Delivering Omnichannel: From The Back-End To The Front-End and Beyond
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Transcript of Delivering Omnichannel: From The Back-End To The Front-End and Beyond
Delivering Omnichannel: From The Back-‐End To The Front-‐End And Beyond
Presented by Session sponsored by
#RetailCCS
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About CCS 2013
ü 5 Webinars, 4 Days
ü Sessions covering Store
Ops, X-Channel, Loyalty,
Big Data & more
ü Featuring industry
analysts and consultants
ü Free for Retail executives
www.retailtouchpoints.com/special-connected-consumer-series-2013
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About Retail TouchPoints
ü Launched in 2007
ü Over 28,000 subscribers
ü To provide executives
with relevant, insightful
content across a variety
of digital medium
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Panelists
Debbie Hauss Editor-In-Chief
Retail TouchPoints
MODERATOR
Larry Freed President & CEO
ForeSee
Casey Shea Retail Business Development
Manager UXC Eclipse
INNOVATING ANALYTICS: COLLECTING & INTEGRATING THE DATA TO SUCCEED IN OMNICHANNEL RETAILING Larry Freed, President and CEO, ForeSee
[email protected] t: @larryfreed
Innovating Analytics @LarryFreed
Leveraging Customer Experience for Business Success
Increase the Velocity of Growth ► Customer Retention ► Customer Upsell ► Acquire New Customers
► Through marketing ► Through word of mouth
Allocate finite resources with higher precision, bigger impact and minimum waste Win more business than competitors
Innovating Analytics @LarryFreed
The Evolving Consumer
Lower Switching Costs Consumer in Charge
Innovating Analytics @LarryFreed
If you aren’t measuring Customer Experience…
• Poor investments and missed opportunities
• Disappointing channel outcomes at the expense of overall brand
• Internal disconnects exposed to your customers
You risk:
86% of leaders place Customer Experience as their TOP strategic priority.
--Forrester
59% of large companies have ambitions to be industry leaders in customer experience within three years.
--Temkin Group
The CUSTOMER EXPERIENCE has emerged as the single most important aspect in achieving success for companies across all industries.
--Peppers and Rogers Group
@LarryFreed Innovating Analytics
STATUS QUO IS NOT ENOUGH
Innovating Analytics @LarryFreed
Tracking behavior is backward looking
Status Quo: Behavioral data
Next Generation: Voice of Customer
Innovating Analytics @LarryFreed
Listening to feedback alone can be misleading
► Feedback direct to the company and via Social is dominated by extreme opinions
► This results in chasing the squeaky wheel and ignoring the silent majority
Status Quo: Behavioral data Opt-in Feedback
Next Generation: Voice of Customer VOC Measurement
► Social media chatter and feedback companies receive directly via e-mails or phone calls is focused on the ends of the spectrum
► chasing ‘squeaky wheels’ & ignoring the ‘silent majority’
Social feedback
Innovating Analytics @LarryFreed
Siloed metrics provide limited insight
Status Quo: Behavioral data Opt-in Feedback Siloed, Single Channel
Next Generation: Voice of Customer VOC Measurement Integrated, Multichannel
Traditional Metrics are
Single Channel only
Consumers are multi-channel, multi-device
@LarryFreed Innovating Analytics
THE NEXT GENERATION CUSTOMER EXPERIENCE ANALYTICS
Multi-channel Integration Innovation
►
Innovating Analytics @LarryFreed
48% Multi-Channel
m. site
m. app
The Multi-Channel Customer Experience
52% Single Channel
Data Source: ForeSee Q3 Top Brands Research
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Data Source: ForeSee Q3 Top Brands Research
m. site
m. app
48% Multi-Channel
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Check it out! Just got a great deal on a Samsung 46 in LED Smart TV at Target! Just in time to enjoy #BowlGames
Eric Feinberg
Retweeted by Sarah Allen-Short
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
The Multi-Channel Customer Experience
Innovating Analytics @LarryFreed
False Positives, False Negatives
Behavioral Reality
SUCCESSFUL MULTI-CHANNEL, MULTI-DEVICE EXPERIENCE
► Natural Web Search
► Cart Abandonment
► Mobile Site Abandonment
► Successful Social Media Recommendation
► Successful Research Experience
► Successful Mobile Companion Experience
@LarryFreed Innovating Analytics
THE NEXT GENERATION CUSTOMER EXPERIENCE ANALYTICS
Multi-channel Integration Innovation
►
Innovating Analytics @LarryFreed
Next Generation Customer Experience Analytics: Integration
Integrated Metrics
= Better Metrics
= Better Business Decisions
= Better Customer Experience
= Better Corporate Performance
@LarryFreed Innovating Analytics
THE NEXT GENERATION CUSTOMER EXPERIENCE ANALYTICS
Multi-channel Integration Innovation ►
@LarryFreed Innovating Analytics
Innovation: Introducing the Word of Mouth Index The Next Generation of Net Promoter Score (NPS)
Innovating Analytics @LarryFreed
Leveraging Customer Experience for Business Success
Increase the Velocity of Growth ► Customer Retention ► Customer Upsell ► Acquire New Customers
► Through marketing ► Through word of mouth
Innovating Analytics @LarryFreed
Leveraging Customer Experience for Business Success
Increase the Velocity of Growth ► Customer Retention ► Customer Upsell ► Acquire New Customers
► Through marketing ► Through word of mouth
à Net Promoter Score (NPS)
Innovating Analytics @LarryFreed
What is NPS
How likely are you to recommend us to a friend or colleague?
1 2 3 4 5 6 7 8 9 0 10
Detractors Passives Promoters
NPS = % Promoters - % Detractors
Innovating Analytics @LarryFreed
NPS Positives
► The importance of the customer
► The power of positive word of mouth
► Easy and simple for company leaders to understand
► Rallying the entire organization around the importance of the customer …low hanging fruit
Innovating Analytics @LarryFreed
NPS Fundamentally Flawed: Assumes Non-recommenders = Detractors
1 2 3 4 5 6 7 8 9 0 10
Detractors Passives Promoters X
Innovating Analytics @LarryFreed
Likelihood to recommend
Likelihood to discourage
Word of Mouth Index (WoMI)
Positive Word of Mouth True Promoters®
Negative Word of Mouth True Detractors®
Innovating Analytics @LarryFreed
Word of Mouth Index (WoMI)
Promoters Detractors
NPS = Recommend % of 9s and 10s
Recommend % of 1s - 6s
True Promoters
True Detractors ® ®
Recommend % of 9s and 10s
Discourage % of 9s and 10s WoMI =
Innovating Analytics @LarryFreed
Word of Mouth Index (WoMI)
Implemented new question:
“How likely are you to discourage someone from doing business with this company?” November 2011 to May 2013
1,600,000 275 427
Gallup Poll: Fewer Americans Now View Their Income Taxes as Fair
1,005 April 4-7, 2013
Harris Poll: Confidence in Congress Stays at Lowest Point in
Almost 50 years
2,060 April 9-17, 2012
Pew Poll: Big Generation Gap at the Polls is Echoed in Attitudes
on Budget Tradeoffs
2,511 Nov. 28 to Dec. 5, 2012
Innovating Analytics @LarryFreed
NPS Overstates Detractors
On average, NPS overstates detractors:
Data Source: ForeSee Q3 Research
780%
Innovating Analytics @LarryFreed
1143% 810%
759% 561%
Financial Services
Consumer Packaged Goods Computers/Electronics Manufacturers
Retail
479% 309%
B2B
Automotive
NPS Overstates Detractors
Data Source: ForeSee Q3 Research
Innovating Analytics @LarryFreed
WoMI True Detractors vs NPS Detractors
NPS-Defined Detractors: 22% WoMI-Defined True Detractors: 1%
overstatement
2100% NPS-Defined Detractors: 10% WoMI-Defined True Detractors: 1%
overstatement
900%
NPS-Defined Detractors: 10% WoMI-Defined True Detractors: 1%
overstatement
900% NPS-Defined Detractors: 17% WoMI-Defined True Detractors: 3%
overstatement
467%
Data Source: ForeSee Q3 Research
Innovating Analytics @LarryFreed
WoMI + NPS = Better Metrics
Innovating Analytics @LarryFreed
Founded in 2001, a heritage of technology, innovation and scientific rigor
Next Generation Customer Experience Analytics
Utilizing multi-channel predictive analytics in the measurement and analysis
of the customer experience
radically changing the way critical investments and decisions
are made, leading to a competitive advantage
Innovating Analytics @LarryFreed
ForeSee cx360 Platform C
OM
MU
NIC
ATION
VI
SIB
ILIT
Y
Prioritization
Visualization
Benchmarking
Voice of Customer Measurement
Predictive Analytics
Integration
ForeSee Customer Experience Analytics Platform
Innovating Analytics @LarryFreed
Some of the Companies We Measure
1/2 of the Fortune 100 ● 1/2 of the Top 100 Retailers 6 of the Top 10 Banks ● Over 90% Customer Renewal
Over 700 customers ● Over 1000 active measures Over 95 million surveys collected ● Over 80 industry benchmarks
Innovating Analytics @LarryFreed
Takeaways
1. You cannot manage what you do not measure
2. If you’re not measuring the customer experience you’re operating in the dark
3. Measure from the customers’ perspective – not just the organization’s
4. Consumers are multi-channel, your measurements and analytics need to be
5. Keep innovating and moving forward in order to stay ahead
Larry Freed President & CEO ForeSee
(734) 205-2555 [email protected] Twitter: @larryfreed www.foresee.com
Unless conventional merchants adopt an entirely new perspective – one that allows them to integrate disparate channels into a single, seamless omnichannel experience – they are likely to be swept away. Successful companies will engage customers through omnichannel retailing: a mashup of digital and physical experiences.
Harvard Business Review, Dec. 2012
Enabling Retailers to deliver the complete
shopping experience
Realize the future of retailing
today
Why Microsoft in Retail?
Greater than the sum of its parts
The Complete Shopping Experience Personal
from mass merchandise to
personal merchandise
Seamless
from the company’s channel to my channel
Differentiated
from standard to standout
Connected without compromise
What they want – how, when, and
where they choose
Personally Relevant
Increase employee productivity & effectiveness
Agile & Opportunistic
Anticipate Trends & Capitalize on Opportunities
Stores
Catalog Kiosk
Mobile
Consumers Corporate Accounts
Web
Microsoft Dynamics AX for Retail
Omni-channel Retail Brick and Mortar, eCommerce (incl. Storefront, 3P marketplaces, search and social) and mCommerce
( FIS / FAST)
eCommerce
Dynamics for Retail
Store Front Social
Store Systems / POS
Store Server
Web Service Interface
Retail Server
MPI / Sites
3P MP Search
Customer Phone
Product Catalog / Omni Channel Enrichment
Merchandizing / Assortments / Pricing Promotions / Targeting
Customer Loyalty Management
Core Operations BI / Data Mining
Supply Chain Management Warehousing Logistics
Intro to UXC Eclipse
}
}
Service is the differen.ator that sets us
apart. We offer our customers genuine
respect and invest .me in understanding
their business goals and strategies. David Weiner CEO, UXC Eclipse North America
Service and Support • Customer service focus is to exceed expectaMons
• “Customer for life” philosophy • 24 x 7 x 365 support from dedicated team • Focused Account Management team • 97% customer retenMon rate
Quick Facts • Established in 1986 • Leading AX for Retail Microso\ partner
• 1 of the top 3 Microso\ Dynamics partners globally
• Inner Circle member for Microso\ Dynamics (Top 1%)
• Over 400 staff supporMng 1,400 global customers
• Publicly owned, UXC Limited
Revenue
FY 02
FY 13
}
}
Dynamics AX for Retail
Howard Tafler, Chief Financial Officer, DAVIDsTEA speaks about the decision to choose Microsoft Dynamics AX 2012 for Retail:
“We needed an efficient end-to-end system that could help us better integrate our retail processes, as well as provide accurate, store level data to facilitate better decision-making. The solution also had to offer sustainability and scalability to accommodate our growth.”
Howard Tafler Chief Financial Officer – DAVIDsTEA
Read the full DAVIDsTEA case study at www.uxceclipse.com
Retail Customer Case Study
DAVIDsTEA is a US and Canada mulM-‐channel retail organizaMon focused on the sale of tea and tea related products. Since their opening in 2008, the business has expanded to over 80 stores, and they plan to end the year 2012 with upwards of 140 stores. Tea and accessories are available in store locaMons across Canada, online and select locaMons in the United States.
• Microsoft Dynamics AX for Retail
• Integrated Omni-Channel E-Commerce
• Advanced Demand and Allocation Planning
• Advanced Workforce Management
• Ability to rapidly expand into new markets
• Increase customer visibility
• Ability to forecast and budget enterprise needs
• Faster growth
• Rapid growth in multiple countries
• No single source of the truth
• Inability to forecast demands, product and people
Customer Business Challenge Solution Customer
Results/Benefits
More Modern More Mobile More Global Visit Booth # 2703 to learn more
Kick-off NRF in style by attending the Opening Night Reception at the Marriott Marquis Times Square Sunday Jan 12 5:30 – 7:30 pm
Follow all the action live on Twitter and Facebook @msretail FB.com/MicrosoftforRetail
BIG !deas Session: Become a Dynamic Retailer and Make Sure You’re Ready for What’s Next Monday Jan 13 3:15 – 4:15 pm
#RetailCCS
Help us Support RetailROI at NRF this year…
Schedule a meeDng with UXC Eclipse at NRF and aIend it, and UXC Eclipse will donate $25 to RetailROI. The Purpose of the Retail Orphan IniMaMve (RetailROI) is to raise awareness and provide real soluMons for the more than 400 million vulnerable children worldwide. Visit www.retailroi.org for more informaMon. To schedule a meeMng, send an email to [email protected] with the subject line NRF MeeMng.
#RetailCCS
Q & A // Panelists
Debbie Hauss Editor-In-Chief
Retail TouchPoints
MODERATOR
Larry Freed President & CEO
ForeSee
Casey Shea Retail Business Development
Manager UXC Eclipse
#RetailCCS
Xbox One Giveaway
Enter to win an Xbox One by attending at least two sessions (live or on-demand) from this week’s webinar series!
*Visit the contest rules page for more information.
#CCSeries13
Thank You For Joining Us
www.retailtouchpoints.com/special-connected-consumer-series-2013
This marks the end of this Connected Consumer Series!
Download and view all on-‐demand sessions at: