Social Media for Retail Players

Embed Size (px)

Citation preview

  • 8/6/2019 Social Media for Retail Players

    1/16

    FromSentimenttoInsight

    HowSocialNetworkingCanSupport

    Engaged,CustomerCentricRetailing

    AProspectiveView

    August2009

    Sponsoredby:

    By:

    BrianKilcourseandPaulaRosenblum

    ManagingPartners

  • 8/6/2019 Social Media for Retail Players

    2/16

    TableofContentsOVERVIEW......................................................................................................................................................1

    TheSocialNetworkingPhenomenon........................................................................................................1

    CommunitiesofInterestSpringUpOvernight..........................................................................................1

    ConsumerSentimentastheNewPsychographic......................................................................................2

    Methodology.............................................................................................................................................2

    BUSINESSCHALLENGES:DiviningDemand.....................................................................................................3

    RetailersAskThemselvesWhatConsumersWantToBuy........................................................................3

    ConsumersAreMostlyAnonymousToRetailers......................................................................................3

    TheConsumerHasAllthePower..............................................................................................................4

    RetailersRespondasBestTheyCan..........................................................................................................4

    THEOPPORTUNITY: BecominganEngagedCustomercentricRetailer.........................................................5

    SocialMedia:ANewWaytoEngage.........................................................................................................5

    NaturalLanguageProcessingTechnologies...............................................................................................6

    WhatDoestheEngagedCustomerCentricRetailerLookLike?................................................................6

    ButHowToStart?......................................................................................................................................7

    GettingBeyondTheSqueakyWheelSyndrome........................................................................................7

    BeginToDevelopARoadmap...................................................................................................................8

    THERISKS: DontStartUnlessYouPlantoFollowThrough...........................................................................9

    TurningSentimentIntoInsightIsRetailReady?.....................................................................................9

    TheNetworkEffectAsADoubleEdgedSword......................................................................................9

    AvoidKillingtheGoosethatLaystheGoldenEgg...................................................................................10

    APPENDIXA:RelevantReferenceMaterial.....................................................................................................a

    APPENDIXB:AboutOurSponsor...................................................................................................................b

    APPENDIXC:AboutRSR...................................................................................................................................c

    FiguresFigure1:DifficulttoDivineConsumerDemand.............................................................................................3

    Figure2:ContinuallyIncreasinginImportance..............................................................................................5

    Figure3:SocialMediaFeedbackinContext...................................................................................................6

  • 8/6/2019 Social Media for Retail Players

    3/16

    1

    OVERVIEW

    THESOCIALNETWORKINGPHENOMENON

    In the late 20th century, quite a bit was written about the isolation inherent in modern day

    society. RobertPutnamfamouslydocumentedthedeclineofwhathecalledsocialcapital in

    his groundbreaking book Bowling Alone1. Putnam observed that while more US citizens were

    bowling than ever before, the number of people belonging to bowling leagues had dropped

    precipitously. He used this as a metaphor for the decline of community activities and

    connectionsingeneral(andsupportedhishypothesiswithcompellingstatistics).

    Putnams view may have been UScentric, but technologydominated, isolated societies are a

    worldwidephenomenon. TheonlyquestionoutstandingwasCanhumanssustainthiskindof

    isolation,orwilltheyfindnewwaystoconnect? TousePutnamsvernacular,Howcouldwe

    rebuild the social capital wed lost? The answer to that came shortly thereafter, and was

    alreadynascent incommunitywebsites like iVillage.com.Computersandtechnology,thevery

    thingsthathadfosteredisolationwouldbringpeopletogetherinwaysneverimaginedbefore.

    ThewebbirthedMySpace,Twitter,andFacebookandanewerawasborntheageofSocial

    Networking. Theviralnatureofsocialnetworkscanenableasinglepersontotriggerthousand

    orevenmillionsofimpressions.

    COMMUNITIESOFINTERESTSPRINGUPOVERNIGHT

    Social networks make it possible for people to communicate in a new way. Social media

    networkssuchasFacebookholdamindbogglingamountofinformationaboutashopper. They

    notonlyknowthatshehasclickedoncertaincontent(assearchengineslikeGoogleandYahoo

    do),butalsohername,whereshe lives,herage,specificareasof interest,andevenwhatshe

    looks like. Such identifying information makes it possible for those with common areas of

    interest to find eachother easily and exchange points of view. Ithelps also consumers find a

    commonvoice.

    Forexample,CanadiancountrymusicartistDaveCarrollpostedavideoonYouTubetocomplain

    aboutUnitedAirlinesbaggagehandlers.Thatvideowasviewedover4.5milliontimeswithina

    month of posting. Thenetworkeffect of social media can cause word of mouth epidemics

    unlikeanythingthatretailershaveeverseenbefore.

    InitiallythoughttobetherealmofMillennials,by2009Facebookreporteda276%growthin35

    54yearoldusers. Thiswasdoublethegrowthratein20082.Thisdemographicisimportantfor

    1BowlingAlone:TheCollapseandRevivalofAmericanCommunity,RobertDPutnam,Simon&Schuster,2000

    2http://www.istrategylabs.com/2009facebookdemographicsandstatisticsreport276growthin3554yearold

    users/

  • 8/6/2019 Social Media for Retail Players

    4/16

    2

    severalreasons,butforourpurposes, itmattersbecause itrepresentsthebiggestspenders,

    whoaretheprimarytargetofworldwideadvertisers.Inotherwords,eveninadowneconomy,

    theresalotofpotentialspendingpowerinthosesocialnetworks.

    Alongwith the potential togivevoice to millionsof frustrated travelers (as in the video cited

    above),miningthedataavailable inSocialNetworkscanalsogiveretailersa look intothehot

    buttonsandtriggerpointsofmillionsofpotentialshoppers. Itcanalsohelpuswrapourminds

    aroundthesuddenshiftsinideas,opinionsandtastesoprevalentinthe21stcentury.

    CONSUMERSENTIMENTASTHENEWPSYCHOGRAPHIC

    Ninety percent of retailers surveyed by RSR in July 2008 cited psychographic assortment

    localization as a key to their merchandising success. Those retailers believe that along with

    tailoring their merchandise mix to the demographics of visitors to their web sites and stores,

    and the geographies within which they reside, understanding their inclinations are also

    important.Aretheyemptynesters?Suburban?Conservative?Fastfashionadopters?Aspiringto

    be

    and

    act

    like

    their

    parents?

    Ironically, with all thescience at their disposal andwithever increasingmass, retailersareas

    isolatedastheconsumerstheyserve.Evenwithfocusgroups,outsidedatabases,andlegionsof

    buyers,retailersremainbaffledbythevagariesofdemand.

    Suddenly, that data (and a lot more) is available. We have the opportunity to find out how

    consumersfeel. The challenge of course, is making sense of piles of 140 character tweets,

    emailstocustomerservice,andFacebookstatusupdatesandwallposts.Butevenan industry

    accustomed to drowning in data has been forced to cry uncle in the face of this pile of

    seeminglyunstructuredsnippets.

    Thequestionsweattempttoanswerinthisbriefreportarestraightforward:

    Canstructurebebroughttothesemountainsofunstructuredbitsandbytes Oncestructureisbroughttoit,canitbeused? Andifitcanbeused,whatarethebestusesofiteveninadowneconomy?

    Ifstructure can bebrought, and thedatacanbeused, the sentiment psychographiccan be

    used to help drive a new, more responsive retail enterprise. RSR calls this The Engaged,

    CustomercentricRetailer.

    METHODOLOGY

    Inprospectivereportslikethisone,RSRpullstogetherdatapointsfromavarietyofdifferent

    sourcesandbringthemtogetherintoanewwhole. AlistofRSRreferencedocumentsisin

    AppendixA. Weidentifyothersourcesinfootnoteswithinthereportitself. Wesupplement

    thesedatapointswithinterviewstoaddcolorandsubstancetoourconclusions.

  • 8/6/2019 Social Media for Retail Players

    5/16

  • 8/6/2019 Social Media for Retail Players

    6/16

    4

    investigatethebestvalue:quality,price,andavailability.Sheisnolongerunopinionatedwhen

    shewalksintoastore. Infact,shesloadedwithfacts.Demandiscreatedoutsideofthestore,

    potentiallyoutsideoftheretailerscontrol.

    Winningretailershave learnedtousethe Internetasa leadgenerationenginefortheirstores

    bymakingcontentabouttheirproductsandservicesavailableontheInternet,aswellmakingit

    possible for the crosschannel shopper to begin transacting before entering the store. Retail

    winners know that their multichannel customers are more profitable than single channel

    shoppers. Savvyretailershavealsolearnedtouseinternetsearchdatatogainanunderstanding

    ofwhatconsumersarelookingfor,andtoworkwithInternetsearchenginestoputmessagesin

    frontofthepeoplemostlikelytoseetheirvalue.

    Butinallofthesemethods,thedataisaboutretaileractions. Afundamentalquestionremains:

    whatdoestheconsumerhavetosay?Asitturnsout,plenty.

    THECONSUMERHASALLTHEPOWER

    Therateoftechnologychangeinthepastfifteenyearshasshakenthefundamentalsofretailing

    to its core. In 2007, retailers reported their biggest business challenge to be Consumer

    complaintsabouttheirinstoreexperience3.Weobservedatthattimehowsocialnetworking

    had set retailers back on their heels and retailers were creating various mechanisms in an

    attempttostanchthevolumeofcomplaintsandcriticisms.

    Thesesqueakywheelshavesentamessage. Retailershavenowsetabouttheworktoprovide

    consistentconvenienceacrossalltheirsellingchannels.

    RETAILERSRESPONDASBESTTHEYCAN

    Retailers now have a variety of mechanisms available to sense the new psychographic of

    consumer sentiment. They have Facebook and Twitter pages, feedback forms on their web

    sites,outsourcedhelpdeskstospeakwithfrustratedconsumersandproductreviewsectionsof

    theirwebsite. Thisstill leavesuswiththesamefundamentalquestion:howcanretailerssift

    through these volumes of unstructured data to find trends? If there is such a thing as The

    Wisdom of the Crowd, is it found in the loudest voices, or behind the noise, in the most

    persistentsentiments?Howcanretailersbluntthenetworkeffectofnegativeopinionbeforeit

    becomesepidemic,andhowcantheyusethenetworkeffectinapositivewaytocreateabias

    fortheirproductsandservices?

    Thesearethechallengesthatwinningretailersaretryingtoaddressthroughsocialmedia.

    3 Technologyenabled Customer Centricity in the Store, by Paula Rosenblum, originally published by

    RSAG,March2007

  • 8/6/2019 Social Media for Retail Players

    7/16

    5

    THEOPPORTUNITY: BECOMINGANENGAGEDCUSTOMERCENTRICRETAILER

    SOCIALMEDIA:ANEWWAYTOENGAGE

    With traditional media, the dialogue is oneway and feedback is indirect. Retailers and their

    partnersspendmillionsadvertisingtheirproductsandservices,andfeedbackcomesintheform

    of success or failure at the checkout counter. Web 1.0 eretailing is fundamentally no

    different:marketingmessagesaredeliveredviathemedia,andconsumersrespondbysearching

    andpurchasing.Web2.0socialmediahoweverisfundamentallydifferent. Itsdirectandtwo

    way; in a word, conversational. It has the potential to return social capital to the fabric of

    retailingmuchlikeconversationsatthecornerstoresofthe19thandearly20thcenturies,but

    onalarger,morehightechscale.

    Ofcourse,as inreal life,thebestwaytohaveaconversation istostartone. Inthepast two

    yearsretailershavebegunawakeningtotheopportunity inherent inengagingsocialmediato

    maketheirproductsandservicesknowntomembersofthosenetworks(Figure2).

    Figure 2: Continually Increasing in Importance

    Source: RSRResearch,August2009

    Thequestionforretailersis,howengagedshouldtheybeandhowdotheycollateandquantify

    shoppersentiments?

    Firstofall,messagesfromvarioussocialmedia,whetherintheformofFacebookpostings,email

    messages, blog entries, or Twitter tweetsarenotdata they are sentiments expressed in

    plain language. Short of having an army of call center analysts manually codifying such

    messages,retailershavenonontechnicalwayofturningthatunstructuredtextintostructured

    data,sothatitcaninturnbetransformedintotrueinsights.

    31%

    46%

    23%

    11%

    56%

    33%

    LittleOpportunity SomeOpportunity AlotofOpportunity

    PerceivedOpportunityfromSocialNetworksorOtherFormsofDirectCustomerInput

    2008 2009

  • 8/6/2019 Social Media for Retail Players

    8/16

    6

    NATURALLANGUAGEPROCESSINGTECHNOLOGIES

    The good news is that technologies do indeed exist to analyze natural language and

    contextualizeunstructureddatafromsocialmediaallowingustogenerallyinterpretasentiment

    as either positive or negative. Pertinent words can be extracted (for example, mention of a

    productorastore). Theseextractedandcontextualizedbitsof informationcanbestructured

    intoadataformatthatcanbeprocessedbytheretailersinternalbusinessintelligencesystems.

    Formatted data could be matched to internal databases including the Customer database to

    helpprioritizesentimentfromloyalcustomersvs.noisefromanamorphouscrowd. Basedon

    the nature of the contextualized sentiment, an appropriate alert can be triggered to the

    appropriatecustomerservicerepresentative.

    WHATDOESTHEENGAGEDCUSTOMERCENTRICRETAILERLOOKLIKE?

    Retailers capture a tremendous amount of internally generated information from their

    transactional systems (Figure 3). Historically, that information has been used to develop

    forecastsandmerchandisingplans(productassortments,allocations,price,promotions)aswell

    as marketing strategies, to develop operational plans (store plans, labor plans), and to track

    performance (financial and sales information). Retailers also brought in externally generated

    datatogainmarketandcompetitiveintelligence,tohelpthemfocustheirefforton increasing

    marketshareandprofitabilityofkeycategoriesofproducts.

    Figure 3: Social Media Feedback in Context

    Source: RSRResearch,August2009

  • 8/6/2019 Social Media for Retail Players

    9/16

    7

    In the 1990s, the advent of loyalty schemes and multichannel retailing enabled retailers to

    identifycustomers individuallyandengagewiththem innewways,focusingmarketingefforts

    onthosemostlikelytotakeadvantageofoffersinordertobuildloyalty,and offernewwaysto

    delivervaluetoconsumers.Someretailershavestudiedclicktrackandsearchargumentsfrom

    theirownwebsitesandexternallygeneratedoncommercialwebsitestobetterunderstandwhat

    consumersarelookingfor.

    Butinafasterpaced,moreunpredictableworld,gettingclosertocustomersentimentsbecomes

    avitaltacticforproactivelymanagingcustomersatisfaction.Measuringsentimentandmarring

    thatnewdatatocustomerspecificandmarketintelligenceenablestheretailertoquicklyassess

    the impactof itsactions. Plus, itcreatesanewonetoonetouchpointtotheconsumer. No

    longer is the retailer solely dependent on the store clerk to create that moment of truth

    impressionontheconsumer.

    BUTHOWTOSTART?

    For

    retailers

    who

    havent

    begun

    experimenting

    with

    the

    two

    way

    communications

    capabilities

    ofsocialmedianetworks,anobviousquestionis,howdowebegin? Thequestionshouldbe

    answeredaspartoftheretailersoverallcrosschannelmarketingstrategy. Issuesthatneedto

    beaddressedinclude:

    One,afew,ormanysocialmedianetworks?Whichones? What are the intended objectives of the engagement? Promote the Brand (eg.

    community involvement)? Product promotions? Special onetime offers? Employment

    opportunities? Employee support? Customer support? Special services? Corporate

    communications?

    Organizationally,whowillownsocialmediacommunication? Howwillsuccessbemeasured? WillITsupportberequired? Will there be involvement from internal support organizations? What level of

    involvement?

    Howwillweseparateoutthenoise?GETTINGBEYONDTHESQUEAKYWHEELSYNDROME

    Asecondimportantaspectofanygoodconversationisinlistening. Retailersneedtodecideup

    frontwhattheywilldowiththedirectfeedbackthattheygetfromsocialmedia. Likeanyother

    data,thisnewinformationmustbeprocessed. Forexample,wheredoemployeecomplaintsgo

    to? Customercomplaintsaboutproducts? Aboutservices?Suggestions? Corporateinquiries?

    Justasinfacetofacecommunications,responsestosocialmediacancomeinthreeflavors:

    Competitive listening (not recommended): where the listener is more interesting inhis/herownpointofviewthantheotherpartys;

    Passivelistening:wherethelistenerabsorbsbutdoesnotverifythemessage;

  • 8/6/2019 Social Media for Retail Players

    10/16

    8

    Active listening:where the listener engages, feeds backandverifies themessageandcommitstofollowup.

    Inthecaseofthebusinessuseofsocialmedia,retailersshoulddevelopusecasesbasedon

    theobjectivesthathavebeenestablishedforthetwowaycommunications.

    BEGINTODEVELOPAROADMAP

    As experimentation with social media evolves, retailers need to begin thinking of a future

    scenariowheresocialmediasentiment isinterwovenintothebusinessascustomerinsight.To

    that end, the long term impact of data derived from social media on people, process, and

    technologyneedtobeanalyzed. Onewaytoapproachdevelopingaroadmapistomapthese

    datato the internalbusinessprocesses thatare impacted.That inturnexposes the impactto

    technologiesthatsupporttheprocesses,andthepeoplewhoexecutethoseprocesses.

  • 8/6/2019 Social Media for Retail Players

    11/16

    9

    THERISKS: DONTSTARTUNLESSYOUPLANTOFOLLOWTHROUGH

    TURNINGSENTIMENTINTOINSIGHTISRETAILREADY?

    Asretailerscametolearnintheearlypartofthisdecade,oneaspectoftheInternetthatcanbe

    both exhilarating and alarming is that it is without boundaries, and the potential for rapid

    scaling isreal.Thechallengeforretailerswhen itcomes toany technologyenabledconsumer

    capability is that although the developmental stages of the new capability may be very slow,

    consumer adoption is often dramatic and very rapid. Those retailers that choose to tap into

    consumer sentiment as expressed on social media networks could find themselves

    overwhelmed very quickly by trying to respond to every issue raised. Nor should they be

    tempted not everyone who may comment on service issues or product quality concerns is a

    customer(orever likelytobe).Aninherentproblemwiththenoisefromsocialnetworks,e

    mails,andotherformsofelectronicsentimentisthatthereisnowaytoranktheirimportance,

    andsotheytendtobehandledfirstinfirstout,ifatall.

    Technologyshouldplayaninevitableroleinresolvingthechallengeofgettingpersonalwiththe

    rightcustomersthroughtheuseofsophisticatedtechnologytoturnunstructuredsentiment

    into usable data that can then be meshed with other internal information to create insights.

    However, most retailers dont see the connection between the challenge of consumer

    unpredictability,theopportunityofcreatingasingleBrandidentityacrossallchannels,theuse

    ofsocialmediatogetdirectconsumer inputandtechnology. Inanotherstudypublishedby

    RSRinMay2009,itwasrevealedthatonly30%ofretailers(and32%ofwinners)ratehelping

    thecompanywinnewcustomersandretaincurrentcustomersasatopexpectationofthe IT

    function within their companies.4 Clearly, the industry needs to be informed as to the new

    possibilities. Butonethingshouldbeclear:ifretailersarentreadytofullyengageandprocess

    socialmediafeedbackthattheythemselveshavetriggered,theyriskturningwhatwasintended

    tobeaproactiveoutreachtonewcommunitiesofconsumersintoadisincentive.

    THENETWORKEFFECTASADOUBLEEDGEDSWORD

    OneofthebenefitsconsumersexperiencefromSocialNetworksisasenseofcontrol.Theycan

    speaktotheirpeers.Thosepeersempathize.Andtheanswerstheyreceivetocomplaintsand

    concernsareunscripted,unlikethosetheyreceivefromhighlyscriptedhelpdeskandcustomer

    servicepersonnel. BUTthesesameconsumersperceivetheirnetworksastheirown.

    Social Network Facebooks attempt to change its privacy rules (and declare all posts past,

    presentandfuturetobe itsproperty)metwithserioususerrevolt.Eventuallythetechnology

    providerrelented,andsoftened itsstance. ButasrecentlyasJune2009,amessagefound its

    wayintothousandsofusersstatuses,andevenshowedupintheNewYorkTimes.

    4ITandBusinessAlignmentinRetailBenchmarkStudy,May2009,2009RSRResearchLLC

  • 8/6/2019 Social Media for Retail Players

    12/16

    10

    IMPORTANT ToALLFRIENDS.Facebookhasagreedto letathirdpartyadvertiseruse

    yourpostedpictureswithoutyourpermission.ClickonSETTINGSupatthetopwhereyou

    see the logout link.SelectPRIVACY MANAGE.SelectNEWSFEEDSANDWALL.Select

    thetabthatreadsFACEBOOKADS.Thereisadropdownbox,selectNOONE.ThenSAVE

    yourchanges.Pleasepassthisaround.)

    Onsomelevel,itsnotclearthatthiswasanewpolicybutitwentviral.Fast. Therapiditywith

    which the NetworkEffectcreated thisuproar wasprofound. And its this very thing retailers

    havetowatchoutfor.

    AVOIDKILLINGTHEGOOSETHATLAYSTHEGOLDENEGG

    Weve demonstrated in this report that retailers have a profound opportunity to mine and

    categorize consumers interestsand turn thatdata into dollars. But aswe pointed outabove,

    consumertrustistenuousatbest.Anyovertattempttogobeyondtheconsumersselfdefined

    boundarieswillresultinanimmediatestanchingoftheflowofinformation.Towardsthatend,

    we

    see

    several

    imperatives:

    1. Makeprivacy statementsexplicitand clear: Consumers detest surprises. Make sureprivacypoliciesareeasytoreadandunderstand,short,andsuccinct.Whilesomemay

    sayConsumersdontrealizetheyarephotographedatleast50timesadaytheyhave

    noprivacy,onecannotpresumeonthoseconsumersgoodwill.

    2. Alwaysallowconsumerstooptin: Whenaconsumerbecomesafan,orafollower,oramemberofaretailersowncommunity,theretailershouldalwaysaskpermissiontouse

    the information itgathers. Mostofthetime theconsumerwillagree (afterall, thats

    why shes there, after all), but this type of permissionbased marketing will avoid the

    negativesideoftheNetworkEffect.

    3. Ifaconsumerrequestsaspecificresponse,besuretoanswerit:Fewthingsaremorefrustrating than taking the time to fill out an email feedback form and receiving an

    emailautoreplysayingThanksforyourfeedback. Wedonthavethetimetoanswer

    everyrequest,butwelllookintoit.Thewriterwonders,Doesthisretailerreallycare

    aboutmyopinion? Whydidthesepeopleaskmeforfeedbackwhentheyreallywerent

    goingtodoanythingwithit? Imgoingelsewhere.

    Even as we focus on aggregating the data we get on consumer sentiment, we also must

    rememberthatsentiment isreal.Andconsumersstillhavemanydifferentchoicesofnetworks

    to join and retailers to buy from. Sometimes, disaggregating the data is as important as

    aggregatingit.

    Themistakeoftheearly21stcenturywaspresumingthatselfserviceisalwaysaneffectiveproxy

    for customer service. Retailers now recognize that selfservice technologies have their limits,5

    5TheCustomerCentricStore2008,2008RSRResearchLLC

  • 8/6/2019 Social Media for Retail Players

    13/16

    11

    andsometimes, persontoperson interaction is important. If retailers are toavoidkilling the

    goose that lays the golden egg, we must remember the importance of the human touch. At

    worst, it will put an end to a viral customer complaint, and at best, it will turn an unhappy

    customerbackintoanadvocate.

  • 8/6/2019 Social Media for Retail Players

    14/16

    a

    APPENDIXA:RELEVANTREFERENCEMATERIAL

    Wehaveuseddata(directlyorindirectly)fromthefollowingbenchmarkreportsasbackground

    forthisdocument. AllthesereportsareavailablefordownloadfromRSRswebsite.

    PrecisionInventoryManagementintheAgeofLocalization:BenchmarkReport2009,byNikkiBairdand

    BrianKilcourse,August2009

    WalkingtheRazorsEdge:ManagingtheStoreExperienceinanEconomicSingularity,byBrianKilcourse

    andPaulaRosenblum,June2009

    CustomerCentricMerchandising:DrivingDifferentiationthroughLocalization,BenchmarkReport:2008,

    byPaulaRosenblumandSteveRowen,June2008

    ITandBusinessAlignmentinRetail,byBrianKilcourseandPaulaRosenblum,May2009

    TheCustomerCentricStore:BenchmarkReport2008,by PaulaRosenblum,EditedbyNikkiBaird,June

    2008

    TheNextGenerationofBusinessIntelligence:DrivingCustomerInsightsAcrosstheEnterprise,byBrian

    KilcourseandPaulaRosenblum,August2007

    TechnologyEnabledCustomerCentricityintheStore,byPaulaRosenblum.OriginallyPublishedbyRSAG,

    March2007

  • 8/6/2019 Social Media for Retail Players

    15/16

    b

    APPENDIXB:ABOUTOURSPONSOR

    SAPistheleadingproviderofapplicationsolutionsfortheretailindustry.SAPhelpsretailersof

    allsizestounderstand,anticipateandinspiretheirshoppersbyprovidingacompellingshopping

    experience.TheSAPforRetailsolutionportfolioprovidesspecificsolutionsforretailcompanies

    inthefood,fashionandhardlinesbusinesses.Thesolutionportfolioisbuiltaroundunderstandingthe

    shoppers,orShopperInsight,andconsistsofbuildingblocksthatcovertheareasofMerchandiseLifecycle

    (includingplanning,merchandiselifecyclepricingandpromotionmanagement);SupplyChain(forecast&

    replenishment, supply chain planning and execution); Shopper Experience (workforce management,

    customer loyalty and a portfolio of POS solutions); and Corporate Operations (finance and human

    resources).

    LearnmoreaboutSAPathttp://www.sap.com/retail/

  • 8/6/2019 Social Media for Retail Players

    16/16

    c

    APPENDIXC:ABOUTRSR

    RetailSystemsResearch(RSR)istheonlyresearchcompanyrunbyretailersfortheretailindustry.RSR

    providesinsightintobusinessandtechnologychallengesfacingtheextendedretailindustry,andthought

    leadership and advice on navigating these challenges for specific companies and the industry at large.

    RSRs services include benchmark reports covering the state of retailer technology adoption for topics

    rangingfrommerchandisingandsupplychain,storeoperationsandworkforcemanagement,tocustomer

    facingandmultichanneltechnologies.Customresearchreportsprovidemoreindepthviewsintotopics

    of industry interest, and advisory serviceshelp retailersand technology vendors make themostof the

    insightsRSRprovides.TolearnmoreaboutRSR,visitwww.rsrresearch.com.

    Co pyright 2009 by Reta il System s Resea rch LLC All rights reserved . No part of the c on ten ts of

    this do c ument m ay b e reproduc ed or transmitted in any form o r by a ny mea ns without the

    pe rmission of the pub lisher. Conta c t [email protected] for more information.