how to improve customer loyalty in retail
TRANSCRIPT
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.– 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
• 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.– 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