As we head towards this year’s Black Friday, retailers both in the UK and around the globe are preparing for one of the busiest shopping periods of the whole year. We take a look at how NetSuite is providing retailers the tools for success for Black Friday 2019.
From multi-channel retailers, to single eCommerce stores – teams of all sizes are preparing for expected peaks in traffic and sales. As Black Friday generates fierce competition between retailers, we see businesses go above and beyond heavy discounting in order to maximise profits. Additional promotions and a focus on customer experience amongst other strategies are also used to gain that competitive edge. With these kind of challenges choosing the right tools to generate success is paramount and is where NetSuite has become an integral part of business operations for thousands of companies around the globe today. With this in mind, let’s take a look at some NetSuite features which are benefiting retailers using during the Black Friday period.
Discounts and promotions
Slashing prices is central to a Black Friday campaign and so gaining a transparent overview of all your inventory prices and promotions should be central to operations too. With NetSuite, you not only gain complete control over your inventory but it enables you to generate appealing and actionable customised offers based on customer preferences and a one-to-one marketing strategy. With updates visible in real-time you have the tools to make data driven based adjustments to maximise profits. Features include multiple price levels, customer and currency specific pricing to percentage discounts and promotional codes.
Email campaigns are still very effective with reports revealing that it drives more than 24% of traffic for retailers during the holiday season with social media driving just 1.1% in comparison. With figures like these dictating the importance of an email campaign, it is a good idea to come up with a way to keep potential customers updated on expected discounts before and during the Black Friday sales. With NetSuite you can personalise emails and target your campaigns with target list creation for better ROI. You can also gain real-time insights and track the performance of emails which have been sent. With instant feedback, NetSuite gives you the manoeuvrability to make fast and intelligence-based decisions throughout the campaign period.
360-degree customer view
Gaining a full overview of how each customer has interacted with your brand becomes integral, especially if you are operating as an omnichannel retailer. A single customer may interact with your brand in several ways both online and offline so consolidating that data into one single database is important for streamlining operations not only in the warehouse, but also for maintaining good customer support levels. By combining your databases, you can also offer your customers multiple options on how they would like to receive their order such as them buying online and picking up in store. With NetSuite’s CRM solution, gaining a 360-degree overview of each customer gives you a view on data such as orders, tracking numbers and customer interactions. It is also a base for generating upselling strategies, so with your customers’ preferences you can customise offers, discounts and the related products which are offered to them.
Customers now want to interact with a brand at any time, anywhere, on any device and across channels
In order to give customers that seamless experience, companies need to look at their omnichannel presence and infrastructure which enables customers to purchase and return items any way they wish, be it by brick and mortar shop, online or by phone. NetSuite enables you to do this by enabling unified front and back-end systems across channels which can be managed from one core platform. This will enable smoother customer processing and experience.
Campaign tracking and historical data
NetSuite offers comprehensive campaign tracking and with it being in real-time you gain more time to make necessary adjustments through your sale period. View and respond to customer purchase history and interactions in order to generate follow-up offers and promotions. Customised dashboards can be generated in order for you to view the most relevant data to your role. Moreover, throughout your Black Friday campaign NetSuite is storing information which can be used for analysis as and when needed. This comparative data can be used for example when planning a Black Friday campaign the following year as you can review what worked best in previous years. You can answer questions such as which products sold the best and for what price? Which promotions worked alongside discounts and which did not work so well? How much stock did we sell? Use this data to plan, replicate or improve your Black Friday campaign year on year.
For decision making on the go
Being on the cloud, NetSuite offers the unique position for business owners and employees with the advantage of accessing data not only in real-time, but on the go. For short campaigns such as Black Friday, receiving updates and making swift changes can turn a good campaign into a great one.
Cloud based IT solutions from NoBlue
For almost 20 years NoBlue have been committed to supporting businesses reach their goals utilising software solutions. By deploying NetSuite, it enables businesses to attain a streamlined, agile and cost effectiveness infrastructure no matter the industry or size of business. Not only this, but the ongoing relationship with clients means that when you are ready to either change or scale-up your operations, NoBlue will be there. When Leisure Outlet approached NoBlue to develop an ERP solution and follow this up with the best in class website to integrate into it, the results did not disappoint:
“It is the relation with NoBlue what keeps us working with them. They are always there when needed. Black Friday was launch date for the new website, but wasn’t working properly, not appearing in Google… all the NoBlue team stopped everything else they were doing and sorted the problem. In fact, we had the best Black Friday ever. It was NoBlue’s drive and willingness to roll sleeves what made it happen.” Mark Crosby – Owner/Managing Director
Black Friday is a campaign which when done right, can be hugely successful for a business. Utilising NetSuite to help streamline processing in an ever demanding retail environment will save you time, money and can help you achieve both short and long term goals.
Are you a retailer looking for ways to streamline operations? Would you like to learn more about how NetSuite can improve your campaigns? Get in touch with us today and we will be able to answer any questions you may have.