Finding Just What Retail Consumers Need — Even Before They Need It
Your customers, the retail consumers, generate a lot of data, and what you do with that data can become a true competitive advantage. Things like process mining, advanced analytics and artificial intelligence (AI) can turn data into actionable intelligence that keeps consumers loyal and drives up revenue.
“Have it your way”
Today’s tech-savvy retail consumers see no difference in a retailer’s various platforms or systems – to them, it’s all one shopping experience. They expect an “omnichannel experience” – a high level, seamless flow whether they’re shopping online, in-store, through mobile or calling in. Part of that experience is personalization (or even “hyper-personalization”). In one survey, a whopping 83 percent of consumers wanted their shopping experience to be personalized, meaning things like offering individualized, specific product suggestions; remembering consumer preferences; targeting relevant, wanted ads, and predicting future needs.
COVID-19 accelerated these already ongoing changes to the omnichannel experience and hyper-personalization. With drastically reduced foot traffic, brick-and-mortar places pivoted by beefing up their online presence and creating new delivery options. Expert online sellers scrambled to ensure their scalability and delivery processes. For retail consumers, the new options and functionality are now a part of the omnichannel experience they expect.
Moving toward hyper-personalization
Your customers generate a lot of data, and they are fully aware that you’re collecting it. What you do with that data can go a long way toward creating the hyper-personalization they expect. Here’s how:
Process mining shows you how your customers move and interact throughout your organization. Every day your customers generate a digital footprint when they interact with your company systems, such as ERPs, CRMs, application databases, log files, audit tables and many others. With this hard data you can visualize and diagram fact-based customer journey maps. You’ll gain greater insights and understanding of your customers’ digital interactions, thereby helping to create a better customer experience.
We all know that siloed, legacy systems cannot respond to the demands of today’s consumers. Integrating a myriad of systems means upgrading the on-prem and/or adding the latest cloud or hybrid cloud platforms to get the speed, flexibility and scalability you need. For example, assume a highly valued customer’s purchases on a retailer’s website were automatically communicated to the sales team at that customer’s usual brick-and-mortar site. With that knowledge at hand, the team can make very specific recommendations the next time the customer visits the store.
Artificial intelligence (AI) solutions automatically detect sophisticated, predictive data patterns that would otherwise be missed through normal business intelligence analysis. Predictive AI can generate things like the “next likely purchase” and support highly specific, targeted ad campaigns. These are the high level, high touch experiences that cement customer loyalty and repeat revenue.
Prolifics can help you unlock your data. We are a global digital transformation leader with expertise in cloud, data and analytics, DevOps, digital business, and quality assurance across multiple industries. Prolifics provides consulting, engineering and managed services for all our practice areas at any point you need them – giving you fast, complete solution delivery experiences that you will find nowhere else. Whether it’s initial advising and strategy; design and implementation; or ongoing analysis and guidance, Prolifics will help you take charge of your digital future. Email firstname.lastname@example.org or visit prolifics.com.