This post is part of a series on the 7th Customer Lovefest held at the Tower Club Makati last November 15-16, 2018.
Randy Esteban, Global Delivery Manager of international agency AFDigital presented the Shoppers’ Journey and how it is redefined in the Fourth Industrial Revolution.
According to the World Economic Forum, the Fourth Industrial Revolution is referred to as a fusion of technologies that is blurring the lines between the physical, digital and biological spheres. Fourth Industrial Revolution is about the Intelligence.
In the Fourth Industrial Revolution, technology is converging from Mainframe or Terminal, Client to Sever and Cloud to Artificial Intelligence, Digital Voice Assistance and Virtual Reality.
Curious, Demanding and Impatient
Esteban pointed out that customers are curious, demanding and impatient. Statistics show that 85 percent increase in mobile searches are “where to buy” a specific product.
The number of customers searching for same-day shipping features have increased four times, today-and-tonight flight searches have increased by 150%, and “Open Now” searches have increased three times.
Companies have fully stepped up to this challenge where customers being curious, demanding and impatient. The best example is Amazon, which has improved their services in terms of unified experience, intelligence, speed, journeys and mobility.
Shoppers go digital
According to the Global Consumer Survey in 2017, Shoppers search mostly by digital. Results show that 61 percent of shoppers use digital means, 34 percent used physical and only 5 percent used print.
Data shows that 8 percent of searches came from social media searches, 14 percent on the retailer/brand’s app or website, 21 percent from search engines and 17 percent from online marketplaces.
The Road to Shoppers-first retailing
Shopper-first retailing starts with the Evolving Storefront wherein in-store drives half of e-commerce sold and vice-versa. The next stage is Fully-Digitized Operation, where shops provide omni-channel sales and service to customers.
This is followed by the use of Artificial Intelligence (AI) to provide product suggestions to the customers. Lastly, there’s Organization-Wide Simplification, simplifying processes and products to boost productivity and sales.
Due to these technological advancements, retailers are behind in the race. Statistics shows that 86 percent of retailers want unified commerce and customer platforms, and 4 percent of shoppers believe that retailers know who they are.
The right strategy
For the retailers to cope up in this digital era, they must have the right strategy. Esteban cited JCPenney’s strategy, which is to understand their customer. Next is giving the customers what they want, help them find what they want quickly, serve their needs both in-store and online platform and last is to deliver profitable results.
CX starts with the customers
Esteban presented that Customer Experience (CX) Transformation always start with the customers.
Customer-centered processes start with organizational alignment, to data-led product decisions, back to organizational alignment, to agile dev-ops based approach, and finally to experienced-based KPIs.
Hand-in-hand with this is the store-centered sales which start with siloed departments, to top-down product decisions, back to siloed departments to traditional waterfall IT, and lastly to store-based KPIs.
Esteban says that companies should in invest in the right technology, leverage their existing process from customers to operations to technology down to strategy. Companies must also invest in their people’s Message Queue (MQ).
Companies should always remember that customer journey is a hard part. First, you must know to differentiate Customer Experience. Next is to digitize and simplify processes and customer interactions. Last is to turn data into sights and actions.
Esteban ended his presentation by providing recommendations based on AFDigital’s research. According to research, companies and retailers should be customer-obsessed, engage proactively in Twitter and increase advertising and engagement in Instagram and YouTube.
AFDigital helps their client to build smarter customer journeys through the process of agile transformation, scalable customer experience operations through people, using omni-channel as platform and marketing technology consulting.
More ideas on improving your businesses’ Customer Experience await you at the 8th Customer Lovefest this November 14-15, 2018 at Discovery Primea, Makati City. For more information, call us at (+632) 633-0153 / 643-3887, text us at (+63) 920 920 2532 / (+63) 920 981 4376, email us at email@example.com / firstname.lastname@example.org or visit us on Facebook.
Written by Michelle Camacho