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How “associate-first” learning drives more sales and satisfactionNovember 15, 2016
Agenda• The State of Bricks and Mortar
Retail• The Bottom-line Impact of
Knowledgeable Store Associates• At Home’s Shift • A New Model: Turning Store
Associates into Bottom-Line Boosters
• A Peek Into Future
Carol LeamanCEO, Axonify
Mandy MonkHR Executive, At Home
The state of retail
The smart shopper
85%Prefer to shop at a physical store
4.7HRS
72%
2/3
On their smartphone everyday
Perform research before heading into the store
Check prices on their smartphone while in-store
84%of shoppers believe that retailers should be doing more to integrate their online and offline channels … so they are.
Rise of the smart storeSTORE APPS BEACONS SMART SHELVES/CARTS VIRTUAL REALITY STORE ANALYTICS
RETAIL’S MAIN EVENT: BRICK & MORTAR VS. ONLINE, RETAILNEXT
The overlooked secret weapon? The store associate
Shoppers rank store associate knowledge as the single most important factor to making the store shopping experience better.
PWC, TOTAL RETAIL SURVEY, 2016
71%of shoppers feel that the retail associate isn’t knowledgeable
or helpful.
And so the knowledge balance is getting worse.
RETAIL’S MAIN EVENT: BRICK & MORTAR VS. ONLINE, RETAILNEXT
Something doesn’t add up
THE CORPORATE LEARNING FACTBOOK 2014: BENCHMARKS, TRENDS, AND ANALYSIS OF THE U.S. TRAINING MARKET, BERSIN BY DELOITTE 2015 TRAININGINDUSTRY
$130BSpent on training per year
$702Spent on each employee per year
Hrs54An employee spends training
Not enough34%
Don’t receive any training
48%Receive training only a few times per year
58%Training isn’t effective
57%Boring and they forget what they learned
Needs improvement
AXONIFY IPSOS REID RESEARCH
The business impact is hugeStore operations and L&D must own the learning problem togetherSVP STORE OPERATIONS
Dollars Per Transaction
Customer Satisfaction Safety Incidents
Customer LoyaltyShrink
Onboarding
70%Gallup
Disengaged
66%Hay Group
Turnover
POLL:
What is most important to you? A. Increasing Conversions and Dollars per TransactionB. Increasing Customer Loyalty/SatisfactionC. Speed Associate Onboarding/Reduce Onboarding CostD. Reducing Safety Incidents and ShrinkE. Reducing Turnover
What associates want learning to look like
70%learning that’s
short, non-disruptive and consumable
76%more regular and frequent training
88%Fun and engaging
92%Personalized and relevant to them
AXONIFY IPSOS REID RESEARCH
Best-of-breed retailers are innovating associate knowledge
AXONIFY IPSOS REID RESEARCH
54%Safety Incident
reduction
2More vehicle sales
per month
90%Onboarding time
Reduced
55%Shrink
reduction
Who is At Home? Home Décor Superstore
14
• Large Scale Format• Unparalleled
Assortment• High Growth
5
15
Why A Modern Approach to Associate Training?
The Switch… to At Home
17
Learning Philosophy
18
What Have We Achieved?
19
KnowledgeLiftCorrelation
Participation
Average knowledge levels increased by 14%
Those who participated between 20 – 30 times per month had an average knowledge lift of 18%
Participation levels average 92%
Training frequency is 2-3 times per week
How do results show in our business?
20
Our Next Adventure
21
A New Model: Turning Store Associates into Bottom-Line Boosters
The Store Associate• Unconnected – no desk, corporate
email• Busy on-the-floor dealing with
customers • More to know than ever before
(smarter shoppers, dynamic promotions, safety)
• Have grown accustomed to point-of-need access (thanks to mobile devices & Google).
• Traditional tools just aren’t delivering
• A lean, do more with less reality - competing demands for labor hours
• Low store associate engagement and participation in learning.
• When store associates don’t know & do the right things, that costs retailers big money.
• Struggle to tie learning to behavior change and bottom-line impact.
The Modern Retailer
Omni-channel Strategy Execution
Sales/upsell and In Store Conversion Techniques
Onboarding/Fundamentals
Leadership and Talent Growth
Customer Satisfaction/ Loyalty Techniques
Marketing/Promotion Activities
Safety and Compliance
Shrink/Loss Prevention
Deep Product and Competitor Knowledge
Messages from-the-top, Brand/Culture
How do you get all of this knowledge into an associates head?
Store Associates
For the first time ever, retailers can measure the impact of their learning efforts on knowledge growth through to associate behaviors and ultimately your bottom-line.
Axonify focuses on driving associate knowledge, ensuring that they have what they need - in their heads or at their fingertips - to effectively do their jobs.
Starting with the End
Starting with the end
Starting with the end
Starting with the end
Starting with the end
A dollars per transaction example: shoe retailer
Increase attach rate of Shoe Protectant
with every shoe sale from 6% to 15%
A dollars per transaction example: shoe retailer
1. Ask customer whether they have appropriate shoe protectant
2. Describe benefits of shoe protectant
3. Highlight shoe protectant promotion
Increase attach rate of Shoe Protectant
with every shoe sale from 6% to 15%
A dollars per transaction example: shoe retailer
1. Ask customer whether they have appropriate shoe protectant
2. Describe benefits of shoe protectant
3. Highlight shoe protectant promotion
Increase attach rate of Shoe Protectant
with every shoe sale from 6% to 15%
Did they demonstrate knowledge on both
upsell techniques and shoe protectant benefits
and promotion?
A dollars per transaction example: shoe retailer
1. Sales Upsell Technique2. Shoe Protectant
Positioning and benefits
learning and reinforcement modules
Did they demonstrate knowledge on both
upsell techniques and shoe protectant benefits
and promotion?
1. Ask customer whether they have appropriate shoe protectant
2. Describe benefits of shoe protectant
3. Highlight shoe protectant promotion
Increase attach rate of Shoe Protectant
with every shoe sale from 6% to 15%
Exclusive to Axonify:
Axonify Learning Model™The perfect combination of:
• Where they need it• When they need it • How they’d like to access it
Learning at the point of need
A peek Into the future: The Employee Knowledge
Platform for retail
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Axonify’s promise is simple. It’s to make your store associates more knowledgeable, so that they can perform better and your organization can fully realize its potential.
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will power the retail store of the future
Associate knowledge
How “associate-first” learning drives more sales and satisfactionQ & A
Attend our retail leadership panel discussion: The Future of Store Associate Training
Visit us at Booth #719!Not registered? Retailers can use the Axonify Invitation code and register for free!Invitation Code: 2803Booth Number: 719
Date: January 16Time: 1:30 – 2:30Location: Level 1 Expo Room 1