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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The Gap
The Behaviour
The Device
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1994 Netscape browser
released
Where have we come from?
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1994 Netscape browser
released
2014 $1.2 trillion sold
online
Where have we come from?
Source: eMarketer
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Photo credit: Mark Hilary on F
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“A great customer experience is
key to driving brand loyalty.” 89%
Source: Econsultancy / Sitecore Customer Lifetime Value Report
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“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
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Photo credit: 123dan321 on stock.xchng
Source: Econsultancy / Whatusers Do UX Survey Report
of companies say they are
committed to delivering good UX.78%
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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%
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Just 16% of companies have
integrated customer touchpoints
across physical and digital to a
“large extent”.
Source: IBM C-Suite Study
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Photo credit: Magnus D on Flickr
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Photo credit: Andy Harding, House of Fraser
The Behaviour…
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2,000 consumers
told us about retail
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say multichannel shopping is
“very important”40%
Source: Multichannel Retail Survey
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Multichannel cuts across all age groups
53%
38%
28%
37%
49%
54%
11% 13% 18%
18 - 34 35 - 54 55 +
Source: Multichannel Retail Survey
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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
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Photo credit: nkzs on stock.xchng
Multichannel consumers are much
more profitable
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Multichannel customers
spend 3.5x more than
others
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Photo credit: wikimedia.org
The Device…
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Photo credit: wikimedia.org
If more than half of shoppers are multichannel
(online and offline) today…
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Photo credit: wikimedia.org
If more than half of shoppers are multichannel
(online and offline) today…
…how will they shop in the future?
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1950s The experience of
the store
2010s The experience of
the screen
2020s The experience of the
connected device
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The Explosion in Figures
2009 0.9bn connected
devices
Source: Gartner. Figures exclude smartphones, tablets and PCs.
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The Explosion in Figures
2009 0.9bn connected
devices
2020 26bn connected
devices
Source: Gartner. Figures exclude smartphones, tablets and PCs.
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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)
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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)
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STORE
SCREEN
CONNECTED DEVICE
Which connected device
provides the right door for
a transformative
experience?
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Mind the Gap!
Photo credit: R Henlsey on flickr