Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions.
0 likes452 views
The document outlines a conference plan focused on the advantages and implementation of predictive e-marketing tools, emphasizing their role in improving customer engagement, optimizing pricing strategies, and enhancing overall business profitability. It discusses the importance of data integration, understanding consumer behavior, and effective merchandise planning for maximizing business outcomes. The key takeaway is that utilizing predictive analytics can significantly reduce waste and improve marketing efficiency in e-commerce.
Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions.
- 1. 1
- 2. CONFERENCE PLAN I. The benefits of using predictive E-marketing tools II. Building your predictive infrastructure III. Why Planning is a Must IV. Securing your new business & repeat business V. Predictive model use case 22-3 March 2017
- 4. THE MAIN QUESTIONS ARE … ✓ Have you ever dreamed about learning what products your customers would be the most likely to buy in advance? ✓ How great would it be if you could maximize your profits by determining the highest price a customer will pay for a product? ✓ What if you could optimize customer relationship to cross-sell and up-sell proactively ? ✓ Do you think this sort of advanced insight would allow you to make even more money from your e-commerce efforts? 42-3 March 2017
- 5. PREDICTIVE ANALYTICS MAKE A REALITY THE IMPROVE OF YOUR CORE BUSINESS. ✓ Improve Customer Engagement & Increase Revenue ✓ Launch Promotions That Are Better Targeted For Your Customers ✓ How shoppers will behave in the future ✓ Save companies money by honing marketing efforts ✓ Customer lifecycle analytics ✓ Helps smaller e-commerce merchants stay competitive. 52-3 March 2017
- 6. PREDICTIVE ANALYTICS MAKES A REALITY THE IMPROVE YOUR CORE BUSINESS. ✓ Putting all the sources together allows marketers to gather valuable insights. ✓ Minimizes wasted marketing dollars. ✓ Predictive analytics give marketers a more detailed view of where their customers are and how to focus marketing spend. ✓ The biggest business problem that predictive analytics tools could help solve this… ➢ Eliminating the unknown. ➢ Why are customers leaving? 2-3 March 2017 6
- 7. PREDICTIVE ANALYTICS TAKES : ✓ A different approach by building a model to support real-time pricing that uses input from various sources like: ➢ Historical Product Pricing ➢ Customer Activity ➢ Preferences & Order History ➢ Competitor pricing ➢ Desired Margins On The Product ➢ Available Inventory ✓ Pricing Management is an ongoing process and needs to be monitored closely to avoid automated price changes causing issues in the retailer’s environment 2-3 March 2017 7
- 9. TODAY WE ARE IN A POSITION TO … ✓ Identify and reach out to our customers ✓ Understand the 'shopping mission'. ✓ Defining what the customer : ➢ is likely to buy ➢ how this can be fast ✓ Setting the right shopping context ✓ Use of machine learning & predictive analytics ✓ Understanding consumer behavioral patterns 2-3 March 2017 9
- 10. INFRASTRUCTURE TO WIN NEW CUSTOMERS, KEEP YOUR IMAGE AND MAINTAIN YOUR CUSTOMERS Must Important Dates of the year Define an optimization plus the historical data to support the program schedule Define the rules and products that will dynamically be previewed in each page listing Adapt your shelves supported with behavioral product recommendations Respect the season, new products, and top rated products Plan your stock 10 1 2 3 4 5 2-3 March 2017 6
- 11. 112-3 March 2017
- 12. IT IS IMPORTANT THAT YOU REALIZE PREDICTIVE ANALYTICS TOOLS ARE NOT JUST A PLUG & PLAY SOLUTION 2-3 March 2017 12
- 13. THE STRATEGY … ✓ To take the right data in the right way to get the best return on investment. ✓ How to take the right data in the right way and apply it. ✓ It’s the 80/20 Rule. 2-3 March 2017 13
- 14. THEN WHY IS IMPORTANT E-MERCHANDISE PLANNING ✓ Predictive capabilities let business : ➢ take service to the next level ➢ deliver a superior customer experience, pure and simple ✓ It is a "systematic approach" in many ways ➢ the systems to ensure that you have the right people, ➢ the right processes, ➢ the right computerized support, The software available is merely an enabler, We put effort into Merchandise Planning "to increase profitability". 2-3 March 2017 14
- 15. CROSS-CHANNEL MERCHANDISE PLANNING PROCESS If we assume a turnover of 117,4 € million A typical retail clothing business will lose about 15% of its turnover in markdown and perhaps 10% due to lost sales. Then we are looking at a loss of 29,3 € million here. Can reducing each of these figures 1 % Adds to the bottom line 2,35 € Million 2-3 March 2017 16
- 16. 172-3 March 2017
- 17. UNDERSTANDING YOUR CUSTOMERS IS THE KEY TO … ✓Stablish an infrastructure linked to your merchandising planning will save ✓Keep converting your existing customers should be part of your infrastructure and planning ✓To nurture a marketing campaigns ✓ Workflow and triggers will allow you to spend less time ✓Money on lead Generation and promotional material to your sales 2-3 March 2017 18 Awareness Engagement Sales
- 18. SALES FUNNEL 19 Typical content includes newsletters, customer reviews, press releases, social ads Lots of content or personalized products, both in quality and variety. 2-3 March 2017
- 19. SALES Keep in touch with more customers for a longer amount of time increasing the chances of a conversion Maintaining your customer’s lifecycle for an extended period is what makes personalization important. 2-3 March 2017 20
- 20. MANY COMPANIES SAY THAT THEY WANT TO OPTIMIZE INVENTORY Common Obstacles to Inventory Management Reducing Forecast Error Over- Stocking and Under- Stocking Common Obstacles to Inventory Management 21 1 2 3 4 2-3 March 2017
- 21. SECURING YOUR NEW BUSINESS & REPEAT BUSINESS ✓ On the flip-side, under-stocking is just as bad. On that end, while you free up capital, you run the risk of losing sales due to not having anything to sell. This can also hurt your reputation ✓ To organize your e-merchandising “shelf units” and linked all your e-business action step by step to maximize your business, reduce stock cost, target your e-marketing spends on products which represent 80% of your Turnover. 2-3 March 2017 22
- 22. 232-3 March 2017
- 23. Category Pages Customized product recommendations Search engine HAS COME UP WITH A STRATEGY TO OPTIMIZE ITS MERCHANDISING 2-3 March 2017 24 Focuses on Conversion rate + 26 % Teams save up to 8 h/week 60 % of purchases go through page categories
- 24. PLANNING TOOLS ALSO ENABLE TO MEET THEIR NEEDS ✓ Planning to promote products ➢ B to C ➢ B to B ➢ Shelf units ✓ Planning of highlights of the year 2-3 March 2017 25
- 25. 29 THANK YOU FOR YOUR ATTENTION GRAZIE MILLE 2-3 March 2017