Customer Decision & Big Data: A possible Journey

April 26, 2013

Customer is king. Always. Whether in B2B or B2C settings. With much writing this week on the importance of a Customer Centric approach where B2B organizations need to develop a much deeper understanding of the modern Customer Decision Journey.

Questions have been raised as per whether Multichannel Marketing Mix approaches have been based on the right models and research to measure results.

With the hype of a report to be issued by the Council for Researchcurrently investigating measurement issues related to digital video advertising, report that in turn will form the basis of an Advertising Research Foundation inquiry into the quality of the models.

We believe it’s important to bring a combination of modeling, information and expertise to decisions “a P&G spokesman said in a statement to AdAge “We have clear evidence that marketing-mix modeling, combined with other information and expertise, has helped to improve return on investment of our marketing spending and media buying.

Beside, measurements what remains key is to reach the customer with a message which will limit the risk of ad avoidance, a phenomenon which has been noticed to be on the increase lately.

Can big data really improve the customer experience with personalized ads, products and service offerings?

For certain big data can say a lot about preferences and even location. But with constantly increasing terabytes of data, in structured, semi structured and unstructured formats. To make sense of it all is to say the least challenging.

The more so for businesses, which do not have their own platform from which to gather this data, nor the technical tools or analyst expertise to navigate and make sense of data gathered from their websites, blogs and external social platforms.

Some even ask the question whether Big Data is in reality an opportunity only for big players of the likes of Google.

What do you think?

Thanks to http://moniagalardi.com/2013/04/25/customer-decision-big-data-a-possible-journey/

 


Changes Big Data And Technology Have Brought Into The Retail Industry

April 3, 2013

There was once a time when retailers relied on large spreadsheets to keep track of things. Critical employees had to fly around in order to find the best products and maintain the best inventory. Today, the scenario is totally different. Big Data has played a large part in the changes witnessed in the retail industry.

Some have adapted well to the changes (some have even taken advantage of the changes) and some have struggled with them. Marianne Bickle (Contributor, Forbes.com), looks at some of the changes that Big Data and technology have brought about…

1. Retailers are finding it more difficult to make predictions. This might actually come as a surprise to many considering that Big Data actually empowers retailers to pinpoint what a particular customer wants. What many people do NOT realize is that it is “a two-edged sword.”

A consumer group might be lost simply because they have moved to a different mobile device which isn’t supported by their current retailer. In this case, it might be difficult to predict how many customers you’ll lose (or have lost).

2. Poor customer experience reports now spread like wild fire. It’s no longer the case of one unhappy customer telling ten other people. With social media, it could be a few millions before your company prepares an official position. There are instances of viral videos that have “hurt” businesses.

3. Trends are changing faster and businesses have many more tools that can help them gather vital information about the trends (Twitter, Facebook, email, etc).

4. It is now critical that the analysis of data provides insight into why and how consumers buy a particular product. Such analysis should also provide their demographics and psycho-graphics. Otherwise, money spent on advertisement will be a waste.

To read the rest of this article, go here…


The future of CX

December 18, 2012

This is a great video from RightNow Technologies.


Technology: The rise of interactive retailing

August 9, 2012

Retailers are increasingly enhancing the in-store experience through interactive technologies. Liz Morrell looks at what it takes to create a seamless customer journey.

The rise of online and multichannel retailing has brought the in-store customer experience sharply into focus. By tapping into customers’ shopping patterns, which are constantly evolving through the use of mobile and online platforms, retailers are working increasingly hard to entice customers into stores.

However, a focus on stores’ USP versus online-only retailers – namely physical interaction with the customer and superior in-store experiences – needs to go hand-in-hand with technology roll-out.

“Traditional retailers can compete with, and even beat, the online pure-plays, essentially because they offer the brands that shoppers want and the social contact that still defines shopping,” says Chris Donnelly, head of Accenture’s retail practice for the UK and Ireland.

Raising expectations

John Lewis has introduced self-service kiosks, Wi-Fi and QR codes, and is trying the use of iPads in shops. “Customers benefit from face-to-face customer service and the ability to feel the product, but they can also access our online channel to view products not available in store and arrange a delivery that suits them,” says John Lewis head of omnichannel Karen Dracou. “Customers are increasingly using a mix of shops, online and mobile and as a result we need to constantly adapt and evolve.”

Fashion group Aurora is also adapting rapidly. The use of iPads has been integral to the design of its new flagship stores for Oasis and Coast in London’s West End, and the devices are now being rolled out to further stores.

The iPads are being used as tills, customer service points or stock finders. “Using the iPad, we can offer a seamless and efficient shopping experience,” says Oasis retail director Bridget Lea. “We can open up our complete stock file on the sales floor for the customer to see, we can also search for a product in store or across the business and offer home delivery if an item isn’t available.”

A number of retailers are also using mobile devices to make the payment process more efficient, and for queue-busting – Aurora, Hamleys Regent Street and Beaverbrooks for example.

“IPads are considerably cheaper than traditional till points. Also, their mobility allows us to transact across all areas of the sales floor,” says Lea.

But sales are not the sole driver of in-store technologies – they can also smooth customer experience. “Sometimes our customers want to see how they look from the front and back in the fitting room and we take pictures for them or can even email it to their friends to get approval,” says Lea. “We also provide iPads at our seating areas allowing customers to browse the web or catch up with friends on Facebook and Twitter, bringing social media into the store environment.”

When retailers bank so significantly on in-store connectivity to boost customers’ experience, considering usability and the store’s design is vital. Lee Broom, the interior designer responsible for the look of the recently launched Coast, said the integration of iPads as payment devices was integral to the new store’s look. “As Coast is an occasionwear brand and offers a more high-end retail experience, it was about creating an experience that was more like checking out at a hotel. So things like cash desks were made to look as simple and clean as possible,” he says.

Video content

Apart from iPads, more traditional modes of in-store entertainment such as video still play a role but they too are evolving. Dharmendra Patel, managing director for Europe for PlayNetwork, is working on the UK launch of Victoria’s Secret. He says the retailer’s New Bond Street store will include customised video content such as streamed fashion shows, and that content for its sub-brand Pink will include QR codes to allow customers to engage. “That helps to develop the experience of a relatively new brand,” he says.

Opinions on the effectiveness of QR codes enhancing the customer experience are mixed. Tim Greenhalgh, chief creative officer of design consultancy Fitch, says they must be used in more innovative ways. “We are ready for the next generation. If I am going to take the time to scan a code, then don’t just send me off to your website,” he says.

For example, Marks & Spencer’s recently launched mobile app includes a QR code reader that allows customers to access additional content, from product reviews to suggested food-to-order menus, by scanning codes on in-store signage.

Kiosks have also moved on. For retailers such as Tesco andArgos they are used as stock finders and range extenders but other retailers use them to allow customers greater interactivity with products. M&S’s Style Online, for example, allows customers to browse, build and order outfits via in-store touchscreen ordering points or an iPad-armed style adviser. “The new technology provides a more inspirational shopping experience and helps bring a wider product offer to smaller stores too,” says a spokesman.

Customer inspiration

Makeover tools are also popular way in providing inspiration to customers. Homebase’s Create your Own Look tool – available online and in its Aylesford store – lets customers upload pictures of their rooms and virtually try out paint, flooring, tiles and wallpaper.

Nails Inc’s in-store touchscreen in Harvey Nichols in London takes such functionality one step further. As well as ‘try it on’ technology that allows customers to visualise applied nail polish, customers can create a personalised polish that can be produced and gift-boxed in half an hour. “With the revamp of Nail Inc’s ecommerce website, we wanted to bring the offline and online worlds closer,” says Helen McCall, account director at Tangent Snowball, which designed the system.

Getting the new approach to the in-store experience right is vital, stresses BT Expedite chief technology officer Steve Thomas, who is responsible for the iPad strategies of a number of leading retailers, including Aurora. “It’s about trying to take as much of the information you can get online into the store so that it’s more of a shared experience rather than simply staff standing behind a till,” he says.

Michelle Du-Prât, insights director at Household Design, points out that the store is becoming a key service touchstone and staff will play “an increasingly important role” as services such as reserve-and-collect develop further. “Integrating innovative services as a valid part of the shopper journey and not an add-on is essential to store format development going forward,” she adds.

But Greenhalgh warns retailers not to go over the top. “Don’t focus on the technology – focus on the seamless experience rather than having lots of individual experiences,” he advises.

Those that do think of the bigger picture will get closer to omnichannel retailing in the true sense of the word – and their customers will thank them for it.

http://www.retail-week.com/technology/technology-the-rise-of-interactive-retailing/5039046.article


Mobile technology in retail

January 20, 2012

Interesting study on how in-store assistive sales technology affects the shopping experience:

The latest installment of the Motorola Solutions, Inc. annual Holiday Shopping Survey highlights that three in four 75 percent surveyed retail associates and managers feel they provide a better in-store customer experience when equipped with the latest mobile technologies. In fact, shoppers echoed a similar sentiment as more than two-thirds 67 percent of surveyed shoppers reported heightened satisfaction with retailers where in-store associates utilized the latest technologies to assist in the shopping experience.

The rising availability of shopping-assisted options across all shopping channels has raised customer service expectations for shoppers and retail associates. According to the survey, more than eight in ten 83.3 percent surveyed retail associates and managers believe that shoppers can easily find a better deal so customer service is more important than ever. From a shopper perspective, 33 percent of shopping trips ended with shoppers leaving before satisfying their intent to purchase, costing an average of $125 per trip. Of those lost opportunities, more than 73 percent did not complete their purchases with the original retailer.

The study goes on to compare the online experience vs. the offline, in-store experience:

While shopper activity and spend remains higher in-store than online, retailers need to continue to address the needs of the omni-channel shopper. Online purchases swelled by more than 18 percent compared to 2010 and 63 percent of surveyed shoppers with smartphones downloaded some type of shopping application.

Increasing online spend has created variances in satisfaction between offline and online experiences – almost 41 percent of shoppers were not satisfied with the ability to receive in-stock status in-store compared to 20 percent online. Approximately 27 percent of shoppers were not satisfied with the ease of finding correct prices in-store versus approximately 14 percent online; and 42 percent of shoppers were not satisfied with the check-out process in-store compared to 15 percent online. Online shoppers cited a much higher dissatisfaction rate 41 percent compared to 25 percent for the return/exchange process, providing a significant advantage for in-store retailers.

via 75 Percent Of Retail Associates Report Latest Mobile Technology Leads To Better Customer Experience, According To Motorola Solutions Survey – TheStreet.


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