360 degree view of the Customer: Omnichannel Orchestration at a Glance

If you think ours is not an omnichannel world, think again. The fact is we humans are using more and more channels to engage with everyone, including brands and marketers every single day.

 

 Image Courtesy: Paul Writer 

Omni-Channel Practitioners at a Glance

 These findings come courtesy of Aberdeen Group, who in partnership with Relationship One and Oracle Marketing Cloud released an eBook which reveals the business value marketers derive by mastering orchestration of omnichannel marketing campaigns.

  

Image Courtesy: Paul Writer


Best in Class vs Other Omni Channel Practitioners: Data at a Glance
Image Courtesy: Paul Writer; Y-O-Y: Year over Year

Look at the disparities between best in class and all others. And pay very close attention to the chasm that exists when it comes to year-over-year change in annual company revenue.

While that looks like it’s only 39 percentage points different (6% to 45%) it is, in fact, a 650% difference between those marketers who excel in meeting customer expectations and all others.

You can choose to ignore that stat at your own peril.

Three Steps to Success in Omni-Channel Orchestration

If you’re in marketing and are reading this and are not convinced the majority of people AKA consumers AKA your customers (yes this applies to you B2B marketers) use more than one channel to do pretty much everything — well, you may want to sit up take note of the world around you. 

Consumers today, on average, use six channels with nearly 50% regularly using more than four. In the US alone 98% switch between devices on the same day. It would be safe to assume that percentage is right around the same for the rest of the civilized world. Or very close to it. 

Blame our ever-growing ADD if you want but the point is we change marketing channels like we change channels on our TV. 

1. One View of the Customer

Top performers standardize customer data throughout the business. In a world where ‘big data’ has become the new normal, marketers collect a wealth of structured and unstructured data. These come from multiple different channels (e.g., web, social media, email, in-store) and geographic locations. Structured data refers to data that is organized in a pre-designed way or model. Examples would include data regarding a customer’s web visitation history or past purchases. Unstructured data refers to data that is not organized in a pre-designed way or according to a standard model, such as text in social media messages, recordings of service calls to a contact center, images, etc. 

2. Using Data Effectively

One of the most common mistakes companies make when launching and managing a Customer Experience program is assuming that collecting customer data is good enough to improve customer satisfaction and other measures, such as revenue growth. While some organizations might get lucky and see short-term results, those that achieve long-lasting performance improvements do more than just collect data. They analyze and act on it too. And so should you. 

3. Analyze Customer Feedback

In an environment where marketers use so many channels, it’s easy to get confused about how each channel contributes to marketing program results. One of the ways companies can ensure meeting customer needs is by capturing and analyzing customer behavior and feedback data. This refers to data such as marketing campaign results (e.g., click-through rates, open rates, and shopping cart abandonment rates) as well as survey data gleaned through methods such as online surveys.

To know more read:Digital Experience Management Through Marketing: Orchestrating Omni-Channel Conversations

Reference:

  1. Behold the Business Value of Omni-Channel Orchestration: https://blogs.oracle.com/marketingcloud/behold-the-business-value-of-omni-channel-orchestration
  2. 3 Steps to Success in Omni-Channel Orchestrationshttps://blogs.oracle.com/marketingcloud/3-steps-to-success-in-omni-channel-orchestration
  1. 25 Amazing Omnichannel Stastistics Every Marketer should know  http://www.v12data.com/blog/25-amazing-omnichannel-statistics-every-marketer-should-know/

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