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Precima, a LoyaltyOne company, is a consulting and analytical services firm that uses shopper insights to enable more profitable merchandising and marketing decisions. Precima's unique combination of loyalty, analytics and retail industry expertise, honed over 18 years, has helped its clients evolve to become more shopper-centric. Serving many of North America's leading companies, Precima is recognized for delivering measurable results tailored to retailers and manufacturers unique needs. Precima and LoyaltyOne, based in Toronto, are Alliance Data companies.
www.precima.com
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3. Align the Organization: We have all heard the axiom that what gets measured gets managed. For true change to be implemented, the organization must measure and manage its processes and teams in accordance with its new shopper-centric approach. The organizational structure, roles and policies right down to how people are measured and evaluated must change. These pillars establish the platform upon which to build the change management plan. But the real question is how to get there, which this series will answer. In this first article, I will outline the steps to launching a proof-of-concept (POC) plan. The next article will guide from the POC to a full-scale organizational rollout, including change among structure, data, processes, team members and more. A Proven Approach: Five Steps to a Successful Shopper-Centric Proof of Concept 1. Develop a shopper-centric strategy and team: An enterprise-wide customer strategy requires comprehensive segmentation and insights. It is vital to get senior and crossfunctional commitment so decisions are made to meet the needs of priority customers. The organization also should establish its core Change Team, including key roles of staff members, and to establish accountability and reporting structure who will drive this change.
2. Prioritize shopper-centric tactics: Where to start? One of the most critical decisions made during change management involves picking the best-suited initiatives to drive the greatest value. At Precima, we use a formula that crossreferences the potential value of the tactic with the organizations ability to execute the plan. The result is the following matrix:
The Quick Win opportunities, those with significant insight value and high execution ability, are the primary POC targets. The Morale Boosters, with lower insight value but high ability among managers and resources, build organizational confidence and momentum. Together, the Quick Wins and Morale Boosters are prioritized as the initial proof-points, while Challengers are delayed for the longer term (once there is a strong foundation) and Resource Drainers are avoided altogether. 3. Define the shopper-centric approach: Next, identify shopper insights that encourage tactics that will deliver higher sales and profits. It is key to develop a shopper-centric approach to the selected tactic and build the analytics, recommendations and test plan based on how the
Precima, a LoyaltyOne company, is a consulting and analytical services firm that uses shopper insights to enable more profitable merchandising and marketing decisions. Precima's unique combination of loyalty, analytics and retail industry expertise, honed over 18 years, has helped its clients evolve to become more shopper-centric. Serving many of North America's leading companies, Precima is recognized for delivering measurable results tailored to retailers and manufacturers unique needs. Precima and LoyaltyOne, based in Toronto, are Alliance Data companies.
www.precima.com
Precima
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strategy will be executed. This will require a decision-making process based on different metrics one that examines traditional tactics through the scope of the priority shopper. 4. Develop the proof-of-concept plan: In partnership with the Change Team, a POC Execution Team is required to develop the plan, define the parameters and lead execution and measurement. Here, it is critical to pick the team that will be exceptionally open to change and have accountability for the tactics being executed as both of these will be key for success. It is crucial to communicate and to work on a manageable scale the plan will only succeed with the rightsized tools and teams in place. This plan must also include the benchmarks and definitions for success that will support a rollout. 5. Execute, measure and build the case for rollout: Develop a series of tests and continuously measure the impact from the strategic and financial benefits to process effectiveness, with lessons, best practices and opportunities to improve. The financial results support the cause for change; the organizational results provide the proof that change can be implemented. One of the rewards of the POC approach is that it transforms the POC and Change Teams into credible advocates for change, driving organizational belief that the change can be implemented.
Indeed, the successful transformation to shoppercentricity relies on the quality of shopper insights and tactics as much as it relies on a credible implementation plan. I cannot emphasize enough the importance of a measured approach. After all, change does not end with the plan. Instead, it starts here. In his next article, Brian Ross will explain how to expand the POC companywide, through a successful rollout.
Precima, a LoyaltyOne company, is a consulting and analytical services firm that uses shopper insights to enable more profitable merchandising and marketing decisions. Precima's unique combination of loyalty, analytics and retail industry expertise, honed over 18 years, has helped its clients evolve to become more shopper-centric. Serving many of North America's leading companies, Precima is recognized for delivering measurable results tailored to retailers and manufacturers unique needs. Precima and LoyaltyOne, based in Toronto, are Alliance Data companies.
www.precima.com