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Monday, 30 June 2014

Case Study: Multiply Revenue as well as Customer Base

The Case:
This is a project which can be very well used by any indstry to Multiply their revenue, increase the customer base as well as multiply loyal customer base with increased customer satisfaction ratio.

The Company is a multi-national sports and lifestyle shoes manufacturer and retailer which has stores spread across Asia and Europe. In its 15 years of existence, Company had created a loyal customer base primarily in the form of trendy teens and middle-aged (25-40 years old) men and women.
While the footwear was mid-range to premium, the growth was never stumped for the first 14 years. Infact, they recorded a growth of 12% for the 5 year period from 2007-2012.

Prior to 2005, their only sales channel was in the form of company owned physical stores spread across Asia. Then in 2005, they expanded their presence through the franchise route to Europe. They also sell through multi-brand retail outlets and also have tie-ups with online retailers.
In 2008, they started their website followed by a mobile app in March 2013. While the web platform served as an end-to-end channel allowing potential customers to scan through the variety of footwear, make a choice and complete the order by making the payment, the mobile app was essentially a scanning platform with no functionality to complete the order.

In early 2013, seeing the boom of social media as a channel, they quickly designed a social media campaign where people could dedicate a love message to their upset counterparts on the Facebook page of Company.
Though the campaign was highly successful and widely appreciated in terms of its popularity, it did not translate to enhanced sales. Their social presence was restricted to this campaign.

In November 2013, the CEO and founder of the Company realized the need to use ‘Digital’ intelligently to achieve the business strategy and as a result, an expert in Digital Strategy and implementation was brought in.

The case study is to help the Company to digitally transform using below 3 point strategy:
Design a digital strategy leveraging the digital channels and assets to maximize the revenue for the Company.
How can the Company utilize technology to leverage the data from all channels to enhance the customer experience?
The technology architecture to support the digital strategy
The Solution:
Design a digital strategy leveraging the digital channels and assets to maximize the revenue for the Company.
Develop fully functional mobile and website apps
  • Design web and mobile app with new Content and Layout for attracting and engaging target customers for all mobile Operating Systems
  • All engagements to have facility to place Orders and make payments from apps
Promote apps on social media to target audience and loyal customers
  • Reach out on all social media platform and promote new app with attractive contests to attract target audience
  • Specially reach out to existing customers for expanding Loyal customer base
Track apps usage, user experience and feedback at stores
  • Create campaigns/ surveys on website and apps, track usage trends from the campaigns and track user satisfaction feedback from users at stores as well as on social media
Combine all information into “Data Lake” and top It up with Actionable Analytics Dashboard for maximizing revenue
  • Create Data Lake with all web and apps info, user feedback, carts, orders and all sources
  • Provide decision makers with Actionable Dashboards using Advanced Analytics
How can the Company utilize technology to leverage the data from all channels to enhance the customer experience?
Data from all channels and sources into Data Lake
  • Pull all data from apps and website, usage tracking, orders, carts and payments into a single destination Data Lake
  • The Data Lake is ready to use for Advanced Analytics to create dashboards using historical data from social media, payments and campaigns
Actionable dashboards on top of Data Lake
  • The information from Data Lake will be put into dashboards that will highlight User experience related points on negative as well as positive scale for all channels
  • Action items can be placed from the dashboards for channel managers so that User experience can be iteratively enhanced at all levels and channels
  • The dashboards and reports using information from Data Lake can also be effectively used to convey action items for maximizing revenue
Immediate use, effectiveness tracking and iterative enhancement
  • Historical data in Data Lake will enable Dashboards to be useful from day one
  • With incremental data and action items tracking, the solution will get further enhanced iteratively resulting in effective tracking of returns on investment for Analytics
The technology architecture to support the digital strategy
Cloud infrastructure for creating Data Lake
  • Due to presence of various data sources as well as due to huge amount of data for the Data Lake, using a scalable cloud infrastructure for Data Lake creation and Storage is required
    • Integration Engine – tools like Informatica, Talend or Pentaho
    • Cloud Engine – PaaS such as Heroku, Google App Engine or Redhat Openshift
    • Storage – Google BigQuery, Google Storage, AWS S3 or AWS Redshift
Advanced Data Analytics tools with Statistical engine
  • With need for user experience enhancement, sentiment analysis needs to be a part of Analytics solution on Data Lake
    • Statistical engine – R language and engine
    • Scripting engine – Python
  • Other advanced analytics techniques with ad-hoc data exploration feature on all devices need to be incorporated for suggesting immediate action items for maximizing revenue and improving user experience
    • Analytics and presentation engine – Qlikview, Tableau or Pentaho BI