What is OMO?

Online Merges with Offline (OMO). It is considered a strategy and competitive mechanism in the e-commerce market which connects a wide range of data with one another regardless of whether they are online or offline, and then visualize them in order to integrate them under a single control.

Ideally, businesses from time to time re-examine how their resources and competencies are arranged for the short-, medium- and long-term to seek to benefit from growth opportunities despite the outbreak, thereby achieving “leapfrog” growth, as savvy consumers are becoming increasingly fastidious and expect a tailored, personal shopping experience. Modern day consumers expect to be able to shop anywhere, at any time, and from any location. On top of that, consumers are thorough in searching for the right price and expect multiple, flexible delivery options.

However, the operation challenges faced by brick-and-mortar retailers and players in the food and beverage industry, including economic slow-down, upgrade in digital consumption, new industry norm and the rise of on-line and mobile shopping are not easy to deal with. Internet has become increasingly popular and e-commerce is developing rapidly helped by incessant innovation in payment technology and elevated efficiency in logistics and distribution. It appears to have lagged behind the pace for retail companies to transform into an operation with full distribution channels. Incomplete logistics facilities and inconsistent quality of logistic services have imposed difficulties for e-commerce with regard to logistics distribution and this has hindered the development of OMO business model.

The Omni-channel opportunity in the OMO business model: Unlocking the power of connected data

Integrating ERP for omni-channel success is the key.

Companies must be attentive at each stage of the customer journey — discovery, research, purchase, support, customer service and returns, and building an ongoing relationship. Simply put, omni-channel is about meeting customers wherever they are and providing excellent service at every touchpoint, including:

    • Brick-and-mortar stores
    • Over the phone
    • Branded websites
    • Online marketplaces such as eBay, Shopify or Amazon, Taobao, Shopline, HKTV Mall, Pandamart, yahoo, MOMO, 91APP etc.
    • Mobile apps
    • Mobile messages, chats and push notifications
    • Social media
    • Email
    • Catalogs and other mail-order options

The top selection of cloud ERP like Oracle NetSuite eliminates siloed touchpoints and makes the entire customer experience a personalized, effortless journey. The core elements of a cross-channel framework include:

Completeness of data: Omnichannel experiences take into account all current and past customer interactions and purchases and the plethora of information available from sources including website cookies, social media activities, email lists and Internet of Things (IoT) data.

Automation: An omnichannel platform uses that data to automatically generate marketing content, recommend products, provide customer service, manage inventory and handle other related activities — all in real-time.

Communication: There is an unfettered, two-way interaction between customers and companies via websites, apps, email, phone and in-store interactions, all informed by complete data.cloud erp oracle netsuite reatail food beverage solution automation ecommerce payment inventory

With omnichannel and OMO strategy, channels aren’t just parallel to one another but synced. Companies can guide the customer journey more effectively by tailoring marketing content, upselling corresponding goods and services and preemptively overcoming objections.Once the customer is ready to buy, omnichannel allows them to do so on whichever platform they’re currently using, eliminating a detachment point that could make them lose interest or be scooped up by a competitor engaging in retargeting.And even if they pause at this point, a cross-channel system allows businesses to reengage customers via email, text, mobile push notifications and website pop-ups to remind them of pending cart items or products they’ve recently viewed. Customers can then pick up where they left off, even if it’s on another channel. This makes the purchase process seamless and is one of the most significant benefits of omnichannel strategies over other approaches.

Benefits of Omnichannel

retail food beverage industry ecommerce payment finance strategy benefits omni channel OMO O2O

How to Implement Omnichannel and OMO model?

A cross-channel program needs three key things: consistency across channels, engagement with customers and effectiveness in meeting business objectives. Achieving this trifecta involves a cross-channel strategy that incorporates some critical elements.

Customer experience focused

One of the most significant aspects of a cross-channel approach is how omnichannel benefits customers — but businesses must understand their customer’s needs. From there, they can determine how, where and what elements of an omnichannel plan deliver the most value while meeting those needs.

Accurate inventory

Omnichannel requires a comprehensive, bird’s eye view of a business’s entire inventory, both in-store and online stock. Everyone — retail store staff, order fulfillment, accounting and more — needs the ability to access this real-time information from every channel and business department. A sound inventory management system is necessary here to track each in-store, online and in-app purchase, returns and items that have timed out of carts and adjust inventory counts accordingly in real-time.

Data-driven decision making

With these deep inventory insights, customers are constantly receiving accurate information. And just as important, this data enables internal company stakeholders to make confident business decisions.

That means integrating data from several sources, including:

  • Customer relationship management (CRM) software
  • Marketing databases
  • Email lists and social media interactions
  • Ad and website traffic analytics
  • Inventory management systems that minimize manual inventory updates

Deliver An Omnichannel/OMO Experience With NetSuite

It’s nearly impossible to gain a full understanding of your customers’ interactions and preferences when your customer, order, inventory and financial data is stored in separate, channel specific silos.

Introv x NetSuite Omnichannel Retail Solution empowers end-to-end omnichannel commerce that seamlessly connects ecommerce to order management, inventory, merchandising, marketing, financials and customer service, which delivers real-time visibility into critical information with a unified data set covering financials, inventory management, order management, warehouse management, procurement, manufacturing and assembly, and omnichannel sales, etc.

And by adopting the NetSuite unified cloud-based system, you will have lowered IT costs, no upgrade implementation like you used to have on the legacy system. It on the other hand gives you flexibility to streamline your business, manage multiple channels and improve the customer experience easier than you may imagine. The solution paves a clear path to success and is proven to deliver rapid business value and get your business live on NetSuite in a predictable timeframe.

Best value software for business of all sizes

Are you ready to turbo-charge your business? No more juggling of separate software applications and wasting time and resources customizing, maintaining and upgrading a hairball of software applications. NetSuite helps you manage your business end-to-end with one integrated business suite for all your core business processes including ERP, CRM, POS, etc for growth and sustainability.

Get in touch with us now. Let us listen to your pain points and we will design the best system for you to grow your business.

Source:Oracle NetSuite

中文版本:OMO 是什麼? 電商「零接觸」商機 虛實融合的新零售模式

Related articles:
Retail/Food and Beverage/Wholesale Hybrid Solutions: Features in mobile ERP applications
Omnichannel strategies: Embracing the E-commerce Revolution in Taiwan, Hong Kong and the Pacific

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