Our latest CPM Expert Speak comes from Mandeep Singh, CEO of CPM India. Mandeep has s been running the CPM India Field Marketing & Contact Centre business for almost 10 years and has over 20 years previous expertise in publishing.
In his thought piece, Mandeep analyses the ´Connected Consumer´ and how this presents a new frontier for retailers in India in our latest CPM Expert Speak.
Connected Consumer a new Frontier for Retailers in India
In today’s time of higher Internet penetration, Smartphone purchases an Indian customer is moving towards the new era of continuous connectivity in various facets of their consumer journey. This poses a new challenge for the Retailers to engage with such customers and make their offerings more relevant to the consumer.
Today’s Connected Consumer is increasingly mobile savvy and is open to trying out new experiences and has no hesitancy in expressing themselves across the connected space on their experiences.
The Connected Consumer view of the Retailers and how Retailers should interact with them has evolved. The situation gets even more troublesome when the Retailers believe they are offering products and services while the consumer is buying an experience. This is a major reason when after ensuring a high level of customer service some of the retailers fail to retain high level of customer satisfaction. Retailers need to take note of these changes and prepare their retail environment appropriately to win over these connected consumers.
We at CPM India have had an opportunity to work with some of the brands that have been successful to understand this and convert it into a big win for them. Before we discuss what some of these retailers can do let us look at what the Connected Consumer looks like. The key traits of a Connected Consumer are:
If we look at the above traits, it will be easier for us to predict the behavior of this connected consumer. Someone who is willing to try out new retail environments expects better value, better experience and is prompt in sharing and seeking views and feedback of peers and friends. They are also high on convenience and will like the retailer to translate that benefit in various offerings by the retailer.
Our experience has highlighted 5 areas which if addressed can help the retailer to connect with this breed:-
Communication – Regular communication to highlight the value proposition. It helps further if it the communication is uniform across all platforms. High on design and personalized messaging works wonders and encourages the consumer to share the same in his group.
Experience – Retailers need to provide a great end-to-end experience, which is seamless across channels. This is the most critical as this is the first trigger for the connected consumer to react favorably or adversely. Growing use of technology in accomplishing these experiences is a great way to connect with these consumers.
Consumption data and Consumption habits – Important to understand the customer choice and history to customize some offerings especially for the connected consumer. Convert the customer to Me-tailing mode instead of Retailing mode
Create Ecosystem, which actually helps to connect with this customer - Majority of the retailer’s struggles to manage the technology changes at regular interval. On top of that the need is now to create the ecosystem, which allows them to serve the connected consumer. Lot of retailers feel that it starts and ends with providing a free wi fi and that is all they do
Increase Two Way Engagement – A connected consumer belief system is in interaction, and they need to be engaged and responded to instantaneously. Retailers need to manage these expectations swiftly & proactively. Having a 24 hour helpline and a feedback system is all good but the key is in demonstrating actions based on the feedback received and keeping everyone informed of the same.
A satisfied connected consumer is a great asset to have for any service. The Retailers need to wake up to this breed and recalibrate themselves to connect with the Connected Consumer. It is important for the retailers to believe in the power of these connected consumers as taken lightly it could lead to diminishing client base which keeps slipping even further as you make efforts to hold them tightly.
To find out how CPM´s Field Sales, Retail Sales & Retail Activation Services can help can help support retailers and brands to effectively manage, engage and retain this new breed of consumers, please contact us at: firstname.lastname@example.org or call :+44 203 481 1020