Consumers are spending a great deal of their time online – 2020 research estimates are at 6 to 7 and a half hours in a single day. That’s at least one third of our day spent in the digital world. This includes social media, search engines and emails. Access to the internet and mobile technology has changed many aspects of people’s lives, including how they shop. The availability of new platforms has led 73% of consumers to shop for products and services on multiple channels. Hence, the omnichannel consumer.
These consumers also tend to be loyal to retailers, logging 23% more return visits to the brand’s website than single-channel shoppers. Optimizing marketing efforts to suit this new kind of omnichannel consumer starts with understanding who they are, what they are like, how they behave and how profitable they are to the retailer.
Understanding the Digital Consumer
Most consumers today are connected to the internet pretty much all the time – either through their mobile device, laptop or desktop – sometimes all three at the same time! According to Triad Retail Media, 88% of shoppers research their purchases online before buying and 65% compare prices online while they are in a store. Plus, those who use multiple channels to conduct product research spend 14% more with brands than single-channel shoppers. Reaching and engaging these digitally connected consumers with relevant messages and offers as they move across channels and devices is the key to a successful omnichannel strategy and experience.
But it’s not always easy, as the customer journey has gone from a simple funnel to a complex maze that jumps from online to offline and back again. Consumers often search for products online or visit a brand’s website to compare products and prices. They may click on ads that offer enticing products or sales or turn to social media for recommendations before finally making their purchase either online or in store.
And now the impact of COVID19 means that to compete effectively in this landscape, brands need to build a consistent presence across channels while yet delivering tailored messages and experiences at key moments of opportunity. According to a Nielsen report, the connected consumer is looking for convenience above all. Shoppers turn to ecommerce for an enjoyable experience and time-saving benefits. The smoother the journey, the easier they are to convert.
Ultimately, it means we as marketers must use each platform in the spirit of the platform, while remaining true to their branding to create an experience that is enjoyable yet consistent. How you appear on Pinterest needs to fit the Pinterest visual aspect yet still meet the Twitter funny twist on copy and still be your brand.
To engage today’s connected consumer and make the most of their investments, marketers need the ability to combine the profile data they have with multi-touch attributes so that they can better understand consumer preferences and how different audiences interact with their brand across all channels and devices. By combining these, marketers can get a holistic view of every marketing interaction that leads to a sale or another desired outcome. Instead of drowning in a sea of siloes, last touch data, marketers can gain near real time insight into that marketing tactics that influence specific audiences. By uniting attribute and performance data this way, marketers can optimize their budgets and create the type of relevant and personalized experience that drive business results. In truth, the idea of marketing agility and omnichannel experience from 2019 is outdated in the time of COVID19 of 2020.