NOVEMBER 2017CIOAPPLICATIONS.COM9Retailers have to Integrate Data Across the Retail enterprise to have a 360-degree view of the customer. How do you get this right?The fundamental objective is to give customers a consistently high level of service regardless of where or how they interact with a brand. We can do this by making it easier and more convenient to shop, enriching the quality of buyer interactions, and by anticipating the needs and expectations of our customers. If one of our customers from London visits a New York store, sales associates should be able to recognize that individual and pinpoint his or her buying preferences and purchase history within a matter of a few seconds. Likewise, when a shopper dials customer service, every touch point we have with the customer should be reflected and aggregated. In this way, a good 360-degree customer view can help brands personalize their service in real time.Many retailers focus on merely marrying in store transactions with ecommerce transactions but the 360-degree view of the customer transcends that. The customer master database of the future should have every single touch point that the customer has had with the retailer regardless of whether or not it culminated in a sales transaction. This includes a full understanding of communication preferences, style and size preferences, as well as the relationship between sales, promotions and returns. This should be augmented with external data including demographic information as well as social media sentiments. Ultimately, we need to know our customers not as data points but as people. Furthermore, a look at the metrics and data behind every customer touch point can expose bottlenecks in the customer experience.Can you please share some of the unique lessons learned and your advice for fellow marketing leaders?Online influencers and friends in the shopper's personal network are now the most trusted sources of information that drive purchases. Conventional advertising channels are being displaced by these individuals and word of mouth advertising. Retailers need to focus on telling their story through content and embrace video which is a rapidly growing channel. McKinsey reports that "marketing-induced" consumer-to-consumer word of mouth generates more than twice the sales of paid advertising. Those sales have a 37 percent higher retention rate. In addition, user generated social posts account for 25 percent of search results for the world's top 20 brands, improving search engine rankings and driving greater awareness. Based on these statistics there is little doubt that satisfied customers are the lynchpin of brand advocacy. So why then are brands only focusing attention on the sales funnel? Customer service after the purchase is just as important if not more critical. Retailers should think about customer lifetime value and provide the same white glove service in handling customer issues and complaints. Embrace the contact center and online service channels to provide an engaging and personable experience for the customer. This will drive higher retention and further word of mouth advertising. Too many brands have lost the sense of empathy and fail to recognize that customer service can be a powerful form of marketing to strengthen relationships with customers. Finally, every single engagement a brand has with a customer or prospect should not just be about pushing product. Customers are seeking authenticity. It is important to connect with them on a personal level and not lose sight of your unique value proposition and the spirit of why they are engaging with your brand in the first place. Innovations in customer engagement and experience will allow retailers to stay relevant and grow their presence
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