You currently have no notifications!
Close Menu
IRP Ecommerce Fundamentals (9)
IRP Ecommerce Financial Secrets (5)
Build, Manage & Grow (4)
Marketing & Acquisition (37)
Conversion & Retention (17)
IRP Analytics & Reporting (2)
IRP Research (20)
IRP White Papers (4)
Inspiration & Opinion (19)
The IRP Platform (2)
There are always more selling channels appearing

Multichannel Optimisation

The word 'multichannel', and even bolder terms such as 'omnichannel' and 'total retail' are key statements about where retail is going.

What is multichannel and why does it matter so much?

The word "multichannel", and even bolder terms such as "omnichannel" and "total retail" are key statements about where retail is going.

"Multichannel" points up the fact that there are always more selling channels appearing.

You must participate in these and begin to merge channels to maximise your sales potential.

In an IRP World sense, we define the sales channel as the actual way that an item is purchased:

  • Web sale
  • EPOS retail sale
  • Telesale
  • Mobile

We sometimes augment this to say that a Stock Control system helps to tie these channels together in a systematic way so that operational efficiency is achieved.

Separate to this but also important are marketing channels. We define the following channels for online marketing and customer acquisition:

  1. Direct
  2. Paid search marketing (e.g. pay per click)
  3. Affiliate marketing
  4. Organic search traffic (e.g. search engine optimisation and content production)
  5. Free social media marketing
  6. Paid social media marketing
  7. Email marketing
  8. Remarketing and display advertising
  9. Marketplaces
  10. Paid offline advertising
  11. Referral traffic
  12. Comparison and Review Sites
  13. Other (a catch-all category for channels that currently have no name)

Multichannel thinking

Multichannel is more than web sale, EPOS, telesale and mobile.

Multichannel thinking is based on understanding how you can maximise every touch point with a customer to ensure that you can cross-sell between channels and maximise sales.

Multichannel thinking means understanding the opportunities that exist technically within the IRP for sales.

Research shows that a multichannel customer is more valuable than an online or an offline customer. Therefore you must have a strategy to ensure that there is cross-selling between channels.

If a company is not set up for multichannel and aligned correctly, retail and web sales can be seen as competition.  It is vital that they work together and that all touches, especially with retail customers, alert the customer to the web offering.

Additional reading

You must be logged in to comment on this article. Click here to Login to the IRP World
Service Market Opening
Live Market Data
Today v Yesterday +0.02%
March 2023 v March 2022 +6.19%
YTD 2023 v 2022 +1.66%
Arts and Crafts -0.38%
Baby & Child +0.74%
Cars and Motorcycling +0.19%
Electrical & Commercial Equipment -0.21%
Fashion Clothing & Accessories -0.05%
Food & Drink +0.45%
Health and Wellbeing +0.09%
Home Accessories and Giftware +0.04%
Kitchen & Home Appliances -0.78%
Pet Care +0.07%
Sports and Recreation +0.11%
Toys, Games & Collectables -1.57%

Copyright © 2023 IRP Commerce. Use of this website constitutes acceptance of the IRP World Acceptable Use Policy, IRP World Terms of Use, IRP Privacy Policy and IRP Cookie Policy

IRP Commerce Limited, Concourse 3, Catalyst, BT3 9DT, UK. Company Number: NI 041856. VAT Number: GB 888249658
A Deloitte Fast 50 Company eight times: 2010, 2011, 2012, 2013, 2014, 2018, 2019 & 2020