The Most Important Metrics for Monitoring an Omni-Channel Sales Strategy

The adoption rate for an omni-channel sales strategy has been wildly inconsistent in the B2B world until very recently. Some companies made the transition a key part of their strategy over a decade ago, while other organizations still depend largely on their channels as separate and distinct experiences. The old paradigm is finally giving way, however.

According to a 2016 study of the B2B landscape, approximately 90% of B2B companies are at least somewhat interested in pursuing an omni-channel sales strategy. With a new outlook comes the need for some distinct metrics, as sales leaders must understand what unique benefits customers are searching for in a world built around the integration of multiple channels.

Merging Into a Single P&L Statement

The ultimate goal of implementing an omni-channel sales strategy isn’t just to add new outlets where your customers can research and purchase your product. It’s about creating a unified platform that serves your customers’ needs seamlessly as they complete their journey through your sales funnel, providing them with a superior user experience.

At this point in time, your customers expect nothing less than a well-integrated journey across multiple channels, and delivering on that expectation is paramount to succeeding in the current landscape.

With that in mind, your first step when reevaluating your performance metrics should be to create a single P&L that represents all of your channels as an integrated unit. Otherwise, separate performance results will only encourage you to continue viewing the channels as separate entities, which runs counter to the overall goal of unifying the customer experience across outlets.

On-Time Delivery Percentage

“I’m in sales,” you say. “Why should I care so much about on-time delivery percentages?” Because if your company traffics in physical products, this will end up being one of the most important factors in whether or not your customers view you as a reliable partner they can depend on time and time again.

The true value of an omni-channel strategy from the customers’ point-of-view lies in consistency and convenience. They need to believe you will deliver on the experience you have promised, and they don’t want to be forced to disrupt their channel experience by calling to confirm delivery arrangements. When surveyed, 78% of B2B customers noted that next-day delivery was the most important factor in their purchasing decision, so this is something you can’t afford to ignore.

Maximizing Revenue-Per-Lead Acquired

When evaluating your omni-channel sales initiative from a higher level, you’re going to be most concerned about three primary drivers:

• Whether prospects are able to find the channel that makes the most sense for them at the right moment
• If the experience engages customers enough to spur action
• Whether or not the channel is easy enough for people to use to generate consistent conversions

Carefully tracking your revenue-per-lead will give you a reliable indicator of whether or not your strategy is attracting the right customers, serving their needs as expected, and performing smoothly to their satisfaction.

Tracking Your Returning Customer Visits

In regards to the performance of your digital channels, all sales leaders who are engaged in creating an omni-channel strategy need to instinctively understand how important this indicator is for your customers. If your tablet app performs perfectly 999 times out of 1,000, that one time when it doesn’t could be a deal breaker for the user, even if it seems insignificant to you. By keeping a close eye on the number of customers who consistently return to a particular digital channel, you can get a sense of how well that portal is performing and serving their needs.

Overall Satisfaction With the Customer Experience

Finally, there’s no need to overthink things just because you are integrating your sales channels. The overall customer experience is still going to be the most important aspect of your relationship with buyers. Remember, you aren’t switching to an omni-channel strategy just because it will allow you to earn more revenue, you’re doing it because this is the type of experience your customers demand in a world that seamlessly blends digital and retail. If you were succeeding at delivering an exceptional experience before, then your customers will be very quick to inform you if the shift to omni-channel has not lived up to their expectations.

The post The Most Important Metrics for Monitoring an Omni-Channel Sales Strategy appeared first on AllBusiness.com

The post The Most Important Metrics for Monitoring an Omni-Channel Sales Strategy appeared first on AllBusiness.com. Click for more information about Danny Wong.

from neb biz feed 1 http://ift.tt/2o85klC
via Nebula Biz Local Loans