how to improve customer loyalty in retail

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You Had Me At Hello Gaining, growing and maintaining customer loyalty in the world of personalization and social technology Becky Johns Vice President, Head of Retail & Consumer Solutions [email protected]

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You Had Me At Hello Gaining, growing and maintaining customer loyalty in

the world of personalization and social technology

Becky JohnsVice President, Head of Retail & Consumer [email protected]

©2012 MarketBridge Corp.– 2 –

2

RevenueEngines™Digital Engagement Programs

S.M.A.R.T.™Predictive Analytics Solution

Digital programs and tools to increase lead volume, quality, and conversion-to-revenues while enabling sales channels to engage customers

Sales and Marketing Analytics, Reporting and Technology to optimize campaign yield, lead-to-revenue conversion by prioritizing opportunities and personalizing interactions

World-Class Clients

Building Customer Loyalty For more than 20 years, MarketBridge has been delivering technology-enabled solutions for Fortune 1000 clients combining digital customer engagement and predictive analytics solutions to connect marketing and sales and improve Sales Associate productivity and Marketing effectiveness. Our expertise in the complete omni-channel marketing arena means that our services are strategically designed to drive traffic, focus clienteling efforts, increase customer loyalty and ultimately grow revenue.

MARKETBRIDGE OVERVIEW

OurExperience

©2014 MarketBridge Corp.– 3 –

Retail Has Reached Its Next Great Inflection Point

Three paradigm shifts will drive the future of Retail…

CONSULTATIVE

“Find the right

product for me”

SCALED

“Everything I want at

prices I can afford”

PERSONALIZED &

EXPERIENCIAL

“Find me the best

price, incorporate my

favorite brands and

make it social”

“Everything I want at

the click of a mouse”

TRANSACTIONAL

1950’s Today

©2014 MarketBridge Corp.– 4 –

END

Agenda

Retail’s New Inflection Point

Be Relevant at Every InteractionThe Problem

The Solution

Real Life Examples

Connect with Their Interests The Problem

The Solution

Real Life Examples

Democratize the Customer ExperienceThe Problem

The Solution

Real Life Examples

Parting Tips & Q/A

©2014 MarketBridge Corp.– 5 –

Consume sources of information

Your Customer is More Informed & Connected than Ever

126

of Customers are using their mobile

phones to Guide In-Store purchases.50%Oh, and…

Conduct online searches

&

On average Customers …

…prior to making a purchase

Site: Google Shopper Research 2014

©2014 MarketBridge Corp.– 6 –

Your Customer’s Experience Transcends Online vs. Offline

TRILLIONOF OFFLINE

RETAIL SPEND

IS INFLUENCED

BY ONLINE

EXPERIENCES

Site: Google Shopper Research 2014

©2014 MarketBridge Corp.– 7 –

EX

PE

CTA

TIO

NS

TIME

Your Customer’s Expectations are Increasing

©2014 MarketBridge Corp.– 8 –

END

Agenda

Retail’s New Inflection Point

Be Relevant at Every InteractionThe Problem

The Solution

Real Life Examples

©2014 MarketBridge Corp.– 9 –

!IT’S THE YEAR 2014… AND YET...

Be Relevant At Every Interaction

The Problem: We are wasteful in who we interact with and how we

interact with them.

©2014 MarketBridge Corp.– 10 –

Be Relevant At Every Interaction

The Solution: Use the power of your data to target customers at the most

granular segments that matter.

ATTITUDINAL DIMENSIONS

• Conducted quantitative survey with over 1,500 top customers and focus groups with key target segments

PERSONA-BASED MESSAGING

• Developed value proposition and messaging concepts informed by the results from the quantitative research

• Tested and validated the value proposition with identified segments

ENGAGEMENT MATERIAL

• Deployed segmentation across client databases, applying advanced predictive modeling

• 2% annual revenue lift from deploying

segmentation strategy

• Initial results showed 167% increase in leads when

using tailored segmentation messaging

Results:

©2014 MarketBridge Corp.– 11 –

Be Relevant At Every Interaction

The Solution: Focus on solving for pain points at the point of

engagement.

15 MILLION DOWNLOADS! #1 CONSUMER APP

©2014 MarketBridge Corp.– 12 –

END

Agenda

Retail’s New Inflection Point

Be Relevant at Every InteractionThe Problem

The Solution

Real Life Examples

Connect with Their Interests The Problem

The Solution

Real Life Examples

©2014 MarketBridge Corp.– 13 –

Connect With Their Interests

OF SHOPPERS SAY

THAT PERSONALIZED

EXPERIENCES

WOULD INFLUENCE

THEIR PURCHASING

DECISIONS

86%

!

The Problem: We are so focused on the sale, we forget about

who our shopper is.

.

Site: Infosys 2014 shopper Survey

©2014 MarketBridge Corp.– 14 –

Connect With Their Interests

The Solution: Understand what your customers are interested in and

connect them to what inspires them.

• Build complete digital customer profile

among current and future customers

• Identify and recruit leads (700,000) and

provide to Sales Associates

• Encourage brand affinity & decrease cost

of acquisition ($10 down to $4)

• Increase the likelihood of conversion (4x)

for existing leads

• Nurture relationships of current customers

for cross-sell & usage opportunities and

customer retention• Name

• Email

• Age

• Gender

• Address/Geography

• Impressions

• Traffic Sources

• Pageviews

• Visits & Unique Visitors

• Repeat Visits

• Visit Duration

• Bounce Rate

• Device Usage

• Browser Usage

• Click Paths

• Email Opens

• Email Clicks

• Email Client Usage

• Cost per Lead

• Comments

• Shares

• Outbound Clicks

• Appendable Information

(e.g., Lifestyle, Income)

©2014 MarketBridge Corp.– 15 –

Connect With Their Interests

The Solution: Understand what your customers are interested in and

connect them to it.

@GrownandFlown did you check out the @Discover ROI tool. What do you think? Ow.ly/y8Hde #CollegeCash

©2014 MarketBridge Corp.– 16 –

END

Agenda

Retail’s New Inflection Point

Be Relevant at Every InteractionThe Problem

The Solution

Real Life Examples

Connect with Their Interests The Problem

The Solution

Real Life Examples

Democratize the Customer ExperienceThe Problem

The Solution

Real Life Examples

©2014 MarketBridge Corp.– 17 –

!

Democratize the Customer Experience

The Problem: We continue to dictate the terms of how our customers shop with us - when we know it should be the reverse.

OF SHOPPERS SAY

IT’S IMPORTANT FOR

RETAILERS TO LET

THEM SHOP IN THE

WAY THEY WANT

Yet Only…

Percentage of Shoppers that expect

consistency in pricing Online vs. In-Store

75%

Percentage of Retailers that offer the

same pricing Online and In-store

16%

Site: Accenture Seamless Retail Study

©2014 MarketBridge Corp.– 18 –

Democratize the Customer Experience

The Solution: Allow your shoppers to shop everywhere in a

seamless manner.

Site: Wharton School of Business Case Study

©2014 MarketBridge Corp.– 19 –

Democratize the Customer Experience

The Solution: Empower your Sales Associates to build loyalty &

delight customers.

TRA

ININ

G G

AM

ESONLINE TOOLS

FLOOR MODULES

• Build loyalty-focused training path to help

Associates increase knowledge (3X) of

the loyalty program

• Increase Associate productivity (26%

increase) by keeping them on the floor

during most training, through “floor modules”

• Lift penetration from shoppers using their

private label credit cards within the Stores

• Reduce the amount of interchange paid

by enabling more customers to use the

Store’s private label credit card

©2014 MarketBridge Corp.– 20 –

END

Agenda

Retail’s New Inflection Point

Be Relevant at Every InteractionThe Problem

The Solution

Real Life Examples

Connect with Their Interests The Problem

The Solution

Real Life Examples

Democratize the Customer ExperienceThe Problem

The Solution

Real Life Examples

Parting Tips & Q/A

©2014 MarketBridge Corp.– 21 –

Parting Tips

©2014 MarketBridge Corp.– 22 –

WEBSITE

MarketBridge

Website

OUR COMMUNITY CHECK OUT

www.market-bridge.com www.digital-bridge.com

BLOG: “Building the Pond:

Taking the Long-View in Customer Engagement”

WEBINAR: “Not your Mama’s Sales

Tools: The Next Generation of Sales

Enablement”

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Becky JohnsVice President, Head of Retail & Consumer [email protected]

Thank You and Q&A