How sustainable are your operations? 🌱 Today we're exploring handy tactics that'll make your business greener, leaner, and meaner – without employing the Grinch as your new head of Ops. In this week's edition of The Backorder:
- The latest findings from Google's Omnichannel Index 2024
- 5 ways to implement sustainability in your operations
- 3 essential ingredients for a successful multichannel sales strategy
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Omnichannel retail: New benchmarks set
Google, in collaboration with Impact Commerce, has released a ground-breaking new report on the state of Omnichannel Retail. Here are some of the top findings:
- 71% of consumers expect companies to understand their preferences. Google suggests that clienteling – building results-driven consumer relationships – is the key to customer loyalty in 2024.
- Only 20% of retailers currently offer 'ship-from-store'. Despite the frustration of finding the perfect problem being a top pain point for consumers, the majority of retailers have not yet implemented a ship-from-store strategy.
- 70% of customers research online before going to the store. Google suggests this is because consumers now demand a flexible, seamless shopping experience that extends beyond brick and mortar.
Read more: The Omnichannel Index 2024
5 ways to make your business more sustainable – without adding cost
The current high-cost environment has put sustainability on the backburner for many businesses. Yet with ambitious targets looming in many jurisdictions, taking action now is critical. Here are five ways to measurably (and affordably) improve sustainability.
1. Switch energy suppliers. The wholesale energy market now has ample ‘green electrons’ for sale. Multiple retailers advertise their green energy sourcing policies – and compete with each other on price. Research alternatives and switch to the cheapest option.
2. Electrify your staff fleet. If you’re going to the trouble of sourcing green energy, why not power your staff cars on it? When your fleet policy comes up for renewal choose a lower-spec electric car, and offer free charging at the office. Your staff perks package just got cheaper, too…
3. Monetise byproducts. Whether it’s selling beer mash to pig farmers or timber off-cuts as fuel, the waste that you'd otherwise pay to bury in greenhouse-gas emitting landfills can often generate you profit instead.
4. Limit staff travel. There’s no point in carefully composting office teabags all year only to wipe out all your gains with one unnecessary flight. In the age of WFH and Zoom, you can save money and cut emissions with a sensible staff travel policy.
5. Choose greener logistics partners. Sustainability can be achieved within every link of the supply chain, not just your internal operations. Whether its 3PLs or couriers, look for partners that have credible green certifications (and don’t just push the cost of doing better back on you).
On the lighter side...
The 3 key ingredients of a multichannel sales strategy
Selling across different channels is a powerful business strategy… if you do it right. The trick lies in understanding what makes it effective. To ensure success, try focusing on these three areas:
1. Seamless integration.
It’s easy to get your wires crossed selling goods through different mediums. Reliable connections between your sales channels and various business systems will prevent headaches by maintaining up-to-date, accurate customer data and financial information.
2. Real-time cross-channel reporting.
Once you’ve unified your systems, you can start harnessing the true benefits of multichannel sales. Cross-channel reporting paints a holistic picture of your business performance. This will help you understand the complete customer journey and identify your most effective channels.
3. Consistent brand experience.
Your brand is your company’s personality, so don’t let it be two-faced. A consistent brand experience across all your channels will strengthen your market position and improve customer loyalty. Think visual identity, customer service, messaging, product info, brand values…
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