Explore the unique and powerful world of omnichannel marketing and commerce. See how it impacts customer purchase journey, purchase frequency as well as lifetime value. Make the most out of your omnichannel marketing and commerce.
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Epic Guide to Omnichannel Marketing and Commerce
1. EPIC GUIDE TO
ADVANCED OMNICHANNEL
MARKETING AND COMMERCE
Specialist@Orkiv.com Powered By Orkiv.com 401-300-4653
Learn the secrets to operating smoothly across
channels, leveraging technology, and enhancing the
customer experience.
2. Unique Qualifications
As the Chief Executive at Orkiv, Alex has had a direct impact over a short, robust
career working with retailers. Along with his partners, the Orkiv team has been able to
help nearly 100 retailers throughout the USA and beyond. Alex has been a long-time
entrepreneur and wanted to completely derail the way retail worked to make a model
more efficient, smarter, and easier than anything out there. This led to the creation of
world class retail software, which helps to align retailers online and offline worlds.
Through delivering these solutions, Alex has acquired a vast amount of knowledge
working with retailers to improve their operations from a technical grounds up. Let
him guide you to retail success with the right people, processes, and technologies to
make it happen.
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Alex Senn
About the Author
Founder/CEO at
Orkiv.com
Say Hi @Senner10
3. CONTENTS
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Status Check - What is my
current omnichannel
position?
4.
What should my system
handle?
8.
How to fully leverage
omnichannel technology for a
sales boost
12.
Closing the Gap - Online vs.
Offline
16.
Summary and Info23.
4. Status Check - What do you Have?
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“Quality is not what you put into a product. It’s what
the customer gets out of it” - Peter Drucker
5. A Need for Retail Change
Classic retail systems are not utilizing technology to the fullest extent.
Classic retail struggles to adapt and change with market trends and
innovate through outside forces while understanding customers wants
and needs. In order to compete you must take advantage of the
massive leaps in retail technology. Orkiv automates essential
components of the marketing and commerce funnel to supercharge
customer acquisition and purchase frequency.
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6. Causes of the Slowdown?
In many cases the real reason for
economic slowdown in any industry
is a simple outpace of supply with
decreasing demand. In this case the
supply has gone up, but so hasn’t the
demand. Retail continues to increase
as a whole, especially in the
eCommerce segment. The problem
facing current retailers is how to best
tackle the omnichannel aspects they
need to. The chart mentioned shows
this. When you facilitate an easy
convergence of online technologies
and your physical storefronts so they
benefit each other, this is when the
true pace of innovation speeds up.
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Take Inventory
What is your current system capable of? On the next page we
look at a few basics, as well as the more advanced omnichannel
capabilities. If you don’t meet most of these basics, it may be time
to reconsider with something like Orkiv marketing and commerce.
Only 45% of
Retailers Cite
Omnichannel as a
Major Priority in 2015
7. Cover the Basics
Here’s a few of the basics you should already have covered in order to
have a well rounded omnichannel presence.
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Online order, Pickup
In-Store, Ship from Store
etc.
Automated order
message updates for
buyer and seller
Automated smart
recommendation using 6
data points
Integrated loyalty and
social intelligence
marketing system
Event based
email/message triggering
Shipping integration with
30+ vendors
8. 3 Things Your Omnichannel Should
Be Able to Handle
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“We are products of our own past, but we don’t need
to be a prisoner of it” - Rick Warren
9. A) Effective Omnichannel Components
More Time with Automated Workflows
Combining essential components to facilitate a one-stop-shop for
customers no matter where they come from ensures a seamless
shopping experience. Interweaving this with intelligent commerce that
knows the customer is how you keep them coming back.
Smarter Website
Conversion
Omnichannel
Everything
Event Based
Email Automation
Social Conversion
Location Relevant
Targeting
Interactive Buying
Experience
Less Pressure with Increased Purchase Frequency
Happier Customers means More Loyalty
Essential Marketing and Commerce
Components within Orkiv
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10. B) Integrating Made Easy
A modern omnichannel commerce system should be able to handle
nearly any software pieces you throw at it. From your POS to the
beacons you plan to put around your stores, your omnichannel system
needs to be able to connect and leverage those new technologies.
Here’s a few things you may want to integrate with:
Accounting
Your
Omnichannel
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Marketing
ERP Merchandising
POS
Customer Service
When executing your omnichannel system within a larger organization
it’s crucial to keep in mind the flexibility you will need to integrate on
the fly. You have to balance multiple areas of the business, which will
all rely on active communication with your omnichannel commerce
system. This will be a whole lot easier when you can integrate with a
few lines of code. When running smoothly, you can use all the
information to make smarter business decisions.
11. C) Innovation on Demand
A true test of a good omnichannel system will be it’s ability to
experiment and test rapidly. This will allow you to try new things,
seeing what works and what does not. Such things as price points,
automatic demand generation, intelligent product recommendations
and email automation are great to test. Here’s some experiments you
can try:
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1 Smart Pricing
When you shop Jet, Amazon,
Airbnb or Uber you are buying
through an algorithm that
adjusts prices based on
demand.
2 Advanced Marketing
Beyond just the simple tactics
with messaging and pricing,
test the ability of marketing
your products through
augmented reality or
programmatic ads.
3 Marketplaces
Test different marketplaces to
see which sell your products
best. Compare the results with
A/B testing to identify and
optimize for sales.
4 Social Hacks
Have your system track
mentions of a particular
hashtag, reward customers
based on how many people
they refer.
“Shoppers who purchase both
in-store and online have 30%
more lifetime value as
compared to single channel
shoppers”
12. How Do You Fully Leverage
Omnichannel?
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“One way to get the most out of life is to look upon it
as an adventure” - William Feather
13. Automated Omnichannel
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Omnichannel is a way of business, it’s an opportunity to present the
best possible experience to your customers. If done correctly, you can
certainly improve your bottom line sales. One of the most important
aspects to get right is full automation of the way the system is bringing
in customers. To demonstrate, see the components below which
describe a marketing funnel and how automated systems embedded
within make your life easier.
Lead
Customer
Traffic To Your Site
Evangelist
Hack #1 Utilize sponsored social posting
to limit the amount of time spent creating,
while maximizing the targeted reach. Do
as much as possible to have customers
create your content.
Hack #2 Use email automation and smart
event flows to target people and convert
at the time they take action. Utilize your
omnichannel system to source the right
products to provide this customer.
Hack #3 Recommend the products
related to a recent purchase in order to
increase average order value. Send these
products at relevant times during, middle
and after the transaction.
Hack #4 Grab the opportunity to turn one
customer into multiple customers with an
automated referral system. Award points
or benefits to people as they share with
their social networks. This is well worth the
investment as it’s your marketing on
autopilot.
14. Convert - Smarter Omnichannel
❖ Online product selection adapts to prior customer
interactions/purchases
❖ Customers events trigger smart messages with
relevant products/sales etc.
❖ Referral program increases customer base
automatically
❖ Easier workflows and fulfillment throughout the entire
process
In order to give customers freedom to shop (and buy) wherever they
please, your people should have the freedom to create the right
environment to make it happen in. Using a smart commerce system
increases purchase frequency, and average order value. Something
like Epic Commerce provides a smooth transition from buying to
receiving product. Using a smart system you can connect with the
customer throughout their entire journey, and continue the whole
process until the next journey starts.
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15. A Note About Subscriptions
One of the best ways to ensure
you are getting the most out of
your overall commerce business
is to integrate a recurring model
one way or another. It can vary
widely from what that might be
but here are a few examples.
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Toys Socks Dog Food
Make it Work
The subscription model works by getting customers to sign up
for a recurring shipment of your goods. Your offer can vary
widely between a random assortment within one product
vertical, or tailored goods depending on the customer's
preferences. At the end of the day, the customer is paying for
this monthly or quarterly shipment of goods which you have
described. This ensures consistent cash flows and offers a
great way to keep existing customers more loyal.
16. Closing the Online - Offline Gap
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“Great things are done through a series of small things
brought together” - Vincent Van Gogh
17. Connect It All
Beyond the basics of omnichannel there are many ways you can really
close the gap between online and offline. Perhaps one of the most
important is to simply mention the other channel directly. On
purchases, on your website, in the aisle, through your email, whatever
it is mention the other channel. Make customers understand and feel
natural buying from both your online and offline presence. Do these
quick things in order to make customers more aware:
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Simple Signage
Your stores are a great place to
make it abundantly clear you offer
customers the convenience of
online shopping, in-store pickup
Drip Campaign
After making an online purchase, or
delivering their email at checkout,
reach out to them 4-5 times to
show and alert customers of the
benefits of online/in-store
ordering. Perhaps suggest
products along the way.
On Receipts
Your customers usually look at the
receipt, online or offline. Make their
day by announcing the
new/existing benefits they receive
buying through one of your other
channels. Offer a special code to
first time users and see what
happens.
Checkout
During your checkout process, in
online and offline cases, you will be
able to announce and even
suggest trying an alternative form
of buying. If online, add an extra
button or highlight “pickup in store.”
18. Tools For Online-Offline Interaction
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C) Augmented Reality
While it may seem futuristic, we have already
begun implementing it. Augmented reality
puts a digital layer over real-life objects. In this
case, your mobile app could pick up on
special 3D coupons outside your storefront.
It’s a truly unique interaction that is poised for
growth.
B) Beacons
Beacons are the preferred choice of
hyperlocal communication with customers
coming nearby. They are easy to deploy and
can interact directly with someone as they are
walking by your storefront. Beacons use
bluetooth, but they can be placed around
your store to increase sales as customers
walk by a particular item.
A) Geolocation/IP
For a longer range approach to online-offline
marketing try using geolocation and IP
detection. This will work across mobile/web
devices to alert someone when they are
within a certain radius. In the case of Proximo,
this lets you target and make an offer all via
geolocation/IP targeting.
Apply this technology to make it easier for
customers to purchase while in the store, as
well as online where they can then come in to
grab the product. This channel uses an “Uber”
style infrastructure using the phone as the
only source of payment. An example of this is
in the Nike stores, as well as Apple stores.
D) Frictionless Checkout
19. A) Geolocation/IP
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Range: No Limit
Cost: Small
Accuracy: 50%-80%
Tech Level: Beginner
Advantages:
● Great for longer-distance targeting
● Minimal user requirements
● Very limited infrastructure needed
● Utilizes two forms of gathering location (GPS, IP Ping)
This form of targeting is very effective when you need to
reach out to new or existing customers who are within a few
miles range. It can be used via both web and mobile, and is
super versatile in it’s ability to target. The great thing about it
is there is no limit in the range you can target. So you could
target from 500 meters to 500 miles.
Disadvantages:
● Lower accuracy with IP
● Users opt-out of sharing location ~12% of the time
20. B) Beacons
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Range: ~0.5M-60M
Cost: Medium
Accuracy: 70%-90%
Tech Level: Intermediate
Advantages:
● Always-On targeting
● Accurate short-term targeting
● Deliver interactive buying experiences
● Real-time product suggestions
Beacons have great advantages in that they are hyperlocal,
always on and always looking for “attention” since they put
out a signal hoping to connect. If opted into, the beacon can
send push notifications of a store offer, or even a product
offer on the shelf. They range in how well they target based
on the level of energy the beacon puts out. Depending on
this, beacons can cost anywhere from $10-$33 per.
Disadvantages:
● Low range capability
● Requires initial investment to buy beacons
● Maintenance
21. C) Augmented Reality
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Range: 1M-200M
Cost: Small
Accuracy: 90%
Tech Level: Advanced
Advantages:
● Augmented world
● 3D, life-like shopping experience
● Most differentiated
● Digital imagery
Augmented reality, while not technically a location based
tool, combines the best of online and offline through a digital
world. Augmented reality presents a unique and powerful
way for retailers to bring offers, digital clothes trying, and
virtual shopping into their overall customer experience.
Combine it with clever illustrations and life-like offers to
captivate and convert.
Disadvantages:
● Hard to produce
● Limited market adoption
22. D) Frictionless Payment
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Range: 10M
Cost: Small
Accuracy: 100%
Tech Level: Intermediate
Advantages:
● Less staff cost
● More purchases
● Directly connected to multiple payment methods
It’s role is to make paying for goods so efficient your
customers don’t even notice. While payments has come a
long way, it’s clunky, slow, and often leads to excessive wait
times still. Frictionless payments provides a way for
customers to assemble products in their cart and simply
swipe their fingerprint for payment is to get back to their lives.
It has enormous potential in the right use cases.
Disadvantages:
● Adoption
● Security
● Integration
24. Tips to Get Started
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There’s been quite a few new ideas and methods to utilize
omnichannel thrown in here. In this case it can seem
overwhelming to take it all on at once. With our clients if they
are not ready to combine several services for a complete
omnichannel operation, we usually start with one aspect and
test from there. The key to a good omnichannel system is that
it adapts quickly and on demand.
The First Three
Here’s a few of the best ways to begin advancing your own omnichannel
efforts.
Event: 24 Hours After Web Visit
#1 - Send an Event
Based Email to
Navigate In Store
Good Email Open Rate Range
25%-45%
Good ClickThrough Rate
7%-18%
25. Getting Started
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#3 - Migrate to
Smarter Commerce
86% of Consumers Will Buy
Online & Pickup In Store to
Save Money
79% of Consumers Will Buy
Additional Merchandise While
Picking Up an Order
#2 - Target Customers
Based on Relevant
Local Products
40% of Purchases Involve
More than one Channel
89% of customers were
retained from retailers with
the strongest omnichannel
presence
26. We’re Here to Help
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With the information provided here, the only goal, and only
way it will be of any use is if it makes a difference to you.
Many of the things mentioned here while advanced were not
explored as fully as they certainly should be. If you find you
may have questions or want to hear more about something in
particular please don’t hesitate to reach out to myself or one
of our specialists. Your omnichannel journey deserves the
right guidance, platforms, and direction, let us help you out on
that.
Omnichannel Platforms to Make
Your Marketing and Commerce Epic
Epic Commerce:
A Smarter
Omnichannel
Inventory
System
Sapphire: a simpler
website content
management and
maintenance
platform
Proximo: the
easiest way to
find and convert
customers near
your stores