This blog is the third of a series on how retailers are addressing the challenges of becoming an omnichannel business. We’ve talked about how omnichannel selling is not really about rushing to invest in some whiz-bang technology – in fact, I think stores often try to do too much at one time.
Instead, a smart approach to your implementation is to find the low-hanging fruit – projects that have the highest probability of effectiveness and can be measured against business targets as a whole. Remember that every store has its niche, and one size does not fit all. By achieving rapid successes up front, you gain funding for the next piece of your strategy, building from success to success to achieve omnichannel entry.
For example, some retailers look at how to make it easier for shoppers to buy and return where they want. Stores don’t carry the same selections from region to region, and they need processes and systems to make such an approach successful. The key is inventory management: figuring out how to sell, reorder, and exchange products in stores that also serve as fulfillment centers.
Other retailers focus on building a strong relationship with shoppers through excellent customer service. For example, instead of picking up the red bat phone or having “Customer assistance on Aisle 3” called over the loudspeaker, consumers can contact remote experts on their own mobile device or through a kiosk. Still other stores may put resources into user interfaces, branding, and site useability. These personalized approaches also pay off in better information about the customer, allowing retailers to use video analytics and sensors to get help to the shopper faster.
To help stores define their best path forward, they often make use of “innovation platforms,” systems designed to allow you to quickly set up and try out new merchandising, practices, or seasonal locations. Innovation platforms let you experiment with capabilities that leverage organizational strengths, hitting on the cylinders you want to address. Each success helps build the business justification for the next stage, supported by your cost/benefit analyses, baselines, and measurements.
Let’s talk more about this at the NRF Big Idea Sessions, where I’ll be speaking on Tuesday, Jan. 14, 2:00-3:00 ET, in Room 4. My topic is “Detect, Connect, Engage: Enhance your Customer Experience with Mobility,” and I’ll discuss how to personalize the mobility journey and new strategies for delivering a meaningful customer experience. Visit Cisco’s NRF website to learn more about these very popular seminars. As well, please take time to attend some of the demos in Cisco booth #1954. These include several technologies that fulfill the requirements discussed above.
I’ll see you at NRF!
Tags: Big Idea Sessions, Cisco, customer experience, innovation platforms, mobility, NRF, omnichannel, retail, Rose Depoe, seminar, shopper
What’s the problem with Big Data? You guessed right — it’s BIG.
Big Data empowers organizations to discern patterns that were once invisible, leading to breakthrough ideas and transformed business performance. But there is simply so much of it, and from such myriad sources — customers, competitors, mobile, social, web, transactional, operational, internal, external, structured, and unstructured — that, for many organizations, Big Data is overwhelming. The torrents of data will only increase as the Internet of Everything spreads its ever-expanding wave of connectivity, from 10 billion connected things today to 50 billion in 2020.
So, how can organizations learn to use all of that data?
The key lies not in simply having access to enormous data streams. Information must be filtered for crucial, actionable insights, and presented to the right people in a visualized, comprehensible form. Only then will Big Data transform business strategies and decisions. In effect, Big Data must be made small.
However, as McKinsey & Co. reported, many organizations don’t have enough data scientists, much less ones who understand the business well enough to draw conclusions. The trick is to get the scientists together with the experts who understand the business levers driving the organization. Put them in a room with the right tools, and watch the synergy fly.
But what sort of a room?
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Tags: Big Data, Cisco, Cisco Consulting Services, data scientists, innovation, Internet of Everything, internet of things, IoE, IoE Value Index, IoT, retail, value at stake
The most wonderful time of year is upon us. With the holidays just around the corner, many will be crossing off wish lists by shopping via their laptop, tablet or smartphone. Last year I was one of those that waited until the last minute to shop for the holidays and by the time I arrived at the mall, there was virtually nothing left to buy for my nieces! I had to fight for a parking spot and was exhausted after the first half hour!
A recent prediction from e-Marketer states that online and mobile spending will increase about 15.1% year over year this November and December, showing just how quickly the Internet of Everything is enabling more e-commerce spending than ever before.
With this increase in anytime, anywhere online shopping, how are delivery companies meeting this influx in demand? How are they ensuring on-time deliveries? How are they lowering operating costs and expanding reach? Over the next few months – and coincidentally during the busiest shopping time of the year -- I’ll be discussing how advances in cloud and mobility are propelling the Internet of Everything and transforming the shipping industry. And this change is starting with the customer.
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Tags: Cisco, cloud, Internet of Everything, internet of things, IoE, IoT, mobility, retail
We’re in November now, so of course it’s getting chilly outside -- even here in California! This means the holidays are right around the corner and retailers are gearing up for their busiest time of year. A growing trend these days is that more than half of holiday shoppers with smartphones plan to use these devices while shopping (53.8%, National Retail Federation). What better motivation for retailers to increase sales in all of their stores this season than by enhancing customers’ shopping experience with something like Facebook?
On the other side of town unfortunately, the holiday season goes hand-in-hand with the sniffling and coughing brought on by the winter cold and flu season. As usual, doctors will expect an influx of patients in their offices in the coming months. IT staff at hospitals need to prepare for the increased medical data traversing through the network and beyond.
Cisco UCS E-series on the ISR-AX is a consolidated solution in a single platform. With this solution, retailers can virtualize and host POS, video surveillance, and other applications. Doctors in medical offices of any size can focus on taking care of their patients rather than worry about the network slowing them down.
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Tags: facebook, healthcare, insidebranch, ISR, ISR-AX, mobile, point of sale, retail, UCS, UCS-E Series, virtualization
My last blog talked about the challenges of becoming an omnichannel retailer, and how stores are still learning how to make changes that cut across their entire business. We discussed how, appearances to the contrary, omnichannel selling is still about meeting a basic business requirement – finding the best outcome for you and your customer. However, finding these outcomes is a more complex proposition than it used to be.
Logically, to achieve consistent outcomes you need to achieve consistent consumer outreach, input, and sales approaches. But stores are also facing the demand to create a more personalized sales experience. How do you meet these seemingly contrary requirements? The key here is to find new ways to reach out to shoppers as part of the whole shopping experience, no matter what the channel.
For example, Cisco’s Remote Expert solution is a way to offer unique, personalized, yet centralized retail experiences for customers. It connects each shopper with a product expert wherever they are located, in real time, via mobile, immersive, or on-site channels. You save by leveraging your experts across single or multiple locations and devices using a pool of experts who may or may not be co-located, instead of providing expertise at every site or asking them to travel extensively. Retailers can also use the same solution to host training and corporate meetings, or to enable store feedback on products and merchandising. The result is a personalized shopping experience at a lower cost for the store.
Pretty sweet, don’t you think? To learn more, take the time to attend the webcast “Just Ask the Expert: Connect Your Shoppers to Virtual Experts, Anywhere, Any Time,” being held on Nov. 7. You can register here.
Truly omnichannel technologies are designed to support cost savings and efficiency, providing a more seamless interface for service that is customized for the shopper. As I said in my last blog, these approaches focus first and foremost on customer needs, making it easier to do business with your company. A customer-centric strategy cuts across the business and all its channels, creating a different kind of relationship between you and your shoppers. See what Retail Systems Research has to say in their latest report about omnichannel strategies.
I love retail trivia! Comment below if you know the answer to this question: What is the second-most visited retail business in America? (Wal-Mart is first.)
Tags: Cisco, customer, multi-channel, omnichannel, remote expert, retail, Rose Depoe, sales, selling, shopper