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Transition to Omnichannel

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Meeting consumer expectations and business goals through forward thinking and strategic planning

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Transition to Omnichannel

  1. 1. 1 Meeting consumer expectations and business goals through forward thinking and strategic planning Transition to Omnichannel
  2. 2. Contents • Defining Omnichannel • Best Practices for Omnichannel Migration • Impacts to Supplier Set • Case Studies 2CONFIDENTIAL
  3. 3. 3 Defining Omnichannel
  4. 4. What is Omnichannel? Distinct commerce and communication channels blending into a single, all-encompassing model Consistent data available from all sources Consumer is connected 24/7 Role of store and online presence is changing 4W. Capra - CONFIDENTIAL
  5. 5. Omnichannel spans retailer type 5W. Capra - CONFIDENTIAL Chipotle Mexican Grill enables customers to order from anywhere  Allow any consumer action from any channel  Consistent info across channels  One-click favorite orders Macy’s uses instore touchscreen kiosks for consumers to interact with  Consumer info • Personalized messaging  Product info • Inventory • POS • E-Receipts QSR Department Store
  6. 6. Many functions need to be blended for Omnichannel success • In store experience • Web based experience • Mobile • Communications and Advertising • Future channels 6CONFIDENTIAL
  7. 7. In-Store • The store is not going away. It is changing. – 76% of consumers prefer in-store commerce • Make the store a place where people want to be • Bring benefits of online to store – Product and consumer info – Inventory – Mobile payment • Customer journey should be easy W. Capra - CONFIDENTIAL 7
  8. 8. The Web Ease of use Shopping cart continuity Email campaigns Analytics to target Consistent info across channels Gift card/tender acceptance Add value to the in-store experience Online ordering In-store pickup Apps W. Capra - CONFIDENTIAL 8
  9. 9. Mobile 0% 5% 10% 15% 20% 25% 30% 35% 40% “In 3 – 5 years, do you expect the widespread ability to make mobile payments at retail stores?” Very Unlikely Very Likely CONSUMER EXPECTATIONS W. Capra - CONFIDENTIAL 9
  10. 10. Communications and Advertising  Facebook and Twitter connect ideas  Buy buttons  Conversation  Keep engagement flowing  Opportunity to listen  Offer value  Engage staff  Consistency  In-store signage to attract followers 10W. Capra - CONFIDENTIAL
  11. 11. The number of channels will continue to expand Beacons and devices will continue to extend the demand for Omnichannel services
  12. 12. 12 Best Practices for Omnichannel Migration
  13. 13. Thoughts on a recipe for Omnichannel success 13CONFIDENTIAL
  14. 14. Delivering an Omnichannel experience delivers value while increasing complexity Confidential Only one channel exists for commerce and communications Commerce and brand experience is consistent across channels One Channel @ POS or Online Only Integrated Platforms Integrated Infrastructure Required Omni Channel Multiple channels exist but commerce and communications are still bifurcated Channels
  15. 15. Launching a new Channel is not the same as launching a new app 15CONFIDENTIAL Consumer Engagement Marketing Operations Technology Analytics / Data In store e-commerce Mobile An Omnichannel strategy must consider how all functions interact with the different channels
  16. 16. Connected Decisions • Decisions for one channel have cascading implications across channels • Example: Tokenization – Tokens used for brick and mortar analytics and settlement should be consistent with tokens used for the mobile and online functions such as card vault – If tokens are different you will not be able to track the consumer across channel 16CONFIDENTIAL Implication: Channel governance and strategy should be integrated across all channels
  17. 17. Extended Fraud Capabilities are Required Education Velocity Scoring Databases Geo-Location EMV CVV Data Security Authentication W. Capra - CONFIDENTIAL 17 Implication: New resource capabilities, suppliers and reporting will be required to get a holistic view on fraud Regulations and fraud threats differ by channel
  18. 18. Delivery will Evolve • Retail is historically delivered via waterfall due to site level update processes • Mobile and online assets can be delivered via agile methodologies allowing for quick wins and enhanced “testing” 18CONFIDENTIAL Implication: The organization should evolve its project and delivery teams to accommodate the demands of all channels while structuring to take advantage of the flexibility of all channels.
  19. 19. Mature Cards Operations Security Point of Purchase Operations Card Marketing Cards Marketing Point of Purchase Loyalty Loyalty summary Vendor Management Innovation functions Terminals POS / Shopping Cart Branded Gift Frequency Offers Comms AnalyticsSecurity Innovation PCI Analytics Desired Extending Vendor Terminal POS Processor / AcquirerPeripherals objectives Availability Cost Compliance Switch Auth and Settle Reconciliation Switch The outcome … A single channel operating model while not simple, requires a limited supplier stack to operate its day to day operations
  20. 20. Mature Cards Operations Security Point of Purchase Operations Card Marketing Cards Marketing Point of Purchase Loyalty Loyalty summary Vendor Management Innovation functions Terminals POS / Shopping Cart Auth / Settle Branded Gift Card Linked Frequency Offers Comms Reconciliation Switch AnalyticsSecurity Innovation PCI Analytics Desired Extending Tokenization Vendor Terminal POS Processor / Acquirer Kiosks objectives Availability Cost Compliance Engagement Encrypted Relevant CoalitionRouting Switch Beacons New Devices Mobile TargetedEMV Mobile Platform Gateway Encryption SIEM Device Control Real Time Efficient NO Friction CRM Digital Agency Fraud Security Machine Learning Beacon PII Expert Security Apps MORE LEGAL Asset Management Wallet Strategy Real time Integrated Card and Spend Analysis SKU to Card Category Improvement Expected E-commerce A well executed Omnichannel implementation will require a more complex supplier stack making supplier decisions and strategy more important. The outcome …
  21. 21. 21 Case Studies
  22. 22. Be More than a brand Walgreen’s offers rewards for everyday healthy activities Partnerships Digital health advisor through WebMD Incorporate brand into consumer lifestyle Link fitness monitors Integrate with social media Personal relationship with consumer 22W. Capra - CONFIDENTIAL
  23. 23. Example of Success Learning from data Simple online ordering Transparency Metrics in store Unfiltered Twitter feed React quick, fail fast Continue to evaluate data W. Capra - CONFIDENTIAL 23
  24. 24. Domino’s Results Better Repeat Higher Spending Higher Customer Satisfaction New Products Ordered at 2:1 Ratio Data to Learn From Largest Quarterly Same-Store Sales Jump ever Recorded by Major Fast Food Chain 35% of Sales are Mobile 24CONFIDENTIAL Coming up with the ideas is one side of the challenge. But then you actually have to be able to deliver the technology - Kelly Garcia, Domino’s VP of Development
  25. 25. 25 For additional questions, please contact Daniel Kahan (dkahan@wcapra.com) or Boyd Farrish (bfarrish@wcapra.com) Thanks for viewing! CONFIDENTIAL