Omnichannel origination and member engagement are the future of the banking industry. Providing a seamless experience across all banking channels is critical for credit unions (Saccos) of all sizes. Adapting to meet the changing demands of retail and commercial members will determine which credit unions will both survive and thrive in the years to come.
Saccos must ensure that members can interact with their organization through a cross-channel experience that is seamless and hyper-personalized; by meeting both retail and commercial prospects where and how they want to be met, Saccos can deliver a truly modern experience for members and employees alike. Saccos that recognize these trends and react accordingly will be in a better position to connect with new audiences and embrace the future with confidence.
According to TechTarget, omnichannel is an approach to sales, marketing, and customer support that seeks to provide customers with a seamless and unified brand experience, regardless of which channel they use. The organization’s distribution, promotion, and communication channels are well-integrated in the back end, so regardless of whether the customer is shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store, their experience will be seamless and consistent.
A good example of an omnichannel experience is when a customer walks into a store and finds an outfit she likes. However, it is not available in her size. She orders online from a tablet in the store and has it delivered to her home.
Most customers have a preferred channel when interacting with and purchasing from a brand. Many use more than one channel along their customer journey. For example, customer A may research a product online, purchase it in-store, and sign up for email marketing to receive product updates or new offers.
Regardless of preference, the omnichannel approach ensures that their purchase experience is always consistent and frictionless. This may mean providing them with the same products and pricing across all channels so they always know what to expect from that brand.
Omnichannel retail is about providing shoppers with what they want and when and where they want it. Organizations need rich and accurate data that marries customers’ online habits with their offline behaviours.
