The IoT X factor: Maximizing customer & employee experiences_MTI

1. The IoT X Factor: Maximizing Customer
& Employee Experiences

2. Travis Hooper
VP of Products & Strategy

4. Retail IoT Connects CX & EX
CX
Customer
Perception &
Brand Loyalty
Are Greatly
Impacted by
In-Store
Experiences
Internet
of
Things
EX
Highly
Engaged &
Empowered
Employees
Drive Both Top
& Bottom Line
Improvements
.

5. Retail/Industry Trends

6. Total Retail by 2025
(www.statista.com)
China will have the largest retail
spending in 2020
81% of retail sales
projected to be In-Store
Of Internet users on social
media by 2025
Store sizes will reduce size by 2020Total Online retail by 2025
Retail is Alive and Well……..

7. 5 Trends Reshaping the Retail Industry
$3.4B $50.6B 64% 60% 70%
Spend in Artificial
Intelligence
Click-and-collect
based Revenue
Prefer personalized
shopping experience
based on past
purchase behavior
Lack data to effectively
manage customer
acquisition initiatives
Customers believe it
is easier than ever
to take their
business elsewhere.

8. Digital Capabilities Rapidly Transforming Commerce
Historical Retail
(100’s of years)
Intro of eCommerce
(Last 20 years)
Channel Convergence
(Last 5 years)
New
Norm
New Expectation
Instant,
coordinated,
automated and
personalized
shopping
experiences

9. Brick & Mortar Must Continue to Evolve
When Bain & Company asked organizations to rate their quality
of customer experience, 80% believe they are delivering a
superior experience vs 8% of customers who believe they are
receiving a great customer experience.
COMPANIES vs CUSTOMERS
“Retailers are no
longer selling things.
They’re selling the
experience of buying
those things.”
- Dan Newman, Futurum Research

10. Retail IoT

11. Camera
Mobile
Check-In
Mobile
Pay
Data &
Analytics
POS
RFID
Digital
Signage
Kiosk
“Connecting systems,
providing unified visibility,
real-time decisions, and
deepen insights into
customers, competition,
product, portfolio, and
performance.”

12. Thing or Device
Gateway
Cloud
Analytics
User Interface
Data Data Data Data
Major Components of IoT

13. Growth in Connected Devices
Science and Tech Sector All Sectors

14. 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Sensors RFID Tags
Wearables Beacons
New Use Cases Driving Growth in IoT Hardware
2014-2025 (USD Billion)
Supply Chain (Cost & Inventory Tracking) Proliferation of Connected Things & New Use Cases

15. IoT Retail Applications
Customer Interactions
& Tracking
Asset Protection
Connected Mobile App
Experience
Rich, interactive experiences
Personalized virtual closets
Completely centralized
information

16. 2020 IoT Trends in Retail
Personalization
Expansion of Data
Collection & Analytics
Technology
Proliferation
Visual &
Voice Search
Mobile
Shopping Apps
Augmented &
Virtual Reality

17. Data Collection & Analysis
79% Cameras and video
analytics for operational
purposes
75% Predictive
analytics
79% Loss prevention and
inventory visibility elements
enabled by operational
technology
75% Cameras and video
analytics for customer
experience
78% Software analytics for loss
prevention, price optimization
72% Visual analytics for making
sense out of loT data
77% Big data solutions for
storing and analyzing loT
generated data
72% Cognitive computing to
drive optimizations and insights

18. Customer Experience
CX

19. Customer Expectations Rapidly Changing……
Customers Are More Knowledgeable
Than Ever Before
Gen Z Prefer Shopping
In Stores
Gen Z + Gen X + Millennials Are
Becoming The Majority
New Norm - Buy What you
Want, When you Want, How
you Want
Customer
Expectations

20. Customer Experience #2………
7%
8%
17%
22%
37%
47%
52%
Social Responsibility
Selection
Availability
Price
Brand Reputation
Customer Experience
Quality
Source: Harvard Business Review Analytic Services

21. The Empowered Consumer…
• Tech-Savvy: Moves seamlessly & interchangeably between
devices
• Well-informed: Shopping as a mission
• Relies on online referrals, reviews, price comparison and
recommendations
• Requires loyalty to be rewarded – otherwise it’s short-lived
• Grasps new concepts quickly – gets bored easily
• Seeks stimulation and expect constant change
• Highly conscious of time and value
The balance of power has shifted to consumers – they are setting the agenda and
retailers must follow.

22. Upside of CX
55%
of consumers would pay more for a
better customer experience
– Defacto Research
65%
of buyers find a positive experience
with a brand to be more influential
than great advertising
- PwC
86%
of consumers with an excellent CX
are likely to repurchase
- Temkin Group
4-8%
Companies that excel at customer
experience grow revenues 4-8%
above the market
- Bain & Co

23. Consequences – Poorly executed CX
70%
of retail leaders believe customers
will wait 5 MINUTES OR LESS for
service before going elsewhere
–Upstream Commerce
78%
of Customers have bailed on a
transaction due to poor service
experience
–Maritz CX
58%
of consumers with an excellent CX
are likely to repurchase
- Temkin Group
95%
95% of customers tell others about
their bad experience
-ZenDesk

24. What is CX Missing…?
The Future of CX is Human
59% of consumers feel companies have lost touch with the human
element of customer experience.
- PwC

26. Employee Experience
EX

27. Employees are the Essential Ingredient …………..
“The key to success when it comes to creating a store experience that shoppers want
to return to again and again is grounded in highly engaged associates; investing in
human capital is vital.”
- NRF

28. What is Employee Engagement?
1. THINK 2. FEEL 3. ACT
Engagement is defined by 3 factors. How employees…

29. Benefits of Highly Engaged Employees
2.5x 2x 62% 50%
40% 24% 18% 12%
Greater Revenue Growth Annual Net Income Fewer Accidents Less Absence Days
Lower Employee Turnover Higher Net Promoter Score Higher Productivity Higher Customer Advocacy
*For more data & other resources, please visit www.engageforsuccess.org

30. Gaps In Engagement
ENGAGE
Build Strengths and Purpose
Frequent Refresh and Touch Base
PERFORM
Drive Expectations
Measure & Provide Feedback
DEVELOP
Coach Career Growth
Active Dialog
ONBOARD
Affirm the decisionATTRACT
RecruitTopTalent
DEPART
Positive Send-Off PERFORM
Employee
Journey

31. Improving Employee Engagement with IoT
Provide Real Time Communications
Drive Sales Enablement
Conduct Regular eLearning & Training
Provide Effective Inventory & Space Management
Promote Efficiency & Task Automation

32. Consumers Business Buyers
64% 80%
1. IoT Impact- Real Time Communications
Employee Tools Must Be:
• Proactive & Predictive - Resolve
Issues Before CX Impact
• Aggregated – Dashboards,
Infrastructure & Systems
• Actionable - Deliver Context/
Problem + Solution

33. 2. IoT Impact- Sales Enablement
Balance Employee
Empowerment & Loss
Prevention
Personalize
Loyalty
Customer
Journey
Provide Tools that
Support Customer
Journey

34. 3. IoT Impact- eLearning & Training
Training On Demand
• Optimized for Mobile
Personalized & Experience
• Employee, Customer,
Environment
Guided, Curated Experiences
• AR & VR “Digital Twin”
Gamification
• Increases Retention Rates
• Provides Instant Feedback
• Boosts Productivity
• Drives Behavioral Change

35. 4. IoT Impact- Inventory & Space Management
Inventory Visibility & Accuracy -
No more manual counts
Inventory Tracking
Locate on-demand
Space Planning
Communication & Execution

36. 5. IoT Impact- Efficiency & Automation
Reduce Redundant
& Manual Processes
Opening & Closing
Procedures
Simplified Task
Management
& Reporting

37. Measuring Engagement- eNPS
20.3%
-0.1%
5.1%
-4.6%
Front LineManagerVP/DirectorC-Level
“On a scale from 0 to 10, would you recommend your
company as a place to work to a friend or colleague?”
Employee Net Promoter score (ENPS) = % promoters minus % detractors;
Responses categorized as promoters (9-10), passives (7-8) or detractors (1-6)

38. Not Engaged - Productive, but they
are not psychologically connected to
their company. They miss more
workdays, more likely to leave.
52%
Actively Disengaged - Physically
present, but psychologically absent.
They are unhappy and insist on
sharing this unhappiness with others.
19%Engaged - Loyal and
psychologically committed.
More productive, higher
retention.
29%
Are Employees Engaged?

39. Best Practices

40. Connect Your Retail World
Customer
Experience
Employee
Engagement
Asset
Protection
Partners &
Vendors
Execution

41. Optimize the Customer Experience
• Engage & Drive Brand Experiences
• Drive Interactive Demos
• Enable Product Specific Content
• Enable Customers to Provide Real-Time
Feedback
• Provide Exceptional Speed of Service
• Quick Access to Floor Inventory
• Increase Conversions & Net Promoter
Scores
• Put Real-Time Product Information in
Employee’s Hands

42. Enable & Empower Employees
• Empower Staff & Simplify Operations
• Auto Alerts & Intuitive Tools
• Increase Time with Customers
• Improve Store Execution
• 24/7 Connectivity
• Real-Time Actionable Metrics
• Regional, Corporate & Brand Visibility
• Ensure Consistent Global Execution

43. Maximize Asset Protection
• Intelligent Protection
• Self Diagnosing Products
• Real-Time Alerts
• Ensure Compliance & Health
• Reduce Shrink
• Employee Specific Key Tracking
• Centralized Access Management
• Drive Internal Accountability

44. Engage Partners
• Open Platform Integration
• Real-time Planogram Execution
• Smart Digital Signage
• Time & Attendance
• Deliver Analytics & Insights to Brands
• Actionable Dashboards
• Manage by Exception
• Provide Visibility & Accountability to
Performance

45. Execute Globally
• Improve Return on Display
• Accelerate Response Times
• Promote Exception Based Management
• Maximize Brand Advocacy

46. Connected Retail World
Customer Experiences
Execution
Security
Operations
Partners

47. 




Digital Initiatives Checklist
 Can Initiative Impact both CX & EX
 Identify ROI Drivers & Success Metrics
 Is it Real Time?
 Privacy & Security
 Integration Potential

48. To Learn More Visit: MTIGS.com
Thank you!
Travis Hooper
MTI, VP of Products and Strategy
travis.hooper@mtigs.com