Key Strategies for Real-Time Omnichannel Measurement
The rapid evolution of mobile technology, social media, and AI has created opportunities for brands to engage with customers across various channels and business models. Yet many companies face constraints due to an onslaught of multi-channel data and limited IT budgets and tech resources, making channel-specific strategies with real-time measurement essential.
“It's an increasingly connected world. You have to be the customer's ecosystem. That's why I've actually moved on from the omnichannel word, and I call it connected commerce,” said Gurmeet Singh, chief digital and data officer, ex-Gap and 7-Eleven, during a recent Consumer Goods Sales & Marketing Summit session presented by Infosys Equinox.
Balance Is Key When Aligning Measurement With Goals
At the heart is the modern customer who engages with brands across multiple channels — websites, apps, social media, and even the metaverse. When each customer has embodied a unique "omnichannel persona," how can CPGs track trends and measure success?
Singh promoted a structured approach to e-commerce by categorizing customer interactions through the buying funnel. He emphasized maintaining a technically robust online presence to eliminate barriers to engagement, which he refers to as "bad hygiene."
Measurement should also be purpose-driven, ensuring KPIs align with specific business objectives. There is great value in qualitative insights, like customer surveys, to inform and guide strategic decisions.
Perhaps less structured are measurements of social interactions. When it comes to risk-taking, Conair CIO Jon Harding recognized the need to invest in new initiatives despite uncertain outcomes.
TikTok Shop, for example, exposed Conair to Gen-Z consumers. Conair tracks at least one or two KPIs to assess revenue opportunities and customer experience improvements.
Singh agreed, stating that while measurement is important, it has to be both purpose-driven and aligned with what the company is looking to solve. There must be balance, therefore, when managing tech finances and debt, balancing exploring new technologies with meeting financial targets.
He suggested aligning financial decisions with business strategy and prioritizing compliance needs to effectively manage tech debt. Additionally, he encouraged strategic budget allocations rather than arbitrary cuts, which can jeopardize important projects.
Forming Channel-Specific Strategies
Consumers now expect a seamless experience throughout the pre- and post-purchase phases, requiring various fulfillment options and order transparency. Brand loyalty depends on delivering a cohesive omnichannel experience as new technologies emerge.
According to Singh, companies must evaluate their core assets — such as locations, products, and channel partnerships — to maximize e-commerce potential.
At 7-Eleven, for example, the company treated stores as decentralized warehouses, enabling inventory accessibility via the cloud. This adaptability allows for rapid scaling in local delivery services, leveraging trends in platforms like DoorDash. Understanding consumer behavior and integrating advanced technologies allows companies to drive substantial ROI.
Singh also believes that retailers should shift their perspective on major e-commerce platforms like Amazon from competition to coopetition, recognizing these platforms serve as both partners and competitors. Through this, businesses can recognize their critical role in consumer engagement while creating opportunities for strategic collaboration.
At Conair, said Harding, the company has launched a dropshipping initiative with partners like Wayfair, where orders are fulfilled directly from Conair's distribution center but labeled as coming from the retailer.
The company is also enhancing its direct-to-consumer channels. Over the past five years, significant IT investments have focused on strengthening its omnichannel capabilities, ensuring seamless integration across platforms.
This has included fulfilling the constant demand for fresh images and copy. Harding said leveraging AI is crucial for optimizing the "digital content factory" by automating adjustments and back-office operations. Using such tools to streamline customer service drives efficiency and innovation.
“Technology never comes first," emphasized Singh. "The technology makes it possible, but the culture has to be customer-first."
