Delight Customers at Every Point of Engagement

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1 Delight Customers at Every Point of Engagement Transforming the In-Store Experience with Mobile Technology May 23,

2 Today s Speakers MEET TODAY S SPEAKERS Bernardine Wu FitForCommerce Founder & CEO Bill Zujewski Tulip Retail EVP Marketing Dominique Essig Bonobos Chief Experience Officer 2

3 3 WHAT WE LL COVER

4 FitForCommerce A specialized consultancy founded to help online businesses accelerate growth. Trusted advisor to hundreds of global companies. Client Sampling Digital Diligence A philosophy and our methodology based on an investment and due diligence mindset for decision-making and execution to ensure success. Recruiting For strategic and senior talent that aligns with digital strategy. ecommerceknowhow.com The first ecommerce knowledge base: Best practices, expert advice and info on 100s of features, functions and topics, 100s of provider and solution comparative info. NRF Omnichannel Retail Index & FFC Benchmarking Structured detailed benchmark studies. The Innovation Office Filtering, curating, peer sharing, applied advisory on retail innovations. 4

5 Tulip Retail Overview Cloud-based retail mobile platform built exclusively for store associates and store managers Out-of-the-box suites for Assisted Selling, Clienteling, Checkout, Store Communications Mission To transform the in-store shopping experience To make retailers best-in-class through mobile-first, cloud-first enterprise software Empowering the Next Generation of Store Associates with Mobile Apps

6 EXPECTATIONS OF TODAY S SALES ASSOCIATE Not just stocking shelves, looking for products, ringing customers up they also have to be digitally-connected personal shoppers, fulfillment specialists, brand champions, customer advocates, and service agents. 6

7 WHAT WE RE SEEING AND HEARING Findings from the NRF-FFC Omnichannel Retail Index % of retailers empower sales associates to look up items online or from another store if the item is not available. 61% of retailers offer buy in store and ship anywhere. 32% of retailers offer the ability to buy online and pick up in store. 7

8 MASTERING OMNICHANNEL Omnichannel and Digital Marketing Data/Analytics-based Customer segmentation Personalization Single View of the Customer Omnichannel Customer Experience Merchandising Store / Site / Mobile / Social / Wholesale / etc. Experience Content and Context Customer Service Cross-Channel Enablement Data: Master Data Management, CRM, BI Order Management, Inventory look-up Operations: Ent Inventory, Fulfillment, Store Ops Knowing her interests to prove relevancy. Personalization is the New Omnichannel Knowing her preferences. Helping her find it quickly. Wherever, however, whenever she wants. 8

9 Understand your customer - what channel does your target customers prefer to research, browse, and purchase in? Conduct gap analysis between current customer journey and the ideal shopping experience Invest deliberately in table stakes vs. best practices vs. innovation Test, adjust, test, adjust THRILLING YOUR CUSTOMER Strategy, business model, and tactics must reflect your omnichannel aspirations. 9

10 M A N A G E M E N T P R E S E N TAT October 2016

11 W E ST ART ED W I TH A SIMPLE I D EA: LET S MAKE I T EASY FOR GUYS TO FI ND PANT S T HAT FI T Fixed waistband Low cut Way too much room in the thighs Curved waistband Matches the natural shape of your waist. No more bunched waists or baggy seats Medium, flattering rise Best of European and American cuts Trimmer cut through the thigh Fit that s trim but still accommodating The Jim Harbaugh Look The Look

12 W E H AV E N O W E X PA N D E D T H AT F O C U S O N F I T T O T H E E N T I R E C L O S E T

13 GREAT CUSTOMER EXPERIENCE 1 34 Guideshops across country M A N A G E M E N T P R E S E N TAT October 2016 Superior Customer Service Free Shipping + Returns 90-day Return Policy

14 Guideshops are a physical opportunity for M A N A G E M E N T P R E S E N TAT customers to October experience 2016 our brand in real life

15 LEVERAGING TECHNOLOGY TO REDUCE HASSLE The Guideshop Point of Sale Due to rapid store growth Bonobos needed a way to enable Guides with the tools necessary to serve the customer Launched POS with the goal of a smoother and more customer-friendly shopping journey M A N A G E M E N T P R E S E N TAT October 2016 Guides use one tool for from the onset of an appointment, through shopping the catalog, checkout, and post appointment follow up Integrated customer profile and account across all channels and devices Initial Tulip pilot Jan 2016, rolled out to all stores April 2016

16 MEASURING SUCCESS High Satisfaction scores 12% increase in AOV 4.7% increase in UPT And rising NPS scores Most importantly, customer data is fed back into centralized data warehouse to feed reporting, customer personalization, and marketing programs across channels. M A N A G E M E N T P R E S E N TAT October 2016

17 SO, WHAT S THE NEXT EVOLUTION OF CLIENTELING? Extending the relationship between Guide and customer beyond 4 walls to: Create an easier process to following up with customers Increase in-store and at-home conversions M A N A G E M E N T P R E S E N TAT Enable standardized communications with clients October 2016 Clienteling Key Features 1. Customer Information: view past shopping history, style preferences, and notes 2. Top Customer: view and access the last 100 customers captured 3. Client Follow-Ups: consolidated messaging history and standardized best practices on communication cadences 4. Store Associate Performance: associate, conversion, traffic, and loyalty metrics

18 POLL What is the status of implementing mobile apps for your store associates? Researching Planning / implementing Deployed basic capabilities Deployed best-in-class capabilities No interest / not a priority 18

19 The store associate is a retailer s most important asset

20 There is a digital divide between the store associate and the

21 Retail Store Experience Maturity Model Best-in-Class Advanced Sales Associate dashboard Personalized messaging Basic Ecommerce access collaboration Document sharing Mobile-Enhanced Mobile POS Line Busting Inventory look-up Online ordering Endless Aisle Customer Blackbook Omnichannel Checkout Omnichannel Catalog Pick-up in-store Ship from store Corporate collaboration Enhanced product info Automated follow-ups Guided task management Targeted content Intelligent offers Look building In-store sales analytics Advanced collaboration Ad hoc Mobile device focused Customer-centric Omnichannel Basic Clienteling Relationship-centric Personalized Experience Automated

22 The Tulip Retail Platform Tulip Retail Platform Commerce Engine Mobile App Framework Development Tools Database Tulip Mobile App Retail Integration Hub Existing IT Systems

23 Tulip Retail Product Suites Assisted Selling Clienteling Checkout Store Communications Provide customers real-time product information, pricing, promotions, customer reviews, ratings, and inventory from across the endless aisle. Maintain book of business using Black Book management to send and SMS to customers. Manage customer preferences, follow-ups, and tasks via an associate dashboard. With support for multiple cart sessions, store associates can move between customer carts quickly with the added convenience of shipping onhand and online inventory anywhere the customer needs. Enable store associates to create private collaboration groups for knowledge sharing and training. Use an integrated document and image management system to streamline processes for merchandising, training, and collaboration.

24 Associate Dashboard

25 No missed sales with an Endless Aisle

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32 ROI Model & Business Case Maximize Revenue Minimize Costs Generate demand in the store and online (with personalized s, Text Messages, Calls) Create loyal customers Cross-sell, up-sell Optimize accessories Encourage impulsive buying Reduce employee training costs Reduce employee churn Fewer returns Lower Cost of Software Lower Cost of Hardware Smaller store footprints Market Share # Visits * Conversion Rate * Average Order Value Store Operations + Development + Capital Share of Wallet Reduce lost sales with an endless aisle and line busting Improve merchandising and promotions Improve sales associate effectiveness Lower solution costs via SaaS model Minimize risk Improve time-to-market Minimize cost of IT personnel

33 Store associates are becoming the biggest investment for retailers. Don t fall behind.

34 Thank you! FitForCommerce Tulip Retail tulip.io 34