March 18, 2019

Omnichannel Is Not A Strategy

Omnichannel is not a strategy. It's an optimization tactic, an important part of the Optimization component of the Great Eight, but it is not a strategy.

Strategies grow brands ... reference Amazon if you're curious about what a strategy looks like.

From 2013 - here's Macy's plan for omnichannel dominance (click here). How did that work out? Since the article was written, Macy's generated $2.5 billion less in annual net sales than they generated six years ago. That's what happens when you put all your chips on one tactic within the Optimization category of the Great Eight without having an overall (compelling) strategy.

The New Marketing Leader needs to have a comprehensive plan for each category within the Great Eight.
  • Audience.
  • Awareness.
  • Acquisition.
  • Welcome Program.
  • Anniversary Program.
  • Optimization Program.
  • New Merchandise.
  • Winning Merchandise.
Omnichannel has nothing to do with merchandise. It has nothing to do with an Anniversary Program that has several key events each year (think Amazon Prime Day or Nordstrom Anniversary Sale). It has nothing to do with a credible Welcome Program that quickly converts the customer to a second purchase. 

It "could" help with customer acquisition.

It "could" generate awareness, though it's a lousy way to run an awareness program.

It "could" resonate with your Audience, though if it did, sales would greatly increase instead of decreasing by 10% over time.

The New Marketing Leader has answers for each category within the Great Eight ... of which Omnichannel is a tiny, TINY component.

You have a comprehensive program encompassing the Great Eight, correct? Right??

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