Omnichannel vs Multichannel: Know the difference
Deciding what strategy works best for you, when selling a product/service whose ambition is to prevail in the market is crucial.
As the quick-service restaurant industry embraces digital transformation, the choice between omnichannel and multichannel strategy becomes a critical decision when looking to enhance operational efficiency.
Uncover the facts: Common misconception within restaurant chains’ best strategies
Multichannel strategy empowers restaurant chains to engage with customers through diverse platforms autonomously. Whether utilizing in-store POS systems, online ordering platforms, or mobile apps, each channel functions independently. While this strategy offers flexibility, it may result in fragmented customer experiences, given that data and information do not seamlessly integrate across channels.
An omnichannel strategy aims for cohesion, by integrating all customer touchpoints, fostering a seamless and consistent experience.
In the context of quick-service restaurants, this means that regardless of whether a customer places an order through a mobile app, in-store kiosk, or website, the information aligns.
This approach facilitates smoother operations and ensures a more cohesive customer journey.
How can Quick Service Restaurant chains effectively engage customers along their journey?
According to Degizuite “Fifteen years ago, the average consumer typically used only a couple of digital touchpoints when purchasing a product, and only 7% used more than four. Today customers use an average of almost six touchpoints, with 50% regularly using more than four.”
Put differently, omnichannel customers have a 30% higher lifetime value than those who buy using only one channel Restaurant chains that have strong omnichannel customer engagement see a 9.5% year-over-year increase in annual revenue, compared to 3.4% for weak omnichannel companies.
Key benefits of an omnichannel strategy…
- While there is no one-size-fits-all to an omnichannel strategy, brands can think outside the box and design unique experiences that customers wouldn’t encounter on a single channel.
- By embracing innovative solutions, quick-service restaurant chains can unlock new avenues for customer engagement and differentiate themselves in the competitive market.
- It emphasizes being present on the platform where the customer can easily interact, whether it’s in physical locations or on mobile devices.
How does the omnichannel strategy provide a reliable solution with ease, a benefit that the multichannel approach lacks?
An omnichannel strategic approach offers restaurant chains guaranteed assistance by providing a comprehensive and interconnected framework that enhances various aspects of their operations. Here’s how:
- Consistency Across Channels
- Customer-Centric Approach
- Channel Integration
- Brand Consistency
- Actionable Data Insights
- Operational Efficiency
- Measurable Metrics
- Competitive Edge
- Personalized E-commerce experience
How are customers behaving?
Furthermore, with an omnichannel strategy, your customers don’t have to rely on a single channel to order from your business.
The connectivity of the channels provides a convenient and streamlined experience and that’s the sought-after quality among customers.
Read our whitepaper"The importance of an omnichannel"for a more in-depth analysis of what an omnichannel stragey has to offer,and how you can benefit from it.Online revenue via third-party delivery platforms vs. own delivery platforms