LYONSCG Client Forum Recap: A Day of Insights and Conversation
The LYONSCG client forum is an annual, one-day symposium that brings together some of the industry’s most innovative eCommerce professionals for a day of insights and conversation. Led by LYONSCG’s senior leaders, the invitation-only event gives customers, peers, and partners an opportunity to share experiences, explore trends, and exchange ideas with some of the sharpest minds in digital commerce.
This year’s event, held at theWit in downtown Chicago, was packed with discussions on some of the most pressing issues facing eCommerce organizations today.
The forum got underway with The New Paradigm of Retail, a session led by Forrester Vice President and Principal Analyst Sucharita Mulpuru, that explored challenges retailers face in today’s hyper-connected, multi-device climate.
The question on everyone’s mind seemed to be: What can retailers do to survive? Mulpuru shared three ways retailers can not only survive, but also thrive:
Mulpuru advised retailers to become better at execution by automating aspects of customer service, deliveries, and inventory.
Exposing inventory enables key multichannel capabilities like buy online/pick up in store and ship to/from store, said Mulpuru. If only 20 percent of your online inventory is available in physical stores, you’re not providing the flexibility and customer experience needed to thrive.
Enabling chat commerce to outsource delivery and customer service interactions and as well as developing a pool of on-demand, as needed labor are two other ways retailers can improve execution through automation.
Retailers can drive revenue, engagement, and customer experience by diversifying their offerings. Often executed through the “store within a store” concept, diversification can create new audiences and expand how customers perceive your brand. From pop-up shops and lounges to brand new formats altogether, diversification is one way retailers can open up revenue streams and thrive.
Finally, Mulpuru suggested that differentiating customer loyalty programs can help retailers thrive. She noted that today’s consumer belongs to an average of eight loyalty programs, many of which operate like rebate programs. Customizing loyalty programs by customer segment and offering ancillary benefits, such as access to content, are two ways retailers can differentiate.
Additional Customer Forum Highlights
Al Lalani, Social Annex founder and chief strategist, discusses the power of trust, referrals, and user-generated content in the second session, The ROI of Trust—Online, On Social, and In Store.
Brett Bair, Monetate’s senior director, marketing insights and strategy, leads the third session, Beyond CRO—Enter Experience Marketing.
Thanks for a Great 2016 Client Forum
We hope to see you again at next year’s client forum!
Brooke Seldin is a marketing content specialist in LYONSCG’s Chicago office. She is a writer, an editor, and a content strategist who specializes in eCommerce, technology, and digital marketing for B2C and B2B organizations. She can be reached at firstname.lastname@example.org.