Omnichannel: How Retail Analytics Can HelpBY Eleonora Shapiro
Omnichannel defines the new retail landscape, requiring top brands to knock down marketing silos and deploy data analytics to earn customer loyalty.
In this day and age, customers are literally everywhere — in store, online, on social networks, in chat apps and on their phones. Retailers who are dominating this new chaotic market are doing so by becoming experts in omnichannel retailing. Transforming your business to suit omnichannel retailing requires a new way of thinking about how retail operations need to be organised. It starts when retailers take a step back and look at themselves from the point of view of the customer.
Traditionally, retail marketing efforts have tended to operate in silos. There might be one group in charge of in-store promotions, while another handles visitors to the website, and a third group is called in to launch mobile initiatives.
The problem with marketing silos is that customers see a retail brand as a single entity, regardless of which channel they use to shop. Customers may search for a specific brand on mobile, touch the website link to browse the selections, and then stop by the store to pick up what they want, all as part of a single shopping event. Many channels, one brand. That's why customers perceive disconnects between channels as a failure by the retailer. Market leaders in the retail industry don't let that happen.
As every retailer is unique, there are many ways brands can utilise creative applications and intelligent software to create a seamless omnichannel experience for consumers. The good news is that analytics for unifying omnichannel marketing is just one of the many ways retailers are applying this next generation of data tools to boost revenues and retain customer loyalty.
Uniting each channel
Leading retailers have adjusted to this worldview and have seamlessly integrated the varied marketing efforts among these many channels. Without analytics programs in place, traditional retailers end up sending conflicting messages to their customers. Salespeople in store don’t know anything about a text the customer just received, leading to greater customer frustration and cart abandonment.
Retailers can see exactly how customers are moving through the store, where they stop and what attracts their attention. This is the secret to in-store promotions that customers consider share-worthy on social media.
Couponing in real time
What if a customer could be identified based on demographics while they shop so that the most valuable coupons appear in their email instantly? That’s not only possible, it’s happening now at competitive stores.
When customers receive discounts or promotions on their phones, whether it's a text, an email campaign or a social share, they want the salesperson at checkout to scan the on-screen barcode and apply the discount. It can be that simple.
Technology can now answer questions such as "How many people shop without buying?" and "How many cashiers will be necessary for the coming week?" The ROI from higher revenues and lower costs makes this one of the most popular applications of retail analytics.
Retail has already been disrupted by digital technology. With a customised solution for every retailer, now is the time to take advantage of these intelligent applications and pull ahead of slow-moving competitors.
With an array of advanced technologies, Suez Technology has the experts in omnichannel at its disposal. For more information regarding Suez Technology visit https://www.analytics.sueztechnology.com.au/ or email email@example.com
ABOUT THE AUTHOR
Eleonora is the Director for Suez Technology.