Search Results for: omnichannel

Omnichannel Couponing Drives CEM Success - Part 2

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… was a breeze, not only because I’d prior experience with the bottle but also due to the detailed instructions that PayTM was able to print on the sachet.
As with the bottle, PayTM faced a challenge in the couponing process with the sachet. The solution it used in this case was to trigger a hop to the phone channel.
By following the omnichannel approach to couponing, I’m sure PayTM has improved the success rate of its CEM campaigns. While I can think of a few areas of improvement – e.g. print the coupon on the outside surface of

Omnichannel Couponing Drives CEM Success - Part 1

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Barring a few exceptions like Dollar Shave Club, consumer brands still don’t sell their products directly to people who use them. Instead, they use the traditional multi-tiered distribution channel comprising distributors, wholesalers and retailers. Ergo they don’t know their end consumers.
How do brands overcome the “anonymity” challenge, reach out to end consumers and engage with them? As we saw in Whose Customer Am I?, that’s a marketing best practice.
Enter Customer Engagement Management.

Customer Engagement Management is a new genre of software that enables a brand to connect with its end consumers and treat them …

Leading Insurer Boosts Sales With Omnichannel CRO

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Here’s our latest success story:
Leading Insurer Boosts Sales
Omnichannel CRO increases conversion of browsers to buyers
This leading insurer uses integrated marketing to drive sales of its automobile, health, and other general insurance products. Traditional marketing comprises of ads in newspapers, bus shelters and so on. Digital marketing includes banner ads, SEO, etc. QR codes are used to transition prospective customers from physical to digital media. GTM360 recommended an array of omnichannel Conversion Rate Optimization techniques to the company. By implementing them, the insurer expects to increase conversion of readers / website visitors to customers. Read more>>>

Omnichannel Fiasco #2: M-PESA

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In Omnichannel Fiasco #1: Standard Chartered Credit Card, I’d described a recent omnichannel experience that started well but went downhill soon thereafter.
In this post, let me describe another omnichannel experience that was a fiasco from the word go.
This was with Vodafone M-PESA mobile wallet.
When M-Pesa was on the drawing board, my company was invited by Vodafone UK headquarters to bid for developing the solution. Although the MNO subsequently did the work inhouse, my early involvement with M-Pesa piqued my curiosity in the mobile payment service that went on to enjoy cult status in …

Omnichannel Fiasco #1: Standard Chartered Credit Card

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I recently went through two omnichannel experiences, one that started well but went downhill thereafter, and another that was a disaster right from the beginning.
Before I deep dive into my experiences, here’s a quick working definition of omnichannel:
Omnichannel is where a single business process is deliberately split across multiple channels so that each channel does what it’s really good at and every channel hop appears natural to the customer.
Shopping behaviors like ROBO (Research Online Buy Offline), Showrooming (Research in store and buy online) and ROMBOW (Research On Mobile, Buy On Web) are a few examples …

From Multichannel To Omnichannel & Beyond

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Over the years, my background in IT marketing and product management has brought me close to the subject of how a software should be extended to new channels. I can recall at least five occasions on which I’ve been involved with spec’cing channel support in the past 15-odd years:

ERP in Branch Office in the mid ’90s
Internet ERP in the late ’90s
Electronic Bill Payment in the mid ’00s
Mobile Banking in the late ’00s, and
Social Media Sales and Customer Support in the last one year.

On each occasion, the initial expectation of the market …

Jumping On The Omnichannel Bandwagon – Part 3

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In Part-1 of this blog post, we’d described multichannel banking. In Part-2, we’d introduced the concept of omnichannel retailing. In this concluding part, we’ll explain what omnichannel behavior could mean in the context of retail banking and suggest ways by which banks could jump on to the omnichannel bandwagon even if they didn’t / couldn’t fix shortcomings in their current multichannel offerings.
Research is showing increasing customer tendency to hop channels even to complete a single transaction. This forms the bedrock of omnichannel banking and can be attributed to the perception by customers that …

Jumping On The Omnichannel Bandwagon – Part 2

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In Part-1 of this blog post, we introduced the concept of omnichannel banking and explained how it differed from multichannel banking. We’d claimed that 100% multichannel support was neither necessary nor practical. In this Part-2, we’ll explain why.
While banks have traditionally viewed their relationship with customers through the prism of channels, customers don’t necessarily share that perspective. Customers just want to get the job done in the most convenient and secure manner possible. Besides, according to the recently published World Retail Banking Report 2011, “…customers view the branch and internet as having different strengths …

Jumping On The Omnichannel Bandwagon – Part 1

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Enough and more has been written about how banks lack fully fledged multichannel support. For the uninitiated, a “channel” refers to the medium of communication between customers and businesses such as retail banks. Branch, Phone (call center), ATM, Internet Banking, Mobile Banking and Social Networking are typical channels in the context of a retail bank.

“Multichannel support” means the bank permits a given transaction to be executed via more than one channel whereas a bank offering “fully fledged multichannel support” allows end-to-end execution of each and every transaction on each and every channel without forcing the customer to …

Leading Universal Bank Cuts Compliance Cost

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Here’s our latest success story:
Leading Universal Bank Cuts Compliance Cost
CRO Multiplies Conversion Of Website Visitors To Aadhaar Seeders
To comply with the government’s “Aadhaar Seeding” regulation, this leading universal bank in India needed to seed bank accounts with customers’ Aadhaar details. In this pursuit, the bank executed an omnichannel campaign targeted at its customers. Run via SMS, email and sign-on banner on the bank’s Internet Banking portal, the goal of the campaign was to drive Aadhaar Seeding by retail and business banking customers. After running the campaign for a few months, the bank failed …