January 14, 2016

How You Benefit From Process, Trust, And Knowledge In The $335 Billion Shared Economy

January 14, 2016/ Randa Green

This is the third and final post of a series on the shared economy, how it is similar to outsourcing, what you need to succeed, and finally my perspectives.

In the first post, I shared an intro on how the shared economy is an extension of outsourcing. Rather than outsource anything that is not your core business, the shared economy is essentially outsourcing your core business - you better do it well - or you will fail.

In the second post, I shared three things your business needs to do well to master the execution of your sharing or outsource strategy.

Now on to my personal story for how process, trust, and knowledge are applied from three different perspectives; as a business operations leader, as a member of a shared community, and as a consumer.

Business Operations Perspective

By the time we were ready to outsource our installs at Geckotech, we had established our baseline process internally. Even though the team was consistent with the defined process, the remote hands would have hiccups. Our relationship was with one vendor that managed the hundreds and thousands of partner technicians across the US.

After each install, we refined our checklist and process so we could avoid the issue in the future. As you refine your process to outsource, I suggest to build continual improvement into every process, start simple, and expect to change consistently.

We required initials to confirm areas were reviewed, provided example pictures for technicians to recreate, and NA where steps were not applicable versus leaving them blank ensured the content was not overlooked.

After we were acquired by M5 Networks, there were a lot more people to understand the process and relationship with our outsourced vendor. We went through a few more hiccups of knowledge and trust gaps.

As a solution, I planned trips to the vendor site with cross functional teams to help transfer knowledge and build trust. We produced a standard guide of expectations for each team. It was a success - The outcome was improved process, trust, and knowledge!

Shared Platform

I participate in a Shared clothing program, Closet Collective. The concept is similar to Rent The Runway or Stitch Fix; however, Closet Collective does not own the merchandise. The lenders open specific items of their closet to borrowers of the monthly service.

I started out with 10 dresses from my closet, later added 10 more items, and will continue to build my virtual closet to share with others. In fact, the top lender makes $10K per year renting out her closet.

Closet Collective has a simple process for both lenders and borrowers. The process is clearly defined from initial setup, profile and clothing posts, through monthly lending - all confirmed through thoughtful emails for each interaction.

During the initial setup, Closet Collective made a personal contact with me to establish the necessary trust required for me to feel comfortable with the process of lending my clothes to strangers. They build upon the trust monthly with consistent processes with each of my monthly rentals.

Closet Collective’s model requires very minimal training - hence a perfect opportunity for sharing or on-demand economy. I simply need to know how to print a label, put a dress in a bag, add my thank you to the pre-provided card, and drop off at the nearest USPS.

Customer Perspective

I recently ordered five different leather stickers from Anya Hindmarch from the website Farfetch. As I read, Farfetch is a platform that sells products that are sourced by independent shops around the world.

While I don’t know the back end of their systems, I can only assume they have their processes and appropriate knowledge training in place from my first experience.

By luck, I received all of them on the same day. Kudos if that was coordinated as they were all out of country. Every shipment came in a Farfetch branded box, with a Farfetch branded envelope, and a unique letter from the shop itself - which added a nice personal touch of their shop.

What companies do you think have process, trust, and knowledge nailed? Do you agree that each are important to support a consistent customer experience?

I would love to hear your input. Please give this post a thumbs up or share if you enjoyed the content.

Yours Truly,

The Pukka Panda

October 07, 2015

3 Trends In Retail Customer Engagement

October 07, 2015/ Randa Green

As a consumer, we have access to everything on demand, with a touch of our fingertips. Each channel plays an important part of the overall customer journey. Even though we can get same day delivery by Amazon or the luxury brand Net-A-Porter, studies show that 71% of respondents would prefer to shop in a physical Amazon store vs. online.

While I am passionate about the omni-channel experience and how brands can maintain consistency across channels, I will focus on how brands can best engage when customers choose to go in the store.

Customer Engagement

Retail is no different than the standard business conference, Bar Mitzvah, holiday party, or wedding. We have the desire to interact with friends, meet new people, and share those experiences with our groups of ‘friends’ and ‘networks’ on Facebook and LinkedIn. We are busy bees in a world of constant movement that crave the opportunity to relax and be at ease with an effortless experience.

Here are three trends in retail that are your next big tickets to success when it comes to in-person customer engagement.

Social

Photo-Booth’s Create A Memorable Experience

Connect with your customers by providing them with a way to create memories with friends. At parties, there are photo booths for guests to have a memento from the event - select stores provide the same opportunity to share your experience across social media. Whether it is at Steve Madden with my dog, or being photo bombed by a group of girls at Uniqlo in NYC during the St. Patrick’s day parade, I will remember those experiences brands. Retail shops with less budget and space for bulky photo booths can create the same social atmosphere with displays curated specifically for selfies - free marketing at your service.

In-Store Collaborations Are A Win For All

Another great way that retail stores encourage social interaction is through events and collaborations. I recall a time at Desigual when they had a makeup artist, mini gift bags, drinks , a DJ, and a catwalk to showcase looks put together by the stylists. I am confident that Saturday afternoon was the most I ever spent on one visit to Desigual - and as a bonus had my makeup professionally done for the evening.

Not only does the store generate a lot of foot traffic by the signs outside, it keeps customers in the store longer to spend more money, and is a fantastic way to promote other brands, stylists, and artists. Customers who were acquired through word-of-mouth have a 37 percent higher retention rate. (McKinsey) Think about how you will develop your influencer marketing platform.

Neighborhood Events Support The Community

Finally, make it even more social by gathering other stores in the area. Alice & Olivia was kind to provide me with two complimentary tickets for a kick-off party for Meat Packing Open Market . It was a concert with food and drinks for a weekend of in-store events and discounts from retail stores and restaurants in the area. Who doesn’t love an opportunity to invite a friend and share a fun evening!

Technology

Smart Target Discounts Save Customer Time

When you attend industry conferences, you often have access to an app designed specifically to simplify the attendees experience and avoid carrying schedules and paper ads that end up in the trash. The same concept exists at different levels for in-store shopping experiences from basic to smart and targeted discounts. While clipping coupons from the Sunday paper is one of my favorite past times, it is delightful that technology is here to help us along the shopping journey. We will see even more with emerging technologies such as iBeacons and near-field communication.

Interactive Displays Educate Customers

The shift in e-commerce brands opening physical stores or ‘Clicks to Bricks’ brands are leading the path with the most efficient ways to integrate their back-office inventory systems, CRM, and more into the showroom like experience. As stores remove paper displays and tear down signs, they open valuable space for LCD monitors and iPads that complement the back-office systems and create an interactive method to engage shoppers. Stores can be creative with uses for those devices - for example, display information on the monitor based on interactive hangers (IH), show latest Pinterest pins of favorites for social proof, integrate with your customer support via web video or chat, or simply let them browse your website.

Mobile Checkout Completes Customer Experience

Have you ever wanted to purchase a product from a store only to find the line so long that you leave? You save a few bucks at the expense of a poor experience at the store. You may or may not return, to purchase the product or anytime, based on the loyalty of the particular brand. Apple and other brands that have mobile kiosks make it effortless to complete your purchase. For some established brands, integration to back-office systems may be an issue - expect that to change in the near future. The endless amounts of apps for devices do make it easy for new brands to start pure mobile - in this case, they have the advantage.

Food & Drink

A Restaurant or Cafe Creates A More Social Atmosphere

Most parties are centered around the food and drink. Obviously, food and drinks are a great way to encourage customers to stick around the store longer to shop. While restaurants in stores are not a new thing, they are popping up more frequently. It is a great way to lure people into the store. I recently chose a new morning stop for my bagel with cream cheese and jelly (the cafe at Urban Outfitters in Herald Square). I was pleasantly surprised by the tasty fresh raspberry jam vs. the type at the cafe just one block down Broadway. After two days of breakfast, it was time to try the lunch - only to find myself casually looking in the store when the line was too long. I held back from the photo booth - at least during that visit!

Everyone Loves Free Stuff

Opening a full restaurant or cafe is a big hit to the bottom line for most small shops. Even for large retail chains, you may only see them in the hotspot locations like 5th avenue in NYC or Magnificent Mile in Chicago. Shops that are small or have a tight budget can choose to provide free bites and drinks to guests on select days - just remember to be consistent with clients and days of the week. You bet customers will shop while they sip a free drink.

These were just a few examples of how you can engage customers through social, technology, and food. Think about how you can include them into your plans. Be creative, and most of all, be authentic and have fun along the way. In future posts, I will dig deeper into these topics - with technology being the primary focus.

I would love to hear your comments. As a customer, what are your favorite trends you see in retail stores?

Yours Truly,

The Pukka Panda

September 22, 2015

Be Consistent For Smooth Sailing Customer Experience

September 22, 2015/ Randa Green

In my last post, I shared a few stories about my first experiences. Not only do I love to try new places for the first time, learn new subjects, challenge myself with activities like the Tough Mudder - it is great to experience new products and services.

As a business leader, you are the champion for a great customer experience!

Whether your first interaction with a customer is face-to-face, through technology, or as a reference - it is your first and best opportunity to connect. Once you connect, you are positioned to convert them as a new customer, and finally keep providing them a great experience - just like you did the first time!

In my experience as a consumer and customer service operations leader, consistency is a key factor to consider when you create your business strategy, develop processes, and choose technologies. Here is a story that truly opened my eyes to the importance of consistency.

The Story of Consistency

Starts with a great first experience. To Connect, Convert,

It all started with the first visit and a hand-written thank you note. I was hooked as a loyal customer for 6+ years until I moved from Chicago to NYC. Rashida is not only an influential female entrepreneur that I look up to, she is a friend. We both have a passion for customer experience and would often share business stories - even if beauty and hosted VoIP are different industries, human behavior and requirements are the same.

And Keep Your Customers!

There was something about walking into her studio that was refreshing. The entire experience was so effortless. As a subscription service, there was no hassle with payment upon arrival. While you waited; you sat in comfortable sofa and chairs, enjoyed your favorite mini soda, a variety of candy options, and movies with Audrey Hepburn to match the posters of the icon on the walls.

One day, she shared her perspective of consistency in customer experience with me. We subconsciously expect to receive consistent experiences in all of our interactions. As she explained it to me, I easily connected the dots of consistency in my visits with her over the years. One simple example was how she mixed the same 10 songs into the music playlists.

It can be the littlest detail like your hair dresser not using a familiar product or tool with no explanation. While it may not stop you from a return visit, it will likely leave a void as if something is missing. Ever since this conversation with Rashida, I always notice the impact of consistency as a consumer and business leader. I am so excited that Rashida is sharing her expertise to help others build brand identity strategy.

Be Consistent

In the journey to connect, convert, and keep loyal customers - here are three key areas of consistency to consider. Establish initial trust during the first interaction and continue to provide the same across all channels, to each customer, and through the entire journey.

Across All Communication Channels

Customers want a choice in how they connect with your business. Be consistent in your communications across all channels. If you have different departments managing social media feeds than handling email and phone calls, using the same knowledge base to provide responses to customers will help them be consistent. Invest in tools to keep those teams aware of different channel interactions. Salesforce is just one option. Don’t blow a great first impression from the amazing store personality with lack of response via email or Twitter.

When Dealing With Different Customers

Customers share stories about their experiences, especially over social media. With so many choices available, recommendations from trusted sources are always welcome as a consumer - and for your business. Influencers… Document best practices for consistent interaction when customers deal with different roles across the organization. No one wants to hear praises about an experience with an amazing salesperson only to be shattered by a complete disaster with a different one. Next thing you know, there is a heated argument between best friends over a bad recommendation.

For Each Interaction

Consistency during each interaction with a customer can impacts his/her loyalty. Imagine that you have an effortless experience the first few times you visit a new store - you are greeted with a smile, offered the beverage of your choice (which should be consistent), and enjoy the familiar music. As you learn to expect the same treatment over time, of course you are surprised if you enter the store and feel as if you are in a different world! What happened? Is there new management? You decide to give them the benefit of the doubt - it must have been an off day… While the tolerance for variations in customer experience will vary, don’t test the waters when you have the power to manage the consistency.

What are your thoughts on consistency as a customer? How do you handle consistency with customers at your business?

Yours Truly,

The Pukka Panda

April 26, 2015

How To Get Full Attention From Your Audience

April 26, 2015/ Randa Green

"Communication is the process of sending and receiving messages. However, communication is effective only when the message is understood and when it stimulates action or encourages the receiver to think in new ways." (Courtland L. Bovée, John V. Thill, and Barbara E. Schatzman, Business Communication Essentials. Pearson, 2004)

As we are buried in endless communication from every channel, we need to bypass information overload and help our audience capture and lock into their memory?

In the beginning, its simple…

Being the first employee for a startup, I designed and implemented the operational processes used with the systems to support the voice SaaS business. At Geckotech, I led the teams responsible for implementation, customer service, and the data center infrastructure. Since we were all located within one office, communicating change was simple - and it occurred frequently. A combination of email communication, weekly training sessions, and management of defined metrics was a great recipe for success.

Once business grow into more than one location, the recipe needs to adapt. In fact, using an application called RescueTime to understand productivity by application use, I noticed that my email usage went from 5 hours a week to 15 hours a week when managing teams across different locations!

When you grow, it becomes a challenge...

When M5 Networks acquired Geckotech, I transitioned to oversee business process and the service delivery teams which span across several locations. As a growing business implementing new technology and systems, it was a careful challenge to communicate change effectively and continue to maintain top NPS scores. Technology and systems will only have the expected impact when the people and change process are managed properly.

Emails, meetings, Powerpoint decks posted on Salesforce.com chatter, and knowledge base articles didn’t seem to be enough to effectively communicate the information required to both the impacted teams and the rest of the company. After all, everyone else is using the same communication channels. Rewind back to the comment about information overload... As a company, we adopted quarterly change sprints so make change consistent. Even with a corporate movement, there is room for creativity.

It’s time to disrupt the norm…

I can almost guarantee your message will be the only one in the restroom. Just like we need to take some time away from our smartphone and technology at times, we also need a ‘bio’ break!

I found the ‘sacred’ place a great way to capture everyone’s attention and generate some funny emails from those who were shocked by the placement. Here are some tips that I learned along the way through positive and constructive feedback which I used to iterate into the weekly posts.