[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2016\/07\/18\/retail-customer-engagement-data\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2016\/07\/18\/retail-customer-engagement-data\/","headline":"When the results provide benefit, customers will race to share data","name":"When the results provide benefit, customers will race to share data","description":"Jogging is one of the most popular leisure-time activities with one\u00a0concern frequently voiced among the running fraternity: \u201cAre my running shoes the right ones for me?\u201d Now, the latest technologies are bringing customers and manufacturers closer together and taking the customer experience to a new level. The big question is, do customers stand to gain […]","datePublished":"2016-07-18","dateModified":"2021-09-07","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/from-the-editor\/#Person","name":"Guest Author","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/from-the-editor\/","identifier":94,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/c698be6a776e35914e3028986f2457b010d30e43e02febc549a01bb5b64a123b?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c698be6a776e35914e3028986f2457b010d30e43e02febc549a01bb5b64a123b?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2016\/07\/thumbnail-12d4ebcbe16cefc58c17c0650151ed5f-2.jpeg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2016\/07\/thumbnail-12d4ebcbe16cefc58c17c0650151ed5f-2.jpeg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2016\/07\/18\/retail-customer-engagement-data\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/","name":"Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Commerce","http:\/\/www.wikidata.org\/entity\/Q26643"]},"Retail Trends, Data, News"],"wordCount":974,"keywords":["Customer Engagement","Data","Digital Transformation","Marketing","Retail"],"articleBody":"Jogging is one of the most popular leisure-time activities with one\u00a0concern frequently voiced among the running fraternity: \u201cAre my running shoes the right ones for me?\u201dNow, the latest technologies are bringing customers and manufacturers closer together and taking the customer experience to a new level. The big question is, do customers stand to gain as much from greater customer focus as the manufacturers will?Millions of joggers in the U.S. run regularly. Some run to relax, some to stay fit, and others are out chasing ambitious sporting goals. Running is an activity that appeals to people of all ages. You can run in winter and summer; on flat or mountainous terrain; on tarmac or in the forest; come wind, rain, or shine.Yet whatever their age or running preferences, all joggers must pay close attention to their footwear. That means making sure their shoes don\u2019t pinch or rub and checking that they are a good match for their running style and profile. Traditionally, the first port of call for all running-related questions is a specialty running store. But technology is now paving the way for other forms of communication and opening up new dimensions in customer-relationship management.Valuable information for runnersSeveral major sports shoe manufacturers have begun integrating sensors with a unique ID into their products. So when a customer buys a pair of running shoes, the store assistant can take that person\u2019s details \u2014 such as name, weight, height, and shoe size \u2014 and create a customer profile then link it to the ID for the shoes.If the customer uses the manufacturer\u2019s running app, the sensors will transmit information about how the shoes are used and what distance they have covered, according to R\u00fcbsam. This capability has other potential uses too. Shoe sensors could provide information about whether shoe soles are wearing down evenly \u2013 or whether runners are placing more weight on the inner or outer side of their feet, causing one side of the shoe to wear down faster than the other.The customer could pass this information on to a doctor or orthopedic specialist, who could then use it to assess whether the patient has a foot malposition that could be corrected easily with an orthopedic insole. That would be a contribution to safeguarding people\u2019s future health.Valuable information for manufacturersNaturally, the sensors can capture all kinds of other data too, such as information about whether the customer prefers to run on forest trails, cinder tracks, or asphalt; about whether he or she runs regularly or occasionally, slowly or fast; about whether the shoes were purchased in-store, online, or from a mobile device.By linking a product with an identified customer and his or her usage behavior, manufacturers can generate an extended customer profile of previously unimaginable value. This profile is not only valuable in marketing and sales: What channel does the customer favor when searching for personalized offers? Where might cross- or up-selling be successful? Where is it worth advertising a new product?\u00a0The information in the customer profile is also crucial for product development: Who buys my shoes? Older runners or younger ones? Men or women? Leisure-time joggers or marathon runners?This kind of insight is vital in helping manufacturers choose the right look for their products. Companies like sportswear and equipment manufacturer ASICS have used information like this to improve their conversion rate for marketing campaigns by 15% and cut customer-acquisition costs by 8%.From the business perspective, these are real, quantifiable benefits. Benefits which, though not so easy to put a figure on, ultimately filter through to customers, too \u2012 in the form of new, improved, better-fitting products.Explorative data analysis shaping the customer experienceNevertheless, the potential offered by digital technologies is far from exhausted. The running-shoe example is still very closely aligned to the functions of conventional\u00a0customer relationship management\u00a0\u00a0(CRM), albeit with an added, in-depth Internet of Things (IoT) scenario. Because its purpose is to address existing customers.Strictly speaking the term \u201ccustomer relationship management\u201d does not cover the latest approaches to creating an improved \u201ccustomer experience\u201d or, better, \u201ccustomer engagement.\u201d Because the latter are increasingly concerned with creating initially anonymous customer profiles, rapidly enriching them with knowledge about real customers, identifying those customers, and addressing them directly.The central question, in a nutshell, is how companies can put the data at their disposal to the best possible use. When it comes to laying the technical foundation for the digital transformation that is required to do this, companies need an IT infrastructure that allows them to eliminate data silos.They need to be able to analyze both structured and unstructured data and make decisions based on real-time information \u2012 even where mass data is involved. Innovative, integrated functions for business intelligence, planning, and\u00a0predictive analytics\u00a0round off the requirements for efficient explorative data analysis.Data collection is only acceptable if it benefits the customerThe digital transformation will see the role of the chief marketing officer (CMO) change dramatically. \u201cDigital\u201d CMOs will have access to personalized customer data that they must use as the framework for their marketing strategies.In addition to their existing tasks, CMOs will increasingly function \u00a0as “customer experience managers,” whose job is to focus on analyzing customer data and on integrating all touch points along the\u00a0customer journey\u00a0\u2013 including downstream delivery, service, and billing processes in the various lines of business.The CMO of tomorrow must also be capable of communicating seamlessly with individually identified customers across all channels and of placing them at the center of their efforts.\u00a0Customers are more than willing to disclose their own data if they know there\u2019s something in it for them.  Real-time insights.Across all touchpoints.Yes. For real.Get the details\u00a0HERE.This story originally appeared on SAP News Center\u00a0and is republished here with permission."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2016","item":"https:\/\/www.the-future-of-commerce.com\/2016\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"07","item":"https:\/\/www.the-future-of-commerce.com\/2016\/\/07\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"18","item":"https:\/\/www.the-future-of-commerce.com\/2016\/\/07\/\/18\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"When the results provide benefit, customers will race to share data","item":"https:\/\/www.the-future-of-commerce.com\/2016\/07\/18\/retail-customer-engagement-data\/#breadcrumbitem"}]}]