Dynamics 365 for retail

I thought I would start a blog series on how Dynamics can benefit specific sectors and industries. The most obvious place to start with such a series felt like retail as while it clearly has its nuances there are aspects of retail that all businesses can relate to whether B2B or B2C.

Dynamics offers so many benefits across all industries, hopefully you’ll read something here that you can see being of benefit in your organisation. If not, don’t worry, I’m sure we’ll cover your specific sector in more detail in future instalments of this blog series, so watch this space.

Retail industry trends

It’s no secret that digital transformation is radically changing the retail industry. Today’s digital native consumers expect to browse products and reviews from their home or on their commute, and move between devices and stores, without missing a beat.

47%

of digital customers desire a consistent personalized shopping experience across channels.1

50%

of shoppers use smartphones to complete in-store purchases.2

At the same time, digital-centric business models are pushing the bar ever higher, causing retailers to reevaluate and reimagine their business models. Plus, many retailers are dealing with outdated, disconnected technology systems that make it difficult to glean meaningful insights.

The time to exceed expectations is now 

Today’s retail consumers are more concerned with price and customer experience than brand. However, competing on price alone puts you at a strategic disadvantage to larger retailers and won’t help you grow your business. 

Instead, moving to a modern CRM and business application platform can help you deliver against many of your top initiatives: 

  • Immersive shopping experiences. Elevate your brand and encourage buying behaviour by engaging customers with a personalised retail experience.
  • Exceptional service. Help your employees deliver outstanding customer service with powerful tools.
  • Strategic planning. Ensure the right products appear at the right stores at the right time.

How can Dynamics help you transform?

At D365 Life Without Code we see an opportunity for Dynamics to help businesses build brand loyalty, increase conversion rates, and strengthen insights into customer behaviour.

Foster brand loyalty with omnichannel experiences.

Companies with omnichannel customer engagement strategies retain about 89% of their customers.1

Empower employees to provide outstanding service 

61% of retail store managers believe that shoppers are better connected to product information than in-store associates.3

Strengthen strategic planning and merchandising 

75% of cross-functional teams are dysfunctional.4

Explore scenarios for your employees and customers

Remain consistent

Remain consistent across channels 

Deliver frictionless, omnichannel experiences across physical and digital channels to improve the customer experience. Holistically understand customer activity across channels.

Build relationships

Build profitable relationships

Use the relationship assistant to build stronger, more profitable relationships with contextual recommendations based on embedded intelligence. 

Customer activity

Gain a complete view of customer activity across channels

Utilise a system dashboard to gain a single view of direct customer feedback, see key metrics around system performance, and know whether customer problems are being resolved.

The benefits of Dynamics for retail business are virtually endless. Not only can D365 Life Without Code help you get the most out of Dynamics and ensure that all of the out of the box features are working for you the best they can be, we can also further enhance the Dynamics offering with some fantastic additions to make it even more powerful. Take a look at our Partners page to see what else is possible with the best CRM for the retail industry.

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Sources

  1. Stacey Rudolph. “10 Notable Omnichannel Trends and Statistics [infographic].” Business2Community. April 22, 2016. https://www.business2community.com/infographics/10-notable-omnichannel-trends-statistics-infographic-01520137#fWhS1pr5EPBFxAh2.97
  2. “From mall to mobile: Adjusting to new consumer habits.” 2018 Global Consumer Insights Survey. PwC. 2018. https://www.pwc.com/gx/en/industries/consumer-markets/consumer-insights-survey/new-consumer-habits.html
  3. “Rise of the Connected Shopper: 61 Percent of Retail Managers Report Consumers Better Informed Than Associates.” Business Wire. December 19, 2012. https://www.businesswire.com/news/home/20121219005034/en/Rise-Connected-Shopper-61-Percent-Retail-Managers
  4. Behnam Tabrizi. ”75% of Cross-Functional Teams Are Dysfunctional.” Harvard Business Review. June 23, 2015. https://hbr.org/2015/06/75-of-cross-functional-teams-are-dysfunctional