Delivering On The
Omnichannel Promise With
In-Store Digital Solutions
5 WAYS TO IMPROVE THE BRAND IMAGE AND THE BOTTOM LIN...
More than simply a strategy for nurturing
customer relationships, a positive in-store
shopping experience can help shape a...
Delivering On The Omnichannel Promise With In-Store Digital Solutions • 3
TWEET THIS
The global market for digital signage...
2. Educate Shoppers
TWEET THIS
Delivering On The Omnichannel Promise With In-Store Digital Solutions •
Savvy organizations...
brand’s perspective, suggested product
pairings can help significantly in moving
inventory without discounting. In-store d...
3. Empower Sales Associates
Delivering On The Omnichannel Promise With In-Store Digital Solutions • 6
TWEET THIS
8 in 10
s...
Consumers are bombarded by promotional
offers promising everything from deep
discounts to loyalty points. But static
promo...
In addition to offering in-store strengths,
digital signage content also can be tied to
anywhere, anytime mobile applicati...
All too often, store managers and associates
have challenges tracking store inefficiencies
such as inadequate inventory le...
Every customer who walks into a brick-
and-mortal retail location offers a prime
opportunity for a retailer to drive sales...
Reflect works with many of the world’s retailers and
leading brands including Target, Best Buy, Macy’s,
GameStop and Veriz...
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RTP - Delivering on the omnichannel promise

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Transcript of "RTP - Delivering on the omnichannel promise"

  1. 1. Delivering On The Omnichannel Promise With In-Store Digital Solutions 5 WAYS TO IMPROVE THE BRAND IMAGE AND THE BOTTOM LINE Sponsored by
  2. 2. More than simply a strategy for nurturing customer relationships, a positive in-store shopping experience can help shape a brand’s story, generating sales lift and deepening brand connections. To create a compelling in-store experience, retailers need the right tools to manage the digital touch points and messaging customers engage with, from the moment they first interact with the brand, to the second they walk through the door of a store, until they finalize the purchase, and beyond. As noted in a recent Forrester blog: “Customer journeys are characterized by a series of touch points. These are all the times when a customer encounters your brand, product or service…the touch point associated with making a buying decision is critical — this is a moment of truth — a point in time when a prospective customer chooses your brand or that of a competitor.” Retailers must find new ways to extend the positive customer experience across the multiple channels of the customer journey — including mobile, social media, broadcast and brick-and-mortar — while maintaining a consistent brand and approach to omnichannel retailing. Fortunately, a well-planned in-store digital media program, including passive and interactive displays, can keep shoppers in the store, build better experiences, increase loyalty and engage consumers with relevant content. Customers continue to make the majority of their purchase decisions in brick-and- mortar stores. This presents a golden opportunity for retailers who take the necessary steps to improve the in-store experience. In fact, research firm Forrester revealed that among retailers, customer experience accounts for 47% of loyalty, while price and value contribute only slightly to capturing consumer loyalty. Delivering On The Omnichannel Promise With In-Store Digital Solutions • 2 Among retailers, customer experience accounts for of loyalty, while price and value contribute only slightly to capturing consumer loyalty. - Forrester 47% TWEET THIS Retailers and CPG brands can now implement in-store digital media technology programs that address omnichannel challenges. Key benefits include: Enhance the brand image Educate shoppers Empower sales associates Deliver action on promotional offers Improve back-room efficiencies 1 2 3 4 5
  3. 3. Delivering On The Omnichannel Promise With In-Store Digital Solutions • 3 TWEET THIS The global market for digital signage, including displays, media players, software and installation/ maintenance costs, will grow from nearly $1.3 billion in 2010 to almost $4.5 billion in 2016. -ABI Research For decades, retailers have relied on traditional out-of-store media such as print and television to reach potential customers and enhance brand image. But these days, retailers from grocery chains to electronics stores are shifting away from static advertising platforms to omnichannel programs — which include in-store digital media technology — to reach consumers in the store. In fact, according to a study by ABI Research, the global market for digital signage, including displays, media players, software and installation/maintenance costs, will grow from nearly $1.3 billion in 2010 to almost $4.5 billion in 2016. Behind this increased demand for in- store digital media technology is a desire to enhance brand image and messaging through relevant, real-time and localized content. Companies are now looking to tell the brand story across multiple channels using place-based digital signage and interactive display systems. It’s easy to understand why. Digital media solutions can help bolster sales. In fact, a Nielsen consumer survey revealed that most (80%) product brands experienced significant increases of up to 33% in additional sales through the use of digital out-of-home media. The ability for digital technologies to touch a customer on an emotional level far exceeds that of traditional printed signage. In-store digital displays are a captivating medium for story-selling and lifestyle branding, allowing retailers and CPG brands to evoke the same emotion in customers while they shop in the store as they experience online, with mobile and through broadcast advertising. Another factor that’s driving the use of digital media technology to enhance brand image is the ever-evolving role of marketing teams. Once the purview of merchandising representatives, a growing number of marketing professionals are taking a more active role in shaping a retailer’s in-store experience with image-savvy, customer- centric engagement techniques. These digital media tools, including in-store mobile apps, interactive display screens and digital signage, are creating positive emotional connections for shoppers while reinforcing their brand affinity. Establishing such connections is critical to retail success. In an era of constant price reductions and widely publicized promotions, retailers need to think beyond discounting to differentiate themselves from the competition. A digital media solution that brings a cohesive brand story to the forefront can enable a company to rise above the noise and boost the bottom line. 1. Enhance The Brand Image In-store digital displays are a captivating medium for story selling and lifestyle branding.
  4. 4. 2. Educate Shoppers TWEET THIS Delivering On The Omnichannel Promise With In-Store Digital Solutions • Savvy organizations know how to leverage digital media technologies so that they educate customers on opportunities that exist beyond the store. Smartphones influenced $159 billion in U.S. store sales over the course of 2012, or 5% of the total, and will influence $689 billion by - Deloitte Digital Gone are the days when consumers relied solely on well-trained, highly knowledgeable store associates to learn more about a particular product. Today’s consumers are savvier than ever thanks to tools that allow them to comparison shop, download coupons and negotiate for discounts on-the-fly. In fact, analytics firm ForeSee Results reported that approximately 70% of consumers use a mobile phone in a retail store to research and accompany their shopping experiences. And Deloitte Digital reported that smartphones influenced $159 billion in U.S. store sales over the course of 2012, or 5% of the total, and will influence $689 billion by 2016. As mobile devices continue to enable showrooming — examining merchandise in-store but then purchasing it online — retailers are challenged to entice consumers to make in-store purchases, or to at least take advantage of offerings from the retailer’s own online offerings. Yet there are many opportunities for retailers to educate and empower shoppers so that they feel more in control of the purchasing process. Today’s in-store digital tools can empower consumers with the knowledge and research they demand to make better buying decisions. Take, for example, a leading multinational financial services provider. Eager to educate its customers, the organization deployed a multiscreen display system that focused on new product information and bank messaging, along with three other display systems that 4 2016. centered on corporate values messaging and specific product information. By taking advantage of digital media technology to inform its customers about new products and services, the financial services institution was able to increase communication and dialogue with its customers regarding the products that are promoted on the screens. In retail, the use of in-store digital media technology can assist customers with product pairings. Retailers can easily show the customer a smartphone, a cradle, a case and other accessories. Couple that with way-finding capabilities on a touch screen to show the locations for those items within the store, and you can start to see how the customer experience has changed dramatically. From the retailer or CPG
  5. 5. brand’s perspective, suggested product pairings can help significantly in moving inventory without discounting. In-store digital media also enables retailers to increase inventory turn rates for trendier, high-fashion merchandise that goes out of style, enabling quicker sales to make room on shelves for the latest designs. But these efforts can go beyond products and services found within the four walls of a brick- and-mortar location. Savvy organizations know how to leverage digital media technologies so that they educate customers on opportunities that exist beyond the store. For example, an in-store digital signage display may promote extended-aisle options from the web or content from social media. Whatever the medium, the right digital media solution can bridge the omnichannel divide to educate consumers and drive sales both in-store and beyond. The trick, however, is ensuring that the messaging and brand story created for one medium remains consistent across multiple channels, and provides timely and relevant value to the customer. Delivering On The Omnichannel Promise With In-Store Digital Solutions • 5 TWEET THIS Digital solutions can help retailers beyond the four walls of the store. An in-store digital signage display may also promote extended-aisle options from the web or social media. Suggested product pairings can help move inventory without discounting. In-store digital media also can increase inventory turns on high inventory items, helping to make room for the latest merchandise.
  6. 6. 3. Empower Sales Associates Delivering On The Omnichannel Promise With In-Store Digital Solutions • 6 TWEET THIS 8 in 10 smartphone shoppers use mobile in-store to help with shopping; and frequent mobile shoppers spend more in-store. -Google 25% Not surprisingly, many sales associates feel outwitted by today’s savvy shoppers. Recent research from Google spotlights this trend: 8 in 10 smartphone shoppers use mobile in-store to help with shopping, according to the April 2013 report, titled: Mobile In-Store Research: How in-store shoppers are using mobile devices. The good news is that frequent mobile shoppers spend 25% more in-store than people who only occasionally use a mobile phone to help with shopping, Google reported. This helps to solidify the business case for arming sales associates with mobile devices and interactive digital signage. Digital media technology tools can provide store associates with all the information they need about an organization’s products and services in order to add value to a customer’s experience and influence the purchase, as well as upsell and cross-sell opportunities. Interactive devices such as touch screens can place valuable information at sales associates’ fingertips, enabling them to access enhanced information, perform a deeper dive into a prod- uct’s specifications and help tell a more com- pelling brand story. The Google report noted: “Offering expert service from salespeople or interactive product demos can help distinguish your store experience from online shopping.” Once responsible for simply ringing up a sale, today’s sales associates have the opportunity to tap into valuable marketing data and real-time product information resources to offer consumers the most up-to-date and accurate information available. With real- time data and content from the retailer’s digital media systems, sales associates can communicate information that may not be gleaned from a consumer digital device such as a smartphone or tablet PC. Better yet, interactive devices, coupled with the right software platforms, can serve as powerful ordering tools, enabling sales associates to access important inventory information or place an order in real-time, thereby transforming the sales floor into a powerful revenue generator. By doing so, sales associates are helping consumers look beyond the shelves of a brick-and-mortar location while at the same time taking a more active role in guiding consumers through the shopping journey. Interactive devices can place valuable information at sales associates’ fingertips.
  7. 7. Consumers are bombarded by promotional offers promising everything from deep discounts to loyalty points. But static promotional signage can easily blend with the competition’s, failing to grab customers’ attention and drive sales. Digital signage and interactive displays, on the other hand, are dynamic platforms for attracting eyeballs and influencing purchasing behavior. Digital promotional offers can deliver more timely and up-to-the-minute content than static signage. Last-minute deals and one- day-only promotional tie-ins can create fanfare around a product, especially if there’s a strong call-to-action. Because of the real- time nature of digital media messaging, it also can be tied directly to a retailer’s inventory levels. And digital media technologies can target consumers by time and location, better engaging shoppers and personalizing the in- store experience. Consider, for example, the real-time messaging of products that are being sold in a grocery store in Miami on a warm, sunny day. Retailers may wish to launch a promotion that allows consumers to pick up a cold drink with every bottle of sunscreen purchased. However, the same grocery store located in New York City on a cold, rainy day can use the same messaging tool to 4. Deliver Action On Promotional Offers Delivering On The Omnichannel Promise With In-Store Digital Solutions • 7 Digital promotional offers can deliver more timely and up-to-the-minute content than static signage. Last-minute deals and one-day-only promotional tie-ins can create fanfare around a product. promote discounts on hot cocoa. Whatever the time or place, digital signage can deliver contextually relevant messaging that is far more likely to influence shoppers than static signage promotions. Promoting the right product at the right time also can prevent retailers from having to offer consumers deep discounts on products — a strategy that can backfire when shoppers begin to expect bottom-basement pricing on all merchandise. Because of the real-time nature of digital media messaging, it also can be tied directly to a retailer’s inventory levels. TWEET THIS
  8. 8. In addition to offering in-store strengths, digital signage content also can be tied to anywhere, anytime mobile applications. As a broadcast medium, in-store digital signage and interactive applications are some of the most engaging and immersive ways retailers can reach consumers. Delivering On The Omnichannel Promise With In-Store Digital Solutions • 8 Interactive displays can highlight the functions and features of a retailer’s mobile app and can raise awareness for other omnichannel tools and offerings. TWEET THIS Mobile applications, on the other hand, are pull technologies that are initiated by a shopper to engage with the brand. However, more retailers are discovering the value of uniting digital media signage and mobile technology. For example, interactive displays can highlight the functions and features of a retailer’s mobile app and can raise awareness for other omnichannel tools and offerings. The result is a strategy that not only captures shoppers’ attention while they’re in store but also takes the consumer on a journey long after they’ve left a brick-and- mortar location. Digital signage also can work in concert with social media by promoting certain sites, and can raise awareness of QR codes and other mobile integration methods in order to raise product awareness through both digital and print platforms for a full omnichannel experience. Digital promotional offers can deliver more timely and up-to-the-minute content than static signage. Last-minute deals and one-day-only promotional tie-ins can create fanfare around a product.
  9. 9. All too often, store managers and associates have challenges tracking store inefficiencies such as inadequate inventory levels or a poorly performing promotion. That’s because gauging a retail store’s success is often a manual, time-consuming process. Fortunately, digital media technology can help. By connecting with inventory and point-of- sale-systems, digital signage and interactive display applications can communicate key performance indicators in real time so that retailers can quickly improve efficiencies on inventory productivity and local store performance levels. These solutions also can help merchants as they strive to provide a consistent brand experience across all channels. With real- time visibility into product availability and ordering information — in the back room as well as online, in other stores and in DCs — store associates can help locate the desired item for shoppers on the spot. With that information in hand, the associate can finalize the purchase, avoiding a potentially lost sale and diminished customer loyalty. Merchants should not underestimate the value of offering the right product at the right time, at the shopper’s convenience. In a recent KPMG survey, retailers stated that the top two drivers of revenue growth in the next three years will be retaining customers (37%) and adding customers (35%). 5. Improve Backroom Efficiencies Delivering On The Omnichannel Promise With In-Store Digital Solutions • 9 Digital signage and interactive display applications can communicate key performance indicators in real time so that retailers can quickly improve efficiencies on inventory productivity and local store performance levels. TWEET THIS Retail leaders are recognizing the advantages of omnichannel product visibility. For example, 62% of retail leaders share up-to-date order management information across channels, compared to just 37% of followers, according to Aberdeen Group in a May 2013 study, titled: Omni-Channel Retailing 2013: The Quest for the Holy Grail. 62%of retail leaders share up-to-date order management information across channels... ... compared to just 37% of followers
  10. 10. Every customer who walks into a brick- and-mortal retail location offers a prime opportunity for a retailer to drive sales and bolster brand image. But while static promotions and out-of-store media can lure some consumers, digital signage and interactive display applications can raise the bar. That’s because these innovative tools are capable of creating an in-store shopping experience that communicates a brand’s story, increases revenue and strengthens customer relations. Key benefits include: In today’s highly competitive marketplace, retailers can’t afford outdated and inconsistent messaging. Rather, an advanced digital signage program, including interactive displays, can bridge the omnichannel divide with powerful in-store digital solutions for a distinctly competitive advantage. Conclusion Delivering On The Omnichannel Promise With In-Store Digital Solutions • 10 Digital signage creates an in-store shopping experience that communicates a brand’s story, increases revenue and strengthens customer relations. Enhance the brand image Educate shoppers Empower sales associates Deliver action on promotional offers Improve back-room efficiencies 1 2 3 4 5 TWEET THIS
  11. 11. Reflect works with many of the world’s retailers and leading brands including Target, Best Buy, Macy’s, GameStop and Verizon Wireless to deliver outstanding customer experiences using digital technologies. Reflect believes a brand’s story is shaped by each customer’s in-store shopping experience. The right in-store digital media strategy can significantly impact the omnichannel experience, generating sales lift, and deepening brand connection. By providing the tools to control the digital message from the moment customers walk through the door, Reflect contributes to its clients’ merchandising success at each location. Retail TouchPoints is an online publishing network for retail executives, with content focused on optimizing the customer experience across all channels. The Retail TouchPoints network is comprised of a weekly newsletter, special reports, web seminars, exclusive benchmark research, and a content-rich web site featuring daily news updates and multi-media interviews at www.retailtouchpoints.com. The Retail TouchPoints team also interacts with social media communities via Facebook, Twitter and LinkedIn. ABOUT 9400 N Central Expressway Suite 550 Dallas, Texas 75231 P: 800.813.6525 info@reflectsystems.com 411 Rt. 17 South, Suite 410 Hasbrouck Heights, NJ 07604 P: 201.257.8528 F: 201.257.5281 info@retailtouchpoints.com Delivering On The Omnichannel Promise With In-Store Digital Solutions • 11 ABOUT

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