The New Omnichannel

by MarketSource

Pressure from online retailers has big box stores looking into alternative revenue streams. We were reminded of this fact last week when Best Buy announced a partnership to sell solar power leases in 60 of its stores. This new Omnichannel approach breaks the mold on traditional retail and sales models.

We’ve been seeing this trend growing over the last few years. Energy companies in the 14 deregulated states have been turning to retail to increase awareness of their programs and the fact that consumers have a choice of service providers in these states. Other service related industries have tried this nationwide. Cable/internet, security, and home automation are a few industries trying to capture consumer’s attention in stores.

Service companies seem to have recognized that their traditional call in, online, and door to door methods are no longer as effective as they need to be.  This low touch / low consultative approach is being complimented by a more personal and hands on one.  Brick and mortar locations can provide a high foot traffic opportunity for services to get their message in front of consumers.

The Omni channel approach has seen a lot of success. In the beginning, service companies were looking only to the largest of the big box stores for help. Fast forward to today and you will find service companies telling their story in wireless, grocery, and small mom and pop stores. The partnership is a win/win for retailers and service providers. Service companies have the opportunity to get a personal touch with consumers and retailers can capture revenue from a channel that hasn’t yet been tapped by the large online competition like Amazon.

It isn’t surprising that 3rd party sales organizations have also found success in this new Omni channel. Energy and cable providers, that haven’t traditionally stood in stores, are reaching out to companies like MarketSource for guidance in the sea of retail. The right sales partner can empower service sales by bringing scalability and flexibility to a confusing channel, as well as insight into the retail consumer. If you are interested in learning more about how a third party can help you optimize your market, download our consultative guide below.

 

Topic: Retail

ABOUT THE AUTHOR

MarketSource designs and delivers innovative and proven sales and marketing solutions to more than 200 companies worldwide. For more than 35 years, we have been trusted by both mid-sized and large firms to accelerate their revenue growth and control costs.

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