Forrester – How Can Brands Be ‘Future Ready’ For Digital … · 2020. 7. 30. · Brands will need to upgrade systems and processes. Brands are upgrading in legacy systems and

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Forrester – How Can Brands Be ‘Future Ready’ For Digital Transformation? An EnterWorks webinar featuring Forrester

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Our Presenters

Kerry Young VP and General Manager

Michelle Beeson Guest Speaker

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Introducing EnterWorks

Empowering Business & IT Users for over 21 years

All-in-one platform for MDM, PIM, and DAM

Only Solution that is a Leader on both the Forrester PIM and MDM Waves

Highest customer satisfaction marks on industry analyst reports

Industry expertise: distributors, manufacturers, retail, hospitality, service companies, and member / buying groups

Strong Global SI & Technology partnerships

Business Mission Enable Our Customer’s Growth,

Efficiency and Differentiation through Exceptional Competency in Data

as Enabled by our MDM Technologies

Complexity Mastered

Master Shared and Application Data for

Business Model Agility

Discrete Views of Everything

Provide a Central View of Data Across Enterprise

Networks

Differentiated Experiences

Leverage Multiple Domains for Combinatorial Precision

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A Division of

51% LICENSES

OUTSIDE U.S.

2,400+ GLOBAL

CUSTOMERS

75+ COUNTRIES

200+ NEW ACCOUNTS

ANNUALLY

22 OF SAP’S TOP 25

CUSTOMERS

48 NET PROMOTER

SCORE

Auto Apparel Oil & Gas Food &

Beverage Consumer Products Retail Pharma Chemical Entertainment

Revamping Digital Strategies to Support D2C and B2B2C

How Can Brands Be ‘Future Ready’ For Digital Transformation

Michelle Beeson, Analyst

July 2020

6 © 2019 Forrester. Reproduction Prohibited.

Consumers are channel agnostic; living in a digitized, connected, omnichannel world


COVID-19 has forced consumers online and accelerated the need for better digital experience and operations.

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The pandemic has sparked new digital behaviours that will continue

• European consumer have done a range of activities online, for the first time, during the pandemic

• Many are likely to persist

Thinking about the activities that you have started doing during the COVID-19 pandemic, please indicate how likely you are to continue doing the following once stay-at-home restrictions are lifted? (Responses shown [Likely])

Base: Online adults in the US (n=1093), China (n=1108) UK (n=1,152), France (n=1,116) and Italy (n=1,144); Source: Forrester Analytics Consumer Technographics® COVID-19 Wave 2 Survey, May 8-15, 2020.

38%

48%

42%

36%

43%

35%

33%

53%

56%

36%

35%

45%

81%

87%

76%

Purchase groceriesonline

Usedigital/contactless

payments

Order more onAmazon/Tmall

ChinaUSItalyFranceUK


Firms must begin to plan for phase 3 of the pandemic

COVID-19 timeline US and Europe

Forrester Research Source Returning To Work How To Prepare For Pandemic Recovery

:

https://www.forrester.com/report/Returning+To+Work+How+To+Prepare+For+Pandemic+Recovery/-/E-RES160660


E.g. Travel & leisure, some retail

E.g. Financial & professional services E.g. Grocery, healthcare

Forrester Research Source: https://www.forrester.com/fn/48hL09nWWBNewKMtrkEerS

https://www.forrester.com/fn/48hL09nWWBNewKMtrkEerS

11 11 © 2018 Forrester Research, Inc. Reproduction Prohibited

Source: charlottetilbury.com

Brands are building direct customer relationships and addressing new target markets with D2C commerce

12 12 © 2019 FORRESTER. REPRODUCTION PROHIBITED.

Brands sell online in 4 ways

Direct-to-consumer Though wholesale partners

Marketplaces: 1st party Marketplaces: 3rd party


There are different types of brands

Cult infrequent

Commoditized infrequent

Cult frequent

Commoditized frequent

Frequency of purchase

Prestige/desirability of brand


Digital opportunity differs by brand product type

See Forrester report Brands Here Is The Size Of Your Digital Commerce Prize

https://www.forrester.com/report/Brands+Heres+The+Size+Of+Your+Digital+Commerce+Prize/-/E-RES142018

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The Reality For Most?

A significant proportion of revenue still comes from retail partners and distributors

Digital content will influence consumers across the customer lifecycle


Product information and content data is key to driving valuable customer experiences

See Forrester report Research Overview: Five Must-Have Tech Solutions For Brand Manufacturers

https://www.forrester.com/report/Research+Overview+Five+MustHave+Tech+Solutions+For+Brand+Manufacturers/-/E-RES157517


Customer and operational excellence require strong content and product information management

Content Excellence Drives Sales Product information is the fuel that drives the retail customer experience.

Operational Excellence Drives Scale Need the operational ability to manage and distribute winning content across those many touchpoints, to engage across all sales and marketing channels.


Product experience management spans digital operations platforms and digital experience platforms

Three Digital Trends Broaden The Role And Scope Of Product Information Management

https://www.forrester.com/report/Three+Digital+Trends+Broaden+The+Role+And+Scope+Of+Product+Information+Management/-/E-RES157735


Availability is a critical differentiating element of customer experience


Samsung D2C site connect customers to product availability across partners too

Source: Samsung website


Toy brand helps retail partners optimise assortment and sales with more frequent replenishment of smaller batches

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Brands are facilitating drop shipping

The Definitive DropShip Guide For Brands And Retailers

https://www.forrester.com/report/The+Definitive+DropShip+Guide+For+Brands+And+Retailers/-/E-RES159515#dialog-1595498516946-dialog


Digital supply chains align internal processes to optimize fulfillment

See Forrester report Research Overview: Five Must-Have Tech Solutions For Brand Manufacturers

https://www.forrester.com/report/Research+Overview+Five+MustHave+Tech+Solutions+For+Brand+Manufacturers/-/E-RES157517

Managing D2C alongside B2B2C

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Digital and trade teams largely separate

• Little coordination or collaboration.

• Disconnected processes systems and tech solutions.

Managing the brand’s own digital commerce, online

marketplaces and online only retail partnerships

Managing Trade Accounts with Wholesale Retail

Partners [digital and store]

Traditional Wholesale Team

Own brand website/ mobile Marketplaces

Retail partner website/ mobile

Retail partner stores

Direct Digital Commerce Team

Systems, solutions, and processes for digital team

Systems, solutions, and processes for wholesale team

CUSTOMER

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Digital and trade teams largely separate

• Little coordination or collaboration.

• Disconnected processes systems and tech solutions.










Systems, solutions, and processes for digital team

Systems, solutions, and processes for wholesale team

CUSTOMER

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Digital and trade teams become more connected

• Collaborative working relationship.

• Processes are coordinated across digital and trade teams.

• Systems and tech solutions are shared across teams.










CUSTOMER

• Digital acumen • Shared data & insight

Collaboration

System, solutions and processes supporting both sides of the business


All brands need a direct to consumer strategy.



Brands must evolve from product suppliers to become business partners with retail wholesalers and distributors.



Brands must evolve from product suppliers to become business partners with retail wholesalers and distributors. Brands will need to upgrade systems and processes. Brands are upgrading in legacy systems and new solutions to support both direct to consumer commerce and sales through partners.



Brands must evolve from product suppliers to become business partners with retail wholesalers and distributors. Brands will need to upgrade systems and processes. Brands are upgrading in legacy systems and new solutions to support both direct to consumer commerce and sales through partners.

Extend digital acumen across the whole business. Feed digital acumen, analytics and learnings from direct to consumer digital initiatives into the B2B2C side of your business

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Thank You.

Michelle Beeson Analyst [email protected]

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Questions?

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If you missed any of this series or our previous one, watch the replays here:

www.winshuttle.com/event/everything-mdm-pim-virtual-conference/

www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/

http://www.winshuttle.com/event/everything-mdm-pim-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/http://www.winshuttle.com/event/everything-master-data-management-mdm-virtual-conference/

Slide Number 1Our PresentersIntroducing EnterWorksSlide Number 4How Can Brands Be ‘Future Ready’ For Digital Transformation�Slide Number 6Slide Number 7The pandemic has sparked new digital behaviours that will continueFirms must begin to plan for phase 3 of the pandemicSlide Number 10Slide Number 11Brands sell online in 4 waysThere are different types of brandsThere are different types of brandsDigital opportunity differs by brand product typeSlide Number 16Slide Number 17Product information and content data is key to driving valuable customer experiences�Customer and operational excellence require strong content and product information managementProduct experience management spans digital operations platforms and digital experience platformsAvailability is a critical differentiating element of customer experienceSamsung D2C site connect customers to product availability across partners tooToy brand helps retail partners optimise assortment and sales with more frequent replenishment of smaller batches Brands are facilitating drop shippingDigital supply chains align internal processes to optimize fulfillmentManaging D2C alongside B2B2CDigital and trade teams largely separateDigital and trade teams largely separateDigital and trade teams become more connected�Slide Number 30Slide Number 31Slide Number 32Slide Number 33Slide Number 34Slide Number 35Slide Number 36

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Forrester – How Can Brands Be ‘Future Ready’ For Digital … · 2020. 7. 30. · Brands will need to upgrade systems and processes. Brands are upgrading in legacy systems and