Download - 6 Steps To Keep Pace With The Omnichannel Consumer

6 Steps To Keep Pace With The Omnichannel

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About Retail TouchPoints

ü  Launched in 2007

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Panelists

Heidi Chapnick CEO

Channalysis

Debbie Hauss Editor-in-Chief

Retail TouchPoints

MODERATOR

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Technology Invades The Shopping Experience

of consumers use some type of technology when they shop.

of shoppers use three or more technologies while shopping.

Nearly

Source: Winning Over the Empowered Consumer: Why Trust Ma5ers, IBM

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Social Media Facilitates More Efficient Shopping

of shoppers believe they can save Lme by using social media recommendaLons to help them make purchasing decisions.

Source: Winning Over the Empowered Consumer: Why Trust Ma5ers, IBM

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Steps To Achieving Omnichannel Retail Success

ü Ensure product availability across all channels (50%)

ü Develop an omnichannel markeLng and promoLons plan (31%)

ü Establish omnichannel performance metrics (25%)

Retail leaders are taking the following strategic acLons to provide similar brand experiences across all channels:

Source: 2012 Omni-‐Channel Retail Experience, Aberdeen Group

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The Omnichannel Retail Leader

Macy’s, Saks and other leading retailers are assigning senior management to Omnichannel Ltles. Keith Campbell, SVP of Merchandise Planning for Saks, has been named Group SVP for Merchandise Planning. He will:

Source: Saks Chairman and CEO Stephen Sadove, in a Women’s Wear Daily arLcle

“lead the omnichannel vision for merchandise planning and allocaLon to maximize inventory across channels and drive profitable volume growth.”

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Let’s Hear From The Experts

“It is no longer efficient to leverage disparate prices, products and policies. I don't think you can draw those lines around channels anymore because it alters the customer experience.”

-‐ Larry Freed, Foresee Results

“C-‐level execuLves are saying ‘omnichannel’ and using it in their vocabulary, but they really don’t know how to truly achieve omnichannel,” Chapnick said. “They don’t realize that they need to change their infrastructure and get the right skill sets in place to obtain a single, cohesive view of all content and commerce across all channels.”

-‐ Heidi Chapnick, Channalysis

OMNI Channel Six Steps To Success

From Cross Channel to MulL Channel to Omni Channel … the ‘buzz’ word

may change, but it is all about INTEROPERABILITY

11 Heidi Chapnick/Retail TouchPoints

The Six Steps: Cri:cal Path Towards OMNI Success

12 Heidi Chapnick/Retail TouchPoints

Execu:ve Engagement

The fundamental pillar of pivoLng towards success is to have ALL employees operaLng in unison, based on the strategy set by the execu:ve team

Do you Have Execu:ve Alignment In Your Organiza:on For OMNI?

q Does the mission and vision statement of your enterprise menLon different channels?

q Are the corporate goals and bonus structures focused on OMNI? q Do you have a fully integrated work stream or are you siloed by funcLon or

department? q Do you need to restructure your organizaLon for success? DO IT q Does your cap-‐ex funding and resources reflect the future of OMNI capabiliLes?

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In rowing, if everyone is not aligned to the same direcLon, you’ll be off course quickly

Heidi Chapnick/Retail TouchPoints

How are you using data? q  What analyLc programs are you using to capture data? q  Do you have an analyLcs team? q  How do you know what good looks like? q  Do you have a single view of the customer data between all channels? q  What acLons are you taking based on your data? q  How are you measuring changes?

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The Science of ROI & Analy:cs

If every decision is not based on data, you are in trouble.

Do You Know How To Use The Data? q  Needs assessment – next criLcal step q  External landscape analysis by channel q  Create acLonable steps to use data to drive decisions


Are All Of Your Systems Integrated Across All Touch Points? q  How are IT work efforts prioriLzed? q  Be transparent -‐ ImplementaLon and IntegraLon should not be ‘dirty’ words q  Invest in the integraLon of your back end. Customer service, databases and storage of

customer informaLon q  Balance high ROI iniLaLves with customer demands (which may have lower ROI) and

prioriLze phased implementaLons

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IT Engagement Modeling

Invest in the integra:on of your backend to create a single view of the customer across all systems

Create Governance Processes q  Become a collaboraLve team with intense focus on process ,procedure and approvals q  Collaborate and develop a roadmap that outlines key prioriLes across the enterprise q Manage what you create (you may need internal or external resources)


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Opera:onal Execu:on / Employee Engagement

Opera:onal Execu:on: q  Strategy is already set … now land the dismount with perfect execuLon q  Failure to execute will dilute results q  How are you measuring and monitoring progress?

Employee Engagement: q  Do you have the right talent in place? q  Provide support and on-‐going training to stay on top of changing landscape q  Engage all channels to support OMNI q  Create OMNI channel goals across the enterprise q  Develop incenLve programs that focus on OMNI channel iniLaLves and results


Marke:ng Ini:a:ves: q  Do you start with the customer needs first and then develop your markeLng strategy? q  It’s all about relevance to the customer. Are you using data to make your markeLng

relevant? q  Stop worrying about what budget the money is coming from for each iniLaLve; rather build a

holisLc and shared budget which encompasses all channels q  The channel is up to the customer, but they need to know that you support all channels

equally and with the same value q  Cross funcLonal teams – break down the siloes q  Ensure that markeLng materials focus on the brand, not the channel q  How many email lists do you have? How many databases house customer informaLon?

Evaluate your markeLng iniLaLves by enterprise goals, not specific channel goals. Keep specific channel goals, but also have goals and objecLves that cross departments.

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Marke:ng

Develop marke:ng plans that are fully integrated across all channels


What Do Customers Really Desire? q  It’s all about convenience! Customers demand to interact with your

brands in mulLple channels q  Integrate customer service across channels .. FULLY q Need a single view of the customer across channels -‐ the holy grail q Engage your customers in every channel they encounter your brand q  Integrate Voice Of Customer tools (Customer Feedback,

RecommendaLons, Social Media, RaLngs and Reviews, Store Heat Mapping)

q Use customer data to build your roadmap and future funcLonality

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Customer Centricity

Is the customer at the center of everything you do?


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Wrap Up

Ask Yourself … q Do I have the right execuLve engagement and alignment and direcLon and

am I invesLng in the evoluLon of an OMNI channel enterprise? q  Are we basing our prioriLzaLon and roadmap and other decisions on data? q Are all of our IT platorms integrated to provide a single view of the

customer? q Am I flawlessly execuLng the strategy and engaging all employees? q Do I have a fully integrated markeLng strategy across all channels? q Have I developed a customer centric enterprise?


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Q&A / Panelists

Heidi Chapnick Channalysis

[email protected]

Debbie Hauss Retail TouchPoints

[email protected]

MODERATOR

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