Do You Know Where Your Inventory Is?
When I worked in the airline business our most embarrassing incident was “losing a minor”. We never lost a child, of course. But we might not have known where a child was for certain period of time. Even though this was an extremely rare occurrence, we built serious procedures to prevent it from happening. The retail industry faces a similar scenario that retail technology is poised to tackle: inventory management. Macy’s has a monthly inventory loss is 3%. This is no small number, given that inventory is the whole business.
Inventory Management Technology
This week we visited Bloomingdales in Soho, NYC, to experience a demo with Stealthmatrix.
Stealthmatrix is an AR technology based on gaming. It enables sales associates to manage inventory much more efficiently. With the device, one can built a 2D Map of a sales floor, scan thousands of RFID tags, and then search any item based on the unique product code from the inventory file. We saw how sales associates can also search by designer, size and any other field that comes through from the inventory file. As usual, the quality of the data defines the quality of the experience.
The implications of this technology are even more exciting than the technology itself! Think about it! With RFID tags (current cost is 10 cents) that can be located, you can put a device on top of a loading dock or a warehouse door and monitor the movement of your inventory. This provides a variety of advantages. You can manage theft better. And you can find items that are out of season and send them back to the vendor faster.
Revolutionizing Experiences for Employees and Customers
Our favorite part about this technology, though, is the ways in which it can revolutionize employee and customer experience. When a sales associate is empowered to deliver a professional, efficient, seamless experience, that associate;s confidence skyrockets. They are no longer unsure about where items are. They KNOW. And when we combine this technology with consumer website behavior, and put that knowledge in the associate’s hands on an iPad, hospitality service comes to life in stores!
Just think about it. Walking in the future Lord&Taylor and giving the sales associate your account ID. With only that small piece of information s/he can see your shopping cart and bring those items to your dressing room. This consumer experience makes the sales associate proud to serve, and it creates a personalized consumer experience that will increase customer satisfaction and store revenue.
Increasing Operational Efficiencies through Retail Technology
And if you are a brand with constant inventory movement like Rent the Runaway, Le Tote or Stichfix, this technology can bring a new level of operational efficiencies that lower your costs. It is very rare to find a solution that can lower costs and increase revenues. So pay attention. And try this as soon as you can.
McKinsey’s Praveen Adhi wrote in Entrepreneur that to succeed in 2020 retail brands need to restructure their cost stack and move funds towards customer service. He urged POCs and trials with technology to explore the retail experience of the future. If you want to stay relevant, you need to add innovation to your budget now.
We would not be completely correct if we did not remind you of the training costs that also need to be included in your 2020 budget. No innovation or technology alone (retail technology or otherwise) can create memorable experiences. The sales associates’ empowerment that the technology can provide needs to have culture-driven hospitality standards so the right conversations take place while they are serving consumers.
We can help you set up the right proof of concept and learn how to scale a new cost efficient, customer-centric operation. And once we have done this, we can start talking about how to put this technology in the hands of the consumer to enable self-service too!
Autonomous Customers, Traveler Privacy and More Questions for CX Professionals in a Changing World
“As we move toward a more automated culture, most travelers will adapt to a Jetsonian, automated lifestyle. Every industry we know will be disrupted. For those of us in aviation,…
Poor Integration is Bad for Customers and Worse for Brands
Although we all have bad customer experiences, there is still a big debate about “the CX field” and whether it will survive the test of time. There is no doubt…
Customer Experience View of your Call Center Technology
By 2022 the global cloud based contact center market is growing from USD 6.8Bn in 2017 to 20.93Bn in 2022. This makes for CAGR of 25.2%. If you do not…
The One CX Goal You Need to Set for 2019
For 2019, I urge you to make only one CX goal – bring about business success with your customer experience work. Don’t just do work in the general sense. Rather, set a CX goal that has a real impact on your customers and their experiences with your brand.
Hospitality and Why We lack Seamless Travel Experiences
Hospitality is taken for granted across government agencies, airlines and hotels. In my line of work, I often hear “I want to have the JetBlue customer experience.” Although many claim…
Our Holiday Wishes for Great CX
Every successful customer experience initiative starts with a skilled CX team. Brush up on your CX skills to strengthen the business case for CX; to develop relationships within your organization; and to deliver standout customer experiences in the new year.
Customer Experience Audit: eBay’s Vibrant Marketplace of the Future
Editor’s Note: This post is part of a series of Customer Experience Audits. See all audit stories. Two years ago RJ Pittman and eBay made a big bet and made…
Culture Is King – The Power Of Employee Engagement
In 2017 we introduced our ROI series recognizing the challenges all customer experience professionals have to obtain funding for CX initiatives and to prove their positive returns. Our second ROI…
Why You Need Culture Not Call Center Training for Customer-Centric CX
If the organization does not understand what customer experience is, you will not get the funding or organizational support you need to build customer-centric experiences.
Are You Ready to Go Exclusive with Jane, Your Digital Concierge?
In 2015 JetBlue introduced bag fees. Seven years after the competition. The media exploded. Many publications were negative. They blamed the airline for “selling out.” One headline read “A New…
Customer Experience Audit: FedEx Omnichannel Disaster
In our Strategy, Org Design & Culture series we cover customer-focused companies that are willing to adapt, take risks and discover new ways of staying relevant. Sometimes, we encounter brands…
CX Skills Builders: You May Have a CX Job and Not Know It
Last week we talked about the identity crisis of CX professionals and we urged you to fix any small problem or seam on the customer journey in order to build internal brand equity and buy in.
Why Customers Are Not Responding to Your Customer Experience Survey
When you solicit customer feedback sometimes matters more than how you ask the questions. In the case of a survey about new biometrics boarding initiatives my team and I created for JetBlue, we had a list of feedback that was most important for us.
Customer Experience Audit: New York Times Beats Google
Editor’s Note: This post is part of a series of Customer Experience Audits. In this series we walk you through customer experience examples across industries. We feature brands that made…
CX Design Makes Form and Function Beautiful – and Cosmopolitan Magazine Notices
At its core, design is about value creation. In the world of Customer Experience, value-driven design requires CX professionals to use empathy to imagine a future customer experience that is…
Customer Experience Design – Make the Customer Know Who You Are
Now that we have helped you become experts in the design of space and function and the design of feelings, it is time to turn our attention to aesthetics, and to connect customer experience…
Hiring Tips: Who Should I Hire First on My CX Team
The pressure to demonstrate business impact and ROI on your Customer Experience initiatives quickly makes your first hire even more important. As usual, there is no answer that fits all scenarios perfectly. We have some helpful strategies to consider based on the structure of your organization and your goals.
How to talk to your CFO about customer experience and revenue growth
Last month we introduced the topic of Customer Experience ROI and the complexity of building a good business case for it. The Customer Experience business case is strong, but not easy to prove. Today we will focus on two big wins of a successful customer experience investment – revenue and customer growth of your business.
Create Your Tribe: How Great CX Makes a Lifestyle Brand
Newcomers to the market realize that their business is only as strong as the growth of their customer base. With that in mind, senior leaders work hard to shorten the distance between them and the customer.
How Not to Leave Customers Stranded on the Busiest Travel Day of the Year
Meet Diane. She is traveling with her 2 year old and 5 year old to her in-laws’ house for Thanksgiving. This is the one annual trip she has to take….
Customer Experience Audit: Cadillac Scores Millennial Customers with Future-Forward Thinking
Editor’s Note: This post is part of a series of Customer Experience Audits. See all the audit stories. The automotive industry is right next to the airline industry in terms…
From Pain Points to Magical Moments: Transform the Customer Experience
Argyle Journal interviewed Liliana Petrova about emerging self service technology and meeting and exceeding customer expectations in airports. In the below recording Liliana explains how JetBlue addresses the pain points…
How a Personal Interaction builds Customer Loyalty
A customer-centric methodology is key to the successful outcome of my interaction with Hello Spud. It is the reason this story appears here, and not among the CX Big Fails! The company did not send an automated response. It did not deliver a message stating “sorry we couldn’t help you, would you like something else.” Instead, the company co-founder reached out to me personally across multiple channels (a handwritten note, followed by personal emails).
Customer Experience Audit: Starbucks Bets On The Physical Experience
Starbucks is opting in for the physical experience in order to become a lifestyle brand while other brands are investing in omni-channel experience.
Customer Experience Tips and Best Practices In 2017?
In Post 2 of Liliana Petrova’s series on customer experience tips, lessons learned, and best practices for the new year on JetBlue, she explores the importance of “keeping the human…
Customer Experience Lessons for Freelancers: To Grow Your Client Base, Add Your Personal Touch
For small businesses and freelancers alike, it’s important to recognize that your business is as strong as the relationships you build with your customers. We can learn a lot about…
Do You Know Why The Iconic Brand Toys ‘R’ Us Closed Doors Despite All Our Memories? #RetailBlues
The year is 2016. You are the CEO of Toys ‘R’ Us. Your brand still controls 13.6% of the toy market although the company is highly leveraged, a strategy of…
Customer Experience Design – How Do You Want Customers To Feel?
Last week, we talked about CX Design in terms of space and function. Today, we continue our CX design journey to talk about the design of emotions and feelings. The new…
Employee Experience and Customer Experience Depend on Strategy
This week, Andy Newman wrote a great article in The New York Times about the life of a retail sales agent. He used the example of an Old Navy sales…
WeWork Does CX Right with a Wow Moment
Used at the right time and place along the customer’s journey, the Wow Moment is an excellent retention technique. When a brand creates personal, relevant experience at exactly the right time, it can build a lifelong, loyal customer relationship.
Would You Pitch In To Save Toys “R” Us For Your Children To Experience? #ToysRUsGoFundMe
Last week we laid out the big moves that the leadership of Toys ‘R’ Us failed to take to evolve with customer needs. This week, billionaire Isaac Larian set up a GoFundMe…
Why you need a defined culture to do CX right?
When designed and built correctly, customer experience expresses an organization’s brand. Your brand and marketing promises serve as a guiding light to your experience team. Similarly, organizational culture serves as a goalpost for the service side of customer experience.
CX Bold Moves: JetBlue Paperless And Deviceless Boarding
Editor’s Note: This post is part of a series of CX Bold Moves. See all the CX Bold Moves stories. This year JetBlue entered the ranks of the innovators who…
Get Customer Experience Basics Right and You Don’t Need to Invest in Wow Moments
Wow Moments are a Customer Experience hot topic. Customer experience professionals ideate how to build, prioritize, finance, and measure these Wow Moments. Chip and Dan Heath wrote a whole book on the topic: The Power of Moments. No Wow Moment saves you from negative word of mouth if your brand fails to get the customer experience basics right or to deliver the expected brand experience consistently.
How To Define Your Purpose And Have Unique Culture
If you Google the word “purpose” you get the definition “the reason for which something exists.” This is a challenge if you think about it in the context of an…
Why Customer Retention is the True Measure of SaaS Success
Guest Post by Callie Reynolds In SaaS (Software as a Service), like in most businesses, sales is king. Sales gets the glory, and while I’d like to say this has…
Customer Experience Audit: Uber Bets On Self-Driving Cars With Big Volvo Purchase
The question that remains unanswered is who will be part of the future of transportation. Uber is going for the vertical integration – the whole pie. The future industry of urban transportation will be made of players in three different categories: cars, self-driving software, and ride-sharing network. In contrast, Lyft approaches the future through partnerships.
The Importance of Wellness In The Workplace: Guest Post
Today, The Petrova Experience brings you a guest article by Natlie DeVito of Commonwealth Joe. Commonwealth Joe is an innovative company, new to the New York City market, that offers…
Coronavirus Isn’t The Only Thing Killing the Aviation Industry
Eighteen years ago, September 11th caused a three-day halt of the US commercial airlines and resulted in a 31.6% reduction in travel in September 2001 compared to the previous year….
Why BtoB Businesses Need to Think Like BtoC in the Next Decade
According to Gartner at least 80% of BtoB buyers now expect the same buying experience as BtoC customers in 2019. Gone are the days when BtoB organizations did not need…
Is Covid19 What We Needed to Build Seamless End-to-End Travel Experience?
On January 10th, we published an article called The Future of Travel We Deserve. In it, we laid out the foundation necessary to implement innovation at scale. Four months later,…
United CEO does not care about #customers happiness. Really?
Lately, I have been thinking about United Airlines. In the beginning I was thinking about them, because I was asked if it is possible to build a customer-centric culture in…
3 Ways to Get Started Creating Better Employee Experience
Guest Post by Gabe Smith, CCXP The relationship between employee experience and customer experience has long been discussed. Without engaged employees, we’re told, it’s difficult to create great experiences for…
4 Career Tips to obtain a Customer Experience Role
In honor of the 4th of July, we are rounding up 4 career tips for CX professionals. Set aside some time during the break from work to take stock in your CX career and evaluate the steps you need to get to the next level.
Culture Starts at the Top
Without a leader who believes that today’s business success is about acquiring and retaining customers, you cannot even begin the process of building a culture. Leaders who are passionate about the customer are also passionate about creating culture and employee engagement.
Customer Experience, Self Service, and the Gift of Time
Time is the most precious gift in life. If you think about it, time is the one thing we all want more of. As we get older and busier, time gets even more valuable to us.
Liliana Petrova Talks Patient Experience on Healthcare Podcast
Today we share with you a recent healthcare podcast we recorded with Stacey Richter. I was very excited to have the opportunity to discuss with her the similarities between the…