The Future by Figures
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The Future by Figures

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This presentation was given by Econsultancy senior research analyst Andrew Warren-Payne at FeWeb's 'The Future is Back' event on April 1st 2014. ...

This presentation was given by Econsultancy senior research analyst Andrew Warren-Payne at FeWeb's 'The Future is Back' event on April 1st 2014.

In his talk, Andrew highlighted the continual existence of "The Gap" in digital marketing between what companies want to be doing and what they are actually doing. Based on the decreasing longevity of companies, this gap presents a real danger for companies who do not seek to close it.

This gap is being created by the constant pace at which consumer behaviour is changing, driven by speed of developments in technology. And just as mobile and multichannel customer behaviours are proving a challenge to companies today, the emergence of the 'Internet of Things' will again change customer behaviour in the future.

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  • Gap between what marketers think is important versus what they are actually doing
  • Bigger than all other categories

The Future by Figures The Future by Figures Presentation Transcript

  • Andrew Warren-Payne Senior Research Analyst @agwp The Future by Figures April 1st 2014, FeWeb, Brussels
  • | The Future by Figures| 2 The Gap The Behaviour The Device
  • | The Future by Figures| 3 1994 Netscape browser released Where have we come from?
  • | The Future by Figures| 4 1994 Netscape browser released 2014 $1.2 trillion sold online Where have we come from? Source: eMarketer
  • | The Future by Figures| 5 Photo credit: Mark Hilary on F
  • | The Future by Figures| 6 “A great customer experience is key to driving brand loyalty.” 89% Source: Econsultancy / Sitecore Customer Lifetime Value Report
  • | The Future by Figures| 7 “A great customer experience is key to driving brand loyalty.” “We understand the key digital touchpoints within the customer lifecycle.” 89% 55% Source: Econsultancy / Sitecore Customer Lifetime Value Report
  • | The Future by Figures| 8 Photo credit: 123dan321 on stock.xchng Source: Econsultancy / Whatusers Do UX Survey Report of companies say they are committed to delivering good UX.78%
  • | The Future by Figures| 9 Photo credit: 123dan321 on stock.xchng Source: Econsultancy / Whatusers Do UX Survey Report of companies do user experience testing.55% of companies say they are committed to delivering good UX.78%
  • | The Future by Figures| 10 Just 16% of companies have integrated customer touchpoints across physical and digital to a “large extent”. Source: IBM C-Suite Study
  • | The Future by Figures| 11 Photo credit: Magnus D on Flickr
  • | The Future by Figures| 12
  • | The Future by Figures| 13 Photo credit: Andy Harding, House of Fraser The Behaviour…
  • | The Future by Figures| 14 2,000 consumers told us about retail
  • | The Future by Figures| 15 say multichannel shopping is “very important”40% Source: Multichannel Retail Survey
  • | The Future by Figures| 16 Multichannel cuts across all age groups 53% 38% 28% 37% 49% 54% 11% 13% 18% 18 - 34 35 - 54 55 + Source: Multichannel Retail Survey
  • | The Future by Figures| 17 Mobile users are nearly twice as likely to visit brand websites… …and nearly twice as likely to shop from more than four retailers. Source: Compete
  • | The Future by Figures| 18 Photo credit: nkzs on stock.xchng Multichannel consumers are much more profitable
  • | The Future by Figures| 19 Multichannel customers spend 3.5x more than others
  • | The Future by Figures| 20 Photo credit: wikimedia.org The Device…
  • | The Future by Figures| 21 Photo credit: wikimedia.org If more than half of shoppers are multichannel (online and offline) today…
  • | The Future by Figures| 22 Photo credit: wikimedia.org If more than half of shoppers are multichannel (online and offline) today… …how will they shop in the future?
  • | The Future by Figures| 23 1950s The experience of the store 2010s The experience of the screen 2020s The experience of the connected device
  • | The Future by Figures| 24 The Explosion in Figures 2009 0.9bn connected devices Source: Gartner. Figures exclude smartphones, tablets and PCs.
  • | The Future by Figures| 25 The Explosion in Figures 2009 0.9bn connected devices 2020 26bn connected devices Source: Gartner. Figures exclude smartphones, tablets and PCs.
  • | The Future by Figures| 26
  • | The Future by Figures| 27 Ask Yourself: How can my brand use devices to transform the lives of our customers? Source: Adapted from Pine and Gilmore, The Experience Economy (in Econsultancy’s Progression of Agency Value Report)
  • | The Future by Figures| 28 Ask Yourself: How can my brand use devices to transform the lives of our customers? Source: Adapted from Pine and Gilmore, The Experience Economy (in Econsultancy’s Progression of Agency Value Report)
  • | The Future by Figures| 29 STORE SCREEN CONNECTED DEVICE Which connected device provides the right door for a transformative experience?
  • | The Future by Figures| 30 Mind the Gap! Photo credit: R Henlsey on flickr
  • | The Future by Figures| 31 All rights reserved. No part of this presentation may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsulancy.com Ltd 2014. Econsultancy reports Customer Lifetime Value Report https://econsultancy.com/reports/customer-lifetime-value User Experience Survey Report https://econsultancy.com/reports/user-experience-survey-report The Progression of Agency Value https://econsultancy.com/reports/the-progression-of-agency-value The Multichannel Retail Survey https://econsultancy.com/reports/the-multichannel-retail-survey Digital Transformation: Agility and Innovation Best Practice Guide https://econsultancy.com/reports/digital-transformation-agility-and- innovation-best-practice-guide