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The Relation Between Data and the Customer Experience

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Presentation from NRF 2019 Retail's BIG Show and NRF Foundation Student Foundation
Sherry Egerton, Director of Customer Success - ACEO Retail - 1
Ian Holland, VP, R&D, Professional Services, ACCEO Retail - 1
Scott Pearson, CEO, Curator Retail Consultant

Publié dans : Commerce de détail
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The Relation Between Data and the Customer Experience

  1. 1. The Relation Between Data and the Customer Experience
  2. 2. Today’s Speakers: Moderator: Mrs. Sherry Egerton, Director of Customer Success – ACCEO Retail-1 Panel: Mr. Ian Holland, VP, R&D, Professional Services – ACCEO Retail-1 Mr. Scott Pearson, CEO – Curator Retail Consultants The Relation Between Data and the Customer Experience
  3. 3. Why is Customer Experience the New Competitive Advantage?
  4. 4. Why is Customer Experience the New Competitive Advantage? • It’s not just about offering a better product, a better price, a better place or even a better promotion. • Consumers want speed, selection, service, experience, and price—well…they want it all.
  5. 5. Studies have shown that there is a direct correlation between the customer experience and revenue growth.
  6. 6. The message is clear to retailers: Ignore Customer Experience at your own risk
  7. 7. Why is making the connection between Data and Customer Experience so important?
  8. 8. Why is making the connection between Data and Customer Experience so important? Data insight allows retailers to: • Shift from being reactive to proactive • Develop a customer experience strategy • Offer personalized and frictionless service across all channels
  9. 9. How can retailers unlock the power of data to offer more contextualized and personalized experiences?
  10. 10. How can retailers unlock the power of data to offer more contextualized and personalized experiences? • In order to deliver great customer experiences technology needs to empower retailers to make informed and strategic business decisions • Build a strong technology foundation that will allow large volumes of structured and unstructured data across applications and channels
  11. 11. How can retailers unlock the power of data to offer more contextualized and personalized experiences? Data needs to be: • Real-time and unified • Easily accessible • Instantly actionable
  12. 12. Data insights: • Drive better business decisions & operations performance by identifying trends, patterns, and customer behaviour • Strategic decisions - Improve inventory forecasting, better assortment of product and availability, optimize supply chain & fulfillment, CRM, clienteling, machine learning, AI • Shift from the mindset “Inventory of Product” to “Inventory of Customer”
  13. 13. Why are so many retailers still struggling to leverage this intelligence?
  14. 14. Why are so many retailers still struggling to leverage this intelligence? • Customers are a retailers main asset • Shift from the mindset “Inventory of Product” to “Inventory of Customer”
  15. 15. Retailers struggle to obtain a single view of the customer from a single integrated source of truth, preventing them from understanding, predicting and anticipating customers’ needs. Fact!
  16. 16. Why are so many retailers still struggling to leverage this intelligence?
  17. 17. It is estimated that three quarters of companies are not able to act on most of the data they collect due to disjointed systems and data integration issues. Fact!
  18. 18. Customer experience is a journey, not a destination. So even with a clear vision of what the ideal CX should look like and a clear CX strategy, you’ll still have to experiment, measure and learn from what worked and what didn’t to continuously adapt to customers’ evolving expectations. Conclusion
  19. 19. • Shift from being reactive to proactive • Establish unified, clear and real-time data • Build a customer experience strategy Actionable takeaways from this session:

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