Presentation from Mentor Session with Q&A discussing Deborah Weinswig's move from Wall Street to Silicon Valley/Silicon Alley and advice for startups on how to work with Wall Street.
3. Profitect
The Profitect software solution
uses pattern analytics to identify
revenue reducing activities, and
integrated task management
provides timely, detailed, and
guided actions to resolve the
issue. Improvements to the top
and bottom line are continuously
measured, ensuring
sustainability across the
business.
iInside
We help our client measure,
engage and optimize offline
locations with actionable
performance location analytics
derived from in store shopper
behavior measurement and
shopper engagement.
6. ● 1997-1999 - Strategist - Morgan Stanley
● 1999-2002 - Managing Director - Bear Stearns
● 2002-2013 - Managing Director - Citi Group
○ Top II Broadlines analyst from 2003-2013
○ Top II Food and Drug analyst from 2005-2013
● 2013-Present - Profitect
7. Intro to Tech Sector
● Scott Friend
● Guy Yehiav
● Oracle Retail Strategy Council
● Annual report ranking who was best and who was worst
from a tech perspective
● Conference with Bain Retail VC Practice
8. Wall Street to Silicon Valley
● October 14, 2013
● 3 Companies asked me to be on their Board of Advisors
○ Profitect
○ Tradestone
○ Rubin Singer
● Profitect was looking for a Chief Customer Officer
● Left Citi on October 28, 2013
● Started with Profitect on October 29, 2013
9. Why I Chose Profitect
● Focused on brick and mortar retailers, in addition to
other retail channels
○ Ensure success
○ Survival of traditional retail channel
● Work with developers/REITs and help REITS and
retailers
10. Big vs. Small
● Moving from a company of 250,000 to a company of ~50
● A single administrative assist
● Cost conscious
● Many remote employees
● Learning new technology
○ Google Hangout
12. Early Career
• In-Store Boots on Ground Retail
• Sales and Management in Luxury and Department Stores
• Wholesale Side
SHIFT to Retail Technology nearly 10 years ago
• Video Technology and Analytics – Not so fancy name then
• Predictive Analytics
• Then came MOBILE
13. Why Mobile and Location Analytics
• Clients got smarter
o Once clients mastered initial data and driving results questions became
more detailed – what was happening inside the store
• Hints that Mobile was growing
o With the predictive analytics the company was adopting a cross channel
strategy – saw mobile growing
• Risk and Possibility
o Took the opportunity join a mobile company, took the risk and knew that
it was the right time and right place
14. Mobile
• Dynamic platform
• Fluid - moves with customers
• Mobile adoption rapid pace
• Connect with the consumer
• Generate lots of data
And I love data…
16. Evangelist
• They don’t know what they don’t know
• Not techies
• Definitely not data scientists
How to sell the value?
• You have to create the value
• Understand their business, speak to their key issues, not all issues
• Business challenge you are solving
• Jason Fried- 37 Signals/Basecamp – Job you are hired to do
17. 1. Who you are
2. What you do
3. Why you do it
4. Why Should They Care
• Clear message to the market of
who you are
• Point of view
• Business challenge or new
opportunity you are evangelizing
• How does this help them improve
or optimize
18. Always keep in mind
They do not know what they do not know
(even if they tell you they do)
19. • Tendency to talk tech
o Need to speak plainly
• Cool stuff it does
o Features are good but
Value is where it’s at
• Clients believe they know
your tech
o Make sure to clean up
gray areas
• New technologies
• Control your message
• Control the scope
• Start with the easy stuff, show
improvement, then move to
next
20. Collect
Data
Bring
together
data
to
create
a
profit
hub
at
a
frac5on
of
the
5me
Get
the
story
Pa8ern
logic
automa5cally
iden5fies
the
“story”
from
your
data
Take
Ac2on
Automated
opportunity
delivery
with
associated
best
prac5ces
and
tasks
ensure
consistent
execu5on
• Measure the current status
• Apply your solution
• Identify the opportunity
• Take Action
• Measure Results
22. Make it Proactive Relationship … Retailers move at a snails pace
• Increased data and capabilities
• Increased stakeholders
• Increased number decision makers
• Increases sales cycle
• Slows down the Revenue Generation
Challenge: Speed up the process 9-12 month sales cycle
25. Deborah Weinswig
Chief Customer Officer
Anne Marie Stephen
Vice President Retail Sales and
Customer Development
M: 312.613.4434
O: 714.685.9776 x2006
E: amstephen@iinside.com
@IndoorAnalytics
@AnneMarie_ams