Watchfinder presentation from BDMF 2013

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  • 1. brighton digital festival 2013 lloyd amsdon brand director & co-founder
  • 2. introductionwf&co.’s digital marketing • The company, the brand, the customer • a typical marketing month • the impact of going offline • creating success in the watch world • the future
  • 3. about usestablished in 2002
  • 4. £92M value of watches sold to date 12,000number of daily visits £3200average customer spend 35kmonthly marketing budget 51members of staff 50,000digital magazine readership
  • 5. .co.uk time services royal exchange customer eventsthe watch magazine e-commerce watch servicing retail publishing services & events international
  • 6. the brandrepositioning watchfinder • brand positioning • brand personality • key messages • communication statements • tone of voice key messages service knowledge independence & choice engaging respectful knowledgeable inclusive & positive trust expertise & innovation brand personality tone of voice
  • 7. brand equityAgainst other retailers both pure play and high street watchfinder watches of Switzerland mappin and webb watches.co.uk jura watches
  • 8. brand equityAgainst watch brands bremontraymond weilpaneraipatek philippewatchfinder
  • 9. Aalpha territory bprofessional rewards gcareer & kids oliberal opinions mosiac profileswho are our customers our customers
  • 10. customer lifestyle successful, substantial wealth & influential executives, significant equity & comfortable children, good incomes & comfortable homes young singles, degree level educations & creative jobs A b g o A b g o
  • 11. where our customers livebond street vs the city visits 251,996 london 86,469 manchester 5,348 birmingham 5,290 liverpool 4,872 leeds 4,762 edinburgh 3,642 sheffield 3,622 glasgow 3,532 newcastle upon tyne 3,319 norwich 3,269
  • 12. the luxury watch buyerthe behaviour of our customers • r.o.p.o • traditional and online media • early adopter • choice, convenience and knowledge • loyal and exacting • warranty, buy-back and part exchange • new luxury experience 94%trust pilot score 35%repeat business
  • 13. marketing monthwhat happens in a typical month
  • 14. emailthree sends a week • special offers • new arrivals • news & reviews • 190,000 recipients • 11% opens • 2.75% clicks tuesday friday sunday
  • 15. eventssix events every month • masterclasses • pop-ups • friday club • corporate days
  • 16. social mediatwo instances every day • twitter • facebook • instagram • pinterest • linked-in • google + • partnerships
  • 17. videoenriching content • website • you tube • 1000 views a week • partnerships
  • 18. passionate about watches print edition wf&Co. issue one watChfinder&Co. time is running out for the traditional watchmaker. can wf&co.’s tony williams step in? page 4 t hebiscuittinidealofawhite-hairedwatchmaker, bent double at his bench as he labours over a movement from the first screw-turn to the last, is a scene not long for this modern world. The traditional, timeworn artisan is being rapidly eclipsed by someone cheaper, easier to train and ultimately less traditional - the sequential worker. Think of sequential watchmaking as you would a car assembly line: each worker along a chain has a specific duty, adding a screw, tightening a bolt, gradually piecing together the final product. Not a particularly romantic scene, granted, but it gets the job done, and each worker requires only minimal training. But what of the traditional watchmaker? And those who want to follow in his footsteps? It seems their future is bleak - but then again, perhaps not... continued on page 6 Investing in watches has proven lucrative over the years - is it still worth investigating? The Watch Magazine reviews a selection of the latest watches to hit the market Explore The Royal Exchange and the City of London when you visit the WF&Co. boutique marketwatch inreviewwithtwm out&about 12 14 16 the inside man a place in the city NewspaperFinalAM.indd 1 12/09/2013 09:16 printengaging through direct mail • re-engagement • in-store • new orders • unique offer Watchfinder Invicta House, Pudding Lane Maidstone, Kent, ME14 1NX the Wf&co. Boutique The Royal Exchange, Bank City of London, EC3V 3LQ Tel. +44 (0) 844 247 8884 www.watchfinder.co.uk Watchfinder.co.uk Ltd, Registered in England 04524723 at 37 St Margarets Street, Canterbury, Kent, CT1 2TU Special Offer Dear Mr Smith Ut id expla doluptatum volorrum il estior aligenis que qui audi nonem vercimus invel ipsae consequia sum res eos doloratqui odit, odio eos am hitior sinvele cesequam que et exerferupta consequo tenda nonem que num quam, acest, ipsam, venisit, nulparum quaturit quametur recat repre venditiur ad utem cus as dit fugiam qui volorro blanis coreperero qui cum ipsam ditatur? Umqui quatiam doluptatet endisti sciatur, sequi aut quo odi rem laut labo. Soluptae evelest, solendemqui volut ipsum fugiandis et ullab ipisqui as sitiorror aut et rae dem velendist quia nis volo officia quat eosame comnis doluptatur? Ceped que omnis ut eri illuptat evendandunt ra alignam nam id et quibus ipsamet pro estem dolupta mendiaeces quam re nossinciet que dit lit excearc hilloritam qui cus molecti adi derepel iquam, que nobitas res num aut opta nulles is ad eatur, opta con nonsequid quia volo blabo. Ut re labore rem in nimusdae serit plam, omnitib erianto occaess inveliquo offictus sitas vollit dus ni ipid evelibus exped ullenimet ulparcid unt. Cestrum et eos andandigenis demporeium qui volupta quidel illatet rem ullut harum et quiassi Yours Sincerely Lloyd Amsdon Lloyd Amsdon
  • 19. the watch magazinequarterly digital publication • 90,000 app. downloads • >50,000 readers per issue app. 70% browser 30% • >10 mins average dwell time
  • 20. press releasesengaging the press • lifestyle • business • industry
  • 21. events videohttp://www.youtube.com/watch?v=Gq7ErMKE8kc
  • 22. the wf&co. boutiquefive weeks to take our proposition offline
  • 23. store impactbuilding trust in the brand • re-positioning • trade profile • partnerships • destination • confidence and conversion
  • 24. 400 350 300 250 200 150 100 50 0 450 500 550 600 650 Units Months 700 Nov‘12Oct‘12 Dec‘12 Jan‘13 Feb‘13 Mar‘13 Apr‘13 May‘13 June‘13 July‘13 Aug‘13 store impacthow offline has aided online online sales store sales
  • 25. store marketingsupporting the store • email by location • ppc by location • newspaper drops • direct mail • television £240,000
  • 26. creating successin the watch business
  • 27. the productliving up to your promise • quality • choice • knowledge • the service centre
  • 28. DIRECTORSMANAGERSSTAFFEXTERNAL AGENCIES/ CONSULTANTS SERVICING DATA DISPATCH H.R. SALES (ONLINE) SALES & PURCHASING (RETAIL) CUSTOMER SERVICES PURCHASING & COMMISSION ACCOUNTS MARKETINGI.T. LEGAL ADMIN (SERVICING) CHERYL C. LAURA H. MANAGING DIR. STUART H. OPERATIONS DIR. STUART H. SERVICING DIR. MATT B. BOARD OF DIRECTORS SHAREHOLDERS CFO JOHN H. SALES MANAGER ALEX S. RETAIL MANAGER SIMON M. HUMAN RESOURCES & DISPATCH MNG. JADE C. TECHNICAL DIR. TONY W. OPERATIONS MNG. SEAN D. DATA SIMON F. PURCHASING MNG. JON B. LEGAL AMY C. BRAND DIRECTOR LLOYD A. CREATIVE DIRECTOR DAN B. SENIOR DEVELOPER STEVE L. IT DIRECTOR JON G. FRONT END SEAN J. PUBLIC RELATIONS FIELD COMMUNICATIONS PAYROLL REEDS ONLINE MARKETING PERISCOPIX MAGAZINE (BUILD) APTUS MAGAZINE (DESIGN) TALL TREE WATCHMAKER TREVOR P. DESIGN MANÉ B. ACCOUNTS AST. BEVERLEY A. HAYLEY S. PURCHASING SAM B. COMMISSION JENIFFER F. DEP. RETAIL MNG. MICHAEL H. SENIOR SALES MARTIN A. RETAIL PURCHASING OLIVER W. DISP. (SERVICING) EMILY B. DISP. (ONLINE) TBC DISP. (RETAIL) NEHA M. TRN. WATCHMAKER SARAH JANE S. QUALITY CONTROL THOMAS M. AST. SALES MNG. TOM HOLLAND CUSTOMER SERVICE NATALIE P. SALES KIERAN N. TERRY R. SALES (FRANCE) CHARLOTTE V WATCHMAKERS PHIL C. PETER A. CLEANING TECHNICIAN WILL C. POLISHING ROBERT P. DAVE W. SCOTT R. LYDIA V. JASON R. BEN W. CONTENT ANDREW M. PHOTOGRAPHY JACK S. TOM P. DATA AST. ZOE J. MARKETING (OFFLINE) ROB B. MARKETING (ONLINE) GARY R. INVICTA HOUSE LOCATION POSITION ASCOT HOUSE ROYAL EXCHANGE DIRECTOR (4) SHARED RESPONSIBILITY MANAGER (8) STAFF (39) COMPANY STRUCTURE JULY 2013 investing in staffcreating the perfect team
  • 29. staff experiencefrom the old to the new tony williams servicing director simon Moody store manager andrew morgan editor
  • 30. rolex submariner 16610 a new section he know when hes with a view orth. Buying a re than simply g asset - in fact n net modest en substantial re putting the inthehotseat. ews that the nsiblepurchase y growth and ideal control Market watch. acingtheshort- was current for he 116610 took saw extensive lex, making it nt (see graph). around £1,200, in early 2011, eadily in price rrp 1988 (£) 1200 inflation (£) 1500 (3.3% Pa) appreciation by 2013 (£) 1400 = 4100 final rrp 2011 (£) 4120 Watches solD at WatchfinDer in 2012 rolex rrp average pre-oWneD sales price 5000 4000 3000 2000 1000 2003 2004 2005 2006 2007 yeaR value (£) 2008 2009 2010 2011 2012 2013 1.5% 16610 submariners 5.8% non-16610 submariners dIScOntInued; PRe-Owned valueS cOntInue tO RISe laRge RRP RISe; PRe-Owned valueS fOllOw afteR 1 yeaR 50th annIveRSaRy; PRe-Owned valueS acceleRate uPwaRdS Watch spec
  • 31. the futurewhat’s next for wf&co.? • even more choice • additional stores • a watchmaking academy • complimentary new watches • additional products • event sponsorship • ambassador model • the brand journey