Having looked at how to grow your business by expanding your customer base and product range, this third chapter examines how to build further growth by expanding the ways in which you sell to your customers.
Maximising channels increases your chances of reaching, and converting, the customer and has become the norm for many. “We have seen an evolution where retailers have moved from ecommerce to multichannel to omnichannel and now it’s just commerce and you have a single channel that manages commerce,” says Kevin Murray, Managing Director at Greenlight Commerce.
Whilst a business that combines multiple channels gives you the greatest opportunity to reach the customer it is also the most complicated business model to operate.
Key takeaways from chapter three:
- Support channel expansion with sufficient resources and beware of overstretching your business.
- Look at the role of marketplaces at expanding coverage in domestic markets as well as testing international demand.
- Ensure you are making the most of the mobile opportunity.
- Make your online / offline experience seamless so the channels are complementary rather than conflicting.
- Don’t forget your customer not present channels too – customer service and returns – which can also make or break business growth.