How to Create a More Customer-Focused Commerce Model
•Download as PPTX, PDF•
2 likes•565 views
As technology seeps into every corner of our daily lives, both consumers and B2B buyers readily turn to digital commerce to find exactly what they need. And, their expectations for companies to deliver top-notch experiences grow higher by the day. While some businesses have upped their game, others are struggling to respond and digitally transform to meet these expectations. Guest speaker, Anjali Yakkundi, an analyst with Forrester, and Steve Gatto, Perficient Digital’s Commerce & DX specialist, delivered an informative session in which they explored three ways customer experiences are changing within commerce business models. They covered: -The key factors to help transform your customer experience -The importance of customer identity across all go-to-market strategies and channels
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to How to Create a More Customer-Focused Commerce Model
Similar to How to Create a More Customer-Focused Commerce Model (20)
More from Perficient, Inc.
More from Perficient, Inc. (20)
Recently uploaded
Recently uploaded (20)
How to Create a More Customer-Focused Commerce Model
- 1. PERFICIENT DIGITAL HOW TO CREATE A MORE CUSTOMER- FOCUSED BUSINESS MODEL
- 2. PERFICIENT DIGITAL Agenda 2 ABOUT PERFICIENT ABOUT PERFICIENT DIGITAL CUSTOMER EXPERIENCE OMNICHANNEL B2B/B2X CHANNEL SHIFT QUESTIONS / / / / / /
- 3. PERFICIENT DIGITAL 3 500+ Million in revenue* 1997Founded PRFT Listed on NASDAQ 90% Repeat Business Rate Employees 2800+ N. America locations 23 Global US, EU, China + India *2016 year projection
- 4. PERFICIENT DIGITAL 4 To us, these things are not mutually exclusive. Because we see them as one. For proof of this conviction, look no further than how we approach your digital transformation and CX challenges. Strategic design thinking and storytelling. Technology platforms and system integration. Dream Big. Build Beautiful.
- 5. = 200 STRONG
- 6. PERFICIENT DIGITAL Five Locations Poised for Amazing Work + Partnership 6 STLMKEIRVATLAA
- 7. 7© 2017 FORRESTER. REPRODUCTION PROHIBITED. › Image Source: https://upload.wikimedia.org/wikipedia/commons/b/bf/USA-NYC-Macys.JPG
- 8. 8© 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: WikiCommons
- 9. 9© 2017 FORRESTER. REPRODUCTION PROHIBITED.
- 10. 10© 2017 FORRESTER. REPRODUCTION PROHIBITED.
- 11. 11© 2017 FORRESTER. REPRODUCTION PROHIBITED. Digital Is Transforming The Commerce Landscape
- 12. 12© 2017 FORRESTER. REPRODUCTION PROHIBITED. Three Major Areas Of Transformation 1. Customer Experience 2. Omnichannel 3. B2B/B2X Channel Shift
- 13. PERFICIENT DIGITAL 1 3 Within your organization, would you assess your CX (Customer Experience) vision is well understood by all employees and they know how their individual role contributes to the company's’ CX goals? 1. Strongly Agree 2. Agree 3. Disagree 4. Strongly Disagree Question #1
- 15. 15© 2017 FORRESTER. REPRODUCTION PROHIBITED. US Online Adults Use More Devices Source: August 2016 “The Rise Of The Empowered Customer”
- 16. 16© 2017 FORRESTER. REPRODUCTION PROHIBITED. Brick And Mortar Meets Mobile Source: “The Rise Of The Empowered Customer”
- 17. 17© 2017 FORRESTER. REPRODUCTION PROHIBITED. ?
- 18. PERFICIENT DIGITAL Envision Framework 18 ASSESSMENT STRATEGY PLANNING Discovery Knowledge Transfer Stakeholder Workshops Discovery Workshops Research Primary Research Secondary Research Analytics Review Vision Vision Statement Goals & Objectives Value Proposition Experience Empathy Mapping Experience Mapping Experience Visualization Program Program Plan Governance Plan Change Management Technology Technical Design Platform Selection Integration Strategy Benchmarking Competitive Snapshot Competitive Analysis Performance Baseline Analysis Technical Assessment Readiness Assessment Content Assessment Capabilities Process Mapping Capabilities Matrix Feature Definition Outcomes Gap Analysis Business Case ROI Analysis Resources Resource Planning Center of Excellence Roadmap Feature Prioritization Roadmap Planning Implementation Planning
- 20. PERFICIENT DIGITAL 11 CX IQ + CX Amp These are jumpstart tools to help you get mobilized. CX IQ helps you gain better focus on your actual CX CX Amp is designed to create breakthrough CX visualization and build consensus for further innovation 20
- 21. PERFICIENT DIGITAL CX IQ: Core Components 21 CX IQ Scorecard and Other Defined Deliverables Well Documented, Easy to Manage Project Approach Proprietary ToolsAssessment of CX Effectiveness and Maturity
- 23. 23© 2017 FORRESTER. REPRODUCTION PROHIBITED.
- 24. 24© 2017 FORRESTER. REPRODUCTION PROHIBITED.
- 25. 25© 2017 FORRESTER. REPRODUCTION PROHIBITED. US online retail sales $393.8 billion US retail sales via mobile phones $60.2 billion 1% Source: Forrester Data Online Retail Forecast, 2016 To 2021 (US); Forrester Data Mobile And Tablet Commerce Forecast, 2016 To 2021 (US) US total retail sales (online and offline) $3.39 trillion 11.6%
- 26. 26© 2017 FORRESTER. REPRODUCTION PROHIBITED. In 2016, sales transacted offline (e.g. in store) that were influenced by digital in some way: US - 49% Europe - 42% Source: Forrester Data Web-Influenced Retail Sales Forecast, 2016 To 2021 (US and EU-7)
- 27. © 2017 Forrester Research, Inc. Reproduction Prohibited 27 “The coordination of traditional marketing channels, selling channels, fulfillment channels, and supporting systems to create a seamless customer experience.” Omnichannel
- 28. 28© 2017 FORRESTER. REPRODUCTION PROHIBITED. "We are one brand to our customers. Our customers do not differentiate between channels, and now neither will we." Karen Katz CEO and President, Neiman Marcus
- 29. 29© 2017 FORRESTER. REPRODUCTION PROHIBITED. Omnichannel = Seamless, Personalized Experiences Across Channels
- 30. 30© 2017 FORRESTER. REPRODUCTION PROHIBITED. Omnichannel = Access To Customer Insights Across Touchpoints Source: Retailtouchpoints.com
- 31. 31© 2017 FORRESTER. REPRODUCTION PROHIBITED. Omnichannel = Enable Fulfillment Across Touchpoints eComm DCs Drop Ship Outlets Stores Pop Ups Remote Pickup Fulfillment Channels Mobile Websites Contact Centers Stores Flash Sales Mail Order Purchase Channels Customer
- 32. 32© 2017 FORRESTER. REPRODUCTION PROHIBITED. Omnichannel=Using The Store To Differentiate, Not As A Burden
- 33. PERFICIENT DIGITAL Agnostic Technology Guidance 33
- 34. PERFICIENT DIGITAL Cognitive Assistance & Automation 34 A Use Case: empower agents to better respond to requests and improve conversion rates 90%Lower support costs 99%Shorter resolution times
- 35. PERFICIENT DIGITAL Experiences Across Consumer Journeys 35 • Optimizing inventory • Enabling omni channel interactions • BOPIS • SFS • STS • CC • SA / Clienteling • Fluid reverse logistics Empowering those influential moments that drive customer acquisition, engagement, and retention.
- 36. PERFICIENT DIGITAL 36 What ways do you sell to customers today? 1. Purely brick and mortar 2. Online and brick and mortar B2C Business 3. Via sales reps only 4. Via B2B ecommerce and sales reps 5. B2B and DTC Question #2
- 37. PERFICIENT DIGITAL B2B / B2X Channel Shift 37
- 38. 38© 2017 FORRESTER. REPRODUCTION PROHIBITED. B2B is moving digital Source: Forrester report “Death of a B2B Salesman Two Years Later”
- 39. 39© 2017 FORRESTER. REPRODUCTION PROHIBITED. The evolving B2B selling model Buyer or third-party seller Self-service website (mobile, PC/laptop, tablet) Sales team (field sales, inside sales, call center) Source: Forrester report “Death of a B2B Salesman Two Years Later”
- 40. 40© 2017 FORRESTER. REPRODUCTION PROHIBITED. The evolving B2B selling model Buyer or third-party seller or DTC Self-service website (mobile, PC/laptop, tablet) Sales team (field sales, inside sales, call center) Source: Forrester report “Death of a B2B Salesman Two Years Later”
- 41. 41© 2017 FORRESTER. REPRODUCTION PROHIBITED. Firms Want To Own The Customer Experience
- 42. 42© 2017 FORRESTER. REPRODUCTION PROHIBITED. "While gear is a sharp point for us, what we really see is the opportunity to extend and deepen the relationship with customers, making it more than a dashboard of data.“ Nikki Neuburger, VP Global Brand Running, Nike
- 43. 43© 2017 FORRESTER. REPRODUCTION PROHIBITED. By acquiring Dollar Shave Club in mid-2016, Unilever gained: • Further growth to its personal care business: 40% of total business • Access to the $40 billion male grooming market • Recurring revenue stream (subscription) with a fan base of customers • DTC know how that they lacked – that they’ll apply to other businesses they own
- 44. 44© 2017 FORRESTER. REPRODUCTION PROHIBITED. Mondelez experimented with eCommerce via Oreo
- 45. 45© 2017 FORRESTER. REPRODUCTION PROHIBITED. Potential gains from moving B2C › Establish a direct customer relationship, increasing brand awareness and build long-term customer relationships › Own the customer relationship across the customer lifecycle and build long-term customer relationships › Less dependence on big box retailers, many of whom are struggling to compete with Amazon › Potentially target new buyers, either digital-first buyers or buyers in new regions › Boost margins by selling direct
- 46. PERFICIENT DIGITAL 4 6 Helping Manufacturers Adapt & Evolve to Channel Shift in Demand Digital commerce provided the foundation to respond to the shift in buying preferences and integrated the enterprise across the web, call center, warehouse, and enhanced social media channels. 30% projected growth per year for the next 3-5 years
- 47. PERFICIENT DIGITAL 47 Helping Distributors Adapt & Evolve Relationships to be the Trusted Source for Product Research, Purchase, & Support Comprehensive assortments along with robust product information are the mandates to respond to the same channel shift within business buying scenarios places demands on the distribution segment to offer.
- 48. PERFICIENT DIGITAL Blended Models 48 Optimized for Enable B2B Engagement B/O User Experience Product Catalog Asset Management
- 49. PERFICIENT DIGITAL B2B Transformation 49 Old Site • Desktop Only • Decade old design • Lack of modern SEO New Site • Fully Responsive • Integrated catalog • Full featured DAM
- 50. © 2017 Forrester Research, Inc. Reproduction Prohibited 50 The Path Ahead Will Be An Evolution The Path
- 52. PERFICIENT DIGITAL THANK YOU! Steve Gatto: Steve.Gatto@perficient.com Anjali Yakkundi: ayakkundi@forrester.com 52
Editor's Notes
- Add slide on fast fashion and destination stores
- 3.35 B
- Although Amazon won’t break out total sales figures for Amazon Business, Wilson says its 20% monthly growth rate is holding steady even as its total increases. He attributes that to steady increases in numbers of customers, suppliers and products. “We’re adding new businesses every week, on both the buy side and sell side,” he said. He noted that Amazon Business now has 300,000 registered business accounts among buyers, up from 200,000 at the end of last year, and is adding thousands more every week. Among its new and growing customer segments, he added, are schools, universities, hospitals, medical clinics, small restaurants, construction contractors and government agencies. Amazon Business is also blowing out its number of products and entering new business and industrial product categories. The B2B portal offers at least 9 million business-specific products, Wilson said. He added that Amazon Business also is continually expanding its purchasing and selling services designed to make online transactions easier and faster for businesses. “We’re trying to reduce the time it takes to buy and sell supplies,” Wilson said.
- At Forrester, we believe we have entered into a new business era that we call “The Age of the Customer.” Your customers are now empowered through social, mobile, and other technologies giving the power to disrupt your business. In the “age of the customer” the old sources of advantage like manufacturing strength, distribution power, and information are business as usual -- and now to be truly competitive companies must become customer obsessed – which means they need to have deep knowledge of and engagement with their customers. Examples: Age of Manufacturing B2C – Ford, RCA, P&G B2B – Boeing, GE Age of Distribution B2C – Walmart, Toyota B2B – UPS, CSX Age of Information B2C – Amazon, Google B2B – Inuit, IBM Age of the Customer B2C – Macy’s, USAA B2B - Salesforce
- And only 1% of total retail.
- Sou
- First, True Religion loyalty members must opt into the mobile app, which integrates with geofencing and in-store beacons. Whenever an opted-in customer walks into a store, associates are alerted via Apple Watch haptic response. They can then tap into the back-end system to uncover the shoppers’ personal information so they can begin the conversation.
- natural language interfaces reducing calls received insight into customer, product, tickets, etc. Personalize the client experience with deep insights into preferences and interaction history Deliver consistent and accurate answers Efficiently scale expertise to novice agents Additional insights identified through analysis of all existing knowledge and problem history Improve self-service options through natural language interfaces, reducing the number of calls received Provide 360° insight into customer, product, tickets, etc. Personalize the client experience with deep insights into preferences and interaction history Deliver consistent and accurate answers Efficiently scale expertise to novice agents Additional insights identified through analysis of all existing knowledge and problem history Which problems / issue areas take long to solve? Trends and deviations? Peaks? Has the same or a similar problem already occurred? Any issues known with this entity / product / …? Who do I need to contact (Who solved it before?) Related cases / workarounds
- natural language interfaces reducing calls received insight into customer, product, tickets, etc. Personalize the client experience with deep insights into preferences and interaction history Deliver consistent and accurate answers Efficiently scale expertise to novice agents Additional insights identified through analysis of all existing knowledge and problem history Improve self-service options through natural language interfaces, reducing the number of calls received Provide 360° insight into customer, product, tickets, etc. Personalize the client experience with deep insights into preferences and interaction history Deliver consistent and accurate answers Efficiently scale expertise to novice agents Additional insights identified through analysis of all existing knowledge and problem history Which problems / issue areas take long to solve? Trends and deviations? Peaks? Has the same or a similar problem already occurred? Any issues known with this entity / product / …? Who do I need to contact (Who solved it before?) Related cases / workarounds
- eBusiness professionals must work with their leadership to develop a strategy whereby the self-serve eCommerce website is a necessary and equal partner to B2B salespeople in the B2B selling process — serving both customers externally and B2B salespeople internally as a research and transaction booking service (see Figure 7). It's a model whereby the self-serve eCommerce website figures far more prominently in the pre-sales process, becomes the default destination for all transactions (save for the most complex transactions and transactions tied to the very largest accounts that require special care and feeding), and takes the lead on most of the post-sales process. For others who sell
- eBusiness professionals must work with their leadership to develop a strategy whereby the self-serve eCommerce website is a necessary and equal partner to B2B salespeople in the B2B selling process — serving both customers externally and B2B salespeople internally as a research and transaction booking service (see Figure 7). It's a model whereby the self-serve eCommerce website figures far more prominently in the pre-sales process, becomes the default destination for all transactions (save for the most complex transactions and transactions tied to the very largest accounts that require special care and feeding), and takes the lead on most of the post-sales process. For others who sell
- When we think of customer experience, it’s important to think of the customer journey. Customers engage with firms as they discover your goods/services; explore your goods/services; purchase; use your goods/services and ask for help if they need it; and begin to establish an on-going relationship with us as a brand. At every one of these touchpoints, content is critical. For example: one retailer we spoke with is investing heavily in richer product content to drive the exploration and purchase phase of the journey; one healthcare firm we spoke with is investing heavily in content for customer support to help divert calls that may have been coming to the call center; and another brand we spoke to is investing heavily in community and loyalty content to drive on-going relationships with their customers.
- source: forbes
- From WWD July 21, 2016: “Polman explained that over the past seven years, Unilever has built its personal-care business from just 28 percent of company sales to now nearly 40 percent, making it today an activity generating some 20 billion euros, or $22.02 billion at current exchange. He called Unilever’s “probably the fastest-growing personal-care business.” Polman: “This is much more than just a razor company. Their portfolio and their dialogue with consumers extends across male grooming into hairstyling, skin care and skin cleansing. Male grooming…is a $40 billion market, growing faster than the personal-care average, and so we feel it is a huge opportunity.” Before the acquisition, Unilever had no part of the $4.5 billion shaving / razor market – so all incremental. Polman: “We are able to acquire the knowledge that they have built very quickly and undoubtedly will apply it also on other brands,” he explained. Polman: ““This also obviously is the category leader in the direct-to-consumer channel, which is very attractive and successful,” the executive continued, adding the subscription model involves up-front investment while acquiring subscribers during the rapid-growth phase and then thereafter is inherently profitable with a fan base of consumers — including the highly attractive Millennial segment — regularly buying the range of products that cover all price categories.”
- In September, we announced a bold e-commerce strategy with a goal of growing our e-commerce revenue to as much as $1 billion by 2020. We know that consumers are increasingly looking for customized or promotional offers online, and we’re thrilled that Oreo will be the first brand in our portfolio to test a new direct-to-consumer e-commerce store called “Colorfilled” via shop.oreo.com, where U.S. consumers can now customize the packaging of their favorite cookie with exclusive illustrated designs and include a personalized gift tag. December they launched a holiday oreo tin site that could be ordered online
- Edit this slide for clarity
- Think Big – Start Small – Act Fast The initial launch provided a “walk then run” approach to start with core functionality and minimal integration and then evolve the site with additional capabilities to help increase adoption and provide scalability.
- Think Big – Start Small – Act Fast PIM – Commerce – CX - SCM
- New Authoring and Catalog Experiences Promote Collaboration among Commerce & Marketing Divisions. Think Big – Start Small – Act Fast
- Image Source: https://pixabay.com/static/uploads/photo/2016/02/12/11/28/panorama-1195898_960_720.jpg