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Overview

What is the state of retail today?

With the emergence of digital media, customer buying patterns have changed considerably over the past decade. Not only do they make more informed decisions today, but also expect a seamless buying experience across channels.As a result, enterprises are now incorporating Omnichannel retail strategies and striving to offer an enriched experience to their customers, right from marketing to the after sales support. Omnichannel retail transformation is now a key objective for businesses today, and will be for years to come.

 

Business Requirement [Why]

Omnichannel retail assessment and transformation framework from Happiest Minds helps businesses identify and define insightful Omnichannel retail strategies to enhance customer experience.

With specific retail goals expected of each element of the omnichannel model, the omnichannel retail assessment and transformation framework, identifies underlying capabilities that are required to equip them. This in turn translates to specific initiatives and a logical roadmap to realize such capabilities.

The Happiest Minds Approach

Happiest Minds recommends a 4-step approach to arrive at a realistic roadmap that would get businesses a step ahead in their omnichannel retail transformation journey. The starting point is to identify all personas in enterprise who would be Omnichannel evangelists and contribute to the overall omnichannel retail strategy.

Identify key personas in Omnichannel retail enterprise

Define goals, enabling capabilities and KPIs to be measured

Assess current state of capability maturity, Identify gaps and decide on target maturity level

Recommend prioritized set of capabilities and phased roadmap to acquire them

 

We then draw out an ideal state omnichannel retail capability model by persona for business imperatives. This serves as a benchmark and helps identify gaps, in terms of business capability, process effectiveness, people skills and technology needs. The result is an omnichannel retail maturity indicator that provides organizations with a road map to realize a prioritized set of goals and capabilities, and helps businesses embark on their omnichannel retail transformation journey.

Omnichannel Maturity Self-Assessment

Omnichannel is synonymous with B2C and more so with Retail today. Customers demand it and barring few, most Retailers are in awe of it. Do you have the right strategy, team and capabilities to enable an Omnichannel Enterprise and Customer Experience? Where do you stand? If you haven’t already done so, NOW is the time to evaluate where you are in your Omnichannel journey.

Offerings

Store Associate

A store associate is a critical customer touch-point in the omnichannel retail scenario to enhance customer experience management.

A store associate, thus, needs to be equipped with information on products available across different distribution channels. He/she has to be as knowledgeable as the customer to be credible brand advocates. This means that they need the right technology to have access to meaningful insights on the channel customer to offer a personalized experience.


Persona
Omnichannel Goal
L1 Capability
L2 Capability
Technology Enabler
KPI
Store Associate
Unified Customer Experience
Know the Customer
Single View of
Product

Single view of Customer
History, Preferences, Cart, Lists,
Queries, Social Engagement

Access to Extended
Product Catalogue
Mobility
Analytics
Security
Master Data Management
(Products, Customers)
NPS/
Customer
Satisfaction

 

Marketer

According to Gartner, marketing’s role in a digital commerce business is becoming more critical than ever before. Creating unified brand experiences is a key to omnichannel retail transformation,and having deep insights on existing and potential market is no more a luxury.

Omnichannel marketers need the right tools for effective campaign planning and execution that provides flexible distribution channel management and unified content and communication as part of their omnichannel retail transformation strategy. While this is one part of the puzzle, the other part is about analyzing the effectiveness and solving the multi-channel attribution problem, so the right channels get the right credit and spends going forward.


Persona
Omnichannel Goal
L1 Capability
L2 Capability
Technology Enabler
KPI
Brand
/Category Manager
Unified Brand
Experience
Omnichannel
Campaign
Management

Campaign
Analysis and
Attribution

Campaign Planning,
Channel Specific
Communication

Micro Segmentation
/Value based
Customer Segmentation

Single View of
Products and Content

Content and
Creative Management

Campaign Feedback,
Analytics & Attribution Algorithms

Analytics for Campaign
Effectiveness by Channel,
Cross Channel Influences etc

Master Data Management/
Unified Views
(Products, Customers)

Content and Digital Asset Management
BPM and Workflows
% Uplift in
Sales
Conversion

 

Customer Service

Customer service,today, is all about engaging customers on the web, across social channels and on the go. The challenge here is similar to that of an in-store associate where 360-degree view of customers, orders, products and inventory situations becomes necessary to enable omnichannel experiences.

The customer service associate needs real-time and holistic access to a customer’s interactions, transactions, preferences, social profile and influences to turn every customer interaction (be it a query/ complaint) to a positive connect and ensure successful closure of complaints. For sales enablement, having insights on customer preferences and access to an extended product catalogue (and availability),a ready reckoner on substitutes and targeted products that could be recommended to increase basket spend become great tools for personalized selling.


Persona
Omnichannel
Goal

L1 Capability
L2 Capability
Technology Enabler
Customer Service
Associate
Proactive Hassle
Free Resolution
Proactive
Knowledge on
Customers
Pain Points

Social Listening
Single View of Customer,
Current Open Customer
Queries, Recent Open Orders
and Real Time Status

Insights on Social Profile
and Influence of Possible
‘Unhappy’ Customers

Dashboard of Quick Fix
Alternative Products, Self
Help Solutions/ Process
Assistance, Order Status etc.
Analytics for Social
Insights and Personalized
Recommendations

Master Data Management
/Unified Views
(Products, Customers)

CRM Integrated to
Contact Center
/Live Assistance Solution
100%
Query
Resolution

 

Resources

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