Consumers are in control. Armed with information, experience, and mobile devices they have been trained to expect a personalized shopping experience. The rapid adoption of new technology, has led to this expectation from all brands, irrespective of B2B or B2C channels.
David Silverman, senior director of U.S. Corporates at Fitch Ratings, wrote in late 2016 that retailers that find themselves left behind by technology and an inability to provide a world-class customer experience will become market share “donors” to those retailers that have been able to adapt. “The dividing line between best-in-class retailers and market share donors is increasingly going to be determined by which retailers can cater to the evolving landscape,” wrote Silverman. “Those that find success have invested in the omnichannel model and have differentiated their products and customer service to draw customers in”.
Retailers recognize the importance of the customer experience. PwC’s 2017 Total Retail survey found 31 percent of retailers are planning to increase their investments in improving customer systems to improve their single view of the customer. This is the biggest barrier in providing a single view of a customer: siloed information housed in various systems.
PwC called the 2017 retail scene, “one of the most competitive environments in decades.” The firm uncovered the top challenges for retailers in providing an omnichannel experience for their customers:
30% budget constraints
21% too many legacy systems to change
20% difficult to integrate existing systems
10% lack of expertise
(Source: 2017 PwC & SAP Retailer Survey)
Complicated systems inhibit an intuitive customer experience. Mobile phones have blurred the lines between physical and online; the distinction for consumers is irrelevant. Retailers need a platform that merges the two into a cohesive system. RDA calls that connected commerce.
B2B and B2C brands are both adapting to this new normal. McKinsey & Company found in an August 2017 survey that, industry sector is not a factor in buyers’ decisions to turn to a digital channel rather than a traditional one when deciding what to buy. The research further found that the way B2B buyers interact in the online consumer world has influenced their expectations. B2B buyers now want an immediate response; ease of use; and accurate information that is highly relevant to their unique needs, wherever they are in the customer decision journey.
The RDA team helps leading brands create customer experiences that drive revenue.
We help brands rise above the noise by delighting their consumers. This requires deep insights into a single consumer’s buying behavior across all B2B and B2C channels. People want to buy from brands that care about them and know them. RDA accomplishes this by bringing marketing and cutting edge technology together.
RDA has three product partners to help retail brands outpace the competition.
Sitecore is a customer experience management company that provides web content management and multichannel marketing automation software integrated with B2C commerce.
InsiteCommerce is a flexible eCommerce platform architected for B2B manufacturers and distributors.
Ucommerce is a .NET based e-commerce platform, developed for Umbraco and Sitecore.
We collaborate closely to understand your business, ask the right questions, and design and implement functional, integrated technology solutions that enhance the customer experience and drive revenue and margin growth.