[Replay] Retail: How data is reshaping customer experience

Speakers 

  • Nada Abou Saab, Director, Marketing East Region Shopping Malls
  • Tim Carmichael, Head of Analytics Impact - Chalhoub Group
  • Guillaume Thfoin, Group Head of Business Analytics, Majid Al Futtaim Holding LLC
  • Edouard Daou, Co-founder and Head of data practice - Acquisit

View the video

Key Takeaways

What is important data to get and what types of sources of data are key for customer experience improvement

  • Data is important but what type of data do we collect (from demographic to transactional) but what's even more important is the behavioral aspect of data: to design the best customer experience (=seamless personal and unique customer experience) > a 360 degree view of customer;
  • Through our omni-channel engagement (offline and online);
    • to try to stitch this data to have some predictive insights because these insights are what helps our strategies moving forward today;
    • we're building malls that are going to open in three years from now so how do we make sure these malls are future proof;
  • The customer 360: who are they, demographic and ethnographic, what do they want, what are their aspirations and their intentions, how do they behave as evidenced by their transactions; where are they in the customer life cycle;
  • Where are they the in the customer life cycle = how we engage with those customers, how we help our marketing colleagues who want to be able to engage closely and in a very precise way with those customers;
  • A lot of structured data about transactions, about point of sale, e-com, customer satisfaction scores, feedback from customer surveys; and progressively unstructured data such as social media data and data from influences (the people who influence them);

How do you ensure that this data that's collected is transformed into actionable insights?

  • To instill a data-driven culture across the group to improve decision making that means we had to operate a triple shift:
    • data set: getting all the data in the right place at the right time,
    • mindset: getting people from the businesses to start using/thinking data,
    • skill set: being able to use that data into their operations,
  • To change the way people operate,
  • To prepare campaigns, push the campaigns and analyze it,
  • To make sure the business can trust those assets,
  • To delight our customers: that's the most important change and how we're supporting that is by ramping up our training and our learning so that people feel less threatened by data and more confident to engage with it

What are the processes today that exist within organizations to aggregate this offline and online data to address the customer becoming more and more an Omni-channel customer?

  • We built some simple technology to tag all our assets all our apps with the same tagging linked to the loyalty customer ID;
  • We partnered with other companies to have the spend of customers outside of math outside of our malls;
  • To understand not only how i do in my world but what i do outside of my world, my market share, my real markets, are the real velocity of that data;
  • High velocity, high frequency trading of customer data put together online offline and outside of my ecosystem and based on that you need to plug your machine learning, merge up data and act on that data
  • Omni channel customers tend to spend more than single channel customers and therefore being able to identify customers wherever we find them;
  • The real challenge: to fully understand what the relative performance and to be able to predict the relative performance of all of those potential channels so that we can reinforce success and we're much more likely to achieve our objectives of delighting our customers
  • Our omni-channel customers typically spend two to three times more than just single channel customers;
  • To find synergies in the data or collaboration that exists between different brands different players in the in the chain and what are the challenges today to unlock this potential added value;
  • In a shopping mall, the customer experience is a combination of thousands of experiences, so synergies are extremely important if we really want to design the perfect customer experience and this is where partnerships come on board between shopping mall operators and retailers;
  • The first to launch the tenant analytics platform where we actually share insights with our partners because unless we work together we will never be able to achieve our objectives (delighting our customers) > where these synergies come on board
  • A loyalty program: to gain of an intimate picture of what your customers want and what they aspire to; potential cross-sharing between different brands, to understand the mobility and the flow of customers between brands;
  • The daily challenge: to understand what is the best way to share at an appropriate level without abusing the trust of our customers;

The speed of data:

  • We need to train the business to think of this new agility, train the tech team and have the right system to have that data rightly set up so that means your IT system needs to be set up properly rightly integrated and this creates the velocity and the more the faster you answer questions the faster people now are going to ask questions;
  • So it has to come from the top to cascade that value chain and then technology enables that;
  • After sales procedures :
    • some insights that helps us proactively design experiences for these customers to to delight them in their next visit;
    •  how we can improve the future visits of our customers and also collaborate with our retailers to do the same ;
    • the trick to satisfied customers is that we keep our promises and part of the after-sale activity particularly in e-commerce of course is getting the goods to the customers;
    • to repurpose our supply chain;  particularly over that last mile distribution;
    • to keep our promises to our customers

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