Empowering Customers to Drive Multimedia Retail Profits <ul><li>Jeffrey G. Molander </li></ul><ul><li>CEO </li></ul><ul><l...
My Promise
Take Home <ul><li>Trust your instincts </li></ul><ul><li>Create  authentic, mutually respectful  relationships  </li></ul>...
and the biggie… <ul><li>You ALREADY HAVE the Answers </li></ul>
Beaten to the Punch? <ul><li>“ To succeed, we need to stop standing between (consumers) and their content and actually  be...
Look Familiar?
Look Familiar?
Look Threatening?
Web Video: Who’s Cashing In?
 
 
$
Anyone!
Fundamentals
Goals <ul><li>Demystify & Define: Elements </li></ul><ul><li>Identify  </li></ul><ul><ul><li>Changes in customer behavior ...
Buzzwords <ul><li>Social Media & Web 2.0 </li></ul><ul><li>Conversational Marketing </li></ul><ul><li>Experiential Marketi...
Elements of the Social Web <ul><li>Websites (text) </li></ul><ul><ul><li>Blogging </li></ul></ul><ul><ul><li>Social networ...
Elements of the Social Web <ul><li>Mobile </li></ul><ul><ul><li>Opportunity is clear: 2.5 billion mobile phones  </li></ul...
<ul><li>Collaborative </li></ul><ul><ul><li>Shopping </li></ul></ul><ul><ul><li>Working </li></ul></ul><ul><li>Collaborati...
Elements of the Social Web R.S.S.
Elements of the Social Web <ul><li>Websites  </li></ul><ul><li>Multi-Media </li></ul><ul><li>Collaborative  </li></ul><ul>...
Experiential!
What’s Changing?
The New Reality Dr. David Weinberger Author, Speaker, Academic Marketers: “There is no market for your message.”
 
Social ‘Currency’
Social ‘Currency’ <ul><li>An alternate ‘Currency’ for the Web </li></ul><ul><ul><li>Consumer skepticism  </li></ul></ul><u...
Trust as Currency Source: Nielsen 2007 26,486 internet users in 47 different countries
Trust
TIME
Prime Time is ANYtime
Viewing via Web Source: Solutions Research Group 2008 “Prime Time is Anytime” <ul><li>2006 – 2007 2X increase in Web viewi...
 
Sling is THE Thing
New York – Philadelphia Train
Consumers’ Time Online Source: Online Publishers Association (Internet activity Index, January 2008) <ul><li>“ Content ” 4...
Content & Community Sites: Commercial Intent Source: Online Publishers Association (Internet activity Index, January 2008)...
Birds of a Feather… Examples of Content/Community Sites
 
Exclusive Sponsorship
Who’s at the Party?
Evangelists “ Bringing the good news&quot;  Influencing…
“ Passionistas” <ul><li>43% spend 12 hours+ per week visiting sites related to their obsession </li></ul><ul><li>50% of co...
What are they Doing at the Party? <ul><li>CONTROLLING & EXPERIENCING </li></ul><ul><li>Discovering </li></ul><ul><li>Meeti...
(using the Social Web)
SECTION II: How to Empower Customers & Drive Sales (getting invited to the party)
“ You are interrupting their life. All advertising is unwanted.  So if you’re going to crash the party bring some Champagn...
Goals <ul><li>Where to Party  </li></ul><ul><li>Making Champagne </li></ul><ul><li>Who to Invite </li></ul><ul><li>Risk Ma...
Where?
The Party!
Party Planning Making Champagne
3 Types of Social Media Participants Bradley Horowitz Yahoo!
Tools of Production are Affordable Accessible
Rise of The ProSumer Anyone with a… Can be a… Publisher Photo Journalist Radio Host Author
Rise of Curators & Filters
The Business Goal of Social Web Companies Make EVERYONE a creator! 100% - creators 100% - synthesizers 100% - consumers Tr...
YOUR Goal Make everyone an EVANGELIST On  your  turf
Party Planning Customer  Reviews & Word of Mouth
The Recommendation Age Customer-Generated Reviews & Recommendations
Why? Authentic Trust is Implicit Authoritative *Reputation-based
Recommendations Source: Keller Fay Group 2008 <ul><li>Americans have 3.5 billion brand-related conversations per day </li>...
Do Product Reviews Have Impact? Source: The eTail Group 2008
How Are They Expressing Their Preferences, Likes & Dislikes? Increasingly, VIDEO!
 
UGC Sources “ Fan Mail” Product Reviews Contests Product Designs! Community Sites Enthusiast Commercials
UGC Web-Video-Print Integration
Review Integration <ul><li>Walmart.com/ratings </li></ul><ul><ul><li>Store receipts </li></ul></ul><ul><ul><li>Store shelf...
The Risks
Threats to Brands <ul><ul><li>Customer Complaints  (Damage Control) </li></ul></ul><ul><ul><ul><li>No barrier to entry </l...
WHO You Invite Matters
“ It’s moving slowly now for us, but we’re seeing growth and see it as a huge opportunity for users to build hundreds of t...
SECTION III: Designing Experiences
<ul><li>Source:  &quot;Passionistas: The New Empowered Consumer&quot;  </li></ul><ul><li>Conference September 2007  </li><...
Let’s Get Radical Doc Searls Co-author,  The Cluetrain Manifesto Fellow at Harvard’s Berkman Center for Internet & Society...
Content + Community “Crowdsourcing”
$30,000,000 (2007)
Secret Sauce of “Crowdsourcing?”
Emotions! <ul><li>Suppliers (who are customers) </li></ul><ul><ul><li>Approval of community </li></ul></ul><ul><ul><li>Fin...
 
Crowdsourcing!
Building a Roadmap
The world belongs to those companies that… <ul><li>Identify the right micro-verticals where consumers engage deeply </li><...
Experience Creation Process <ul><li>Conception </li></ul><ul><li>Policy </li></ul><ul><li>Planning </li></ul><ul><li>Infra...
 
Case Studies Best Practices
Best Practice: Marketers as Publishers
 
 
 
 
 
 
 
 
Empowering Customers to Drive Multimedia Retail Profits <ul><li>Jeffrey G. Molander </li></ul><ul><li>[email_address] </li...
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ERA Europe 2008 - Home Shopping 2.0 - Jeff Molander

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Jeff Molander's presentation on Empowering Customers to Drive Multimedia/DRTV Profits. Presented at ERA Europe, Monte Carlo, June 2008

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  • Co-founded affiliate &amp; search marketing company Performics recently purchased by GOOG. I’m a CONVERT of short-term focused to long term. Now consulting to DRTV firms, marketers, start-ups &amp; financial services &amp; investment community
  • Transcript of "ERA Europe 2008 - Home Shopping 2.0 - Jeff Molander"

    1. 1. Empowering Customers to Drive Multimedia Retail Profits <ul><li>Jeffrey G. Molander </li></ul><ul><li>CEO </li></ul><ul><li>Molander & Associates Inc. </li></ul><ul><li>[email_address] </li></ul>
    2. 2. My Promise
    3. 3. Take Home <ul><li>Trust your instincts </li></ul><ul><li>Create authentic, mutually respectful relationships </li></ul><ul><li>Be fearless, experimental </li></ul><ul><li>Build trust-centric models </li></ul><ul><li>Embrace long-term thinking (sustainable business!) </li></ul><ul><li>Let customers EXPERIENCE CHOICE! </li></ul>
    4. 4. and the biggie… <ul><li>You ALREADY HAVE the Answers </li></ul>
    5. 5. Beaten to the Punch? <ul><li>“ To succeed, we need to stop standing between (consumers) and their content and actually be the content they want to see … </li></ul><ul><li>With some exceptions, consumers do not want to watch content about your brand. But consumers will watch original programming that supports your brand, if it entertains .” </li></ul>Greg Verdino Crayon
    6. 6. Look Familiar?
    7. 7. Look Familiar?
    8. 8. Look Threatening?
    9. 9. Web Video: Who’s Cashing In?
    10. 12. $
    11. 13. Anyone!
    12. 14. Fundamentals
    13. 15. Goals <ul><li>Demystify & Define: Elements </li></ul><ul><li>Identify </li></ul><ul><ul><li>Changes in customer behavior </li></ul></ul><ul><ul><li>Purchase influence of Web communities </li></ul></ul><ul><ul><li>How video is increasing Web buying </li></ul></ul>
    14. 16. Buzzwords <ul><li>Social Media & Web 2.0 </li></ul><ul><li>Conversational Marketing </li></ul><ul><li>Experiential Marketing </li></ul><ul><li>Consumer Empowerment </li></ul><ul><li>Word of Mouth & Buzz Marketing </li></ul><ul><li>Alternate Reality </li></ul><ul><li>Viral Narrative </li></ul><ul><li>User Generated Content (UGC) </li></ul>
    15. 17. Elements of the Social Web <ul><li>Websites (text) </li></ul><ul><ul><li>Blogging </li></ul></ul><ul><ul><li>Social networks (biz and personal) </li></ul></ul><ul><ul><li>Bookmarking (del.icio.us Ma.gnolia StumbleUpon) </li></ul></ul><ul><li>Multi-Media </li></ul><ul><ul><li>Video (amateur & pro, social networks, etc.) </li></ul></ul><ul><ul><li>Audio & podcasting </li></ul></ul>
    16. 18. Elements of the Social Web <ul><li>Mobile </li></ul><ul><ul><li>Opportunity is clear: 2.5 billion mobile phones </li></ul></ul><ul><ul><li>Less than 2/10ths of a percent of the total advertising spent worldwide </li></ul></ul><ul><ul><li>Source: Informa Telecoms & Media 2007 </li></ul></ul>
    17. 19. <ul><li>Collaborative </li></ul><ul><ul><li>Shopping </li></ul></ul><ul><ul><li>Working </li></ul></ul><ul><li>Collaborative Narcissism </li></ul><ul><ul><li>“ Lifestreaming” & Micro-blogging </li></ul></ul><ul><ul><li>Multi-dimensional (mobile+Web) </li></ul></ul>Elements of the Social Web
    18. 20. Elements of the Social Web R.S.S.
    19. 21. Elements of the Social Web <ul><li>Websites </li></ul><ul><li>Multi-Media </li></ul><ul><li>Collaborative </li></ul><ul><ul><li>Shopping </li></ul></ul><ul><ul><li>Working </li></ul></ul><ul><ul><li>Socializing </li></ul></ul><ul><li>Tech: RSS, Widgets, Java, Ajax </li></ul>
    20. 22. Experiential!
    21. 23. What’s Changing?
    22. 24. The New Reality Dr. David Weinberger Author, Speaker, Academic Marketers: “There is no market for your message.”
    23. 26. Social ‘Currency’
    24. 27. Social ‘Currency’ <ul><li>An alternate ‘Currency’ for the Web </li></ul><ul><ul><li>Consumer skepticism </li></ul></ul><ul><ul><li>Trust & authenticity </li></ul></ul><ul><ul><li>Word-of-mouth recommendations </li></ul></ul><ul><li>Influence </li></ul><ul><li>Challenges </li></ul><ul><ul><li>How to be trusted? </li></ul></ul><ul><ul><li>Authenticity requires transparency! </li></ul></ul><ul><ul><li>What are the tactics? </li></ul></ul>
    25. 28. Trust as Currency Source: Nielsen 2007 26,486 internet users in 47 different countries
    26. 29. Trust
    27. 30. TIME
    28. 31. Prime Time is ANYtime
    29. 32. Viewing via Web Source: Solutions Research Group 2008 “Prime Time is Anytime” <ul><li>2006 – 2007 2X increase in Web viewing </li></ul><ul><li>80,000,000 “putting down remote, picking up mouse” </li></ul><ul><li>February 2008: Nielsen measuring Web audiences </li></ul>
    30. 34. Sling is THE Thing
    31. 35. New York – Philadelphia Train
    32. 36. Consumers’ Time Online Source: Online Publishers Association (Internet activity Index, January 2008) <ul><li>“ Content ” 43 % </li></ul><ul><li>“ Communications” 28.7 % </li></ul><ul><li>“ Commerce” 16.1 % </li></ul><ul><li>“ Community ” 7.5 % </li></ul><ul><li>“ Search” 5.0 % </li></ul>
    33. 37. Content & Community Sites: Commercial Intent Source: Online Publishers Association (Internet activity Index, January 2008) <ul><li>“ Content” + Community = 51 % </li></ul><ul><ul><li>Comparing </li></ul></ul><ul><ul><li>Researching </li></ul></ul><ul><ul><li>Gathering & sharing opinions </li></ul></ul>
    34. 38. Birds of a Feather… Examples of Content/Community Sites
    35. 40. Exclusive Sponsorship
    36. 41. Who’s at the Party?
    37. 42. Evangelists “ Bringing the good news&quot; Influencing…
    38. 43. “ Passionistas” <ul><li>43% spend 12 hours+ per week visiting sites related to their obsession </li></ul><ul><li>50% of consumers will consider buying if it’s associated with their passion </li></ul><ul><li>70% are making purchases based on experiences </li></ul>Source: MediaVest, Yahoo and Conifer Research 2008 Allows them to feel different or better about themselves
    39. 44. What are they Doing at the Party? <ul><li>CONTROLLING & EXPERIENCING </li></ul><ul><li>Discovering </li></ul><ul><li>Meeting </li></ul><ul><li>Trading (barter, auctions, buying) </li></ul><ul><li>Borrowing, cheating and stealing </li></ul><ul><li>Sharing </li></ul><ul><li>Creating! </li></ul>
    40. 45. (using the Social Web)
    41. 46. SECTION II: How to Empower Customers & Drive Sales (getting invited to the party)
    42. 47. “ You are interrupting their life. All advertising is unwanted. So if you’re going to crash the party bring some Champagne with you.” Bob Thacker OfficeMax Inc.
    43. 48. Goals <ul><li>Where to Party </li></ul><ul><li>Making Champagne </li></ul><ul><li>Who to Invite </li></ul><ul><li>Risk Management </li></ul>
    44. 49. Where?
    45. 50. The Party!
    46. 51. Party Planning Making Champagne
    47. 52. 3 Types of Social Media Participants Bradley Horowitz Yahoo!
    48. 53. Tools of Production are Affordable Accessible
    49. 54. Rise of The ProSumer Anyone with a… Can be a… Publisher Photo Journalist Radio Host Author
    50. 55. Rise of Curators & Filters
    51. 56. The Business Goal of Social Web Companies Make EVERYONE a creator! 100% - creators 100% - synthesizers 100% - consumers Try to make it EASIER for everyone to participate in all roles.
    52. 57. YOUR Goal Make everyone an EVANGELIST On your turf
    53. 58. Party Planning Customer Reviews & Word of Mouth
    54. 59. The Recommendation Age Customer-Generated Reviews & Recommendations
    55. 60. Why? Authentic Trust is Implicit Authoritative *Reputation-based
    56. 61. Recommendations Source: Keller Fay Group 2008 <ul><li>Americans have 3.5 billion brand-related conversations per day </li></ul><ul><li>80% trust recommendations from friends, family and “trusted” sources over any form of advertising </li></ul><ul><li>The average American engages in over 10 per day, 8 of which are more influential than any advertisement or paid sponsorship </li></ul>
    57. 62. Do Product Reviews Have Impact? Source: The eTail Group 2008
    58. 63. How Are They Expressing Their Preferences, Likes & Dislikes? Increasingly, VIDEO!
    59. 65. UGC Sources “ Fan Mail” Product Reviews Contests Product Designs! Community Sites Enthusiast Commercials
    60. 66. UGC Web-Video-Print Integration
    61. 67. Review Integration <ul><li>Walmart.com/ratings </li></ul><ul><ul><li>Store receipts </li></ul></ul><ul><ul><li>Store shelf fact tags </li></ul></ul><ul><ul><li>Newspaper circulars </li></ul></ul>
    62. 68. The Risks
    63. 69. Threats to Brands <ul><ul><li>Customer Complaints (Damage Control) </li></ul></ul><ul><ul><ul><li>No barrier to entry </li></ul></ul></ul><ul><ul><ul><li>No truth / validity filter </li></ul></ul></ul><ul><ul><ul><li>Exposure = credibility </li></ul></ul></ul><ul><ul><li>Monitor </li></ul></ul><ul><ul><ul><li>Watchdog Sites (ripoffreport.com) </li></ul></ul></ul><ul><ul><ul><li>Web Communities </li></ul></ul></ul><ul><ul><ul><li>Custom Sites (wakeupwalmart.com) </li></ul></ul></ul><ul><ul><ul><li>YouTube </li></ul></ul></ul>
    64. 70. WHO You Invite Matters
    65. 71. “ It’s moving slowly now for us, but we’re seeing growth and see it as a huge opportunity for users to build hundreds of thousands of ‘commercials’ for [PETCO products].” John Lazarchic Petco
    66. 72. SECTION III: Designing Experiences
    67. 73. <ul><li>Source: &quot;Passionistas: The New Empowered Consumer&quot; </li></ul><ul><li>Conference September 2007 </li></ul>Edwind Wong Dir. Customer Insights Yahoo! &quot;It is not (so much) about the consumer's trust in the brand, but rather… about building the brand out of the consumer's innate needs.”
    68. 74. Let’s Get Radical Doc Searls Co-author, The Cluetrain Manifesto Fellow at Harvard’s Berkman Center for Internet & Society “ Advertising is about supply finding and ‘creating’ demand. [There is] nothing wrong with that. At its best, it’s good and necessary stuff. But think about what will happen when demand can find and create supply .”
    69. 75. Content + Community “Crowdsourcing”
    70. 76. $30,000,000 (2007)
    71. 77. Secret Sauce of “Crowdsourcing?”
    72. 78. Emotions! <ul><li>Suppliers (who are customers) </li></ul><ul><ul><li>Approval of community </li></ul></ul><ul><ul><li>Financial rewards </li></ul></ul><ul><li>Community </li></ul><ul><ul><li>Participatory </li></ul></ul><ul><ul><li>Cause-minded </li></ul></ul><ul><ul><li>Cool-minded </li></ul></ul>
    73. 80. Crowdsourcing!
    74. 81. Building a Roadmap
    75. 82. The world belongs to those companies that… <ul><li>Identify the right micro-verticals where consumers engage deeply </li></ul><ul><li>Activate new or existing consumer communities that welcome advertiser participation </li></ul><ul><li>Make the ‘network effect’ work for you through syndication & aggregation </li></ul><ul><li>Think the way industrial designers think about ergonomics – for us, it’s form factors of media consumption </li></ul>Jeffrey Rayport Founder & Chairman Marketspace LLC
    76. 83. Experience Creation Process <ul><li>Conception </li></ul><ul><li>Policy </li></ul><ul><li>Planning </li></ul><ul><li>Infrastructure </li></ul><ul><li>Beta-testing/planning </li></ul><ul><li>Launch </li></ul><ul><li>Optimization </li></ul>
    77. 85. Case Studies Best Practices
    78. 86. Best Practice: Marketers as Publishers
    79. 95. Empowering Customers to Drive Multimedia Retail Profits <ul><li>Jeffrey G. Molander </li></ul><ul><li>[email_address] </li></ul>
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