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Driving Profits and Growth with Customer Engagement and Behavior

How can you gain a better understanding of your customers to boost customer engagement and behavior? Obtaining critical customer information is one key aspect that will garner better business decisions and enhance customer satisfaction. To help retailers improve their understanding of this business strategy, we recently participated in an RIS News webinar1 with Nikki Baird principal of RSR Research, and Nathalie Belanger, vice president of eCommerce for Reitmans, a 900+ store multi-brand, multi-channel apparel retailer.

Here at Epicor, we believe that a 360 degree view of the customer is the only way to view your customer. Almost all retailers today operate in more than one channel, and chances are their customers are routinely engaging their brand in many different ways: in-store, online, and through various devices. So unless you are using customer relationship management (CRM) tools to track and engage customers in all channels, retailers are really only getting a partial picture – which is to say an inaccurate picture of who they are, how they shop, and what will motivate them to shop more. Omni-channel shoppers require omni-channel CRM engagement.

This graphic portrays different points of engagement with customers and where to gather information (blue), in addition to shopping behaviors and customer traits (green). Utilizing the graphic one can see the potential range of metrics that can be acquired for analysis, as well as the high degree of sophistication that can now be applied to segmentation. This can be used to accurately define what different types of shoppers want, and why they contribute to your bottom line.

This advanced approach to CRM can deliver tremendous benefits and a competitive advantage for your business. What can you achieve with this approach?

  1. Improved customer segmentation – when analyzing data across brands and channels
  2. More relevant communication with your customer – when you know your customers you know how, and what to say to them, and when to approach them
  3. Better engagement with your brand
  4. Loyalty across channels – something customers have come to expect today
  5. Improved campaign ROI – which campaigns do customers respond to and in which channels
  6. Better customer service
  7. Enhanced experience for the customer – leads to the customer coming back

This CRM approach is a game-changing tool that retailers can’t afford to ignore. These are very exciting times for CRM!  As Nikki Baird stated during the webinar “Omni-channel changes everything and requires one view of the customer. If you’re trying to move to one view of the customer, the easiest way to do that is with CRM.”

To the view the full Achieving a 360 Degree View of the Customer webinar, click here.

1Retail Imperative: Achieving a 360 Degree View of the Customer [http://risnews.edgl.com/web-event/Retail-Imperative--Achieving-a-360-Degree-View-of-the-Customer-92465?referaltype=Epicor]

Posted by Sarah Barron, CRM Product Manager, Epicor Retail

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