What do Ikea, Adidas, and Velasca all have in common? They’re all employing an omnichannel strategy and reaping its rewards. Take Velasca. It specializes in handmade and Italian-made shoes at competitive prices. Nearly 51% of its customers come from ecommerce, and 80% of those entering their stores have had a first online approach with the brand. Examples like Velasca are why 87% of retailers think omnichannel integration is crucial to surviving in a post-pandemic world.
Fashioning an omnichannel experience is challenging. But it drives every aspect of a business to a higher level. Plus, it delivers powerful benefits that can make a difference. In addition to providing customers with 24/7 access to products, an omnichannel experience boosts brand visibility and loyalty, incentivizes customers to choose your over your competition, enhances customer service, and increases website traffic as well as in-store sales.
More importantly, an omnichannel experience helps switch your focus from finding new customers to retaining existing ones. That’s easier, cheaper, and more efficient than traipsing after new customers. It’s also more profitable. It costs five times as much to attract new customers as it does to keep existing ones. Existing customers are also 50% more likely to try new products and spend 31% more than new ones.
Multi-channel integration isn’t Omnichannel Integration
Retailers shouldn’t confuse multi-channel integration with omnichannel integration. They differ dramatically. Multi-channel integration is more of a traditional strategy than a modern one. This type of integration produces cash flows from different sources and different devices. But it focuses on optimizing individual channels themselves without necessarily considering the whole sales experience for customers. That means customers don’t enjoy a seamless experience when switching from channel to channel.
Omnichannel integration puts the customer’s experience front and center. It takes a more holistic approach. It focuses on creating a cohesive user experience at every touchpoint and a smooth-running back-end. Plus, it relies on open communication. Its components talk to each other seamlessly. So, implementing a common IT system across all channels is a must. That enables you to integrate ecommerce with your supply chain, logistics and invoicing.
Integrating your systems, however, has its challenges. For one thing, it boosts IT system complexity, increases competition, and decreases margins. Storage, packaging, and inventory delivery for multi-sites, for instance, adds costs to your overhead. But a big increase in sales volumes and improved customer satisfaction from an omnichannel experience easily overcome weaker margins and more competition.
Odoo ERP is the Backbone of Omnichannel Integration
The key to an omnichannel integration is implementing a digital ERP system—the backbone of the approach. That’s a proven strategy. Yet, some retailers still use different software for different business aspects—an unwieldy and expensive approach. What’s worse, these systems don’t talk to each other. That creates bottlenecks and mistakes whenever transferring data between systems. Instead, you want a robust ERP solution, like Odoo, that integrates all your functions in one. That reduces errors, cuts costs, and increases efficiency.
Odoo ERP is a savvier and simpler way to run businesses. It provides a vast suite of software comprising more than 40 applications. Odoo is fully integrated, comprehensive, and user-friendly. It also supports a broad range of industries. Odoo lets you create a compelling, professional website, manage customer relationships, and design and launch your marketing strategies. Plus, it lets you oversee warehouse operations, customer accounts, and invoicing. Odoo’s apps work seamlessly whatever your business needs.
In addition, Odoo lets you leverage multiple third-party applications. That streamlines and facilitates data flow across all channels. Retailers can use Odoo to integrate channels like online portals, customer claims, mobile apps, POS solutions, and analytical platforms as well as overall backend operations. Plus, Odoo’s flexibility enables you to adapt the solution to any industry, product, and culture. Highly scalable, Odoo’s design enables you to adapt it to expand it as you grow.
Leveraging Odoo for Omnichannel Integration
One of Odoo’s strengths is its ecommerce module. It’s an up-to-date open-source online module that integrates with Odoo CRM and ERP systems. This module provides retailers with enormous benefits other ecommerce solutions don’t offer. With Odoo ecommerce, you have full control of your online store. You also get a dedicated POS module that simplifies and streamlines order management and speeds up order processing.
Odoo ecommerce offers 360-degree online services with a focus on providing compelling customer experiences. More than 4,100 companies worldwide use this module, including WooCommerce and Shopify. Combining Odoo ERP with other Odoo apps provides a powerful tool for creating omnichannel integration. That boosts customer satisfaction and helps you retain existing accounts.
An omnichannel integration empowers customers to take control of their environments. That incentivizes customers to choose you over your competitors—a critical advantage in the eyes of today’s increasingly demanding consumers. Plus, it delivers powerful benefits that can make a difference, like increased brand loyalty, enhanced customer service, and improved website traffic. Those are big advantages for retailers battling to survive in today’s chaotic business environments—benefits you can ignore if you’re a retailer.
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