. Have that information and functionality on your home page for mobile users.
Make it Easy For Shoppers to Navigate When They’re in Store
In addition to offering street maps and directions, Google Maps also offers indoor maps. Rather than walking around searching for things (frustrating even in a relatively well organized store) or looking for in store directories, customers can simply pull up Google maps on their phones and use the available functions to find what they are looking for.
Use Beacons to Make Your Store’s App Useful in And Out of The Store
Beacons are small devices that are placed strategically throughout the store. When a customer is nearby the beacon communicates with their app. For example, a customer browsing the fishing equipment in a sporting goods store might receive a digital coupon for a discount on live bait. A customer looking at gourmet cheeses might receive a list of appetizer recipes using various cheeses and other ingredients.
Offer in Store Fulfillment
When customers buy online, consider giving them the option to pick up their merchandise at the store rather than shipping directly to them. In many cases, you’ll be able to fill their order quickly, which will please them. Then, you can enjoy the benefit of getting the additional foot traffic.
By using a combination of in store and digital strategies, you can increase traffic to your brick and mortar locations. Then, once customers have arrived you can create an enhanced customer experience that is sure to boost sales.