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6 Keys to Creating a Stronger Customer Experience

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6 Keys to Creating a Stronger Customer Experience


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Did you know? Retailers lose $65 billion due to poor consumer experiences.* *Retail Info Systems News, “Omnichannel Readiness Report,” October 2013 Share with your networks!


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Welcome to the New Retail Reality. Share with your networks!


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Competitors are not only across the aisle, they are also the next website over. Share with your networks!


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The Buying Process is no longer concrete and linear. Share with your networks!


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Retailers who can adapt to consumer preferences in real-time will be the most profitable. Share with your networks!


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Read these 6 Tips: To capture consumers across every stage of the buyer’s journey Share with your networks!


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THINK “OMNICHANNEL”


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49% of consumers said retailers need to integrate in-store, online, and mobile shopping channels.* *Accenture, “Accenture Seamless Retail Study,” April 2013 Share with your networks!


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All channels must be created equal, no matter how consumers choose to engage or transact. Share with your networks!


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An “omnichannel” strategy enables consumers to start, continue, and end their buying journey seamlessly. Remember this graphic? Yes we’re enabling consumers to use their own buying journey! Share with your networks!


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Consumers now expect the same answers, information, and personalized treatment. Share with your networks!


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NURTURE ADVOCATES


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Up to 15% of a business’ most loyal customers account for 55-70% of total sales.* *The Center for Retail Management at Northwestern University. Share with your networks!


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Simply relying on discounts and benefits to create customer loyalty is not the answer. Share with your networks!


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Retailers need to create mutually beneficial relationships with their customers. Share with your networks!


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Retailers need to use loyalty promotions and return incentives triggered by social, location, and in-store referrals Share with your networks!


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LEVERAGE DATA FOR ACTIONABLE INSIGHTS


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53% of respondents use Big Data, and of those companies, 43% predict an ROI of 25%+.* *Tata Consultancy Services Share with your networks!


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There’s potential revenue buried deep inside your data. Share with your networks!


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With analytics, retailers can understand what is happening both in consumers’ minds and in the market. Share with your networks!


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From top areas of customer dissatisfaction to product design preferences. Share with your networks!


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Insights from Big Data initiatives can help drive retailers’ decision making. Share with your networks!


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LET CONSUMERS CONTROL THE EXPERIENCE


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Share with your networks!


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In all lines of business, people are sharing their experiences with friends and industry peers. Share with your networks!


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Retailers must wrangle data insights from these conversations to….. Share with your networks!


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Not waste time targeting consumers in the wrong channels Share with your networks!


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Convert online insights into campaigns to drive in-store purchases Share with your networks!


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Use positive feedback to generate awareness and reward brand advocates Share with your networks!


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PERSONALIZE EXPERIENCE IN REAL TIME


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Nearly 2/3 of online shoppers would trade privacy for personalized offers from retailers.* *Accenture, “Today’s Shopper Preferences: Channels, Social Media, Privacy, and the Personalized Experience” Share with your networks!


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Consumers are like snowflakes – no two are exactly the same. Share with your networks!


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Emerging technologies allow retailers to… Share with your networks!


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Distribute relevant deals and event info when consumers are near a physical location Share with your networks!


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Offer unique discounts and pricing based on loyalty and purchase history Share with your networks!


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Simplify checkouts with one account for in-store, mobile, and online data collection Share with your networks!


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ANTICIPATE CONSUMER NEEDS


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Retailers must intimately understand how consumers interact with the brand in each channel. Share with your networks!


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They should continually seek out the answers to these questions…. Share with your networks!


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What are consumers trying to do on different channels? Share with your networks!


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How do consumers interact with your services? Share with your networks!


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Where can you serve consumers in unique and relevant ways? Share with your networks!


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So Remember……. Think “Omnichannel” Nurture Customer Advocates Leverage Data for Insights Let Consumers Control the Experience Personalize Experience in Real Time Anticipate Consumer Needs Share with your networks!


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Following these 6 Principles will help you in creating a competitive retail business in 2014 and beyond! Share with your networks!


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Learn More About Providing a Superior Consumer Experience


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