Omnichannel Customer

The Impact Of Customer Analytics In The Age Of The Omnichannel Customer

Retail in the new decade is very different from what brands expected at the beginning of the new millennium. Armed with smartphones giving access to hundreds or thousands of apps for comparison, shopping, and exclusive deals, a typical customer today makes very informed buying decisions in an instant. Customer experience drives retail transactions. Businesses must strive to offer a consistent omnichannel experience to all customers in every channel they use.

Omnichannel retailing virtually displaces the thin line that existed between physical in-store shopping and the world of e-commerce. US shoppers alone spent a record USD 34.36 Billion on e-commerce websites over 5-days from Thanksgiving to Cyber Monday. The spike in spending online may have been due to the COVID 19 pandemic which largely affected in-store purchases. Nevertheless, brands and retailers have been trying to make the omnichannel experience rewarding for customers who look to buy their favorite goods at the most desirable prices and with greater convenience.

The key weapon they can rely on to create powerful omnichannel experiences is customer analytics. Retailers need to leverage analytics to drive the buyer journey forward as customers become more demanding in terms of the value they get for every dollar spent.

So, how does customer analytics help? Let us have a look at 4 areas where customer analytics can deliver a great impact in the age of omnichannel customer experience:

Personalize Every Interaction

Over the course of a shopping journey, customers may interact with different departments across a retail organization from sales to logistics, support, returns, finance, etc. to name a few. To offer a truly personalized experience for shoppers, it is important to analyze and identify the challenges in these interactions with each department and solve them. It is also
crucial to understand exactly how different customers interface with these different functions and for what purpose.

Deep analytics can help retailers to identify the key elements to focus on to deliver a personalized customer interaction. Some examples could be the right time to send a promotional email, the best products to be used for cross-selling or up-selling, the favorable budget or price range for a customer, the preferences the customer has for longer support services after purchase, etc. Only then will retailers be able to deliver unique customer experiences irrespective of the medium they use like mobiles, web browsers, or in-store purchases.

Unifies the Commerce Experience

Surveys have shown that nearly 85% of retailers prioritize the need to have a unified environment for shoppers. Irrespective of which medium they use to purchase items, they understand that the experience should be consistent. Retailers need to unify the experience so buyers can keep moving forward in the journey even as they switch devices and channels.

By using customer analytics, companies can also gain insights into what will engage customers at each stage and then use the same to simplify the journey. This journey stretches from supply chain to inventory and warehouse management to logistics. It covers pricing on all channels ranging from physical brand stores, multi-brand retail outlets, and online retail in both web and mobile platforms. Customer analytics helps companies to uncover hidden insights in each of these areas and this value can be translated into better and more personalized experiences across all interaction points with the customer to
create a consistent and unified model.

Enables Strategic Marketing

Customer analytics enables retailers to learn more about what customers need and how they plan to go about procuring the same. This insight can fuel data-driven targeted marketing campaigns and initiatives that span channels and which have a higher chance of converting. In an omnichannel environment, brands can leverage analytics to know what works well in-store and what works best online and then focus on creating marketing messages that deliver more value for shoppers relevant to their past actions and choices.
With analytics, it is possible to identify hot trends and scale-up campaign outreach across millions of interactions on the web and in physical stores.

Forecasting Demand

As mentioned earlier, analytics enabled retailers to gain insights into previously hidden customer preferences. For example, a retailer might understand that customers research some specific items online but prefer to buy them in-store after a final inspection or trial. This insight can be used to ensure the availability of goods in stores based on an analysis of the search and content consumption trends in an area. Such strategies help prevent overstocking of items and control costs in the process and can even help in optimizing the supply chain to ensure the demands of all channels are optimally met. By running analytics on results from marketing activities, it becomes easier for brands to predict sales and demand from different channels and fine-tune their efforts to provide customers with their desired experiences for every interaction.

As digital transformation takes root across the retail landscape, retailers have the opportunity to tap into data from different sources that tells them more about their customer. For instance, earlier, a footwear retailer could only promote the desired brand to shoppers who they knew were interested in shoes. But today, the brands have a much more nuanced view of the customer. Based on analysis of their online behavior and by tapping into the information available from other channels such as the number of steps he or she makes in a day, brands can create specific product bundles that are exactly right for them.

Data is available. It’s now up to analytics to play a larger role in helping brands establish a better relationship with customers by driven more concerted strategies that account for the omnichannel customer.

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author: Name of Author     Date:Jun 2,2021

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Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

Coastal Construction Products Partners With Ignitiv and Kibo to Jumpstart eCommerce Growth

“With this solution, we want to establish and sustain digital leadership in the construction industry." - Tim Lavinder, Director of Digital Strategy at Coastal

CUPERTINO, CALIFORNIA, US, May 28, 2021 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are announcing that Coastal Construction Products has selected Ignitiv and Kibo to jumpstart their B2B Commerce growth with Kibo’s Unified Commerce Platform. Coastal’s B2B Commerce solution will combine unified omnichannel B2C-like experiences with streamlined B2B processes. Coastal’s business customers will get personalized product information, rich associated content, real-time inventory updates, customer and job-specific pricing, and the ability to order quickly and in a streamlined manner – all leading to a superior experience.

Coastal will also benefit from a seamless integration between Kibo and Prophet21 ERP software using SimpleApps’ REST API.

Tim Lavinder, Director of Digital Strategy at Coastal, said, “With this solution, we want to establish and sustain digital leadership in the construction industry. Our goal is simple - deliver real and unique value to our customers through a tool that puts their needs first.”

“Coastal’s strategy to create unified ecommerce experiences for their customers is the best way forward in our omnichannel world, continually improving performance and process at across every customer touchpoint. We’re excited to partner with Ignitiv and Coastal as part of their integrated, data-driven approach,” said Brian Wilson, COO, Kibo.

“Great mobile-first design that optimizes the customer journey, a platform that combines Commerce, Order Management and Personalization, and comprehensive integration to ERP are the three levers we are using to build a platform for growth for Coastal Construction Products,” said Rajib Das, CEO of Ignitiv.

Coastal Construction Products is one of the largest independent distributors of caulking and sealants, waterproofing, concrete repair, and fire protection products in the United States. With roots going back 40 years, Coastal Construction Products has worked with its construction industry customers across the Southeast and the Caribbean, assisting them with quality materials and support.

About Ignitiv
Ignitiv is a full service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitv is the partner of choice for Home Hardware, Canada Post, United Hardware and Bi-Mart.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

#ignitiv #leadtheexperienceeconomy #coastalconstruction #ecommerce #kibocommerce #unifiedcommerceplatform #prophet21

 

United Hardware to fuel eCommerce growth with Ignitiv and Kibo

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce