Along with all of the inherent benefits for both retailers and consumers (increases in profit margin, enhanced convenience, expanded markets, etc.), there are also some byproducts of the omnichannel world that are viewed with suspicion: namely the fear of big data and concerns over consumer and employee privacy. As with most revolutionary ideas in our increasingly complex world, nuance is our friend. It’s neither correct to shun omnichannel technology over unfounded fears nor to embrace it blindly without working on a proper implementation and growth strategy. Here are 5 reasons why omnichannel, and investing in this technology, is helpful and not creepy.
1. Don’t fear big data just for the sake of it
Security is on everyone’s minds lately, and for good reason. This has led many CEOs to favor a policy of distrustfulness toward big data in the name of protecting their customers. The motive comes from a benevolent place, but this strategy is likely to result in the market leaving them behind, and it’s difficult to provide value for your customers and employees once you’ve become irrelevant.
Instead, consider putting big data to use for your omnichannel strategy in a way that specifically makes sense for your organization. Devise a solution wherein omnichannel technology and big data create a better buying experience for your customers and also empower your employees to deliver an exceptional service experience.
2. Investing in the technology still pays dividends
If your company has been reluctant to embrace the world of omnichannel retailing, it’s probably unwise to mount an expensive technological overhaul right out of the gate. However, if you don’t begin to shift portions of your budget to tech development, you may find that the train has departed the station while you’re still deciding if you want a ticket. As with most serious investments, you want to purchase the best you can afford, not necessarily something that will overwhelm your asset to debt ratio and leave you playing catch up.
3. Earn the trust of your customers, and you’ll be surprised how forthcoming they can be
In most cases, customers want to see you embracing omnichannel technology, but they also want to know that their privacy and security are being taken seriously. This process takes some time, but the great thing about the new retail environment is that customers will want to share data with you if they know it’s being handled properly. Show them how important their security is to your core business process, and not just with empty platitudes. Investing in proper security protocols, and working with partners you trust will go a long way toward a mutually beneficial relationship with big data.
4. Embrace the “omni” aspect of it all
Most of the focus has been on how new technology has opened things up for the mobile world, but a true omnichannel strategy needs to go beyond that. Companies are discovering how digital technology can transform the in-store experience for customers, and it’s giving players that were once afterthoughts a leg up on new entrants.
5. Everyone will soon have the technology; it’s how you use it that will set you apart
The widespread implementation of omnichannel technology is now a foregone conclusion. The digital revolution has opened new possibilities for everyone, from single-employee shops to Fortune 500 players, and remaining stuck in the analog era due to concerns about big data won’t cut it.
While the technology itself can no longer be counted as a strategic advantage, how you put that technology to work for your customers will drive your value proposition going forward. The engineers and designers of Dialexa don’t settle for ordinary. We want to help take your technology solutions beyond what you thought possible and develop products that will enhance your core business processes and ensure your success in an omnichannel world.To learn more about omnichannel, including what you don't know about beacon technology (but should), click the image below.