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Therefore, businesses can no longer afford to sleep on designing their business around an omnichannel model. In this article, we shall continue our previous post as I discuss three ways business operators can integrate online and offline retail channels in Nigeria.
Review Your Pricing Strategy
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Uniform or erratic pricing may be a challenge for an omnichannel business. Before embracing an omnichannel technique, ensure that you perceive pricing dynamics across channels, including unit economics and profit margin.
Deploy The Right Technology
Differentiate Between Multi-channel With Omnichannel Strategies
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Omnichannel employs all available media channels and is centred around the customer, while multichannel means using more than one channel around the product or service. Multi-channel strategies attract customers in the short term, but omnichannel strategies retain customers in the long run. Therefore, the omnichannel approach is all about blending both offline and online media and seamlessly linking them to deliver a superior shopping experience to the customer.
Concluding RemarksBuilding an omnichannel business in Nigeria can longer be emphasized. Buyers are fast becoming sophisticated in purchasing culture. They easily abandon brands that don’t possess the correct omnichannel distribution pattern and drift to those that do. Hence, business owners must execute a customer-friendly and cost-effective omnichannel distribution strategy. This article pointed out three ways to seamlessly integrate online and offline retail channels. They include: implementing a reviewed pricing strategy that is customer-centric, deploying the right technology that leads to superior customer experience, and differentiating between multichannel and omnichannel to not complicate the process. Featured Image Source: Invoice NG
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