Retail Marketing 2017 - Jeffrey Hau, PRIZM
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1) Omni-channel retailing aims to provide a seamless shopping experience for customers across online, mobile, and in-store shopping channels by having inventory and customer information synchronized across all channels. 2) Transforming the customer experience requires integrating the customer's experience across channels and simplifying payments by using a common customer identifier and transaction history across channels. 3) Retailers must revamp their CRM systems, marketing campaigns, store operations, supply chains, and associate incentives to operate effectively in an omni-channel environment focused on knowing the customer from any contact point.
Retail Marketing 2017 - Jeffrey Hau, PRIZM
- 1. BEHIND THE BIG WORDS: SOCIAL MEDIA, DATA AND E-COMMERCE Jeffrey Hau
- 2. EVOLUTION OF ONLINE RETAIL MARKETING Email Marketing Rise of Search Engines Social Networks Cross-ChannelMulti-ChannelSingle Channel One-Way Marketing Omni-Channel Internet of Things Traditional Channel
- 3. For Customers For Retailers/Marketers WHAT IS OMNI-CHANNEL?
- 4. Consumers think of online, in-store or mobile shopping as a single experience, and so must businesses.
- 5. Customer searches for items online and make a purchase Site is in sync with store database and tell customer the expected pick up date Customer arrives at store already with associate knowing their profile OMNI-CHANNEL SALES FLOW
- 6. Television Web Contact Center Mobile Email Website banner AD Website provides product info Call center calls the customer User calls call center to confirm selection pay via mobile Customer subscribe to email to know more User check email to review order MULTI-CHANNEL SCENARIO
- 7. Television Web Contact Center Mobile Email Retargeted AD Responsive Website that suggests & provides live chat help Directs Customer to call center for further information Sends SMS with product info to remind the user Final confirm and fill in on detail regarding service + order Authenticate & pay via mobile OMNI-CHANNEL SCENARIO
- 8. TRANSFORMING THE CUSTOMER EXPERIENCE
- 9. TOKENIZATION, OMNI-CHANNEL THRU PAYMENTS Integrating shopper’s experience, and simplifying the payment process in the future A common token to identify the customer, allowing a single view of all transactions across channels
- 12. Bringing the in- store experience to the online environment OMNI-CHANNEL CASE STUDIES
- 13. CTO • Enhancement of the CRM • Regulatory and security issues • Revamp of EPOS CMO • Knowing the customer from any contact point • Loyalty program revamp • Maximize in-store experience • Budget re-allocation and revisit marketing campaigns COO • Adjust existing profit target scheme and incentive models • Associate to be ready for fast pace, flexible environment • Supply chain and inventory management THE PERSPECTIVES AND TO DO LIST
- 14. IS SOCIAL INEFFECTIVE OR JUST INVISIBLE?
- 16. The COST of going from good content to WOW is HIGH Maintaining it would be even more difficult Facebook Ad MechanismLimited Marketing Budgets Creative Limits MAINTAINING ENGAGEMENT IS COSTLY
- 17. The sectors that we are interested in THE SOCIAL MEDIA FUNNEL
- 18. The sectors that we are interested in THE SOCIAL MEDIA FUNNEL
- 19. Existing CRM Facebook/ Social Media Campaigns What are we solving? Building a unique profile in the CRM for each customer based on their interactions & behaviors • Entity Analytics • Preferences • Trends • Estimated next purchase Raw Data Processed Data • Email • Phone number • Site visit history • Selection & clicks Influencer Reward Program
- 20. DATA FROM SOCIAL
- 21. Customer Profile details on social media Graduation 2009 Get Marry 2008 2011 2012 2016 2005 First House Have First Kids New House Plan to Have 2nd Kids? Any Insights? LIFE COURSE OF A USER
- 22. SOLUTION Shopping experience personalization Interactive campaign initiated Social media platforms integration Tracking capability enhancement
- 23. WHAT WE HAVE BUILT
- 24. EXISTING CHALLENGE Fails to draw connection between ads to sales ADS TRACKING TOOLS know exactly which ad leads to conversion To maximize the efficiency of ads and hence ROI optimize ad placement strategy CONVERTING FROM SOCIAL ADS
- 26. Carousel Ads CONVERTING FROM SOCIAL ADS