Today, customer demands are on an all-time high, and so is the need for a great customer experience! As customers don't take a single route to purchase; instead, they weigh their options by comparing the prices, delivery speed, reading the reviews and more. They demand fluidity between all the sales channels powered by a unified online experience and consistent fulfilment options.
This customer behaviour is compelling ecommerce sellers to make their brand presence active on multiple sales channels through multichannel ecommerce. Moreover, in this digital era, where visibility and convenience rule the ecommerce landscape, you must establish a credible, far-reaching presence to accelerate your growth.
In this blog, you'll learn what is multichannel ecommerce, and the benefits of multichannel ecommerce that can increase the chances of success exponentially.
Multichannel ecommerce is the practice of selling merchandise online on more than one sales channel. These include:
Multichannel ecommerce unfolds a variety of benefits for ecommerce sellers, such as:
Adopting a multichannel selling strategy can help you expand your reach by selling whenever your customers shop and tap into the largest customer base. Thus, you can increase your engagement points with multichannel ecommerce.
By selling on multiple sales channels, you can increase engagement with your customers. This will enable you to maximise sales opportunities and improve conversion rates.
Ecommerce brands using a multichannel marketing strategy (on 4 or more channels) see a 300% increase in ROI over single or dual-channel marketing campaigns.
Selling on multiple sales channels not only increases sales opportunities but also protects you against the risks of relying on a single sales channel. Let's take an example, one of your seller accounts gets suspended, or you start getting fewer conversions on a sales channel. In that case, multichannel selling can help you sustain on your other sales channels by diversifying the risk.
Selling on multiple sales channels isn’t always easy, but it sure is necessary. After all, the main goal of your online business is to generate more and more revenue. By selling on as many sales channels, you can ensure high visibility of your products and get the necessary brand exposure. Additionally, when you sell on more channels, more people see your brand and start to differentiate it from a sea of competitors.
By being available on multiple emerging and proven channels, you can show that they're forward-thinking and attentive to customers' needs and shopping habits. This way, you can distinguish yourself in a competitive space by shaping customer's perspective about your brand. Moreover, you can create a unified shopping experience for your customers with multichannel ecommerce. Thus, by offering utmost convenience to the customers, you can enhance customer experiences, trigger repurchases, and build customer loyalty if you consistently fulfil customer's needs.
When you sell on multiple sales channels, you can collect a wide range of data about your customers, including sales history, demographic, locations, and more. These insights can help you to analyse your sell-through rate, best-selling products, slow-moving products, sales velocity, inventory turnover, and more across channels. All this information would help you develop your sales strategy and marketing campaigns to boost your revenue.
With Eshopbox, you can sell on multiple sales channel ensuring a seamless process, including:
A multichannel ecommerce strategy for your online business benefits not only you, but also your consumers. It may seem a little overwhelming in the beginning, when you're taking the first step to sell on multiple channels. The reality is, with some expert help and outsourcing your order fulfilment, you can reap the advantages of using multichannel selling—a larger customer base, higher visibility, seamless order fulfilment, better customer experience and obviously, significant revenue growth.