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Fidelizing the current consumer can be up to 50% cheaper when compared to the effort to bring in a new customer.
As Peter Drucker has stated, in order to survive and succeed, every organization must become an agent of change. The most effective way to manage change is to create it. Exactly for this purpose, the world’s largest retailers and industry suppliers have met this month at the NRF Big Show 2019 in New York. Contrary to what was said, the fair showed that the advancement of technology will not mean the end of retail. Big brands are leveraging their business with the use of artificial intelligence, big data and internet of things (IoT) to add differentiation in the service to the shopper. Companies in this segment are using technology to learn, understand and deliver what customers want, in a totally personalized and unique way.
We have already begun the era of superconsumer, whose journey can be summarized from the combination of technology that privileges to identify the individual, aligned with a series of new ideas, generating a real revolution and attracting more and more shoppers into the stores and, in parallel , also increasing revenues from e-commerce sales. The present is already digital, and will be more and more.
The use of technology in stores goes beyond the solutions used in gondolas, displays and self-service checkout systems. The new retail also includes the adoption of innovative tools that encompass the entire customer experience strategy from pre- to post-sale. The proposal is to make the relationship between customers and brands even more intelligent and complete. It is in this sense that technology, especially with the implementation of programs and platforms oriented by data, has been shown to be important and effective for companies.
During the days of NFR 2019 and the various technical visits in retail, increasingly disruptive, I followed a series of examples that show why the integration between the different service platforms is one of the most valuable ways to generate more opportunities and revenues for companies . We are talking about a broad process, capable of identifying, monitoring, grouping and analyzing a set of data provided by customers through digital tools, apps and corporate websites, and physical channels such as in-store experience, IoT and the contact with the attendants.
In an age marked by the information dispute, companies are finally realizing that the data offered by customers is worth more than gold. International consultants such as Gartner indicate that 90 percent of companies will put data management as part of their business strategy by 2022.
The good news, in this case, is that the main sources for collecting information are already part of the day-to-day life of most retail organizations.
In order for this database to be built throughout the purchase day to be a competitive advantage, it is important that companies also seek partners with knowledge and experience in this sector.
Another trend observed in the field is that brands are inviting consumers to build the product they want to take home. Clothing stores are operating with spaces of customization, attracting more and more public of diverse ages, valuing the co-creation.
The path of innovation and exclusivity is used to enhance the relationship with consumers, creating differentiated experiences according to the preferences of each shopper. The possibility of retaining information throughout the day of consumption can be a practical opportunity to create much more interesting and effective experiences.
The omnichannel performance is much more than a simple differential. Investing in multiplatform integration is a chance to create practical ways to connect and retain consumers, and also to take advantage of all the channels and opportunities to get to know them better. This is especially important in view of the fact that market studies have already made it clear that loyalty to the current consumer can be up to 50% cheaper when compared to the effort to bring in a new customer. The intelligence that technology brings to the business reduces costs and protects the profitability of operations.
The evolution of technology and the opportunity brought to the fore with data analysis systems are adding intelligence to the sales process, both in in-store experience and in relation to all customer service. Brazil is in search of this transformation! It is not enough to know which brands and organizations will have the most appetite for innovation, with buy, built and partner, in order to accelerate the transformation of POSs into true centers of consumer experience.
* Marcelo Chianello: CEO of Liq
Read this article in Meio & Mensagem: click here.