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How to use your loyalty program to enhance the customer experience in-store

There is no doubt that loyalty programs can bring great benefits to customers and businesses alike. In fact, 81 percent of consumers say that loyalty programs make them more likely to continue doing business with brands, while 66 percent modify their spending to maximize loyalty benefits, according to Bond and Visa’s Loyalty Report. As a rich source of data and personalized engagement, loyalty programs also bring great opportunities to create a superior customer experience. But so far this potential is largely untapped: only 22 percent of loyalty program members currently think they get a better experience than non-members. Using your loyalty program to create a unique customer experience in-store is a great way to engage on a personal level and bring people closer to your brand. Here are our tips on how you can use your loyalty program to create a unique customer experience in-store. 1. Offer personalized rewards Knowing who your customer is, and creating rewards especially for them, can be a great way to enhance the in-store experience. Two key ingredients make this possible: data and the right technology. You already have the data, and a customer who has your loyalty app will have given you permission to use it. To get the best from that data you need to be able to analyze it, and create insightful offers and identify opportunities for personalized recommendations that can increase sales – all in real time. Putting the analytical power of artificial intelligence to work through your loyalty app can empower you to create a rich, personalized in-store experience. To personalize your loyalty program rewards in-store: Analyze the customer’s interactions on all your touch points – online, mobile, kiosk, social media and face-to-face – to create in-store rewards that match their interests and shopping history. Use a product recommendation engine to suggest ideas based on the customer’s loyalty program data. For example, you could recommend accessories to complement the suit they just bought, or invite them to look at a new collection that includes their favorite colorways. With the customer’s permission, use GPS with their mobile loyalty app to identify them when they’re close to the store. Then staff can be ready to greet them by name and give them personalized, up-to-date offers and advice. You can also give customers a great reason to come into the store by having in-store rewards and offers pop up on their loyalty app when they’re close by. 2. Make the customer feel privileged Making loyalty program members feel like part of an elite group will really enhance the in-store experience. It can be as simple as putting them at the head of the queue for the latest cool products or giving them members-only privileges in the store. To set your loyalty program members apart from other customers: Invite loyalty program members to collect free samples of the latest products in-store. Offer members the first chance to buy hot new products before they go on general sale. Provide members-only special offers and discounts throughout the store. Create an exclusive area in the store where your loyalty program members can relax and enjoy a free drink. Offer higher-value, exclusive rewards for the members who spend the most or shop most regularly in your stores. 3. Create special events Putting on an event especially for loyal customers is guaranteed to make them feel special. A lot of retailers invite customers to share information about their hobbies and interest, and you can use this data to get groups of like-minded loyalty program members together in your store. To create events that make loyalty program members feel truly special: Invite members to exclusive new-season previews of their favorite brands. Hold a party in-store especially for loyalty program members. Include drinks and nibbles to relax your guests and give them personalized discounts, a treat (for example, invite your loyal customers who are make-up fans and give them a stylist makeover) or made-for-the-occasion gifts that are not available for sale. Invite loyalty program members to meet the experts and learn about the subjects that interest them. It could be a top chef who will demonstrate cooking techniques, a fashion designer with exclusive insights on the latest trends, or an expert who can answer questions about pet care – anything that will captivate your loyalty program members. Invite the customer to the store for special treatment to mark personal events like their birthday, wedding, or the anniversary of their loyalty club membership. Tie it all together Your loyalty program, combined with the physical space of your store, holds untold opportunities to let your best customers know how much they mean to you. In order to give them a VIP experience, though, the right technology is necessary. A system that ties together information from all touchpoints (loyalty app, Point of Sale, CRM) enables you to manage everything – from offers, to personalized recommendations, to special events – seamlessly in the same platform gives you a unified view of your customer and all your interactions is a fundamental tool in the journey to being customer-centric. When all information is stored in the same place, you can easily access and analyze your customer data, and use the insights – alongside some creative thinking – to create an in-store experience that is personal, engaging and makes your best customers feel truly valued.

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What retail CEOs need to know to lead their business into the future

According to The DNA of the Future Retail CEO from the World Retail Congress, the top two current and future technical skills for retail CEOs are: Understanding of digital commerce and omni-channel Data/insight driven approach The expert panel went on to say that the future retail CEO needs to be data driven “in the extreme”. Meanwhile, Korn Ferry Institute’s study of UK retail CEOs led them to say that the new retail CEO needs to be experienced with both budget and strategy. That is a demanding list of attributes for anyone. Luckily, CEOs are not alone in managing their retail companies, no matter how big or small those companies may be. The right technology, along with the right people, can make the difference between shooting in the dark and creating a company strategy that is based on the most up-to-date and accurate information possible for unified commerce. That is right, retail technology changes quickly. Keeping up with change and coping with it is one attribute of a leader-type CEO, according to research at Harvard Business School. More importantly, the researchers at Harvard found that being a leader-type CEO is linked with better outcomes for the company. But how can one person stay on top of the newest technological, financial, and retail trends? Here are some tips. 1) Have unified commerce technology for all your sales channels Unified commerce is a step beyond omni-channel in that it brings together various, integrated systems into one platform. No matter what your company sells and where it sells it, your software should be a single-platform solution for e-commerce, m-commerce, and in-person sales. Pieced together systems, no matter how integrated, cost more money, and lead to lags in getting the data – or even to data not matching across the various channels. That means that you are missing out on important insights needed to make crucial strategic decisions. A unified system gives you the data you need quickly and easily so you can make long-term and day-to-day business decisions. 2) Have unified commerce technology for your core business functions Unified commerce is not just about retail channels. A truly unified commerce system allows the front end and back end to talk seamlessly together. This means that tracking financials along with inventory, sales, customer satisfaction, and all other moving pieces of retail is possible in one system. What seems almost impossible if the company is running on different ERP, POS, and inventory systems, becomes smooth and consistent with the right technology. Data can flow freely from one area to the other. With the right business intelligence tools, you can make the connections between various aspects of your company to make better business decisions. 3) Set the goals for your company, but be able to cope with change Retail changes quickly, but a retail leader can’t run after every shift that happens in the industry. Richard Branson, who got his start in retail, said in a recent interview with Freakonomics Radio that it is important for the head of the company to set the vision. At the same time, Branson has pivoted from retail music sales, to mobile technology, to airlines, so he understands the importance of changing course when needed. In order to change course, you first need to know where you are. Perhaps the change is to launch a series of pop-up stores. You then need to know how this kind of project fits with the overall vision of the company before jumping on the trend. At the same time, you can’t turn your back on a change that will help your business keep up with the modern pace of the industry. 4) Know how your retail business is doing and where it is going Antoine de Saint-Exupéry famously said that “a goal without a plan is just a wish.” A strategic retail CEO doesn’t make wishes for the company, he or she sets goals and has a plan to track their success. If the retail goal is to sell more products online, the data-driven CEO needs to know where sales were before setting the goal, what data to monitor and how to track that data to know if the goal is being met. This is where key performance indicators, or KPIs, come in. KPIs are exactly the measures that the retail CEO of today and the future needs to track how the company is doing financially and beyond. A unified commerce platform helps you collect and maintain in one place all the KPIs you need to track. It also enables you to easily split them between channels, product types and even individual products, so you get the level of detail you want for your decisions. In The DNA of the Future Retail CEO, only 31% of the retail experts asked said that the retail CEO of the future will have the technical skills needed for unified commerce and to make data-driven decisions. Prove them wrong! Don’t be left behind as retail moves into the future. Be the strategic leader your company needs, with the right systems and data to support the decisions you make for your company

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The Industry Solution for Hi-Tech and Electronics Manufacturing

Today’s global customers are demanding more configure-to-order, make-to-order, and assemble-to-order products. The modern, agile industrial manufacturer must be responsive and able to deliver with the highest quality and timeliness. The fluctuating demand leads to significant challenges in managing the internal supply chain, coordinating the extended vendor ecosystem, controlling costs, ensuring quality, tracking production, and optimizing inventory levels.   With today’s ever-changing financial and environmental regulations, shrinking product life cycles, and global sourcing challenges, Dynamics 365 for Operations helps you gain visibility across the entire value chain, empowering you to make more efficient and timely decisions. Trident’s implementation processes reduce time and risk so you can rapidly build an adaptive business network, seize new revenue streams, and respond to changing market conditions regardless of your company’s size. Trident’s high-tech industry solution is a set of software and services that automate and streamline the following business processes: • Materials management and demand planning • Purchasing & Inventory Management • Multi-Country, Multi Product, Multi-Level Manufacturing • Multinational Financial accounting • Supply chain planning and Logistics & Warehousing • Service management and customer support • CRM/sales • Engineering Change Management Materials Management and Demand Planning In Hi-Tech Industries, conditions in materials management and demand planning vary rapidly. New requirements need to be determined constantly; order processes and production planning have to be updated. Manufacturing operations need to respond quickly and without too much expense. The higher the product and BOM complexity, the more important a comprehensive, automatic MRP planning process becomes. Trident’s Hi-Tech Solution provides powerful MRP planning configurations, including ordering and order data, shopping and sales planning and stochastic processes. Purchasing & Inventory Management Trident’s Hi-Tech helps you in procurement planning considering minimum order quantities, lot sizes, purchase prices and current stock levels. Purchase planning based on planned and historical consumption levels Blanket orders, supplier inquiries & bonus management Purchasing agreements with suppliers on price, quantity and delivery time for optimum supplier selection Faulty parts management and backlog information with activity messages to avoid delivery delays Supplier connection via the Enterprise Portal or other common industry standards Multi Country, Multi Product, Multi-Level Manufacturing Trident’s Hi-Tech gives you an overview of delivery dates, component availability, production capacities and capacities of external manufacturers (make or buy) and be able to plan accordingly. Graphical view of production resources and production orders Integrated materials and capacity planning as well as production priorities for managing rush orders External production with the provision Extensive production papers with barcodes, label handling for batches and serial numbers Integration of time recording, production data acquisition and machine data logging Visualisation of QA and QM processes Various process variants can be configured such as Made to Order (MTO), Make to Stock (MTS), and more (BTO, ATP…) Variant and product configurator for building custom products (also via the Enterprise Portal on the Internet) Financial Accounting Financial management is the core of Microsoft Dynamics 365 Hi-Tech. Full integration in the other areas of the application allows the collection and analysis of financial data in real time. With extensive country- and region-specific features, the solution fulfils the local financial requirements for 36 countries. Financial accounting, financial planning and cash flow management on client company code, cost centre, cost object and up to seven other dimensions Automatic accrual for consignment stock, bonus agreements and goods. Automatic “work in process” (WIP) tracking for productions and projects Cost and performance accounting integrated into production, project, time recording and production/machine data acquisition Stock valuation Engineering Change Management Research and development (R&D) are the basis for the success of many medium-sized high-tech companies. Efficient quality, time and budget management for R&D processes often decide the future success of a company. Different types of projects and the integration of customers and suppliers into the processes require a flexible system for managing and controlling project activities. The product module allows you to manage and monitor internal as well as contract research projects.

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