Multichannel selling is becoming prevalent, especially these days in which information technology is fast changing and developing. Many retailers nowadays are not only selling through brick and mortar approach, but also through various channels like ecommerce, email marketing, social media marketing, and telemarketing, and we call this multichannel strategy.
This strategy can deliver huge output because a multichannel business can reach a broad range of customers. However, multichannel selling also means multitasking. Unlike OmniChannel in which all channels are synchronized and integrated, multichannel system needs constant alignment. Although multichannel EDI is being used to connect all channels, some companies would rather use OmniChannel EDI because all channels can become one entity.
Nevertheless, the success in multichannel approach depends on how the system is being managed. Today, we will look closer at five business habits that will make or break your multichannel strategy.
In the planing stage, you can be aggressive in choosing and implementing a strategy that must be proven and tested immediately. However, there is risk in experimenting with this approach. For instance, you decide to create an ecommerce hub that connects all your online channels. This OmniChannel ecommerce approach must also be connected to other offline channels.
Ecommerce integration is not an easy job, even when it takes an OmniChannel ecommerce approach. It entails adjustments of all that have been introduced offline. Nevertheless, creating an integration hub will rationalize all transactions in the long run. In other words, there are ways to establish a better multichannel approach, but there are also a corresponding risks involved, so the way you plan for it should determine its outcome.
While Disregarding the Cost of Manual Task , There is nothing wrong in retaining some manual tasks if they are perfectly done by human intervention. The cost of manual tasks must be offset by productive output or should translate to sales and profit. Retailers who shift to multichannel strategy for the first time may find it more convenient to do some manual tasks like manually encoding an invoice, printing it on paper, and sending it through a conventional mailing system.
This is the reason why Omni-Channel EDI and even multichannel EDI may not be relevant for them yet. They are simply unprepared for any integration hub system like ecommerce integration. Beginners don't mind if they do manual tasks no matter what it cost. They find it safer to perform some tasks manually; however, the risk of human error can also be high.
By trying to Disregard the Supplier's System is If you are planning to run OmniChannel eCommerce, you would probably want to integrate all channels to make your ecommerce hub a possibility. The problem is that not all suppliers would enter a system that would limit their own.
If you wish to integrate your supplier system into your system, your supplier must be ready to have an exclusive integration into your system. However, you are not the only customer your supplier is serving. Perhaps, your supplier has its own OmniChannel strategy that may not be compatible with yours.
In relation to this, a multichannel approach may be ideal. This is the reason why it is wise not to disregard your supplier's system, so you can better implement a sound strategy.
If you religiously implement the basic transactions by implementing the basic transactions, you can simplify your multichannel strategy and become flexible enough to make any adjustment along the way. Some of the basic transactions you should implement are:
- Consistently Issue a Purchase Order
- Record Your Inventory as Soon as You Receive New Deliveries
- Compare Invoice Against Original PO
This will always guide you to manage your multichannel business and develop more strategies to improve the flow.
There is a saying that says the "customer is king" Instead of thinking of ways to satisfy your customer needs, it's best if you learn what your customers really want. Customer feedback is a great way to start before you figure out whether a certain strategy is ideal or not.
Not all customers are comfortable with the electronic approach. Some of them will still demand for black-and-white document for legal reasons. If that is the case, it's not right to force them to adopt your system. From there, you can make a plan to fit in your multichannel strategy.
Therefore, to sum things up, Multichannel marketing can be a very profitable business strategy if done properly. Nonetheless, it is not a type of strategy that can lead you to success, but it is the way you manage it. The above practices are worth taking note of in order to steer you in the right direction.