Driving Revenues and Building Customer Loyalty Webinar Slides

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Slides for webinar presented with Doug Stephens (@retailprophet) and Ashok Kartham (CEO and founder, Mize Inc.). Sponsored by Mize, presented on April 11, 2013

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Driving Revenues and Building Customer Loyalty Webinar Slides

  1. 1. Today’s WebinarDrive Revenue and Loyalty byEngaging Mobile and Social ConsumersDr. Phil Hendrix Doug Stephens Ashok KarthamFounder and Director, Retail Prophet Founder and CEO, Mizeimmr and GigaOm @retailprophet @mizecomPro analyst@phil_hendrixSponsored by Mize, Inc. April 11, 2013 #smarterengagement
  2. 2. Overview – Topics/Agenda Loyalty and Engagement The Mobile Opportunity Consumer Motivations – Frictions, Shoulds and Wants Consumer Experience and Moments of Truth PEERSM Strategies Mobile Impacts Customer Expectations Key Success Factors m1ize vision/platform Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers2 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  3. 3. For Additional Perspectives, Discussion • The Third Shelf • The End of Marketing • The Future of The Retail Store • The Real Competition Isn’t Your Competitors Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers3 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  4. 4. Loyalty and its Rewards Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers4 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  5. 5. In the Ideal World5. Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers5 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  6. 6. In the Real World, Gears Often Aren’t Aligned Gaps, disconnects and conflicts Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers6 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  7. 7. Symptoms of EDD (Engagement Deficit Disorder) Showrooming Uncertainty Churn Rate Risks Returns Time Costs Marketing $ Failure Rate Indifference Regret Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers7 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  8. 8. “Terms of Engagement” Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers8 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  9. 9. Loyalty is Elusive Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers9 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  10. 10. The Mobile Opportunity “[How long] could your business survive without marketing?” Doug Stephens, @RetailProphet “Soon [your mobile device] will be a remote control for your life5” Peter Fenton, Benchmark Capital, 12/2012 Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers10 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  11. 11. Moments of Truth Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers11 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  12. 12. Are Retailers Delighting Consumers? Avg – 25% Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers12 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  13. 13. The Consumer Journey – aka “The Third Shelf” Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers13 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  14. 14. How Happy Are Consumers? immr Shopping Study Smart phone owners in the U.S. n = 500 Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers14 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  15. 15. Consumer Motivations Minimizing Enabling Maximizing Friction Shoulds Wants Avoid, minimize, “Good for You” Recognition or eliminate (Resolutions) Entertainment Acceptance Education Savings Food Social Fitness Fun Green Cost Annoyances TimeBad outcomes Uncertainty “Satisfice” “Maximize” Risk Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers15 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  16. 16. Engaging Customers with PEERSM Strategies Learn† & Adapt Surprise/ Delight Remove Frictions Reinforce † Securely, with full transparency Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers16 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  17. 17. Mobile Ever Connected Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers17 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  18. 18. Consumers’ ExpectationsTrusted Business Partners should know… Who I What am… Where I I Like am What I What’s respond to Nearby What I’ve What’s bought going On Where Where I’ve been What I’m going I needSource: Dr. Phil Hendrix, How SoLoMo is Empowering Consumers, Transforming Shopping and Disrupting Advertising and Retailing Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers18 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  19. 19. More about PEERSM Strategies Leverage data about consumers and their Personalize context to increase the relevance, timeliness and value of communications, Allows airports to tailor info for travelers based on offers and customer experiences profile, destination Help customers complete tasks and accomplish their goals by minimizing the Enable risk, time, and effort as they shop, Mini owners can detect compare, purchase and use your products other owners, share tips Surprise and delight customers by anticipating and helping them fulfill Enhance functional requirements, emotional needs Guests can manage experience (FastPasses, and aspirations reservations, rides, etc.) Using feedback, encouragement, rewards and social influence, reinforce customers Reward as they engage in behaviors that are Allows hotels to personalize rewards, mutually beneficial experiences based on guest’s social profile Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers19 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  20. 20. Mobile Improves Consumers’ Experience Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers20 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  21. 21. Digital Signals Key to Personalization Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers21 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  22. 22. More on PEERSM StrategiesSee also:Raising the Bar – Mobile and Customer Loyalty†Engaging Connected Consumers – Strategies forBrands, Retailers and Local Businesses† Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers22 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  23. 23. Ready to Engage? Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers23 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  24. 24. Smarter Customer Engagement Ashok Kartham CEO 24
  25. 25. Transform how you engage customersThe overwhelming majority ofadvertising/promotion/marketing/brandinginvestments and expenditures mostorganizations make today are more about"selling things" than "helping customers.“ – Michael Schrage “Invest in Your Customers More Than Your Brand” 25
  26. 26. Transform how you engage customersBrand centric focus Smarter Engagement • Customer- Centric • Want/Intent driven • Relevant/ Personalized to • Utility & Service at every touch point • Helping customers • Advice & Education • Powered by Customers 26
  27. 27. Smarter Customer Engagement Systems of EngagementSystems ofRecord 27
  28. 28. Product Discovery to DecisionFriend’s recommendation Learn more 28
  29. 29. Product Discovery to DecisionCompare Products Friends’ advice 29
  30. 30. Product Discovery to DecisionMy Want List Buy from Retailer 30
  31. 31. Product Ownership and SupportManage all products I own Easy access to Support 31
  32. 32. Product Ownership and Support Warranty status Ext Warranty optionsOrder Accessories or consumables Warranty status & options 32
  33. 33. Consumer-Centric Smart ChannelUnified access to Products, Knowledge, Services
  34. 34. m-ize Smart Blox portfolio Customer touch pointsBranded Customer experience powered by 34
  35. 35. Value for Consumers & Brands Simplify Customer Transform How Experience Brands EngageConsumers make faster & Better sales conversion &more confident decisions <=> accelerated revenueBetter value with product Lower Marketing & Supportpurchase and use <=> cost per CustomerConveniently track all Engage customers at allproducts owned/wanted <=> touch pointsEasier access to Brands and Better customer loyalty &Friends <=> advocacy 35
  36. 36. Q&A Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers36 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  37. 37. Thank You Facebook Twitter Mize, Inc. info@m-ize.com www.m-ize.com YouTube (813) 971-2666 8610 Hidden River Pkwy, Suite 200 Tampa, FL 33637 LinkedIn Blog
  38. 38. Bio – Dr. Phil Hendrix Dr. Phil Hendrix is the founder and director of immr, a research and advisory firm focused on market opportunities afforded by new technologies, and an analyst with GigaOm Pro. He specializes in helping organizations evaluate and capitalize on opportunities that are new>to> customers and new>to>market. Dr. Hendrix has extensive experience uncovering customer needs, identifying triggers and hurdles to adoption, and developing strategies that unlock market opportunities, both B2C and B2B. As an analyst, Phil focuses on mobile innovation and the implications for companies across Dr. Phil Hendrix industries. He is a regular contributor at leading industry conferences, including GigaOm’s Director, immr Mobilize, Structure:Data, Street Fight (hyperlocal), ad:tech, iMedia Summit, Social>Loco and www.immr.org others. His current work focuses on mobile and its impact on consumer behavior, especially +1 (770) 61211488 shopping, M>commerce and mobile payment. phil.hendrix@immr.org As a consultant and advisor, Phil has led significant engagements with startups and Fortune @phil_hendrix 100 clients in mobile, consumer electronics, and related categories, including financial services, transportation, insurance and others. He works closely with senior management and project teams on key issues, including market sizing, segmentation, positioning, and branding as well as innovation, user experience, and customer retention. Over the course of his career, Phil has helped clients conceive and successfully launch dozens of new products, services and businesses. Before founding immr, Phil was a partner with DiamondCluster (strategy and technology consultancy), founder and head of IMS (Integrated Measurement Systems), and a principal with Mercer Management Consulting (now Oliver Wyman). He has held faculty positions at Emory University and the University of Michigan, where he taught courses in marketing, research, and buyer behavior for MBAs and executives. While at Michigan Dr. Hendrix also held a joint appointment as a research scientist in the Survey Research Center, Institute for Social Research. Additional information on immr perspectives and reports prepared by Dr. Hendrix is available at immr and Slideshare, with additional information available at GigaOm Pro. Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers38 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  39. 39. Bio – Doug Stephens Doug Stephens is the founder of Retail Prophet and is one of the worlds leading retail industry futurists. He is an in>demand speaker for global organizations, governments and trade associations on the future of consumerism. Dougs work has influenced many of North Americas best>known retailers and brands including Wal>Mart, Home Depot, Razorfish, Citibank, Disney, WestJet and Air Miles. His thinking has been featured in publications like Advertising Age, Profit, Canadian Business, The Globe & Mail and Forbes. Doug Stephens www.retailprophet.com Prior to founding Retail Prophet, Doug spent over 20 years in the retail industry. He has held @retailprophet senior international roles including the leadership of one of New York Citys most historic retail chains. He is the author of the groundbreaking book, The Retail Revival: Reimagining Business For The New Age of Consumerism. Doug is also a regular guest on the acclaimed television series App Central TV and a contributor to CBC Radio. He sits on the advisory boards of a mobile technology company and the Dx3 digital conference. Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers39 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement
  40. 40. immr – Recent and Forthcoming Reports Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers† Engaging Connected Consumers – Strategies for Brands, Retailers and Local Businesses† If Shopping is Broken, Can Mobile Fix it?† Raising the Bar – Mobile and Customer Loyalty† Social + Location + Mobile: SoLoMo Analytics and the Transformation of Shopping† How Consumers Are Using Local Search Mobilizing the Enterprise with Custom Mobile Solutions: Pt. 1 and 2 The Promise of Hyperlocal: Opportunities for Publishers and Developers Tuning into Consumers’ Digital Signals How SoLoMo is Empowering Consumers, Transforming Shopping, and Disrupting Advertising and Retailing Location – the Epicenter of Mobile Innovation † Forthcoming Drive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers40 Webinar sponsored by Mize – April 11, 2013 © immr 2013 – #SmarterEngagement

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