The following few posts focuses on an article by Dr Nicola Millard and takes a look at how those concepts for designing a 2020 strategy are applied in a South African company, for these particular posts Woolworths was selected and their publicly available Integrated Report for 2016 was used for information.
- Globally: It is believed that the traffic (interactions) via traditional channels will reduce while WebChat, Twitter and others will increase and therefore it is recommended that one should implement an omni channel strategy (Millard & Alcock, 2014).
- Woolworths: The Woolworths Integrated report of 2016 for their Financial Services portion was incorporated into the Woolworths South Africa strategy. Woolworths retained “Building stronger and more profitable customer relationships” and moved from “becoming an omni-channel business” to offering a “Connected retail experience” therefore simplifying their 8 strategic pillars into 4 and aligning with the rest of Woolworths SA (Woolworths Holdings Limited, 2016).
A SINGLE VIEW OF THE CUSTOMER WILL BECOME A REALITY:
- Globally: A single view of the customer reduces the need for a customer to repeat his/her requirement or problem every time s/he switches channels which increases the ease of which they do business (Millard & Alcock, 2014).
*Note: remember the importance of the NetEasy score discussed previously
- Woolworths: The first strategic pillar “BUILD STRONGER, MORE PROFITABLE CUSTOMER RELATIONSHIPS” and its third focus area of that pillar states that they want to “Build a single view of the customer, enabling customers to be recognised in real time, with delivery of personalised, seamless service across channels” (Woolworths Holdings Limited, 2016).