CMO Guide reveals that marketing monologue misses the mark, and provides specific recommendations for customer dialogues that move the needle
The CMO Club, a membership organization exclusively for engaged Senior Marketing Executives for peer based learning and professional and personal growth, Revionics, the global provider of proven End-to-End Merchandise Optimization solutions that enable retailers to make fact-based merchandise planning decisions, and 5one, a retail global consultancy that specializes in enabling retail transformation from product-centric to customer-centric, recently released the CMO Guide to Omnichannel Personalization. Through a rich collection of peer insights and examples from top retailers including GameStop, Godiva, The Home Depot, Jamba Juice, JCrew, Michaels, OfficeMax, Petco, Quiznos, Roundy's Supermarkets, Saks Fifth Avenue and Sears/Kmart, the guide provides actionable insights and critical enablers into how this select group of CMOs are responding to today’s informed and connected shopper that shops at-home, in-store and on-the-go and is demanding a seamless and more personal experience.
"Nothing is more powerful for CMOs than to learn from their peers. This report reflects insights from some of the top CMOs in the world along with the expertise of 5one and Revionics, making it a must read for any CMO in or selling through the retail industry,” said Pete Krainik, Founder and CEO, The CMO Club.
Today’s shoppers are fierce and in control of the path to purchase. Winning their mindshare and business requires enhanced engagement that shifts the interaction with shoppers from a one-way monologue to a two-way dialogue in any channel. Successful retailers are achieving this through strategies that incorporate segmentation, digital, mobile and social technologies that engage shoppers where they are with compelling, personalized content – offers, value, rewards – with the ability to participate and advocate. According to brickmeetsclick, 64% of retailers interviewed in a survey agreed that shoppers are more willing to share personal data today, but the exchange will be personal data for personalized offers*. Additionally, studies show that 74% of shoppers rely on social networks to help guide their purchase and that they spend 11% more per transaction after interacting with other consumers online*.
“Omnichannel personalization is about customers, not channels or products,” said Karen Dutch, Senior Vice President of Marketing at Revionics. “Leveraging science and predictive analytics to more granularly understand shopper behavior drives more compelling offers. Through the use of cutting edge social platforms retailers can build deeper and more profitable 2-way dialogs with shoppers.”
“There are several keys to success in the Omnichannel Personalization world, but the singular most important first step is clearly defining your customer engagement strategy that will lead to a seamless, consistent, positive customer experience,” said Nadine Dietz, Senior Vice President of Global Marketing and Business Development at 5one.
The CMO Guide Highlights
This CMO Guide to Omnichannel Personalization includes best practices and demonstrates how retailers are creating a more comprehensive 360 degree view of the shopper, tackling big data unknowns, partnering more with IT, developing the engagement strategy, leveraging analytics, deploying sophisticated optimization engines, communicating seamlessly through every channel and continuously reapplying learning’s. The topics include:
Click here (http://pages.revionics.com/cmoclub.html) to download a copy of this must read CMO Guide.
About The CMO Club
The CMO Club -- for Senior Marketing Executives only -- is a 700+ membership organization designed to connect members for peer based learning, and inspire professional and personal growth. The unique purpose of The CMO Club is to bring Heads of Marketing together in an environment of openness and collaboration that enables them to excel at what they do and solve their biggest CMO challenges. Tailored exclusively for the benefit of senior marketing executives, The CMO Club hosts dinners and events, shares reports and research from marketing industry leaders, and leverages the first online engaged CMO community network. For more information, visit www.thecmoclub.com
About Revionics, Inc.
Revionics delivers the industry’s most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the Omni-channel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 33,000 retail locations and $140+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a 2012 Deloitte Technology Fast 500, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, visit www.revionics.com.
5one is a global consultancy providing services, analysis & software to help retailers transform their business from product-centric to customer-centric. From initial roadmap design through execution, 5one enables swift implementation by customizing proven techniques to accelerate internal cross-functional alignment and external vendor partner collaboration. In addition, 5one has successfully translated methodology across verticals to help retailers reap the benefits of its broader experience. Whether it’s defining an approach to loyalty, segmenting customers, optimizing the trading environment for customers, improving store operations, establishing an omnichannel engagement plan or delivering the customer experience, 5one supports all or part of the customer-centric journey. 5one is based in London, with worldwide operations in Paris, New York, and Cape Town. 5one is also proud to be part of the LaSer Group of companies and is the centre of excellence for loyalty and CRM for LaSer. For more information, visit www.5one.com.
SOURCE: The CMO Club