Teradata Mastering Omni-Channel Retail eBook by Bing Design

Mastering Omni-Channel Retail in a Data-Driven World Introduction Painting a 360-Degree Consumer Picture Diving Deeper with Data Analytics Putting Insight Into Action Teradata Solutions Omni-Channel Retail Resources

In today’s fast-moving, digital world, data is king. Everything you want to know about your customers and prospects – from browsing history to path-to-purchase to online activity – can be discovered through data. It’s critical for retailers to be able to uncover, understand, and act upon that information to create the best consumer experience. 2

Customers want a seamless,

360-degree view of your customer

cross-channel interaction with

based on purchase history,

your brand. Whether they’re

extended demographics, shopping

ordering online or browsing

behavior, and additional granular

your in-store aisles, they expect

pieces of data to fuel an integrated,

to be recognized and valued.

customer-centric experience –

Omni-channel retail marketing –

helps you meet that expectation.

the process of creating a

To learn more about what a successful omni-channel experience looks like, watch our Omni-Channel Retail video and discover how Sarah’s success as a CMO links directly back to the experience she provides to each of her customers.

Painting a 360-Degree Consumer Picture

â&#x20AC;&#x153;Our customers want to shop anytime, anywhere. It is no longer about choosing between shopping online or shopping in the store; it is increasingly about both. We therefore must deliver an integrated retail experience across all channels.â&#x20AC;? ~ Mark Bonchek, SVP Communities and Networks, Sears Holdings, April 2012

From smartphones to web sites to

The first step in increasing

in-store kiosks, you’re able to reach

customer engagement and loyalty

your consumers more effectively

is gathering all accessible data to

and efficiently than ever before.

develop a 360-degree consumer

But consumers are in control of

view. It’s critical to first understand

their experience, and they expect

all the data sources that are

to be recognized regardless of how

available, and to then effectively

they choose to engage with you.

use the data from those sources to develop a comprehensive view of each of your customers.

To understand the power of a 360-degree, data-driven consumer view better, take a moment to watch Retail TouchPoints’ interview with Teradata vice president, Marc Schroeder.

Then read Tim Simmons’ informative Q&A to gain a more in-depth understanding of the challenges and opportunities data creates for both consumers and retailers.

Diving Deeper with Data Analytics

3500

Innovators

Adaptors

ximate number ds you will be sed to in a day.

Mainstream

ximate number you will be able ecall in a day.

Laggards

An additional challenge for

online or in-store? If she prefers an

retailers is analyzing all the data at

in-store experience, which location

their fingertips to drive educated,

is her favorite?

well-informed marketing decisions. Successful retailers use pertinent consumer data to drive every marketing decision they make. When was her last purchase? How often did she browse a specific product? Is she more likely to buy 6

Fully understanding consumersâ&#x20AC;&#x2122; data patterns is a required predecessor to creating compelling, personalized offers that ultimately drive revenue and increase customer loyalty.

TYPES OF CONSUMERS 41% of retailers surveyed expect in the next five years to provide personalized product details – based on previous behavior – to a shopper’s smartphone.” ~ Motorola Retail Vision Survey, May 2012

For a deeper understanding of the role analytics plays in increasing customer retention, listen to Teradata’s Tim Simmons interview with RIS News. 7

Putting Insight Into Action

â&#x20AC;&#x153;The overarching theme in our company continues to be about improving the customer experience across all channels.â&#x20AC;? ~ Blake Nordstrom, Nordstrom President

Once retail marketers understand

and inventory data, retailers can

consumer behavior through

create a personalized customer

analytics, they can use segmentation,

experience every time – both online

personalization, and campaign

and in the store.

management solutions to engage their customers at the right time, via the right channel, with the right message.

A critical component of customer satisfaction lies in inventory forecasting. By using advanced technology to ensure the right

By creating an integrated view

inventory is available and by accurately

of consumers across channels in

forecasting consumer wants and

real time, and by arming in-store

needs, retailers can see multi-million

employees with the latest customer

dollar return on investment results.

To dig deeper into inventory forecasting and replenishment tools and initiatives, download our Forecast Challenges and Demand Chain Management Approaches whitepaper now.

Then take a look at our Mastering the Omni-Channel Challenge infographic to get a “big picture” view of the omni-channel retail journey.

And for a detailed five-step guide to creating a data-driven strategy that blends technology with the physical store, don’t miss Mike Day’s Personalizing the Store Q&A.

Data analytics and personalization will continue to be critical factors in 2012 and beyond. ~ Deloitte

Teradata Solutions

With Teradata’s unique offerings,

consumer’s retail personality

retailers can connect all data across

(e.g., path-to-purchase, abandoned

the enterprise – in marketing,

basket history, browsing habits).

within the warehouse, at individual

Armed with this valuable

store locations – to establish a

information, retailers can rely on

360-degree consumer view. With

Teradata applications to provide

Teradata’s advanced analytic

personalized, targeted, and relevant

capabilities, retailers can then

communications, thus increasing

gain deeper insight into each

customer satisfaction and loyalty.

To see the power of Teradata in action, watch DSW’s Social Media and Customer Strategies for High Impact Retail. By successfully leveraging Teradata products and services to create a true data-driven environment, DSW offers their consumers a personalized, relevant retail experience.

Learn more about integrated channel intelligence with the Teradata Rapid Insights Platform. Learn more about Teradata’s Retail Solutions – and further your omni-channel journey – by exploring the additional resources provided in this document.

Omni-Channel Retail Resources For more information about the power of omni-channel retailing, please consult our extensive list of available resources.

Videos

Retail TouchPoints Interview Omni-Channel Retail Video

with Teradata’s Marc Schroeder

DSW’s Social Media and Customer

RIS News Interview with

Strategies for High Impact Retail

Teradata’s Tim Simmons

Infographics

Mastering the Omni-Channel

The Growing Trend of

Challenge Infographic

Showrooming

Download this Omni-Channel eBook in PDF format.

White Papers

Articles

Transforming

Omni-

the Retail CMO

Channel

Through Data-Driven

Retailing:

Marketing

Integrating All Retail Channels for a Consistent, Consumer-

Forecast

Oriented Shopping Experience

Challenges and Demand Chain Management Approaches

Personalizing the Store

Brochures Integrated Channel Intelligence for Omni-Channel Retailing

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