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Leveraging Omni-channel Strategies During Company Growth

In many industries, omni-channel development is becoming synonymous with growth. For example, an EY survey shows nine in ten industry executives believe that consumer goods firms can no longer rely on traditional sales channels to drive growth. The evolution is similar for companies in telecom and the financial industry, striving to bring that “anytime, anywhere” quality to their interactions with clients.

omni-channel

 

Omni-channel strategies drive growth by enabling higher customer acquisition, satisfaction and retention, and at the same time limiting sales operations costs.

While a brick-and-mortar growth model relies on big investments, an omni-channel growth model is often less expensive, which will be great news for your CFO. Still, you need to make sure your sales operations are ready to support this type of growth.

According to Aberdeen Research, the main element of a good omni-channel growth strategy is “the ability to have a unified view of the customer interaction history.”

Do your salespeople have access to account insights at any given moment? If not, your infrastructure and processes might need updating to capture customer data and make it circulate seamlessly.

Let’s take a look at the four main challenges your sales operations have to overcome when building a successful omni-channel strategy:

  • Accurately compensating reps. It is more and more common for a customer to switch between sales channels or devices before completing a purchase or transaction. How do you split credit when two or more reps are responsible for the same purchase? Can your  sales compensation plan keep track and reward each rep proportionally? Does your system allow deferred compensation and referrals? If not, maybe it’s time to upgrade.
  • Quickly solving disputes. You cannot afford to let reps waste time on shadow accounting or questioning the equity of their pay. You need to easily audit data, reply to inquiries, and avoid gaining a reputation for being chronically slow or inaccurate. Streamline your processes and use an integrated platform to drastically reduce the amount of time spent on solving disputes.
  • Instantly accessing product/customer data. Your reps need access to real-time customer information. Analyze the data in your compensation or dispute management system and gather employees’ feedback to identify how long it takes to access relevant data in every-day interactions with clients.
  • Using data analytics to measure the success of customer interactions across channels. Some industries, such as telecom, have already accumulated years of experience in this field. Others, like banking, are now required by regulations demanding to complement quantitative quotas with certain measures of customer satisfaction.

What about your company? Are you making the most of omni-channel growth strategies or do you feel you need to put more effort into this business area? I would like to find out about your experience and answer your questions.

Dan Mageau

Consultant

Dan puts his creative mindset to work helping organizations sell more through sales tactics innovation. With over three years of experience in sales effectiveness solutions and sales performance, he works at Optymyze as a consultant in various industries ranging from telecom to medical devices. Besides his extensive work on sales operations, he enjoys jumping in ad-hoc consulting projects such as quota setting, plan redesign implementation, and plan health assessment.

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