(credit image/Pixabay/Michal Jarmoluk)Salesforce has announced a series of new innovations to help retailers grow and optimise advertising sales. Salesforce says it provides a single view of transactions across digital and physical stores and unlocks value from customer data. New Salesforce data shows that a disconnected experience is the top frustration customers have with retailers. What’s more, 79% of consumers surveyed plan to reassess their retail spending over the next 12 months. However, 65% will remain loyal to companies that offer a more personalised experience.

(credit image/Pixabay/Jujhar Singh)
Jujhar Singh, EVP and GM of Salesforce Industries

“Consumers today expect every moment to be connected, personalised, and seamless, and to succeed. Retailers must deliver on those expectations,” said Jujhar Singh, EVP and GM of Salesforce Industries. “Salesforce for Retail brings together the power and flexibility of Salesforce’s platform with an expansive ecosystem. Retailers can leverage real-time data to acquire new customers, deliver personalised experiences, generate advertising revenue, increase margins, and drive efficiency.

Helping retailers grow and optimise advertising revenue

Retailers navigating recent data privacy changes are looking for new ways to leverage shoppers’ first-party data. New Salesforce for Retail Media innovations help them activate that first-party data. This gives them new audience insights, targeting abilities, and the resources to grow advertising revenues. With Salesforce for Retail Media, organisations can:

  • Harmonise first-party data to provide ad buyers with direct access to target audiences.
  • Use automation and workflows to streamline advertiser relationships, drive operational efficiencies, and accelerate sales cycles.
  • Optimise campaign performance with actionable insights and timely reporting. Commerce Cloud innovations and partnerships create seamless shopping experiences

Retailers need to find new ways to grow revenue and margins while driving efficiency and cutting costs. New Commerce Cloud innovations create frictionless experiences to accelerate time to value, streamline operations, and keep shoppers coming back to retailers’ digital stores.

With Commerce Cloud, retailers can:

  • Have a single view of transactions across digital and physical stores with a new partnership between Mad Mobile, Stripe and Salesforce. Merchants can use Salesforce Payments as their payment service provider in physical stores in conjunction with Mad Mobile as the POS and Stripe Terminal for payment services and hardware.
  • Accelerate time to value and increase conversion rates with Composable Storefront enhancements. These include a new API, implementation accelerators, and out-of-the-box analytics and dashboards that help personalise experiences based on shopper context.
  • Streamline operations, automate payments, expand fulfilment capabilities, and more with the help of hundreds of Commerce Cloud partners that will soon be available on AppExchange.

Genie’s unified data drives efficiency for brands.

  • The new CDP Azure Storage Connector allows retailers to ingest data stored in Azure into Genie Customer Data Cloud.
  • The new Marketing Cloud Intelligence Data Control Center ensures performance and reporting data is reliable and trustworthy. This is achieved through automated data management.
  • Customers can synchronise sales orders, products, and inventory data across systems to create a single shopper view. It can also personalise marketing interactions, and view real-time inventory with the MuleSoft Accelerator for Retail.

Furthermore, with Salesforce Loyalty Management, retailers can better retain their customers, improve member engagement, and drive greater program ROI. Companies can rapidly deploy new promotions and personalise loyalty rewards programs, review promotion-predicted revenue. Furthermore, retailers can take corrective actions to achieve promotion goals, all while delivering exceptional service experiences and better agent productivity.

Before Salesforce, we had multiple fragmented marketing systems that did not talk to one another, and had no commonality,” said Art Sebastian, Vice President of Digital Experience, Casey’s. “When we selected Salesforce, we had the ability to easily organise and unify all of our customer data to communicate in a consistent way. This led to an increase in customer loyalty and less work for our marketers.”

Enterprise Times: What this means for business.

Retailers across the globe are facing tough times. They face economic uncertainty by tightening budgets and making every pound, dollar and euro count. Furthermore, a major challenge that remains for retailers and brands is gaining a real understanding from the mountain of data retailers generate. Salesforce’s own research suggests 65% of consumers will remain loyal to companies if they offer more personalised experiences. However, to achieve this, they must have a clear understanding of customer’s needs, aspirations, and intentions.

As Beth Heeney, Director of eCommerce, Duluth Trading Co suggests, “In today’s environment, it’s important to keep a close ear and eye on what the customer is doing. Be able to quickly pivot to meet their shifting needs.” Salesforce’s says its innovations by Salesforce Genie Customer Data Cloud, enables retailers to unlock value from their existing customer data. The company stresses it will drive efficiency by reducing integration costs, break down data silos, and manage data quality. This will be essential for retailers looking to develop close relationships with their customers.

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