Shopper Marketing Insights for Retailers
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Transcript of Shopper Marketing Insights for Retailers
Intelligent Customer Engagement™ Suite
Shopper Marke+ng Insights for Retailers
September 11, 2014
Right Channel, Right Message. Right Now
@CapillaryTech
Private and Confiden=al 2
Rusty Warner Principal Analyst Forrester Research
Shopper Marke+ng Insights for Retailers
Richard White Advisor to Capillary
Technologies
Janet Jaiswal VP of Marke=ng
Capillary Technologies
@CapillaryTech
Private and Confiden=al 3
• Introduc=ons • The Age of the Customer • Big Data • Case Studies • Key Takeaways • Q & A
Agenda
@CapillaryTech
© 2014 Forrester Research, Inc. Reproduction Prohibited 4
The age of the customer Obsession and context
© 2014 Forrester Research, Inc. Reproduction Prohibited 5
We have entered the age of the customer
› Age of the customer — a 20-year business cycle in which the most successful enterprises will reinvent themselves to systematically understand and serve increasingly powerful customers
Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report
© 2014 Forrester Research, Inc. Reproduction Prohibited 6
Customer obsession: A customer-obsessed enterprise focuses its strategy, its energy, and its budget on processes that enhance knowledge of and engagement with customers and prioritizes these over maintaining traditional competitive barriers.
Marketing has a new remit: context.
How context changes marketing
BEFORE CONTEXT: AFTER CONTEXT:
• Campaigns
• Targeting
• Customer segmentation
• Media schedules
• Messages
• Transactions
• GRPs and CPMs
• Interactions
• Engaging
• Customer recognition
• Customer moments
• Utility
• Value exchanges
• Minutes of engagement
Source: April 14, 2014, “The Power Of Customer Context” Forrester report
8
© 2014 Forrester Research, Inc. Reproduction Prohibited 9
The customer life cycle is contextual…
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
Customers are exposed to the initial trigger that will lead them
to a new need or repeat purchase of an existing need.
Customers research your brand and product
— and their other options.
Customers go through the purchase process and
complete the transaction.
Customers take possession of their purchase, which includes initial and ongoing impressions
of it.
Customers reach out to get service or help with a
purchase.
Customers connect with brands for nonservice reasons across
multiple channels.
© 2014 Forrester Research, Inc. Reproduction Prohibited 10
…And interactions depend on insights
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
Insights Interactions
Private and Confiden=al 11
• Lack of capabili=es to manage and analyze “Big Data“
• Inability to execute relevant, =mely & channel-‐specific communica=on
• Inability to measure the value through incremental sales
• Lack of support from senior management
• Overcoming the previous organiza=onal mindset
Poll #1 : In your opinion, what are the main barriers for marketers to overcome in the shiH towards customer-‐driven marke+ng? (You can select more than one)
@CapillaryTech
© 2014 Forrester Research, Inc. Reproduction Prohibited 12
Big data Analytics in the age of the consumer
© 2014 Forrester Research, Inc. Reproduction Prohibited 13
› Serve the needs of contextual customer experiences
› Dig deeper for predictive insights
› Understand the role of real-time digital data
And enables a shift from: › Analytics production to consumption and activation
› Static analysis to dynamic, real-time intelligence
› Experts to casual users
Big data uproots traditional analytics and offers opportunities to:
Source: April 22, 2013, “The Consumerization of Customer Analytics” Forrester report
© 2014 Forrester Research, Inc. Reproduction Prohibited 14
Less than 15% of data used for business intelligence (BI)
A data evolution is underway
Source: May 28, 2014, “Big Data’s Big Meaning For Marketing” Forrester report
© 2014 Forrester Research, Inc. Reproduction Prohibited 15
Big Data: Emerging business practices and technologies that close the gap between the amount of data available and your ability to use it for business insight
© 2014 Forrester Research, Inc. Reproduction Prohibited 16
Big data in the modern world
© 2014 Forrester Research, Inc. Reproduction Prohibited 17
Big data in the eyes of marketers
© 2014 Forrester Research, Inc. Reproduction Prohibited 18
Base: 701 North American data and analytics decision makers Source: Business Technographics Global Data And Analytics Survey, 2014
Time for marketing to reset on big data
© 2014 Forrester Research, Inc. Reproduction Prohibited 19
The big question…
“How can big data help me delight my
customers?”
© 2014 Forrester Research, Inc. Reproduction Prohibited 20
A matter of perspectives…
Source: June 19, 2014, “How Analytics Drives Customer Life-Cycle Management” Forrester report
© 2014 Forrester Research, Inc. Reproduction Prohibited 21
Drive value across the life cycle
Source: June 19, 2014, “How Analytics Drives Customer Life-Cycle Management” Forrester report
© 2014 Forrester Research, Inc. Reproduction Prohibited 22
Analytics across the life cycle
Source: June 19, 2014, “How Analytics Drives Customer Life-Cycle Management” Forrester report
Private and Confiden=al 23
• Building reports that surface ac=onable insights • Don’t have the team members with the right skills to leverage the data
• Limited budget to install necessary technology • Limited team capacity to priori=ze • Culture doesn’t embrace data
Poll #2: What are the primary hurdles to successfully leveraging data in your marke+ng organiza+on? (check all that apply)
@CapillaryTech
© 2014 Forrester Research, Inc. Reproduction Prohibited 24
Retail case studies From insights to customer experience
© 2014 Forrester Research, Inc. Reproduction Prohibited 25
› Tracks both shopper and item-level data
› Secures shoppers beyond loyalty program
› Provides insights to small suppliers
› Enables shopper-focused assortments
› Defines individual, adaptable store planograms
© 2014 Forrester Research, Inc. Reproduction Prohibited 26
› Established a big data sandbox to unearth shopper insights
› Designed a social media program to leverage shopper content
› Developed even more personalized shopping experiences
› Recognized as a destination retailer
› Focused on customer experience
© 2014 Forrester Research, Inc. Reproduction Prohibited 27
› Providing seamless access to ANN INC. brands
› Complementing wear-to-work and special occasion styles with affordable, effortless styles via Loft
› Focusing on various shopper roles and redefining business strategy – “EVOLVING WITH HER”
› Combines shopping data with social media
› Creates more actionable shopper segments
› Enriches the shopping experience with insights
> 38% increases in campaign response rates with only a 14% increase in communications
> Won Loyalty & Engagement Awards for "Best CRM Strategy" and "Best Use of Relationship Marketing (B2C)“
> Won CMO Asia Award for "Best Use of Marketing Communications”
Private and Confiden=al 28
> Increased its repeat visits per month by 15+%
> Realized a 5% increase in same store transaction growth (SSTG)
@CapillaryTech
> Obtained customer insight through real-time dashboards and reports
> Created campaigns that increased incremental sales per individual (achieved 4x campaign target)
> Realized 130% ROI on margin within 3 months > Modified loyalty program to increase visit frequency
Private and Confiden=al 29
“Merely having an incredible data capturing mechanism does not mean business decisions can be taken effec=vely. Capillary’s ability to predict future performance helps us take important and reliable business decisions.” –Sumesh Bhat, Business Head
@CapillaryTech
Private and Confiden=al 30
• Too much Big Data – don’t know how to handle it all
• The complexity of omni-‐channel marke=ng • Measuring and delivering marke=ng ROI • Delivering =mely, personalized communica=ons
• Adjus=ng company mindset & budgets to 1:1 communica=ons
Poll Ques+on #3: What do you believe are some of the biggest challenges facing marketers today? (select all that apply)
@CapillaryTech
Capillary Technologies Intelligent Customer Engagement
Company Overview
Private and Confiden=al
Challenges Capillary solves
How can I improve my Marketing ROI?
?
How can I retain more customers? ? How can I increase my cross-sell / up sell revenue through personalization?
?
How can Store Associates better engage customers in the store? ?
What can I do to increase revenue? ?
How can I bring more people into my store?
? How can I get my customers to increase their Average Basket Size?
How can I market to my omni-channel customer most effectively?
? How can I identify my most loyal customers? And manage my loyalty program?
?
How can I improve my marketing campaign results? ?
?
32 @CapillaryTech
Private and Confiden=al
What can I do to increase revenue? ?
How can I retain more customers? ? How can I increase my cross-sell / up sell revenue through personalization?
? How can I improve my Marketing ROI?
?
How can I bring more people into my store?
?
How can Store Associates better engage customers in the store? ?
How can I get my customers to increase their spend?
How can I market to my omni-channel customer most effectively?
? How can I identify my most loyal customers? And manage my loyalty program?
?
How can I improve my marketing campaign results? ?
?
The Capillary Value ! Built for retailers only ! Integrated, mul=-‐channel loyalty ! Integrates with most leading POS ! Real-‐=me customer analy=cs ! Complete customer engagement plaaorm ! Data integra=on across channels for key insights
33 @CapillaryTech
Private and Confiden=al
Our solu+on is focused on the Retail industry
34 @CapillaryTech
Private and Confiden=al
Typical customer results
3%-‐5% Same Store Growth
10% Customer Frequency
15% Average Bill Value
3-‐5X ROI on Margins
30% Customer Reten=on
Rate
35 @CapillaryTech
Major Focus • Customer big data analy=cs • Loyalty program management
• Campaign management • Store clienteling • Omni-‐channel engagement
Global Exper+se
150+ customers 10,000 stores 100 million consumers
Privately held company with 350 employees across 7 offices in US, UK, UAE, SA, AUS, APAC and India
Customers
About Capillary Technologies
36 Private and Confiden=al
Awards & Accolades
@CapillaryTech
Private and Confiden=al
Key Takeaways
Build a customer engagement intelligence plaaorm – Turn big data into business insights to understand all of your customers – The insights will enable relevant and personalized interac=ons
37 @CapillaryTech
Idea=on: Set realis=c expecta=ons – Start small with a pilot and take a learnings-‐based approach
Marke=ng to shoppers who are increasingly sophis=cated and demanding is not easy
– They need the right message at the right =me through the relevant channel
Implementa=on: Deliver success & then expand rapidly – Measure results and then incorporate into all marke=ng programs across channels
Rusty Warner Principal Analyst Forrester Research
hjp://www.forrester.com/Rusty%20Warner
Richard White Advisor to Capillary Technologies
Janet Jaiswal VP of Marke=ng
Capillary Technologies [email protected]
Complete feedback to receive the Customer Intelligence White Paper
@CapillaryTech Private and Confiden=al