By 2020, 85% of retail customer interactions will be managed by artificial intelligence, according to Gartner. Here’s a quick look at some of the ways AI and cognitive technologies are currently being used in retail.
We’ve already seen the dramatic impact machine learning has on delivering better customer experiences, so it’s no surprise to hear that the companies IDC surveyed generally agreed that the rise of AI is a positive if ultimately disruptive development.
We know physical retail needs to embrace technology to create the kind of experiences customers have come to expect, but there’s still a bit of a disconnect between what customers want and what retailers are doing.
With 63% of people saying they’ve noticed digital signs in store, the tech is obviously getting the necessary attention. The results from using digital signage to connect with customers are likewise compelling.
A beacon is a small, inconspicuous hardware device that periodically sends out a signal via Bluetooth, basically saying "here I am" to devices that enter its operating range and that are listening for the signal.
Spacetime Marketing is about understanding how customers function in space - their 'wheres', and in time - their 'whens'. Once you have a firm grasp on those factors (because you have the data...) it becomes easier to deliver them just the right message that encourages them to take beneficial action
Rapidly emerging technology is transforming traditional CRM, which until now has been largely based on calendar-driven moments in time. Innovative cloud-based platforms like Plexure specialize in next generation CRM, empowering marketers to use the latest IoT technology to create unique customer experiences based on real-time events in physical spaces.
Using a combination of customers’ smartphones, in-store beacons, WiFi and connected services you can both build up individualized customer profiles, and tailor rewards that are relevant to each customer in the moment.
The decision to invest in a CRM platform should be based less on ‘where can we put this customer information’ and more on ‘what will enable us to collect and use information that creates better customer experiences’.
for stores – coffee shops and QSRs and other retail brands that rely on a steady flow of customers – the in-store experience is critical. Reinvent and reimagine by all means, but technology has to make it better, not undermine it, if it’s going to pay off.