The Connected Consumer
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The document discusses IBM's Smarter Commerce initiative aimed at enhancing customer interactions and experiences through an integrated approach across multiple channels. It highlights the changing landscape of consumer expectations and the challenges retailers face, such as shrinking margins and increased competition. The initiative focuses on leveraging customer insights to create personalized offers and a seamless shopping experience, enabling retailers to stay competitive in a fast-evolving digital marketplace.
The Connected Consumer
- 2. Your GoToWebinar A/endee Viewer is made of 2 parts: 1. Viewer Window 2. Control Panel Type your quesAon here
- 4. Launched in 2007 Over 20,000 subscribers To provide executives with relevant, insightful content across a variety of digital mediums Free subscription to our weekly newsletter… www.retailtouchpoints.com/signup
- 5. SPEAKER SPEAKER SPEAKER Moderator Chap Achen Jim Bengier John Mesberg Senior Director of Multi- Global Retail Executive Vice President, B2B & Debbie Hauss Channel Order Mgt. Sterling Commerce, an Commerce Solutions Editor-in-Chief IBM Company IBM Retail Best Buy @BestBuy @SterlingComm @IBM TouchPoints @RTouchPoints
- 6. June 2011 Smarter Commerce Redefining customer cross-‐channel interac:ons and outcomes for retailers © 2011 IBM Corporation
- 7. Agenda IBM introduc:on to Smarter Commerce How Smarter Commerce cross-‐channel impacts the customer Roundtable ques:ons Audience ques:ons 7 © 2011 IBM Corporation
- 8. We have entered the age of the smarter consumer Instrumented Interconnected Intelligent 662 million ac:ve 95 million tweets are sent Only 18% of people trust users on Facebook each day informa:on from retailers and manufacturers Half of consumers globally 45% of consumers The number one desire use two or more ask friends before while shopping is a technologies to shop purchasing personalized and relevant experience 8 Source: Institute for Business Value Retail 2011 Global = 30624 © 2011 IBM Corporation
- 9. Today’s consumers are fundamentally changing industries, brands, interac:ons, and rela:onships “Sales of 4,500,000 iPads in 3Q 2010”* 9 Source: :Fortune October 5, 2010 http://tech.fortune.cnn.com/2010/10/05/how-many-ipads-has-apple-really-sold/ © 2011 IBM Corporation
- 10. Consumer expecta:ons exceed retailer capabili:es Consumers want retailers to… Listen: Engage in a continuous and relevant dialogue by embracing the consumer’s voice to influence products, services and brands Know: Leverage customer profiles and preferences across all touchpoints to understand and anticipate behavior in order to personalize offers and interactions Empower: Provide access to pricing and inventory to enable convenience and product accessibility for the demanding and price-sensitive consumer 10 © 2011 IBM Corporation
- 11. Consequently, retailers are seeing shrinking margins, blurring of business models and increased compe::on… In this new era, retailers are seeing: Commodi:za:on of products as lifecycles grow shorter and product is replicated across new outlets Mobilized shopping based on the connected consumer’s access to informa:on anywhere any :me Channel expansion through ecommerce, social, and mobile to reduce cost of entry 11 © 2011 IBM Corporation
- 12. …causing these retailers to ask ques:ons along three key dimensions of the customer rela:onship What value should I bring? Who is my customer? In turn, you must re-‐think In today’s fast-‐paced business, how your customers define you require real-‐:me value so you can deliver insights, that allow you to exactly what they want — turn informa:on into profitably immediate ac:on How do I engage with them? Customer You need an approach that allows you to more effec:vely connect, collaborate, conduct …increasing the value companies generate commerce and create a for their customers and supply chain differen:ated customer partners in a rapidly changing digital world experience 12 © 2011 IBM Corporation
- 13. At IBM we call the approach forward: Smarter Commerce Smarter Commerce combines IBM products, services, and assets into an integrated approach to help retailers put the customer at the center of their business Who is my customer? Drives intelligent Creates and adap;ve personalized and supply networks relevant offers based on with seamless consumer demand cross-‐channel interac;ons Supply & Merchandise Market Serve Customer Sell An;cipates Enables customers behavior and and partners to delivers flawless buy what they customer want, any;me and service across anywhere all channels 13 © 2011 IBM Corporation
- 14. Retailers benefit from a Smarter Commerce approach… It maximizes the insight It capitalizes on generated through social and mobile customer interacAons commerce It drives growth by It synchronizes enAre enhancing, extending operaAng network to and redefining the deliver consistent and value provided predictable outcomes Customer It increases margins by It gives customers control boosAng efficiency at every and influence of their stage of the commerce cycle shopping experience 14 © 2011 IBM Corporation
- 15. What Smarter Commerce means to these clients Supply & Market Merchandise Sell Serve Op:mized inventory Increased sales per web Cross-‐channel order Increased customer assortments and visitor by 41%. Also and inventory sa:sfac:on by product availability by increased open awareness improved increasing fill rates and analyzing 400,000 and click-‐through efficiency and fill rate reducing backorders by items rates to five :mes the on web orders to 85% industry average nearly 100 percent 15 © 2011 IBM Corporation
- 16. Agenda IBM introduc:on to Smarter Commerce How Smarter Commerce cross-‐channel impacts the customer Roundtable ques:ons Audience ques:ons 16 © 2011 IBM Corporation
- 17. Two key Smarter Commerce cross-‐channel customer interac:ons Integra:ng a seamless customer experience across mul:ple interac:on channels Capturing consumer behavior allows for personaliza:on 17 © 2011 IBM Corporation
- 18. To the consumer, Smarter Commerce solu:ons deliver a seamless shopping experience across various touchpoints IntegraAng a seamless customer experience across mulAple interacAon channels Web (WebSphere Commerce & Portal) Mobile (WebSphere Commerce Mobile Store) In Store POS, Digital Promo:ons, Kiosks (Retail Store Solu:ons) Call center (Sterling Order Management – Call Center) “Web” Social Media “Social Networks” “Mobile” Customer “Store POS & “Call Center” Kiosks” Sterling Order Management – Retail Store Systems Call Center 18 © 2011 IBM Corporation
- 19. Smarter Commerce solu:ons capture consumer behavior and allows for personaliza:on Take ac:on based on a consistent view of a consumer’s order across mul:ple channels Coremetrics is used to track consumer ac:ons, and make relevant recommenda:ons The e-‐commerce web site and order capture is provided by WebSphere Commerce Sterling Order Management maintains a consistent view of the consumer’s order Unica creates and manages specific promo:onal campaigns and offers The POS from Retail Store Systems integrates with the en:re system to process promo:ons, tally items, take payment, and complete the transac:on Consumer receives targeted TV promoAon Consumer phones the call center to by Unica check the delivery Aming. Call center advises that TV is in a local store for Consumer saves the immediate pickup transacAon in their Consumer is targeted shopping cart using Sterling Order Management and shown a web ad WebSphere Commerce based on what they are POS prompts to searching online. recommend an Content was selected by Consumer uses offer for Coremetrics mobile phone to both extended price compare and Consumer visits the warranty … store to pickup the sold! then complete their TV, views the order original order via the IBM Kiosk/ POS Capture responses and refine 19 © 2011 IBM Corporation
- 20. Agenda IBM introduc:on to Smarter Commerce How Smarter Commerce cross-‐channel impacts the customer Roundtable ques:ons Audience ques:ons 20 © 2011 IBM Corporation
- 21. Audience QuesAons? For more informa:on: Jim Bengier jbengier@us.ibm.com 21 © 2011 IBM Corporation
- 22. Your GoToWebinar A/endee Viewer is made of 2 parts: 1. Viewer Window 2. Control Panel Type your quesAon here
- 23. SPEAKER SPEAKER SPEAKER Moderator Chap Achen Jim Bengier John Mesberg Senior Director of Multi- Global Retail Executive Vice President, B2B & Debbie Hauss Channel Order Mgt. Sterling Commerce, an Commerce Solutions Editor-in-Chief IBM Company IBM Retail Best Buy @BestBuy @SterlingComm @IBM TouchPoints @RTouchPoints
- 24. You can download this presentation here: http://rtou.ch/connected-consumer