section # 2 – Customer Centricity Dem MACY ’S KNOWS HOW TO DO TREAT CUSTOMERS IN THE OMNICHANNEL WORLD – & HOW TO MEASURE IT Macy ’s has lots of ways of serving customers – and connects them all ands Omni-channel orientation “ Omnichannel” leverages key cross-channel assets 1 - Inventory – if we own it, she can buy it – leverage the strength of Macy ’s assortment and inventory across all channels 2 - Digital content & technology – create an integrated shopping experience; bring the strengths and innovation of the online world into our stores Macy ’s has lots of ways of serving customers – and connects them all -- puts them all together – and puts the customer at the center Aspiration to be customer centric and put the customer at the center of all decisions Realities of customer is their relationship with a brand is not within a channel but across – to know what we shoulod be doing to best serve the customer at every point of interaction requires understanding of context and what customer doing in other channels Everyone ’s talking about omnichannel and reinventing the marketing funnel; Macy’s isn’t just talking about it Macy ’s knows how to do business and treat customers in the omnichannel world – and how to measure it Customer centricitiy forces a horizontally focused orientation and an omni-channel approach Consistent experience BUT Context is key offers that are relative to a specific consumer determined by purchase patterns, website visits, loyalty programs, and other data mining techniques. more knowledgeable consumer
Transcript of "Forrester Marketing Forum 2013 - Acxiom and Macy's presentation"
Solving for the customerTelevision ad placement analysisoptimized buy: cost to reach 1000 buyers: $14mass buy: cost to reach 1000 buyers: $17092% improvement in reaching buyersapply CRM data to all media decisions
Solving for the customerconnects all relevant customer data
BESTCONTEXTUALBESTDEMOGRAPHICBESTBEHAVIORAL550%1,235%CONVERSIONPERFORMANCE:LIFT VS. UNTARGETEDMEDIABESTMULTI-VARIATE132%5,450%Connect your data to yield better results:
Connect advertiser &media partner data todrive better performance
EMOTION /UTILITY /VALUE – PUTTING IT ALL TOGETHER• Macys is unique because we blend and manage the emotion/ utility/ valueequation• Provides strong competitive advantage plus guidance for the company20Emotion ValueUtility
OMNICHANNEL IN ACTION211. Customer onthe website –checking outwhat’s available2. Customer ona mobile device –finding a nearbystore3. In the store –making a purchase4. Signing upfor E-receipt byproviding heremail addressat POS5. Receivingreceipt with offers6. Receivingfollow-up emailswith special offers
BUILDING BLOCKS• Customer centricity = Organization, Data and Insights– Organization – The competition is outside Macy’s– Data – Think about the customer – not the channel– Insights – Rich analytics tell the customer story and help youmanage the customer experience22
THANKYOU23Tim SutherChief Marketing& Strategy Officer, Acxiom@email@example.com/in/timsutherDarren StollGroup VP of Interactive MarketingOperations and Analytics, Macys.firstname.lastname@example.org/pub/darren-stoll/2/91/aa5Request a copy of this presentation: http://bit.ly/AcxiomFMF13Download our ‘2012 State of the Industry Report’: http://bit.ly/AcxiomFML13_WPWant more? See how your marketing prowess compares to that of your peers - Visit AcxiomBooth # 304 and take the Interactive Assessment.