Is the Consumer Experience Broken - NAKU - Dr. Phil Hendrix

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Presentation to the NAKU Conf., Helsinki, May 14, 2014, Dr. Phil Hendrix, immr

Presentation to the NAKU Conf., Helsinki, May 14, 2014, Dr. Phil Hendrix, immr

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  • 1. 1 Helsinki – May 14, 2013 © immr 2013Is Shopping Broken?– Presentation to NAKU (Helsinki)May 14, 2013Dr. Phil HendrixDirector, immr and GigaOm Pro analystwww.immr.org1 (770) 612,1488phil.hendrix@immr.org@phil_hendrixthe Consumer ExperienceBased on report:
  • 2. 2 Helsinki – May 14, 2013 © immr 2013Grading the Retail Shopping Experience†Consumer Experience (CX) End,to,EndMobile Impacts on CX†Consumer MotivationsPEERSMStrategiesConsumer ExpectationsOverview†Source: immr Shopping Survey n = 500 U.S. consumers
  • 3. 3 Helsinki – May 14, 2013 © immr 2013Convenience StoresWarehouse ClubsDiscount StoresGrocery StoresDrug StoresDepartment StoresConsumer ElectronicsHome ImprovementWhich Stores Are Consumers “Happy” with?Source: immr Shopping Survey
  • 4. 4 Helsinki – May 14, 2013 © immr 2013Which Stores Are Consumers “Happy” with?1. Warehouse Clubs2. Discount Stores3. Grocery Stores5. Drug Stores6. Department Stores7. Consumer Electronics4. Home ImprovementSource: immr Shopping Survey *Convenience Stores not testedBestWorst
  • 5. 5 Helsinki – May 14, 2013 © immr 2013How Happy Are Consumers with Retailers?1. Warehouse Clubs2. Discount Stores3. Grocery Stores5. Drug Stores6. Department Stores7. Consumer Electronics4. Home ImprovementOn Average:1 in 4“Very Happy”Source: immr Shopping Survey
  • 6. 6 Helsinki – May 14, 2013 © immr 20131 in 4 “Very Happy”53% “Very Happy”vs.How does that compare to Amazon?BrickandMortarSource: immr Shopping Survey
  • 7. 7 Helsinki – May 14, 2013 © immr 2013Why Does this Matter?
  • 8. 8 Helsinki – May 14, 2013 © immr 2013Why is Loyalty So Elusive?
  • 9. 9 Helsinki – May 14, 2013 © immr 2013Discover ChooseBuyUseCX = What Consumers Do
  • 10. 10 Helsinki – May 14, 2013 © immr 2013End,to,End Consumer Experience
  • 11. 11 Helsinki – May 14, 2013 © immr 2013End,to,End View of Customer Experience
  • 12. 12 Helsinki – May 14, 2013 © immr 2013CX: Annoyances and Friction,less Aspects†Source: immr Shopping Survey
  • 13. 13 Helsinki – May 14, 2013 © immr 2013Mobile Improves Consumers’ Experience
  • 14. 14 Helsinki – May 14, 2013 © immr 2013immr Shopping Study – Pt. 220 Mobile Appsn = 500 Consumers
  • 15. 15 Helsinki – May 14, 2013 © immr 2013Other immr Research Findings62%“Try to buy things whenthey are on sale, even ifit means waiting”77%“Like to shop forbargains”58%“Like to browse instores, just to see what’snew”
  • 16. 16 Helsinki – May 14, 2013 © immr 2013Conclusion
  • 17. 17 Helsinki – May 14, 2013 © immr 2013Consumers’ MotivationsMinimizingFrictionTimeAnnoyancesUncertaintyCostBadoutcomesRiskEnablingShouldsFitnessSavingsSocialGreenEducationMaximizingWantsFunFoodAcceptanceAvoid, minimize,or eliminate“Satisfice” “Maximize”EntertainmentRecognition“Good for You”(Resolutions)
  • 18. 18 Helsinki – May 14, 2013 © immr 2013In the Ideal WorldI.
  • 19. 19 Helsinki – May 14, 2013 © immr 2013Gears Often Aren’t AlignedGaps, disconnects and conflicts
  • 20. 20 Helsinki – May 14, 2013 © immr 2013Symptoms of EDD† †(Engagement Deficit Disorder)ShowroomingReturnsChurn RateMarketing $Failure RateUncertaintyTimeRisksCostsIndifference Regret
  • 21. 21 Helsinki – May 14, 2013 © immr 2013“Terms of Engagement”Right timeRelevantPersonalizedRewarding
  • 22. 22 Helsinki – May 14, 2013 © immr 2013Consumer ExpectationsWhatI LikeWho Iam… Where IamWhat’sNearbyWhat’sgoing OnWhat Irespond toWhat I’veboughtWhereI’ve been WhatI needWhereI’m goingSource: Dr. Phil Hendrix, How SoLoMo is Empowering Consumers, Transforming Shopping and Disrupting Advertising and RetailingTrusted Business Partners should know…
  • 23. 23 Helsinki – May 14, 2013 © immr 2013Engaging Customers PEERSMStrategies†Securely, with full transparencyReinforceSurprise/DelightRemoveFrictionsLearn†&Adapt
  • 24. 24 Helsinki – May 14, 2013 © immr 2013Digital Signals Key to Personalization
  • 25. 25 Helsinki – May 14, 2013 © immr 2013Using Metaphors to Innovate CX
  • 26. 26 Helsinki – May 14, 2013 © immr 2013Additional Perspectives††Request copies at www.immr.org
  • 27. 27 Helsinki – May 14, 2013 © immr 2013Bio – Dr. Phil HendrixDr. Phil HendrixDirector, immrwww.immr.org+1 (770) 612,1488phil.hendrix@immr.org@phil_hendrixDr. Phil Hendrix is the founder and director of immr, a research and advisory firm focused onmarket opportunities afforded by new technologies, and an analyst with GigaOm Pro. Hespecializes in helping organizations evaluate and capitalize on opportunities that are new tocustomers and new to market. Dr. Hendrix has extensive experience uncovering customerneeds, identifying triggers and hurdles to adoption, and developing strategies that unlockmarket opportunities, both B2C and B2B.As an analyst, Phil focuses on mobile innovation and the implications for companies acrossindustries. He is a regular contributor at leading industry conferences, including GigaOm’sMobilize, Structure:Data, Street Fight (hyperlocal), ad:tech, iMedia Summit, Social Loco andothers. His current work focuses on mobile and its impact on consumer behavior, especiallyshopping, M commerce and mobile payment.As a consultant and advisor, Phil has led significant engagements with startups and Fortune100 clients in mobile, consumer electronics, and related categories, including financialservices, transportation, insurance and others. He works closely with senior managementand project teams on key issues, including market sizing, segmentation, positioning, andbranding as well as innovation, user experience, and customer retention. Over the course ofhis 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 technologyconsultancy), founder and head of IMS (Integrated Measurement Systems), and a principalwith Mercer Management Consulting (now Oliver Wyman). He has held faculty positions atEmory 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 alsoheld a joint appointment as a research scientist in the Survey Research Center, Institute forSocial Research.Additional information on immr perspectives and reports prepared by Dr. Hendrix is availableat immr and Slideshare, with additional information available at GigaOm Pro.
  • 28. 28 Helsinki – May 14, 2013 © immr 2013immr – Recent and Forthcoming ReportsDrive Revenue and Customer Loyalty by Engaging Mobile and Social Consumers†Engaging Connected Consumers – Strategies for Brands, Retailers and LocalBusinesses†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 SearchMobilizing the Enterprise with Custom Mobile Solutions: Pt. 1 and 2The Promise of Hyperlocal: Opportunities for Publishers and DevelopersTuning into Consumers’ Digital SignalsHow SoLoMo is Empowering Consumers, TransformingShopping, and Disrupting Advertising and RetailingLocation – the Epicenter of Mobile Innovation †Forthcoming
  • 29. 29 Helsinki – May 14, 2013 © immr 2013Appendix
  • 30. 30 Helsinki – May 14, 2013 © immr 2013Are Retailers Delighting Consumers?
  • 31. 31 Helsinki – May 14, 2013 © immr 2013Moments of Truth