marketing in retail: making the case for the cmo · the retail marketing leader currently seems...

Marketing in Retail: Making the Case for the CMO

Benchmark Report 2012 Nikki Baird & Brian Kilcourse, Managing Partners

September 2012

Sponsored by:

Supporting Sponsors:

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Executive Summary

The retail marketing leader currently seems halfway through a transition - reporting within the organization in the right place, but without the span of control or influence that will help that leader succeed as retail enterprises transform themselves into customer-centric organizations. And that serves as the primary theme we found in our 2012 benchmark on the state of marketing in the retail enterprise: The intent to embrace customer centricity continues, as strong as ever. But the reality is still far from the ideal.

Key Findings

• Two-thirds of respondents to this study report that their chief marketing executive reports to the CEO, but only 23% of respondents report that the highest-level marketing executive is the Chief Marketing Officer (CMO).

• The percent of respondents reporting that the VP of Stores owns the customer has declined significantly - from 18% in 2011 to 9% in 2012. And both the CMO (or equivalent) and the CEO have benefited from that decline - the percent of respondents reporting that the CEO owns the customer increased by more than five points.

• More Winners are using community social media such as Facebook as a communication channel: 61% vs. 45% of peers, and also outpacing all other communication channels, including print ads, direct mail, email, and TV.

• Building the brand and driving sales are the top two areas where retailers report their marketing departments are spending their time. They report spending the least amount of time on engaging customers, building customer loyalty, and communicating offers.

• Almost one-half of Winners and 40% of less-performing retailers say that measuring effectiveness is a top internal challenge to implementing a marketing strategy.

• One third more Winners than all others (55% compared to 42%) agree that tasking an executive with specific responsibility of the overall customer experience is the best way to overcome the internal challenges and inhibitors that they face.

• Almost half as many more Winners than others (47% vs. 31%) believe that investing in a streamlined marketing technology platform is critical, and an even greater differential exists as relates to technology experimentation (nearly double - 45% compared to 24%).

• The top three technologies reported by survey respondents were customer purchase analytics, CRM, and marketing operations planning. With these three solutions, any retailer theoretically has the ground floor to a more sophisticated marketing organization - the ability to understand customer behavior, target and influence that behavior, and coordinate that targeting across both channels and organizations internally.

BOOTstrap Recommendations

In order to cope with the shift from product-centric to customer-centric, retailers need to embrace several changes. First, make the organizational changes needed - elevate marketing to the same table as other chief executives and give the CMO ownership and accountability for the customer experience. As with all cultural shifts, it will take time for the full impact of these changes to take hold, but timing-wise, the organization needs to be aiming for something faster than evolution, and not quite as disruptive as revolution. Along with the organizational changes, the technology

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needs to follow - particularly in recognizing and capturing the value associated with customer data internally, which entails data integration to drive business analytics. Finally, don't wait for the ROI to become apparent before you act - it will already be too late. But do plan to fail fast and experiment often - it's the only way to keep up with the rapid changes in shopping behavior, and their ultimate impact on the retail organization.

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Table of Contents Executive Summary ........................................................................................................................ ii Research Overview ......................................................................................................................... 1

Defining Winners and Why They Win .......................................................................................... 2 Methodology ................................................................................................................................ 3 Survey Respondent Characteristics ............................................................................................ 3

Business Challenges ....................................................................................................................... 4 Doing More With Less, To Reach Fewer ..................................................................................... 4 Finding The Right Leader ............................................................................................................ 5 The Gathering .............................................................................................................................. 6 No Leader, No Confidence .......................................................................................................... 6

Opportunities ................................................................................................................................... 8 Running Up the Score ................................................................................................................. 8 Betting On It ................................................................................................................................. 9 What’s The Motive? ................................................................................................................... 10 New Demand Signals ................................................................................................................ 11

Organizational Inhibitors ................................................................................................................ 14 Everyone = No One ................................................................................................................... 14 Seeing The Problem .................................................................................................................. 15 Letting Past Success Get In The Way ....................................................................................... 16 Needed: A Leader… Plus Some Technology and a Sandbox ................................................... 17

Technology Enablers ..................................................................................................................... 18 Lots of Room to Grow ................................................................................................................ 18 Analytics: Single-Minded Pursuit of the Single View ................................................................. 18 Execution: Know Before You Go ............................................................................................... 20 Foundations: It's All About Sharing ............................................................................................ 20 CMO and CIO: BFFs? ............................................................................................................... 21

BOOTstrap Recommendations ..................................................................................................... 23 First and Foremost – Make The Organizational Changes Needed ........................................... 23 It Doesn’t Have To Be A Revolution, But It’s More than Evolution ............................................ 23 It’s All In The Data ..................................................................................................................... 23 Ask Them ................................................................................................................................... 24 Don’t Wait For It To Become Obvious Before You Act .............................................................. 24 The CMO/CIO Partnership ........................................................................................................ 24

Appendix A: RSR’s Research Methodology .................................................................................... a Appendix B: About Our Sponsors ................................................................................................... b Appendix C: About RSR Research ................................................................................................. d

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Figures Figure 1: The Right Place... ............................................................................................................. 1

Figure 2: ...Few in the Right Role .................................................................................................... 2

Figure 3: Retention is Hard, Differentiation is Not ........................................................................... 4

Figure 4: Who is Driving This Bus? No One. ................................................................................... 5

Figure 5: The CEO is Better Than No One ..................................................................................... 6

Figure 6: The More We Do, The Less We Know ............................................................................. 7

Figure 7: Running Up The Score ..................................................................................................... 8

Figure 8: the New Vies With The Old .............................................................................................. 9

Figure 9: Taking Control ................................................................................................................ 10

Figure 10: Awareness Vs. Immediacy ........................................................................................... 11

Figure 11: Capturing Demographic signals ................................................................................... 12

Figure 12: Capturing Behavioral Signals ....................................................................................... 13

Figure 13: Capturing Consumer Sentiment Signals ...................................................................... 13

Figure 14: Managing By Committee? ............................................................................................ 14

Figure 15: If You Can’t Measure It, You Can’t Change It .............................................................. 15

Figure 16: Success Can Breed Failure ......................................................................................... 16

Figure 17: Top-Down ..................................................................................................................... 17

Figure 18: The Sum of the Parts ................................................................................................... 19

Figure 19: CRM as Prerequisite .................................................................................................... 20

Figure 20: Operations Planning to Keep Ducks in Row ................................................................ 21

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Research Overview

Marketing in retail has historically had one main objective: to publicize the company's fantastic offers in order to drive sales. Were you expecting "build the brand"? Or "drive traffic"? Unfortunately, that has not been retail's past when it comes to marketing.

Two trends came along to completely disrupt this fairly tactical and product-centric approach to communicating with customers. These two trends are tightly intertwined: digital channels changed advertising forever right at the same time that retailing found it could not be successful long term by thinking of itself as a products industry - it had to become much more customer-focused.

As a result, the conversation with customers has fundamentally changed, right at its most ironic juncture. Just when consumers were becoming so much more price sensitive, retailers found that they needed to be able to engage with customers on so much more than just price. Internally, this has meant a major power shift - from merchandising as the heart of the enterprise, to marketing as the prime occupier of that role. If the customer is king (or queen), then how can a company whose marketing department serves primarily as the town crier for deals hope to successfully engage with that customer in more meaningful ways?

As retailers respond to cross-channel imperatives and the need to be more customer-centric, RSR has expected to see the marketing department, and its chief officer, play a more central role internally. So far so good: two-thirds of respondents to this study report that their chief marketing executive reports to the CEO (Figure 1).

Figure 1: The Right Place. . .

Source: RSR Research, September 2012

However, in terms of span of control, that chief marketing executive may still lack a significant amount of clout compared to the others with a seat at the CEO's table - only 23% of respondents report that the highest level marketing executive is the Chief Marketing Officer (CMO). Fully 57% of respondents said their chief marketing leader had achieved only some level of vice president internally.

The retail marketing leader currently seems halfway through a transition - reporting in the right place, but without the span of control or influence that will help that leader succeed as retail enterprises transform themselves into customer-centric organizations. And that serves as the primary theme we found in our 2012 benchmark on the state of marketing in the retail enterprise:

67%

3% 7% 3% 20%

CEO Chief Merchant COO Chief Customer Experience

Officer

Other

Chief Marketing Executive Reports to...

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The intent to embrace customer centricity continues, as strong as ever. But the reality is still far from the ideal.

Defining Winners and Why They Win RSR’s research always focuses on a category of retailers we call “Retail Winners”. Our definition of Retail Winners is straightforward. We judge retailers by year-over-year comparable store/channel sales improvements. Assuming industry average comparable store/channel sales growth of five percent, we define those with sales above this hurdle as “Winners,” those at this sales growth rate as “average,” and those below this sales growth rate as “laggards” or “also-rans.” It is consistent throughout much of RSR’s research findings that Winners don’t merely do the same things better, they tend to do different things. They think differently. They plan differently. They respond differently.

To illustrate some of these differences, let’s take a look at the highest level of the retail marketing executive internally (Figure 2).

Figure 2: . . .Few in the Right Role


The percent of Retail Winners who report that their highest internal marketing executive is a Chief Marketing Office outnumber their lagging peers by a ratio of almost 6 to 1. Winners are much less likely to rest the highest responsibility for marketing internally at a VP or Director of Marketing level. The implications are exponential - from this one difference, the opportunities available to Winners outstrip their peers, by giving the marketing executive an opportunity to fight for resources at the highest level of the organization. The ability to overcome inhibitors is also vastly different - a CMO has a greater opportunity for influence, for lining up supporters, and for making a case for the resources he or she needs to be successful. That is to say nothing of the cultural statement it sends internally, to place marketing on par with merchandising and operations on the leadership team: that the customer is just as important as products and stores.

As we will see in this report, retailers are rapidly coming to the painful realization that the customer may actually be more important than previously thought - and that more change is needed to successfully differentiate the customer experience. In addition to the importance of the

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Chief Marketing Officer Vice President of Marketing (includes Senior, Associate,

etc.)

Director of Marketing

Highest Title of Marketing Executive

Winners Laggards

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customer, retailers’ ability to derive insights quickly from the plethora of information available (sales transactions, online, mobile) and act on them to make the customer experience relevant can be a differentiator for their brand.

Methodology RSR uses its own model, called the “BOOT,” to analyze Retail Industry issues. We build this model with our survey instruments. Appendix A contains a full explanation of the methodology.

In our surveys, we continue to find differences in the thought processes, actions, and decisions made by retailers who outperform their competitors and the industry at large – Retail Winners. The BOOT model helps us better understand the behavioral and technological differences that drive sustainable sales improvements and successful execution of brand vision.

Survey Respondent Characteristics RSR conducted an online survey from June - September 2012 and received answers from 131 qualified retail respondents. Respondent demographics are as follows:

• Job Title: Senior Management (CEO, CFO, COO) 20% Vice President 9% Director/Manager 25% Internal Consultant & Staff 30% Other 16%

• 2011 Revenue (US$ Equivalent)

Less than $50 Million 13% $51 - $999 Million 33% $1 - $5 Billion 27% Over $5 Billion 28%

• Products sold:

Fashion / Short Lifecycle 15% Seasonal 16% Replenishment Goods 19% Durable / Hard Goods 28% Perishable / Food 22%

• Headquarters/Retail Presence:

USA 80% 82% Canada 3% 37% Latin America 1% 20% UK 1% 24% Europe 9% 28% Middle East 4% 19% Africa 0% 11% Asia/Pacific 2% 26%

• Year-Over-Year Comparable Store Sales Growth Rates (assume average growth of 5%):

Better than average (Retail Winners) 35% Average 48% Worse than average (Laggards) 17%

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Business Challenges

Doing More With Less, To Reach Fewer Today's top three business challenges in marketing, according to our retail survey respondents, are: customer retention & loyalty, the uncertain economy's impact on the marketing budget, and fragmenting customer segments (Figure 3). Survey respondents put differentiation challenges and customer privacy concerns at the bottom of the list.

Figure 3: Retent ion is Hard, Different iat ion is Not


Taken together, this list of challenges indicates that it's getting harder to retain loyal customers and to top it off, there is less budget available to do it with. Additionally, for either existing customers or for new ones, there are more ways to reach shoppers than ever before, but the trade-off is smaller and smaller effective segments.

The good news is that perhaps with the exception of a vocal minority, few seem to care how much information retailers collect about shoppers. Armed with detailed information about consumers, innovative retailers continue to find opportunities to differentiate themselves - a promising opportunity in an era of declining net marketing effectiveness. Retailers must not only collect the data, but have the ability to transform it into actionable insight quickly.

In looking at various respondent segments, we found some differences in perception:

• 55% of Retail Winners report that customer segments are fragmenting, vs. 41% of peers. However, Winners rate keeping up with all the new ways to engage with customers at the same level as peers - 33% of both groups rating it a top-three business challenge.

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Customer pushback against the amount of information we collect about them

It's hard to differentiate our brand from our competition

We can't keep up with all the new ways to engage with consumers

Too many communication channels have unproven effectiveness

Competitors can see and copy innovations too easily

Customer segments are fragmenting, making it harder to reach our consumers

The uncertain economy constrains our marketing budget

Customer retention has become more difficult and building customer loyalty is challenging

Top-3 Marketing Business Challenges

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• 63% of non-winning retailers rate customer retention their top business challenge, vs. 50% of Winners. They may be encountering challenges related to how they use customer information today - twice as many non-winning retailers reported customer pushback against the amount of information retailers collect (17% vs. 8% of Winning retailers).

• The largest retailers - those doing more than $1B in yearly revenue - drive the majority of concerns about customer retention. Smaller retailers, under $250M in revenue, report feeling more impact from competitors copying their innovations so quickly.

Finding The Right Leader As the customer becomes more important internally, retailers continue to struggle with how to structure themselves to make sure they are paying the right kind of attention to the customer experience. As we said in last year's report, if "everyone" owns the customer experience internally, then no one really owns it.

From 2011 to 2012, there have been some interesting internal shifts (Figure 4).

Figure 4: Who is Driv ing This Bus? No One.


"No explicit owner" still unfortunately leads the top of the list in terms of who owns the customer internally to the retail organization. While the percent of respondents reporting no explicit owner has declined, the shift has not come at the definitive benefit of any clear winner organizationally. At the very least, we can say that there has been little progress made in designating a single owner of the customer experience.

However, where a single owner already existed, retailers have made some interesting moves over the last year. The percent of respondents reporting that the VP of Stores owns the customer has declined significantly - from 18% in 2011 to 9% in 2012. And both the CMO (or equivalent) and the CEO have benefited from that decline - the percent of respondents reporting that the CEO owns the customer increased by five points.

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Who in your company is responsible for the customer experience?

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As the de facto owner of customer data, the CMO as owner of the customer experience makes sense, particularly if that individual is truly the CMO and not a director-level person reporting into merchandising.

On the other hand, the CEO as owner is more challenging. While it may be true that a retail CEO should be instrumental in defining a customer experience vision, that individual usually doesn’t have the day-to-day responsibility to successfully execute on that vision. And without a strong lieutenant with both oversight and accountability, execution will either go awry - unnoticed - or will never happen at all.

When taken together, the number of respondents reporting that either the CEO or “no explicit owner” has responsibility for the customer experience totals 43% - that is nearly half of respondents where ownership of the customer experience is not by someone with direct line of business responsibilities. As far as putting the customer at the center of the enterprise goes, this level of leadership is nothing short of a disaster waiting to happen.

The Gathering By performance, the biggest differences appear between CEO and “no explicit owner” - 26% of Retail Winners report that the CEO owns the customer experience (vs. 15% of peers), while 25% of non-winning retailers report that there is no explicit owner (vs. 19% of Winners) (Figure 5).

Figure 5: The CEO is Better Than No One


It is quite possible that Retail Winners are placing the responsibility with the CEO in preparation for further future moves - consolidating the responsibility at the highest level before settling it into a strengthened marketing organization, or perhaps designating a customer experience organization into which marketing reports.

No Leader, No Confidence Ultimately, one might ask why it should matter who owns the customer experience, as long as the retail organization overall is focused on delivering a differentiated experience. Figure 6 answers that question - without a guiding vision, and the organizational clout to make sure that vision comes to life, retailers' ability to recognize and embrace their best shoppers declines.

19% 26% 25%

15%

No explicit owner CEO

Who in your company is responsible for the customer experience?

Winners Others

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Figure 6: The More We Do, The Less We Know


From 2011 to 2012, the percent of retailers agreeing that their company is proficient at targeted marketing across channels - and that their loyalty programs have helped their marketing efforts - has increased significantly. However, one would then expect that the retailers agreeing that they know who their best shoppers are would also increase correspondingly, and that has not been the case. As retailers' confidence in their marketing abilities have grown, it apparently has only underscored how little they actually know about their best shoppers. This points to problems with data management and ability to glean business insight from information. In earlier reports, RSR has highlighted the importance of a quality data and analytical foundation.

Retail Winners have more confidence than their peers - 68% of Winners agree or strongly agree that they know who their best shoppers are, vs. only 47% of their peers. And they are almost twice as likely to agree that their company is proficient at targeting across channels - 54% of Winners vs. 34% of peers.

As with all challenges, one person's challenge is another's opportunity. This one gap - between using customer data to best effect vs. actually knowing anything about customers - becomes the underlying theme of the marketing opportunities that follow.

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43%

My company knows who our best shoppers are.

Our customer loyalty program is a foundational element of our marketing

strategy.

My company is proficient at targeted marketing across channels.

Relative Customer Engagement "Strongly Agree/Agree"

2012 2011

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Opportunities

Running Up the Score As pointed out above, Retail Winners are more confident than their lesser performing peers that they know who their best shoppers are, and a majority of Winners feel that they are proficient at targeting across channels. Such findings might lead us to assume that lagging retailers would want to accelerate to catch up with the Winners, but responses to our survey don’t bear that out. In fact, Winners are for more likely to see the opportunities associated with a customer-centric approach than their competition (Figure 7).

Figure 7: Running Up The Score


In fact, far more Winners than other performers see the opportunity for offering better solutions to consumers’ lifestyle needs by capturing more information about customer preferences, asking for direct input from consumers, and changing the organization’s focus to be more customer- (and less product-) centric. This result ties directly to what we saw previously in this report, that although Winners see customer segments as fragmenting, they are also confident that it works in their favor. With the right attention paid to customer preferences (either explicitly stated or implied

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Driving traffic from one channel to another

Become more focused on our company's brand promise to consumers

Turning customers into brand advocates through social media

Raise the barriers to entry for competitors

New marketing channels enable us to truly differentiate our brand

A greater focus on customer experience, less on product

Developing better products and services through more direct customer input (i.e., crowdsourcing)

More effective targeting by capturing more detailed customer preferences

Please rate these opportunities for marketing to contribute to your company's success (Very Valuable)

Winners Others

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by their behaviors), over-performers are confident that they can build a compelling brand experience that creates a competitive roadblock for their competition.

Betting On It Retail Winners want a greater level of communication with consumers. In the past, the only way to have a two-way conversation with consumers was via focus groups or one-to-one. And with traditional media, the dialogue is one way and feedback is indirect. Retailers and their partners annually spend millions advertising their products and services, and feedback comes in the form of success or failure at the checkout counter. “Preference” is implied in sales.

But today’s “new” social media creates new possibilities. It’s direct and two-way – it’s conversational. It has the potential to return “social capital” to the fabric of retailing – much like conversations at the corner stores of the 19th and early 20th centuries, but on a larger, more high-tech scale. In our survey results it is clear to see that Winners have taken this opportunity to heart (Figure 8).

Figure 8: the New Vies With The Old


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Single-offer discounts (for example, Groupon or Living Social)

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Radio

Twitter

TV

Online advertising (display, video)

Email

Direct Mail

Print ads - includes newspapers, inserts/circulars

Facebook or other community social network (for example, Hi5 or Renren)

Which communications channels do you leverage today? (Select ALL that apply)

Winners Others

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Somewhat surprisingly, more Winners are using community social media such as Facebook as a communication channel than any other option. Furthermore, there’s a 35% spread between Retail Winners and all others in the use of community social networks as a way to reach consumers. In a similar vein, Retail Winners are half again as likely as their peers to use Twitter, and have nearly as large of a gap in the use of mobile advertising.

For Retail Winners then, investing in “new” media is a bet worth taking, whereas other retailers are less certain. But that doesn’t mean that Winners have abandoned more traditional channels. In fact, Winners and other retailers continue to use direct mail, e-mail, online, TV & radio, search, and magazines in roughly equal numbers. The data suggests that the new channels are in addition to, and not a replacement for, investment in the more traditional channels. It’s also important to note although new media operate exclusively in the digital domain, experimenting with and ultimately adopting these new forms of communication is consolidating under the control of the CMO (Figure 9), not “others” (including the CIO).

Figure 9: Taking Control Corporate

Marketing Merchandising eCommerce

/ Direct Digital Marketing

Other

Facebook or other community social network

Winners 50% 13% 19% 19% 0%

Others 44% 13% 13% 11% 19%

Twitter

Winners 50% 6% 19% 16% 9%

Others 40% 13% 10% 13% 25%

Mobile advertising

Winners 39% 6% 26% 16% 13%

Others 40% 13% 15% 13% 18%


What’s The Motive? For some retailers Brand value is driven primarily by price and convenience (particularly those retailers who sell fast moving consumer goods), whereas for others the Brand is all about the overall image that is projected into the marketplace (for example, exclusive specialty brands’ focus on lifestyle). But all retailers have to decide how to allocate their marketing budgets across those two broad choices. Should they develop messages that build an overall awareness of the Brand, or should they create a sense of immediacy with product- & price-oriented messages to drive sales?

The answer is “yes” to both. An equal number of our respondents rate “build the brand” and “drive sales” as the highest priorities for their marketing spend, somewhat conflicting objectives (Figure 10). Although Winners place a slightly higher priority on efforts to “build the brand”, the cardinality of objectives is consistent for most retailers who responded to the study.

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Figure 10: Awareness Vs. Immediacy


Interestingly, the two objectives that were rated lowest by most respondents were “communicate promotions” and “build customer loyalty”. Those two choices are related to the extent that a “loyal customer” is defined as a frequent shopper who is offered volume-triggered discounts. But “discounts” are more about pricing, and that lives in the Merchant’s domain. The Marketing group is responsible for framing the Brand more broadly – as the sum total of all the impressions that a consumer has about the value proposition with the objective to build a bias in the consumer’s mind for the Brand. However, within that context, the fact that customer engagement and loyalty rank so low overall in how marketing departments spend their time promises to make achieving brand-building objectives all the more difficult.

New Demand Signals Since the widespread adoption of point-of-sale systems in stores in the 1980’s, the POS barcode scan has been a reliable proxy for consumer demand. Looking back, it’s easy to see now how revolutionary that new data was. Retailers could rationalize their assortments and optimize their supply chains, and perfect the mass merchandising model. Those who excelled at it (for example, Walmart and Tesco) were able to scale their businesses to previously unimagined sizes.

But retailers know that the POS scan isn’t really the best or only indicator of demand. For example, if an item isn’t in the assortment, a retailer is challenged to understand what could have sold. But by and large, it worked; consumers bought what retailers offered.

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Rank order the following priorities according to how much time your company's marketing department spends on each

activity (All)

Build the brand Drive sales Drive traffic (stores, website) Communicate promotions Acquire new customers Engage customers Build customer loyalty

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That was before the rise of digital selling channels and the anytime/anywhere availability of information that consumers now have at their fingertips. The good news is that retailers have new demand signals available to them to help them understand what consumers want, and many of those signals are pre-transactional (for example, the top internet search items). The bad news is that these new demand signals have to be collected, analyzed, and turned into actionable information (this has given rise to the notion of “big data” in retail). But the idea behind them is hardly new; retailers have wanted to understand demographic, behavioral, and sentiment signals for a long time. Before now, the technologies that generated these kinds of data have been fairly broad-brush. The question is, now that new and much more granular signals can be harvested from the digital channels (and particularly smart mobile), where are retailers investing?

The results of our survey show that the answer to that question is “stand by: we’re thinking about it.” For every legacy technology capable of capturing some form of demographic, behavioral, or sentiment signals (E-mail, in-store POS and kiosks, eCommerce site, and call center), retailers indicate they have few or no new plans to further develop the capabilities of those systems (Figures 11, 12, 13). But newer technologies don’t fare much better in retailers’ plans, with the notable exception of consumer mobile (either general use or location-specific) technologies – and even then, positive responses only come from a minority of retailers.

Mobile is the focus for retailers now – everything else is back-burnered. But that is reflective of the profound impact that smart mobile technology has had on retail, with its promise of a buy anywhere/get anywhere value proposition. RSR’s recent research shows that retailers are still experimenting with the notion of an omni-channel operating model. A clear set of “best” practices hasn’t emerged yet - although in the coming 12-18 months we fully expect that to happen.

Figure 11: Captur ing Demographic s ignals


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Which Channels Are Sources Of Demographic Customer Data?

Current Future No Plans

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Figure 12: Captur ing Behavioral Signals


Figure 13: Captur ing Consumer Sent iment Signals


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Which Channels Are Sources Of Customer Behavioral Data?


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Which Channels Are Sources Of Customer Sentiment Data?


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Organizational Inhibitors

Everyone = No One In RSR’s 2011 report on the state of marketing in retail, we reported:

“For several years, RSR has noted the culture shock brought on by the sudden influx of customer-specific data into the retail enterprise. As early as 2007 our benchmark data revealed that more often than not, customer data had no explicit home, with marketing sitting as the de facto owner.”1

In the 2011 study, respondents indicated that they at least had turned a corner when it came to “ownership” of customer-specific information. But this year’s respondents have a different opinion, not nearly so hopeful (Figure 14).

Figure 14: Managing By Committee?


This result closely reflects the result we saw when asking about overall responsibility for the customer experience (Figure 4). General Motors’ legendary pre-WWII-era head of research Charles Ketterling once said that “If you want to kill any idea in the world, get a committee 1 Customer Centricity 2.0: The Rise of the Chief Marketing Officer, 2011 Benchmark Report, © 2011 RSR Research LLC

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Which organization owns customer data internally to your company?

Merchandising

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Store Operations

eCommerce or Direct Channels

Supply Chain / Fulfillment

Customer Service / Call Center

No Explicit Owner

15

working on it.” When it comes to ownership of a key information asset, we couldn’t agree more. Management-by-committee rarely yields a desirable outcome, and with Marketing at the center of retailers’ efforts to build their Brand Value with information-rich and time-starved consumers, failure to assign responsibility and accountability for customer information is a formula for failure. And although it’s unusual, Retail Winners don’t fare much better than the overall group in this regard: only 26% of over-performers have assigned responsibility of customer information to marketing (with “IT” and “no explicit owner” also frequently chosen).

More than any other factor, this data point indicates the “newness” of the customer-centric agenda for many retailers. But it also underlines in big bold letters how much there is to be done to make some progress. Until organizational responsibility for this new and central information is assigned – hopefully to Marketing – progress is bound to be painful and slow.

Seeing The Problem With the ownership of customer-related information in apparent limbo, it can be no surprise that using it to measure the effectiveness of various marketing tactics is a challenge that has become a true inhibitor. And sure enough, almost one-half of Winners and 40% of less-performing retailers say that this is a top internal challenge to implementing a marketing strategy (Figure 15).

Figure 15: I f You Can’t Measure It , You Can’t Change It


20%

28%

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49%

Collecting data from channel promotions to make better pricing decisions

The technology is not advanced enough to support the kind of brand experience we'd like to

Consumer privacy concerns over how we collect or use personal data

Difficulty gaining organizational buy-in to an expanded marketing function

Understanding and accommodating how different customer segments engage with us

Measuring the cross-channel impact of different marketing tactics

Customer data is not integrated and so customer insight is spotty

Difficulty coordinating internally to create a seamless cross-channel experience

Measuring the effectiveness of different marketing tactics

What are the top three (3) challenges you face in implementing your marketing strategy?

Winners Others

16

Beyond that finding, most retailers are in general agreement about internal challenges that must be resolved, except in one key area: coordinating internally to create a seamless cross-channel experience – there’s a 44% differential between how Retail Winners rank this challenge, vs. all others. As we’ll see in a moment, the explanation is that internal groups that may have driven past success aren’t necessarily on board with customer-centric imperatives now.

Letting Past Success Get In The Way Winners’ difficulty getting internal organizations to coordinate to create a seamless cross-channel experience comes into sharp focus when we asked them to identify the inhibitors to seizing new opportunities (Figure 16).

Figure 16: Success Can Breed Fai lure


The biggest single inhibitor for over-performing retailers is that the merchandising organization hasn’t bought into the notion of focusing more on a customer- (rather than product-) centric Brand Value. With Marketing not having ownership for the overall customer experience (Figure 4) and not having ownership of the customer information asset (Figure 14) for so many retailers, this inhibitor is utterly predictable. Without authority and accountability for a re-direction of the

24%

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21%

43%

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27%

8%

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44%

The executive team doesn't understand the opportunity

ROI is hard to quantify

Marketing activities are splintered across too many different departments

Customer data is siloed across various organizations

Our value proposition is focused on price, not brand

We don't have enough marketing resources to manage all the available opportunities

Our culture and processes are too product-oriented

Difficulty getting IT resources for marketing projects

The merchandising organization does not understand the digital strategies we need to

support marketing

Please identify the top three (3) organizational inhibitors standing in the way of taking advantage of these

opportunities Winners Others

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company’s overall focus, it won’t happen – particularly when the organization that was the architect of past product-centric strategies is now being asked to give up control. And subsequently, the IT organization will essentially tell the marketing people to “get in line” behind the backlog of other pressing changes to existing processes. After all, why should they cooperate?

Average and under-performers have a different problem: they can’t find an ROI to change. And that underlines the fundamental conundrum for all retailers – many of the changes being demanded by consumers haven’t been proven yet. Non-Winners don’t want to be on the front edge of change – they are waiting for it to prove itself in the marketplace before they commit to putting more marketing resources towards making such a big change.

Needed: A Leader… Plus Some Technology and a Sandbox One third more Winners than all others (55% compared to 42%) agree that tasking an executive with specific responsibility of the overall customer experience is the best way to overcome the internal challenges and inhibitors that they face (Figure 17).

Figure 17: Top-Down


But for over-performers, fixing organizational issues isn’t the only way to make progress; for them, technology is also important. Almost half as many more Winners than others (47% vs. 31%) believe that investing in a streamlined marketing technology platform is critical, and an even greater differential exists as relates to technology experimentation (nearly double - 45% compared to 24%). Winners know that the new paradigm is driven by consumer adoption of technology – and that they need a “sandbox” to experiment in. As we’ve already seen, average and under-performers prefer to wait for someone else to be on the bleeding edge of change.

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Case studies/success stories in my vertical

Solutions that don't burden our IT department

A savvy cross-channel agency to help manage our brand

More experimentation with new technologies

Investment in a streamlined marketing technology platform or infrastructure

More coordination between selling channels and marketing

An executive tasked with managing and improving the overall customer experience

Design a more differentiating value proposition and customer experience

Overcoming Inhibitors (Very Valuable)

Winners Others

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Technology Enablers

Lots of Room to Grow RSR's 5C's framework for understanding cross-channel opportunities works equally as well for understanding retailers' marketing technology priorities. These technologies can be grouped roughly into three categories: Analytics, which provide the capabilities for Context and Customer Insight; Execution, which focuses on the more tactical engagement elements of Content, Community, and Commerce; and Foundational, which provide the more internally focused operational capabilities that support a marketing department's efforts.

Across all three of these categories, almost all technologies that we benchmarked have a larger percent of respondents reporting that they plan to invest than have already implemented. The only exceptions are social media analytics, customer purchase analytics, and CRM. Also, there are no technologies where the current use by retailers exceeds the value they assign to it. In some ways, this reflects the relative immaturity of technology tools that directly support the marketing function - especially when compared to, for example, supply chain or merchandising.

In line with that, we found relatively low reports of adoption overall, which in many ways reflects the lack of buildout of a customer experience / marketing organization. In terms of value, the top 3 technologies reported by survey respondents were customer purchase analytics, CRM, and marketing operations planning. With these three solutions, any retailer theoretically has the ground floor to a more sophisticated marketing organization - the ability to understand customer behavior, target and influence that behavior, and coordinate that targeting across both channels and organizations internally.

By performance, we found few significant standout technologies - Retail Winners tend to value all of the marketing solution options we asked about more so than their peers, and tend to be slightly more ahead of the game in terms of adoption.

Analytics: Single-Minded Pursuit of the Single View Analytics tools make up by far the largest category of solution options that we asked about in our survey. More than anything else, this demonstrates one of the biggest differences between marketing's technology needs and those of the rest of the organization. For merchandising and channel operations, a transaction is the end goal - either the purchase or delivery of products, or the sale of products.

For marketing, the transaction is where their work begins. And their primary objective is to derive insights. Marketers can influence behavior, but the effectiveness of that influence is meaningless if it can't be measured. Our survey respondents agree - they place almost twice as much value on customer purchase analytics as on any other kind of analytics available to them (Figure 18).

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Figure 18: The Sum of the Parts


Customer purchase analytics could easily be viewed as the sum of all the other types of analytics, with perhaps the exception of predictive analytics. Taken all together, the sum of social media analytics, revenue attribution, web and market basket analytics add up to provide a single view of the customer, which continues to be a significant challenge for retailers to achieve.

In line with the business challenges of fragmenting segments and uncertain budgets, revenue attribution is also getting a big nod from survey respondents in terms of value - to help retailers understand not just the last spend that converted the sale, but how well all of the activities along the funnel contributed to the conversion. Hand in hand, customer purchase analytics and revenue attribution could be extremely powerful: what customers have purchased over time, and how much each touchpoint contributed to those purchases. The rest become facets - for example, web analytics as a contributor to understanding path to purchase, but not the overall driver of marketing activities online.

In one of the more interesting shifts over time, customer purchase history is almost twice as important as market basket. This more than anything demonstrates that it's not about the products you sell, it's about the customers who buy. If that were not true, then we wouldn't care who bought the products over time, just which products are selling. The product-centric age is clearly over.

Beyond customer purchase analytics, one could interpret the fall-off of adoption on social media analytics as the bloom off the rose, but more likely it's retailers taking a deep breath before diving in again - understanding what social media analytics really contributes to the overall picture of the customer and what they buy. Of all the types of analytics represented here, it is the newest on the scene. Retailers are still working to understand exactly what kind of insights social media analytics can provide, and if they are valuable beyond basic sentiment analysis.

26%

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Predictive analytics

Customer purchase analytics

Market basket analytics

Web analytics

Revenue attribution and campaign ROI analysis

Social media analytics

Analytics: Value vs. Use

Very valuable Implemented / Rolling Out Budgeted / Selected

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Execution: Know Before You Go In RSR's first benchmark on CRM and loyalty, retailers reported that they loved customer loyalty, but hated loyalty programs. In those seven years, customer relationship management (CRM) has gone from something despised to one of the most valuable tools in marketing execution (Figure 19).

Figure 19: CRM as Prerequis i te


CRM's rise in value is inevitable. As traditional engagement channels fragment and it becomes more and more difficult to identify and reach valuable groups of customers, retailers have to turn to other means. CRM not only helps retailers keep track of customers as they cross channels, it helps provide a built-in means for communicating with those customers - reaching them beyond more mass, and increasingly fragmented, communications channels.

And then there is retargeting - in some ways, the new pop-up ad. Done well, as in, targeted, relevant, and not annoying to the shopper, it works. Done poorly, retargeting will quickly ruin the technique for everyone else. The bad news is, it really works. Anecdotally, retailers have reported to us that more and more of their digital marketing spend is being diverted to retargeting because the ROI is so easy to justify.

But as more retailers make that spending shift, the likelihood of a tragedy of the commons increases. It's annoying to be retargeted for something in your online shopping cart that you just bought in a store, not to mention how much it reveals the depths of the retailer's ignorance across channels. Annoy too many people, and those angry shoppers will make it harder for retailers to continue the practice.

Foundations: It's All About Sharing There aren't a lot of technology solutions that are targeted to support the "marketing process" - too much of it is iterative and loose to be easily assisted by enterprise software. However, that does not mean that marketers are on their own - and in fact, as their customer insights and engagement capabilities increase in value across the enterprise, there is only going to be more

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Retargeting / personalized offers

A/B Testing management

Digital Marketing platform

Promotion planning solution

Customer relationship management software

Execution: Value vs. Use


21

need for marketing operations solutions to help marketers share and spread their insights across the entire organization.

Survey participants report that the two most valuable foundational technology solutions are marketing operations planning and customer segmentation software (Figure 20).

Figure 20: Operat ions Planning to Keep Ducks in Row


Retailers have consistently reported in past RSR reports that customer segments as a strategic tool are critical, but that the segments themselves are relatively short-lived. Especially as retailers struggle to manage fragmenting customer segments, the retailer who can quickly identify and embrace segments that emerge around fads or cultural flashpoints will quickly find advantage.

The reported adoption of workflow management to support marketing operations seems a bit aspirational by our respondents, but the fact that so many of the retailers in our survey identify with this kind of solution seems emblematic of the challenges surrounding technology use within the marketing organization. Marketing needs iterative, collaborative process flows that do not follow the linear organization of most transactional applications.

Finally, content management continues on a slow burn as it begins to rise in importance to the retail enterprise. While conceptually most retailers agree that content needs to be managed well, and needs to be leveragable across multiple communication channels, the reality is far more complex, involving discussion around the right level of resolution at which to keep certain media - with cost of storage and ease of handling considerations - and whether a certain piece of media is truly leveragable to begin with (for example, is a video created for the web also the right length and format for use in a store?).

CMO and CIO: BFFs? The industry is not blind to the rising importance of customer internally to the retail organization, and the somewhat inevitable rise of the chief marketing officer as the owner of customer data. Much has been made about the "new" relationship that needs to be forged between IT and

25%

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24%

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Collaborative workflow management

Marketing operations planning

Content management system / Digital asset mgmt

Customer segmentation software

Foundations: Value vs. Use


22

marketing - two organizations that historically have not had much to do with each other and typically occupy the opposite ends of the left brain/right brain spectrum.

The technology needs of marketing will only increase - but it is important to remember that it's not just about connecting marketing back with the rest of the organization so that customer insights can be more easily shared and activities across product and customer more easily coordinated. Marketing will ultimately need a better set of tools to run its own activities internally, especially as more and more of those activities leverage digital touchpoints with customers.

23

BOOTstrap Recommendations

In RSR’s 2011 marketing study, we made the point that the “changes that are needed aren't really about process or technology. They are about strategy.” Since that time, retailers have moved very rapidly from a certain level of skepticism about “omni-channel” retailing to acceptance of the concept. Now the hard work really begins; if retailers are going to move from a pure product-centric model to something that is more customer-centered, what is the new model? What do consumers really want? And how will retailers know if they’re headed in the right direction or not? Most fundamentally, who should lead the charge?

There is no “one right way” to approach these kinds of questions – so much depends on the Brand’s value proposition and how that value is delivered. But one thing that most retailers now understand to be true is that the consumer – not the retailer – is driving the change. And that is singly the most important reason to have an empowered CMO on board: to engage with consumers to understand where they are taking the retailer.

First and Foremost – Make The Organizational Changes Needed If your company doesn’t already have someone with the title “CMO”, get one. The CMO should report to the CEO, and be a peer to operational senior vice presidents (or your organization’s equivalent). The CMO must have clear responsibility and accountability for the design of the overall customer experience – the roadmap for how all the channels will work together to satisfy buy anywhere/get anywhere requirements. The CMO must also be established as the “owner” of all customer information within the corporation.

If this is politically difficult, consider changing the game: a CXO, instead of CMO - as in, Customer Experience Officer - and to whom marketing then reports. Ultimately, this is the kind of ownership that will be required. More than just customer data and insights (marketing), and more than just one single channel of engagement (whether marketing in digital channels, or store operations, or eCommerce, etc.).

It Doesn’t Have To Be A Revolution, But It’s More than Evolution Supporting buy anywhere/get anywhere shopping doesn’t necessarily mean turning the company’s operational model inside out, but neither is it a minor change. Intrinsic to evaluating its impact to operations is understanding what paths-to-purchase consumers are likely to take (for example, the extent to which digital orders with in-store fulfillment are a desirable option) – and which ones your company wants to support. Since there is no one-size-fits-all model to emulate, retailers need to experiment, listen, and learn. The results of experimentation will impact every operational group in the company to some degree, and so the working group that designs, implements, and evaluates aspects of the new customer experience should consist of representatives from every part of the business – with executive guidance by the CMO.

It’s All In The Data In a customer-centric business, the customer “dimension” of data is every bit as important as the product dimension, but its attributes may not be well identified and its uses may not be well understood. This is an area where the CIO can really help the CMO by assigning data professionals to help identify what information the company currently has about customers and what it needs to know to support its buy anywhere/get anywhere model. Then, the IT group can help identify how that data is captured and how it can be analyzed. A good CIO already has his or

24

her arms wrapped around customer data, such that it is available in the systems they already support. But too often this makes the CIO the de facto owner of said data, and that must change. Although the CIO must support all aspects of customer information internally (and it's time for the under-the-desk data that has been hiding in the marketing department to see the enterprise light), it is the CMO who should sponsor these efforts.

Ask Them It's amazing how rarely the option of just asking your customers what they want occurs to retailers. Not as in, voice of the customer surveys or expensive and somewhat unreliable focus groups. As in, simple questions: did you like that offer I just gave you? Would you like to receive more like this one?

But technology also enables the larger conversation on a larger scale: it gives retailers the opportunity to talk to customers about what they are doing - their best customers, or their biggest fans, or their most engaged customers - and get their feedback. Social media and virtual forums (which can have the added benefit of the air of exclusivity) are perfect mediums for these kinds of conversations. However, it becomes critical to future credibility that the retailer either act on the advice provided, even if it runs counter to expectations, or at least explain why the advice won't be followed. Don't ask for feedback if you don't want to hear it.

Don’t Wait For It To Become Obvious Before You Act Consumer adoption of technology is the principle driver of change in the retail industry today. But the world of consumer technology moves at an extremely fast pace and is changing all the time. Waiting for the dust to settle on a few time-proven buy anywhere/get anywhere “use cases” would be a mistake, in RSR’s view. But that means that companies can’t wait for a strong ROI to emerge before acting. Retailers need to get closer to the “front edge” of the change.

The CMO/CIO Partnership The new selling channels “live” in the digital domain, new media are digital, and virtually all the information needed to offer personalized and relevant products and services to a large group of consumers must be captured digitally. Since IT is responsible for the information (ie. “digital”) asset, it follows then that the CMO cannot succeed without the active support of the CIO. But it goes both ways: the CIO, an executive forever fretting about alignment and “having a place at the executive table”, has a big opportunity to be impactful by supporting the CMO. The relationship between the CMO and the CIO could form the power duo of next generation retailing – but only if those two executives join as true partners.

a

Appendix A: RSR’s Research Methodology The “BOOT” methodology is designed to reveal and prioritize the following:

• Business Challenges – Retailers of all shapes and sizes face significant external challenges. These issues provide a business context for the subject being discussed and drive decision-making across the enterprise.

• Opportunities – Every challenge brings with it a set of opportunities, or ways to change and overcome that challenge. The ways retailers turn business challenges into opportunities often define the difference between Winners and “also-rans.” Within the BOOT, we can also identify opportunities missed – and describe leading edge models we believe drive success.

• Organizational Inhibitors – Even as enterprises find opportunities to overcome their external challenges, they may find internal organizational inhibitors that keep them from executing on their vision. Opportunities can be found to overcome these inhibitors as well. Winning Retailers understand their organizational inhibitors and find creative, effective ways to overcome them.

• Technology Enablers – If a company can overcome its organizational inhibitors it can use technology as an enabler to take advantage of the opportunities it identifies. Retail Winners are most adept at judiciously and effectively using these enablers, often far earlier than their peers.

A graphical depiction of the BOOT follows:

b

Appendix B: About Our Sponsors

NCR is leading the way in a new world of retail interactions - with industry focus, innovation and expertise along with one hundred and twenty eight years of experience and insights. NCR is your partner in business transformation. We offer converged retailing—c-tailing™— solutions, which enables a personalized experience based on consumer preference through multichannel solutions, whether in-store, online or mobile.

NCR can help retailers increase customer loyalty and create a true competitive advantage.

For more information email [email protected] or visit www.ncr.com.

With SAS’s 35 years of advanced analytics and retail domain expertise, retailers choose SAS to drive better business results. SAS provides winning retailers with solutions for retail merchandise planning, size optimization, localized assortment optimization, allocation, space planning and optimization, price optimization, customer insight, social media analytics, campaign management and advanced forecasting across the enterprise. SAS provide flexible deployment models, and SAS retail intelligence is ramped up at your pace. Retailers turn and return to SAS because SAS drives better results.

For further information, visit http://www.sas.com/retail/

c

Supporting Sponsors

Teradata products and services provide retailers with the ability to analyze, predict and act quickly on big decisions related to market conditions or a variety of little decisions, the kind sales associates encounter with customers daily. Built on the powerful foundation of a Teradata Database, Teradata provides insight into:

1. Supply and demand patterns so that you can quickly respond to out of stock or overstock situations

2. Customer segments so that you can better understand who they are and which ones are valuable to your business

3. Promotions and offers so that you can optimize for higher redemption and response 4. Assortments so that the you can localize for different markets and customer segments 5. Key cost drivers in your operation, so that you can operate more efficiently

For more information, please visit http://www.teradata.com/industry-expertise/retail/

PivotLink is the leader in on-demand retail performance management applications for customer-centric retailers and retail-related companies such as Kelly-Moore Paints, Timbuk2, Party City, Rossignol, Shaklee, and The North Face.

Encompassing customer analytics, marketing optimization, and retail best practice reporting, PivotLink’s suite of cloud-based applications and third-party data empower business users with actionable insights to serve their increasingly connected, mobile, omni-channel consumers. PivotLink is a privately held company backed by Trident Capital, Emergence Capital Partners, StarVest Partners and Pelion Venture Partners.

For more information, visit www.pivotlink.com or follow @PivotLink on Twitter at http://www.twitter.com/pivotlink and Facebook at http://www.facebook.com/PivotLink.

d

Appendix C: About RSR Research

Retail Systems Research (“RSR”) is the only research company run by retailers for the retail industry. RSR provides insight into business and technology challenges facing the extended retail industry, providing thought leadership and advice on navigating these challenges for specific companies and the industry at large. We do this by:

• Identifying information that helps retailers and their trading partners to build more efficient and profitable businesses;

• Identifying industry issues that solutions providers must address to be relevant in the extended retail industry;

• Providing insight and analysis about a broad spectrum of issues and trends in the Extended Retail Industry.

Copyright© 2012 by Retail Systems Research LLC • All rights reserved.

No part of the contents of this document may be reproduced or transmitted in any form or by any means without the permission of the publisher. Contact [email protected] for more information.

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