Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions.
Today e-commerce businesses are working in a global market context. Hence the need for robust algorithms to provide the best user experience and the best return on investment. Even so with this powerful technology e-commerce Business Managers face a difficult challenge to keep and gain new customers globally. Besides, to program and manage the different tasks for the most important dates of the year, for instance Black Friday, Cyber Monday, Sold periods, twelve months in advance.
Your e-commerce site is only as successful as it is secure with strategic planning in advance, to make the deployment safe and functional and not to rush up during important dates of the year. Thus, it is becoming mandatory to program and clarify it in advance to not to put in significant risk revenue and customer satisfaction.
Then the question is, what methodology works, in parallel with predictive marketing tools?
Igor Bondarenko - Magento2 Performance Bottlenecks: How to avoid it
Similar to Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions.
Similar to Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions. (20)
The workplace ecosystem of the future 24.4.2024 Fabritius_share ii.pdf
Alejandro Cordero - Secure Electronic Commerce New Business and Repeat Business: Building the Infrastructure for Digital tasks 12 months in advance using predictive marketing solutions.
2. CONFERENCE PLAN
I. The benefits of using predictive
E-marketing tools
II. Building your predictive
infrastructure
III. Why Planning is a Must
IV. Securing your new business &
repeat business
V. Predictive model use case
22-3 March 2017
4. THE MAIN QUESTIONS ARE …
✓ Have you ever dreamed about learning what products
your customers would be the most likely to buy in
advance?
✓ How great would it be if you could maximize your profits
by determining the highest price a customer will pay for
a product?
✓ What if you could optimize customer relationship to
cross-sell and up-sell proactively ?
✓ Do you think this sort of advanced insight would allow
you to make even more money from your e-commerce
efforts?
42-3 March 2017
5. PREDICTIVE ANALYTICS MAKE A REALITY THE IMPROVE OF
YOUR CORE BUSINESS.
✓ Improve Customer
Engagement & Increase
Revenue
✓ Launch Promotions That Are
Better Targeted For Your
Customers
✓ How shoppers will behave in
the future
✓ Save companies money by
honing marketing efforts
✓ Customer lifecycle analytics
✓ Helps smaller e-commerce
merchants stay competitive.
52-3 March 2017
6. PREDICTIVE ANALYTICS MAKES A REALITY THE IMPROVE YOUR
CORE BUSINESS.
✓ Putting all the sources together
allows marketers to gather
valuable insights.
✓ Minimizes wasted marketing
dollars.
✓ Predictive analytics give
marketers a more detailed
view of where their customers
are and how to focus
marketing spend.
✓ The biggest business problem
that predictive analytics tools
could help solve this…
➢ Eliminating the unknown.
➢ Why are customers
leaving?
2-3 March 2017 6
7. PREDICTIVE ANALYTICS TAKES :
✓ A different approach by building a model to support real-time pricing that
uses input from various sources like:
➢ Historical Product Pricing
➢ Customer Activity
➢ Preferences & Order History
➢ Competitor pricing
➢ Desired Margins On The Product
➢ Available Inventory
✓ Pricing Management is an ongoing process and needs to be monitored
closely to avoid automated price changes causing issues in the retailer’s
environment
2-3 March 2017 7
9. TODAY WE ARE IN A POSITION TO …
✓ Identify and reach out to our
customers
✓ Understand the 'shopping
mission'.
✓ Defining what the customer :
➢ is likely to buy
➢ how this can be fast
✓ Setting the right shopping context
✓ Use of machine learning &
predictive analytics
✓ Understanding consumer
behavioral patterns
2-3 March 2017 9
10. INFRASTRUCTURE TO WIN NEW CUSTOMERS, KEEP
YOUR IMAGE AND MAINTAIN YOUR CUSTOMERS
Must Important Dates of the year
Define an optimization plus the historical data to support the program schedule
Define the rules and products that will dynamically be previewed in each page listing
Adapt your shelves supported with behavioral product recommendations
Respect the season, new products, and top rated products
Plan your stock
10
1
2
3
4
5
2-3 March 2017
6
12. IT IS IMPORTANT THAT YOU REALIZE
PREDICTIVE ANALYTICS TOOLS ARE NOT JUST A
PLUG & PLAY SOLUTION
2-3 March 2017 12
13. THE STRATEGY …
✓ To take the right data in the right way to get the best return on
investment.
✓ How to take the right data in the right way and apply it.
✓ It’s the 80/20 Rule.
2-3 March 2017 13
14. THEN WHY IS IMPORTANT E-MERCHANDISE PLANNING
✓ Predictive capabilities let business :
➢ take service to the next level
➢ deliver a superior customer experience, pure and simple
✓ It is a "systematic approach" in many ways
➢ the systems to ensure that you have the right people,
➢ the right processes,
➢ the right computerized support,
The software available is merely an enabler,
We put effort into Merchandise Planning "to increase profitability".
2-3 March 2017 14
15. CROSS-CHANNEL MERCHANDISE PLANNING PROCESS
If we assume a turnover of 117,4
€ million
A typical retail clothing business
will lose about 15% of its turnover
in markdown and perhaps 10%
due to lost sales.
Then we are looking at a loss of
29,3 € million here.
Can reducing each of these figures
1 %
Adds to the bottom line
2,35 € Million
2-3 March 2017 16
17. UNDERSTANDING YOUR CUSTOMERS IS THE KEY TO …
✓Stablish an infrastructure linked to your
merchandising planning will save
✓Keep converting your existing customers
should be part of your infrastructure and
planning
✓To nurture a marketing campaigns
✓ Workflow and triggers will allow you to
spend less time
✓Money on lead Generation and
promotional material to your sales
2-3 March 2017 18
Awareness
Engagement
Sales
18. SALES FUNNEL
19
Typical content includes
newsletters, customer
reviews, press releases,
social ads
Lots of content or
personalized products, both in
quality and variety.
2-3 March 2017
19. SALES
Keep in touch with more
customers for a longer amount of
time increasing the chances of a
conversion
Maintaining your customer’s
lifecycle for an extended period is
what makes personalization
important.
2-3 March 2017 20
20. MANY COMPANIES SAY THAT THEY WANT TO OPTIMIZE
INVENTORY
Common
Obstacles to
Inventory
Management
Reducing
Forecast
Error
Over-
Stocking and
Under-
Stocking
Common
Obstacles to
Inventory
Management
21
1
2
3
4
2-3 March 2017
21. SECURING YOUR NEW BUSINESS & REPEAT BUSINESS
✓ On the flip-side, under-stocking is just as bad.
On that end, while you free up capital, you run the risk of losing
sales due to not having anything to sell. This can also hurt your
reputation
✓ To organize your e-merchandising “shelf units” and linked all your
e-business action step by step to maximize your business, reduce
stock cost, target your e-marketing spends on products which
represent 80% of your Turnover.
2-3 March 2017 22
24. PLANNING TOOLS ALSO ENABLE TO MEET THEIR NEEDS
✓ Planning to promote products
➢ B to C
➢ B to B
➢ Shelf units
✓ Planning of highlights of the year
2-3 March 2017 25