As consumers increasingly look for (and expect) more ways to purchase items through online methods, manufacturers are swiftly realizing they can no longer avoid all the vital benefits and peace of mind that comes with a well-orchestrated, omni-channel sales infrastructure.
- According recent Harvard Business Review findings, out of 46,000 shoppers studied, 73% used more than one channel
- The same demographic was reported to spend 10% more online, when compared to the remaining percentage.
- Based on findings from International Data Corporation (IDC), consumers who shop across more than one channel offer a 30% higher lifetime value.
Using the latest big data analytics software, makers in all industries can now stay 100% connected to their entire sales chain – from their largest to their smallest online retail outlet, while enforcing consistency across the board and uncovering ways to better target repeat AND first-time purchasers.
The following are three ways to easily boost success through real-time, omni-channel pathways:
1. ENFORCE CONSISTENT PRICING & DISCOUNTS
Everyone likes a good deal and NO ONE likes to feel cheated out of an even better one. Today’s shopper is savvy and equipped with the most rapid-fire fingers and skills to find the best deals available – all thanks to mobile-optimized digital retailers such as Amazon. Wherever they are – at home, at work, or on the go – manufacturers can ensure their audiences are being offered the best and fairest value.
By pulling all product content descriptions from every online provider onto one easy-to-navigate platform, manufacturers can quickly monitor and address any pertinent pricing or discount listings. Of course, spotting rogue retailers, with their own pricing agendas, is a huge help in maintaining or restoring projected cash flow.
2. INTEGRATE THE RIGHT BRAND MESSAGING
One of the key advantages of the omni-channel experience is the potential to analyze and adjust content and messaging across different regions and providers. As every brand has a core identity from which all communications stem, with a complete 360-degree view of the sales chain, manufacturers can manage how brands stay on message across any device.
Being able to visually examine how shoppers are reacting to descriptions, campaigns, marketing ads, etc., through analytics and direct, online feedback is a capability brands only once dreamt about. Meanwhile, it brings forth another opportunity to detect minor and major inconsistencies from one retailer to the next.
"Right now, many brands have designated teams to manually search retailer websites such as Amazon and Walmart to see if they're displaying the manufacturer approved content. Unfortunately, they are discovering that the inconsistencies between manufacturer and retailer content cause confusion to the shopper.”
- Anthony Ferry, co-founder and CEO of PriceSpider
3. ENSURE A PHOTOGENIC LISTING
First impressions are everything, even online. With an increasingly visual experience being offered on the web, brands are doing everything they can to help their products stand out from the crowd. Yet, staying on top of dozens, or even hundreds of sites has not been traditionally easy, or even possible in many cases, especially when considering the many complications that can arise from different accepted formats, varying pixilation, and poor or outdated equipment.
With new software like PriceSpider’s Brand Monitor, the curtains are finally pulled back on how products are showcased on every retailer site, so manufacturers can discover where they are being misrepresented through off-brand or unclear visuals.
As the vast world of manufacturing is discovering, non-compliance (whether intentional or unintentional) is one of the biggest challenges to those who distribute through multiple retailers. At the end of the day, giving the omni-channel sales chain complete visibility is the only effective option to help keep the extended brand family in line, while cutting down on shopping dissonance and boosting profit margins.