Challenges Lynette Saunders Senior Analyst Econsultancy LynettesaundersEconsultancycom What we do Econsultancy econsultancycomtransformation 9 SUBSCRIPTION FACETOFACE TRAINING BESPOKE DIGITAL TRANSFORMATION ID: 782598
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Slide1
Digital Retailer:
Trends, Opportunities &
Challenges
Lynette Saunders,
Senior Analyst, Econsultancy
Lynette.saunders@Econsultancy.com
Slide2What we do
Econsultancy
econsultancy.com/transformation
9
SUBSCRIPTION
FACE-TO-FACE TRAINING
BESPOKE DIGITAL TRANSFORMATION
EVENTS
London
∥ New York ∥ Singapore
Slide3Agenda
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Need for digital transformation
What are retailers focusing on in 2016 and beyond?
Optimising the customer experience
Data-driven marketing a key focus
Personalising the experience
Driving the conversion
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Slide4Need for Digital Transformation
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Slide5Challenges connecting to digitally empowered consumers
Source:
Brand success in an era of Digital Darwinism, McKinsey Quarterly, February
2015,
Accenture Global Consumer Pulse Survey, 2014
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20,000 customer journeys / 1,000 brands.
Digital touchpoints - 20% annual increase.
‘Zero moment of truth’.
Delivering the right message, right time, right channel.
Slide6More than
£150bn
of retail sales are now influenced by digital, and that retailers whose services don’t meet customers’ expectations could lose more than
£12bn
a year.
Photo credit: wikimedia.org
Source: http
://internetretailing.net/2015/03/new-five-year-plan-of-investment-for-future-digital-high-street/
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Slide8How retailers are digitally transforming
Clear strategic purpose.
Focus on delivering high quality digital experiences across all devices.
Being open minded to new trends and to question the way things currently work.
Need for creative disruption and testing to see what works – win quick and fail fast.
Delivering customer-led marketing decisions, rather than business/solution-led.
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Slide9How retailers are digitally transforming
Focusing on optimising the customer experience.
Personalising the communication a top priority.
Delivering a seamless experience across all touchpoints.
Data is key to delivering future success.
Using technology to shape the retail experience.
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Slide10What are retailers focusing
on in 2016 and beyond?
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Slide11Optimising
the customer experience
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Slide1213
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Which one area is the single most exciting
opportunity for your
organisation
for 2016?
Source:
Econsultancy
/Adobe Digital Trends Survey 2016
Optimising the customer experience continues to be the most exciting opportunity for retailers.
Slide13In 2016 Customer Experience
will be among the top 10 critical success factors determining who will win and who will fail in the age of the
customer
“”
Source:
http
://
blogs.forrester.com/customer_experience
Slide1414
Econsultancy
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Over the next five years, what is the primary
way your
organisation
will seek to differentiate
itself from competitors?
Source:
Econsultancy
/Adobe Digital Trends Survey 2016
Customer-centric companies gained
43%
in performance compared to a
33%
decrease for companies who neglected customer experience.
Forrester
Slide15“Proactively
delighting customers earns trust, which earns more business from those customers, even in new business arenas
.”
“
We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”
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Slide16Econsultancy
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Customer experience…
is
the full
, end-to-end
experience.
It
starts
when you
first hear about Amazon from
a friend
, and ends when you get the
package in
the mail and open it
.Jeff
Bezos
Slide17AO.com delivering an excellent ecommerce experience through
adopting a customer centric approach
Knowing and communicating their unique value proposition.
Being truly, passionately customer centric.
Exceptional, context driven multi-device experience.
Customer service proposition is second to none.
Harnessing social proof and displaying customer satisfaction.
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https://econsultancy.com/blog/66768-ao-com-the-best-ecommerce-experience-available-online
Slide18Data-driven
marketing a key focus
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Slide19Source:
Econsultancy
/Adobe Digital Trends Survey 2016
Looking ahead five years, which one area do you see asthe single most exciting opportunity for your organisation
?
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Focus is moving towards personalised communication through data-driven marketing.
Slide20Segmenting nervous and confident buyers
Source:
Real-Time Marketing Report
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Slide21Segmenting nervous and confident buyers
Source:
Real-Time Marketing Report
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On average there is
a
26%
uplift in conversion
rate coming from real time marketing
Slide22Personalising
the experience
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Slide23Which three digital-related areas are the top
priorities for your
organisation in 2016?
Source:
Econsultancy
/Adobe Digital Trends Survey 2016
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87% of consumers want more meaningful relationships with brands.
Endleman
brandshare
2014
Slide24Engaging on a human level
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Slide25L’Oreal
Paris delivering a
personalised
experience across devices
Delivers personalised, cross-device experiences based on
preferences/user data
In theory no two users should receive the same on-site experience.
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Slide26Apps that let you see what you look like without applying products
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Slide27Shop Direct –
transforming a catalogue business
into a world-class digital retailer
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Slide28Shop Direct moves closer to goal of building the world’s most
personalised
shopping experience
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Slide29The first
personalised
video banner that is integrated with consumer data
in real-time
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Slide30Developing an easier, more engaging experience
Mobile 58% of online sales
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Slide31Driving conversions
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Slide32Most important elements of the digital experience
Source:
Digital Experience – Are Brands Meeting Consumer Expectations?
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Putting the customer at the centre and focusing on their needs.
Slide33Using your content to achieve your objectives of selling more products
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Slide34Providing customer-focused tools
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Slide35Show me…
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Slide36Using social proof and promoting products
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Slide37Walmart adding value to in-store experience
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Econsultancy
Our
investments in e-commerce and mobile are very important, as the lines between digital and physical retail continue to blur… our customers expect a seamless experience….” -Doug McMillon, president and CEO of Wal-Mart Stores
Slide38Delivery Innovation raising the bar
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Slide39Building loyal customers
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Econsultancy
Consistently
deliver a positive experience that delivers on a rational and emotional level.
Be clear what you stand for. Deliver great service every time, and fix things up where you fall short. Don’t be afraid to change the game. And remember to treat your
customers well.
High-retention brands which keep their customers engaged
recognise
that loyalty is largely based on emotion: the way you feel when you interact with a brand.
Slide40Thank you
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