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WWW.ROHITBHARGAVA.COM @ROHITBHARGAVA 12 Big Ideas Transforming Retail & Ecommerce How eRetailers Can Prepare For The Future Best Selling Author of Likeonomics Founder of Influential Marketing Group KEYNOTE : Presented July, 2012 Washington DC ROHIT BHARGAVA by
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@ROHITBHARGAVA ABOUT THIS PRESENTATION: THE BACKSTORY This presentation was originally delivered live to an audience of some of the biggest online (and real life) retailers in the world at the Shop.org Merchandising Summit. Most of the slides used here are visual and stories were told verbally – but I have added descriptions for each trend to help anyone viewing the presentation online to better understand their meaning. The examples remain in visual format only – as hearing them in person is the only way to really get the full impact. Rohit Bhargava 2-Time TEDx Speaker Nice Guy
Trend #1: Pervasive Shopping What
Is It? Thanks to mobile devices and new forms of retail integration, we can now shop anytime and anywhere. What Does It Mean? Offering the ability to purchase in multiple channels, and integrating with third party ecommerce networks is key.
Trend #2: Retail Curation What
Is It? A sea of choice leads retailers to use curation to narrow choice and offer more personalized experiences to buy and share. What Does It Mean? Consumers are growing to expect more custom and personalized experiences and share them readily with others.
Trend #3: Story Trumps Product
What Is It? Storytelling takes a fundamental role in creating a narrative that inspires people to buy a (sometimes) undifferentiated product. What Does It Mean? When products are easily replicated and do not necessarily stand out alone, better storytelling is the secret weapon.
Trend #4: Being Useful Sells
What Is It? While “conversation” gets a lot of attention today, consumers buy from companies that provide value by being useful. What Does It Mean? Often the best value from digital tactics comes by educating instead of trying to have a “dialogue.”
Trend #5: Analytics Everywhere What
Is It? More and more tools, products and online services allow us to measure, track and chart each and every aspect of our lives. What Does It Mean? As consumers continually receive “life data” – this will influence the decisions they make and products they buy.
Trend #6: Instant Visual eCommerce
What Is It? The longtime promise of being able to click any image to view and purchase a product is finally becoming a reality. What Does It Mean? Finding ways to link product imagery in any form (across the web) to ecommerce pages will become more important.
Trend #7: Eliminating Agony What
Is It? After years of romantic fascination with social media, usability becomes a priority to improve customer experience again. What Does It Mean? As more sites begin with a mobile-centric design, consumers expectations of extreme simplicity increase.
Trend #8: Rewarding Activity What
Is It? “Engagement” continues to be loosely defined as brands reward simple activities like clicking a button or showing up. What Does It Mean? Consumers will expect more rewards for activity, but may offer their social capital/networks in exchange.
Trend #9: Unexpected Honesty What
Is It? As brand humanity continues to be a major macro trend in business, consumers reward companies that are honest unexpectedly. What Does It Mean? Being proactive with sharing the logic and truth behind your business is a powerful way to build trust.
Trend #10: Real Time Ethical
Consumerism What Is It? Consumers now have the tools to uncover which companies behave ethically in real time, to impact everyday purchase decisions. What Does It Mean? Companies that behave in unethical ways can no longer depend on that information being hidden or hard to find.
Trend #11: Social Personalization What
Is It? Retailers personalize not only by interest & purchase history, but also by social context of what friends like and recommend. What Does It Mean? Influencing consumers takes not only a focus on offers and benefits, but also through social context.
Trend #12: Co-Created Retail What
Is It? User generated media has been popular for years in marketing – but now is finally extending to on shelf and eRetail. What Does It Mean? The affiliate model that has been so successful in ecommerce is extending to include any entrepreneur.
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