To achieve digital disruption, retailers must adjust their approach to better engage customers – whilst always maintaining a reduction in costs. Rather than resisting change, organisations should embrace the technologies available to help them optimise their customer experience.
Retail businesses must find a platform that works for them. One that enables them to truly understand their customers and interact with them effectively. If you can ensure that each message you take to market is relevant and adds value, and that the overall customer journey that you provide is streamlined, then you can start to build long-lasting relationships with customers.
But gone are the days of simply inspiring customer loyalty. Now retailers must build on those relations further and turn loyal customers into brand advocates.
How do retailers achieve this in the current market in which customers have all the power?
Consumers have full control of the market. They can research and compare products within seconds. They can demand when and how that product will be delivered, or collected, or picked up. The digital age has seen the end to the 9-5 hours for retailers. Shops are now 24/7 and serve customers all year around. And if they do not? Well, potential customers will look elsewhere.
Consumers now choose products and services based on convenience, research or recommendations. Switching between brands is now the norm, so it is vital that retailers are able to connect with consumers in a meaningful way. Technology can help you do this.
The right technology – such as Microsoft Dynamics 365 CRM for Retail – enables you to centralise customer data and build a unified customer profile. Debunking data silos and gaining a 360* consumer view, empowers retailers to create an excellent omni-channel experience that is tailored to meet customer needs.
Consumers can shop however and whenever they like, and have the same streamlined experience across any channel or device. Retailers, armed with real-time information provided by their CRM, can continually optimise that experience. And, satisfied customers result in increased and recurring revenue.
To achieve this, you need a strategic digital roadmap and the right tools and technologies in place. Digital disruption will only continue to be more and more disruptive. But it will also create greater opportunities for retailers who are willing and able to embrace it.
The report Digital Disruption in Retail looks at how Agile strategy, combined with the latest technology, can be used to improve customer experiences in the digital age.
Download the report here.