In the ever-evolving landscape of business, customer experience has emerged as a cornerstone of success. Today, brands must construct comprehensive engagement channels that put both the brand and the consumer at the centre of their discussion. This shift towards a customer-centric approach not only cultivates brand loyalty but also forges a mutually beneficial, long-term relationship, fostering growth. Traditional business models were product-centric, focusing on production and sales. However, the contemporary marketplace, brimming with choices, demands more. Consumers seek personalised, meaningful interactions, prompting a shift toward a consumer-centric paradigm.
The journey mapping process
Crafting a holistic engagement channel begins with journey mapping – a process that involves understanding every touchpoint a customer encounters while interacting with a brand. This journey encompasses online and offline experiences, from social media interactions and website visits to in-store experiences and post-purchase follow-ups. By dissecting this journey, brands can identify pain points, moments of delight and areas for improvement, enabling them to create a seamless and enjoyable experience.
Personalisation: The key to lasting impressions
One-size-fits-all approaches are rapidly becoming obsolete. Today’s consumers crave personalisation – the feeling that a brand understands their unique preferences and values. This can be achieved through data-driven insights that allow brands to tailor recommendations, offers and interactions based on individual behaviour and demographics. By harnessing technology and analytics, brands can anticipate needs and desires, thereby creating a genuine sense of connection.
Omnichannel synergy
A holistic engagement channel transcends individual touchpoints and embraces omnichannel synergy. This approach ensures that irrespective of whether a customer interacts through a brand’s website, app, social media or physical store, the experience remains consistent and complementary for him/her. A customer should be able to seamlessly switch between channels without feeling any disconnect. This not only fosters convenience but also reinforces the brand’s identity and message.
Empowering the frontlines
The individuals directly interacting with customers play a pivotal role in shaping their experience. Empowering frontline employees with the right tools, training and autonomy can lead to transformative interactions. These employees should embody the brand’s values and be equipped to resolve issues and aid in a personalised manner. A positive interaction with a knowledgeable and empathetic representative can leave a lasting impact.
Feedback loop and continuous improvement
Creating a holistic engagement channel is an ongoing journey, not a destination. Brands should actively seek feedback from customers to identify areas for improvement. This feedback loop can encompass surveys, reviews and direct interactions. By listening to their audience, brands can adapt and refine their strategies, ensuring that the customer experience remains aligned with evolving expectations.
Measuring success beyond transactions
In the customer-centric paradigm, success is measured beyond transactions. Metrics like Net Promoter Score (NPS), Customer Satisfaction (CSAT) and Customer Lifetime Value (CLV) provide insights into the long-term impact of engagement strategies. A loyal customer who becomes a brand advocate can influence others and contribute to organic growth.
In conclusion, the redefinition of customer experience through holistic engagement channels is no longer an option; it’s a necessity. Brands that prioritise personalised interactions, omnichannel consistency, empowered employees and continuous improvement will stand out in the crowded marketplace. By forging a connection that transcends transactions, these brands can foster loyalty, advocacy and enduring success. As the business landscape continues to evolve, embracing the customer-centric approach is the key to remaining relevant and thriving in a dynamic world.
Leveraging customer experience for transformative impact in retail supply chain, sourcing and finance
Customer experience holds the potential to revolutionise various sub-departments within the retail industry, particularly in Supply Chain, Sourcing and Finance. Its core principles of holistic engagement and customer-centricity can be strategically applied to enhance operational efficiency, cost-effectiveness and customer satisfaction.
In the realm of Supply Chain, focus on customer experience approach can streamline the entire process, from procurement to distribution. By embracing real-time data analytics and predictive algorithms, retail companies can gain deeper insights into demand patterns and consumer behaviour. This empowers them to optimise inventory management, reduce wastage and enhance the accuracy of demand forecasting. Additionally, the customer-centric ethos could enable companies to align their supply chain strategies with consumer preferences, thereby ensuring products are available when and where customers desire.
In Sourcing also, customer experience-centric approach can foster a new era of supplier relationships. By promoting transparency and collaboration, retail brands can cultivate partnerships based on shared values and mutual growth. The customer-centric mindset extends to understanding that suppliers are integral stakeholders in delivering value to consumers. This approach can lead to ethically sourced materials, improved product quality and reduced supply chain risks.
The financial aspect of retail, too, can benefit immensely. The emphasis on personalised experiences and lasting relationships aligns with Finance’s goal of optimising customer payment experiences. This involves implementing user-friendly payment systems, offering flexible financing options and leveraging data-driven insights for personalised offers.
Incorporating focus on customer-centric principles to be implemented in retail industry’s Supply Chain, Sourcing and Finance sub-departments not only aligns with contemporary customer expectations but also promotes efficiency, sustainability and growth. The ability to adapt to changing customer preferences and behaviour, optimise resource allocation and build strategic alliances can propel retail businesses toward long-term success in an ever-evolving market. The customer-centric philosophy serves as a compass guiding these departments to navigate the complexities of the modern retail landscape with innovation and purpose.
Tech stack information of Globus Fashion
Technology has been at the core of all the vital processes in the company. In Globus Fashion’s tech set-up, Globus leverages SAP S/4HANA 1709 as the core ERP system for real-time analytics and streamlined processes. This is connected to an advanced Order Management System (OMS) called FYND via APIs, which improves order processing, inventory management and customer satisfaction. The company has also expanded its reach by connecting to online marketplaces like Amazon, Myntra, Flipkart, Snapdeal and Tata Cliq through FYND OMS. Additionally, Globus is in the process of integrating SAP S/4HANA with ONDC protocols to leverage ONDC capabilities via Bitsilla. To analyse data, Globus uses Power BI, Microsoft’s business analytics service. Power BI collects data from various sources, allowing businesses to create interactive visualisations and make data-driven decisions across all integrated components.
