Street Fight-How Back-Office Innovation is Transforming Local Marketing
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Street Fight-How Back-Office Innovation is Transforming Local Marketing

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Over the past few years, we’ve watched as a host of payment processing, point-of-sale and scheduling services have popped up, helping local businesses manage day-to-day operations in more efficient ...

Over the past few years, we’ve watched as a host of payment processing, point-of-sale and scheduling services have popped up, helping local businesses manage day-to-day operations in more efficient ways. Using the cloud, these ‘commerce’ software plays have begun to undercut a number of large legacy companies, shaking up industries which have remained static for decades. In a new report, Street Fight takes a look at the impact of supply-side technologies on the local marketing industry, detailing the opportunities and risks that these emergent services present to existing solutions providers.

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Street Fight-How Back-Office Innovation is Transforming Local Marketing Street Fight-How Back-Office Innovation is Transforming Local Marketing Presentation Transcript

  • STREET FIGHT INSIGHTS HOW BACK-OFFICE INNOVATION IS TRANSFORMING LOCAL MARKETING @ 2013 Hyperlocal Industries Inc.
  •   The  majority  of  commerce  happens  locally.   $4.4 Trillion in U.S. Retail Spend 95% ‘Local’ $4.2 Trillion in In-Store/Offline Retail Spend 5% Online $.19 Trillion in Ecommerce Retail Spend @ 2013 Hyperlocal Industries Inc.
  • That ‘local’ commerce (the 95%) is being reinvented by the Internet. FIND Far beyond the yellow pages, a web of data providers combine basic information with rich content to help consumers make purchase decisions about where to shop. BUY A flood of food trucks gave mobile payments a testbed for the sophisticated digital options that are making the cash register an ancient relic. RETRIEVE RETRIEVE Ecommerce revolutionized the mundane logistics of getting goods to consumers; but new technological tools let local businesses get in on the game, too. ENGAGE ENGAGE Forget mailing lists; emerging CRM systems build on this datarich local stack to bring consumers back in new ways, and personalize their in-store experience like never before. @ 2013 Hyperlocal Industries Inc.
  • Demand-Side Media Social Media Email Loyalty Services Commerce In-store At-home Scheduling/ Reservations Payment processing (in-store, online) Mobile Fulfillment Credit Cards/ Payment Apps Services/Platforms CRM Businesses that sell goods and services locally Inventory Search Supply-Side Consumers who buy goods and services locally Technology vendors develop tools for each side of the local market, serving consumers (demand) and businesses (supply) Services/Platforms @ 2013 Hyperlocal Industries Inc.
  • Over the past decade, the bulk of the innovation has occurred on the demand side. Companies built large businesses aggregating consumer demand, and selling that demand to advertisers Yelp Launches Google Local Released 2003 2004 2005 Groupon IPOs Yellow Pages Revenues Peak $15.3 B 2006 2007 2008 Foursquare Founded 2009 2010 Patch Expands 2011 Yellow Pages Revenues Sink $7.5 B 2012 2013 @ 2013 Hyperlocal Industries Inc.
  • Innovation is shifting to the supply side, where vendors use cloud technology to bring key operations systems online. Payments CRM/Analytics Scheduling/ Booking Point-of-sale @ 2013 Hyperlocal Industries Inc.
  • So how does this relate to marketing? The job of the digital marketer is to bring together demand and supply, facilitating commerce. STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • With mobile adoption nearing ubiquity, the demandside of the marketplace is already in place. A supply side platform solves two looming problems for the local marketing industry: 1 2 Connectivity at Point-of-purchase No way to measure actions (walk-in, payment) in-store Software Silozation Lots of different systems, incapable of ‘talking’ to another (e.g. sharing data) STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • Social Consumer STREET FIGHT INSIGHTS Inventory Search Transactions Business Email Reservations Supply-Side Demand-Side Soon, with both sides of the marketplace online, vendors will have the ability to automate the way consumers (demand) and businesses (supply) interact. @ 2013 Hyperlocal Industries Inc.
  • When demand- and supply-side systems are linked, vendors can push users into a reservations or booking system, helping marketers measure success and “close the loop.” Social Inventory Data is generated when consumers engage with businesses Search Email Demand-Side STREET FIGHT INSIGHTS Social Ordering Reservations POS Supply-Side @ 2013 Hyperlocal Industries Inc.
  • Vendors can also use data, generated by the supply-side system (e.g. inventory, purchase history), to target consumers and generate creative automatically. Data, generated during operations, informs how merchants engage with consumers Ordering Reservations Supply-Side STREET FIGHT INSIGHTS POS Search Email Social Demand-Side @ 2013 Hyperlocal Industries Inc.
  • By automating the content creation and attribution processes, vendors will be able to simplify the workflow for local businesses. This will reduce adoption costs, expanding the addressable market and accelerating the shift of spend from analog to digital. STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • The emerging supply-side systems will serve as a platform for marketing software, making businesses’ data and back-end systems easily accessible to vendors. This will dramatically reduce the sales and support costs associated with growing a local marketing service, enabling smaller firms to scale efficiently and with less capital. STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • Street Fight believes the companies that will succeed in local marketing will integrate supplyand demand-side systems through internal product development or strategic partnerships STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • Companies across the local marketing landscape range from those with weak digital marketing capabilities and no operations offerings, to the market-leading combination of strong automated marketing and operations offerings for businesses, whether through product expansion or partnership. STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.
  • The Local Marketing Landscape 2013 This chart represents a handful of key companies innovating digital demand- and supply-side business models in local marketing and their legacy predecessors. There are of course thousands more companies in the entire local marketing ecosystem. Company Partnership Innovators Intuit Foursquare STREET FIGHT INSIGHTS GanneB   . Patch   Yelp Facebook   @ 2013 Hyperlocal Industries Inc.
  •   This  deck  is  based  on  the  full  report     “How  Back-­‐Office  Innova=on  Is  Transforming   Local  Marke=ng.”   Author:     Steven  Jacobs,  Deputy  Editor,  Street  Fight   steven@streeFightmag.com   For  informaGon  and  consultaGons,  please  contact   info@streeFightmag.com   STREET FIGHT INSIGHTS @ 2013 Hyperlocal Industries Inc.