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’.
Given that we’d all appreciate a faster, easier, preferably cheaper shopping experience, but would also quite like to not put people out of work, are we OK with Amazon Go’s promise of a completely de-humanized grocery store? After all, retail jobs are among the top 3 most likely to be replaced by technology in the next 20 years according to The Economist. Do we really need to hasten things along? Is this a slippery slope down which we are about to be pushed?
Expanding your CRM with IoT means you can collect information on customers’ interactions with connected tech – not just report back on their purchases. When it comes to the connected store that means events that occur online, on mobile and other devices outside the store and inside the store itself.
At each stage of the customer lifecycle we should be using all of the customer, contextual and transaction data we have to design experiences that will not only bring people back to stores, but increase their value to brands in the long term. Optimization is the difference between sending a generic promotional message to all customers, and creating truly personalized marketing that talks to individual customers.
We're all about helping brands connect with customers, making every interaction the best it can be so everyone benefits: customers get bargains or get cool experiences; brands get more return visits to physical stores, or higher basket value from the people buying there, or better word of mouth and social cred. All that good stuff.