Subscription-based purchasing models are gaining steam, offering features that merchants and customers alike can appreciate. Customers like the convenience, time-saving aspects, regular and predictable deliveries of the products and services they enjoy, and the perception that they're getting a good value by subscribing instead of making repeat individual purchases.
For merchants, the advantages of getting customers to sign up for long-term commitments are obvious, and the line of communication that a subscription keeps open affords plenty of opportunities for up-selling.
More and more, merchants are finding ways to apply a subscription model to what they've already been selling.
As customers introduce more smart devices into their homes, those devices are becoming increasingly capable of managing their own subscriptions for refills, filters, and other necessary parts.
Omnichannel marketing can be an effective tool for gaining subscribers, especially for businesses that offer both single-purchase products and subscriptions. An in-store or online purchase of a product for which you offer a subscription refill program could trigger advertisements for that subscription which are delivered to that customer by email or on the website or mobile app.
If a customer uses the website or app to look for a subscription-eligible product that's out of stock, you can use that information to advertise a subscription to that customer, since automatic deliveries would prevent them from having to worry about whether or not the product is in stock when they run out in the future.
How omnichannel marketing lets you get personal
Increasingly, customers are seeking out personalized products and services. Millennials and younger customers, who grew up on the internet and have grownentirely accustomed to brands engaging more directly with them and tailoring their outreach and marketing to their interests and expectations, represent a key demographic for most businesses right now, and they don't have time for companies that won't meet them where they're at.
Offerings based on previous purchases, geographic location, personal information, and individual preferences are the best way to loosen up spending dollars from this savvy and discerning generation of customers.
Being recognizable and having a strong reputation won't be enough in itself for a brand to earn the loyalty of younger customers.
Millennials are far more likely than any previous generation to research products and services online before making a purchase, even a relatively small one.
While most retail merchants know how important having a website is in the internet age, many of them don't realize that for younger customers, a website without detailed information about and reviews of the products and services a business offers isn't much different from having no website at all.
Even retail merchants who don't engage in eCommerce would benefit from tying their inventory into their website so customers can see what's available and in-stock, and tying together what a customer viewed and searched for online and what they actually bought, where possible, can allow you to advertise to that customer in a more targeted way.
While millennials and younger customers appreciate targeted advertisements, they also appreciate having some control over them. While the idea was pioneered by social media, the option for customers to click a button to say that an ad isn't relevant to them or that they dislike it can allow any business to more effectively tailor their advertising to each individual customer.
Omnichannel marketing across the internet of things
One of the fastest-growing
It's already possible to place orders for the things you need just by asking your smart speaker device, but retailers have yet to fully exploit all the possible ways this new technology can be used to engage with customers, advertise, and seamlessly integrate their marketing into a voice-driven platform that differs greatly from radio, television, and online ads.
Voice recognition is going to spread to other devices as well, not just smart speakers specifically designed for that functionality. Comcast already has cable boxes that respond to voice commands, and further devices and appliances will follow. If you need to reorder detergent, wouldn't it make sense to tell your washing machine to take care of that for you?
As more voice channels open up between the devices customers use every day and retailers on the back end, the companies that are poised to step in early and lead the way in delivering voice-activated shopping solutions will have a tremendous advantage when it comes to building trust and confidence among customers.
How omnichannel affects the future of eCommerce
We can expect all of these trends to connect with each other in many ways in 2021 and beyond.
- The subscriptions that customers will most gravitate to will be the ones that are personalized for them, rather than one-size-fits-all solutions.
- Data that helps companies create personalized solutions for customers will come from information provided through voice-operated technologies.
- Customers that place orders through smart speakers will want to be able to review, modify, and track those orders by pulling them up on their phones or tablets.
That's a lot of eCommerce threads to pull together, but companies that want to thrive in the coming year and beyond will have to rise to the challenge.
FAQ
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