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SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
SoLoMo...Fashion's Runway to the Digital World
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SoLoMo...Fashion's Runway to the Digital World

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In an industry of erratic consumer demand and short product life cycles, marketing in the fashion industry is a tough terrain to conquer. Add to that a highly fragmented social media landscape and you …

In an industry of erratic consumer demand and short product life cycles, marketing in the fashion industry is a tough terrain to conquer. Add to that a highly fragmented social media landscape and you face a task that that may resemble Mount Everest. Believe it or not, there is a way to scale this beast. The term "SoLoMo" has been coined to refer to the incorporation of a social, local, and mobile marketing strategy. By combining the three you can create a strong customer community and brand advocate base.

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  • Alex do general introduction
  • Alex
  • Briarley will present overview of retail marketplace, challenges, etc. (can probably use blog as a sort of script to accompany)
  • Briarley – moderate growth but it is increasing
  • Briarley – competitive forces in the market. Main concern Rivalry & New Entrants. Why? Moderate growth, low capital outlay & low barriers to entry
  • Briarley – need to increase switching costs by raising brand loyalty & reduce customer acquisition costs by effectively mapping customer behaviour
  • Briarley – Stella & Dot an example. Herrin increased sales avenues to the customer. Trunk shows, not imposing the brand, rather offering customers a chance to invite and engage the brand
  • Briarley – Showrooming issue. But can be turned around. You need to entice people to the store and then give them a reason to buy there and then. Today hopefully we can show you ways to combat this.
  • Jess will transition into “so this is where social media can come in and help you emerge in the marketplace and gain back some of the power from the buyer.”
  • Jess transitions into how social commerce is only increasing in trend, how brands are using social networks and why people should get involved etc.As you can see social commerce sales are expected to continually increase over the next few years, reaching $30 billion by 2015.
  • Jess
  • Jess talk about how since retail and brand sites still most purchase, really important to optimize for mobile as well and really get the brand out there as many ways as possible. Once again social media still really important because of consumer’s frequency of use, so finding ways to combine social and mobile are key.
  • Jess: Getting into the mobile space and mobile purchasing. Although ecommerce is still a small part of retail sales, it is growing faster than offline retail.
  • Jess: since mobile is outperforming PC, make your mobile/tablet site faster than your desktop site - Google found that 20% of people abandoned pages when the load time increased by half a second. This can have an important impact on e-commerce sites, with a one second delay resulting in a 7% reduction in conversions.
  • Jess: The US mobile advertising market is growing far faster than expected, driven by the rapid ascension of Google’s mobile search advertising business, advertisers’ growing attraction to display inventory on tablet and smartphone devices, and the growing roster of mobile ad networks. We’ve seen a growth in real-time marketing/advertising (such as with Oreo’s “dunk in the dark” twitter ad during the Superbowl) which enables companies to reach people on the move and add an element of surprise and spontaneity when engaging with customers, keeping advertising from becoming predictable, and enhancing the user experience. Native advertising has also been implemented, to avoid the “banner ad” type of advertising on mobile, companies are integrating their advertising more into the user experience. Consumers look at native ads 53% more often than they look at traditional display ads. They are many routes to take with mobile advertising and a continuing search to enhance user experience. Mobile consumption is a multi channel experience, so you should be able to optimize that to engage with users throughout the day.
  • Jess: Over 50% of consumers are willing to post about products/services on social networks if they get a deal or discount.
  • Alex to go over case studies / social tactics.
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  • Transition back to Jessica: so we’ve touched upon the value of social, and a bit about mobile, so where does the local element come into play? Talk about how on sites like Facebook you can add in these local elements, tag locations, etc.Because brick and mortar locations are using sites like Facebook as a social commerce interface it’s important to tie these social networks to their physical location and find ways to connect them.Social graph unlocks personal big data to power social discovery, awareness and action, so through this you can connect your brand to your users’ interests. Social graph connections are based on shared personal connections with social objects (i.e. the merchandise you’re selling). By combining graph data (social and interest) with commercial data, shopper marketers can deliver a more tailored, relevant shopper experience. Example: Amex. By allowing their customers to link their Amex cards to their Facebook accounts and Twitter hastags, American Express was able to analyze their Interest Graphs and dynamically recommend merchant offers based on likes and check-ins. They took this a step further by allowing their customers to link those offers to their cards.
  • Jess
  • Jess can talk about and personalize to her generationAlso geo-location app that through opt in it can know you’re in store and give you suggestions based on your data.Applications for this evolved approach to Social Merchandising are almost endless. Retail manufactures should start to create hyper-customized and socially informed offer boutiques for all of their key customer segments. Retail distribution platforms should start to consider how Social Merchandising may inform their circular innovation efforts.
  • Jess:So here’s some examples of what we were just talking about (apps)This is an early example – this type of trend and using SoLoMo concept has been around as far back as 2010 – Brought Digital Commerce to Life by combining In-Store Shopping With the Digital Luxuries of Social, Online and Mobile Capabilities: Macy's Magic Fitting Room featured, as you can see, a large-scale mirror with multi-touch technology that interacts with a multi-touch tablet and lets customers browse, shop and "try-on" the latest must-have items virtually, with the magic of style at the user's fingertips. Flip through the hottest tops, dresses, bottoms and coats from some of Macy's top designers and once complete you can send the whole experience to your Facebook page, SMS, or email, and shop all the looks in the store itself. As the role of retail changes and the lines between physical and digital continue to blur, agencies are tasked with providing innovative solutions that help marketers enhance the customer experience
  • Jess: Another popular choice for your social media promotions via mobile is to use a QR code.What’s great about the QR code is it employs traditional methods of static advertising (placed on window, bus, bench ads and more) yet when scanned, brings you into the mobile world, leading a user right to your choice of URL. This creates a unique user experience where they may come across the QR code by chance in their mobilized lives, but then it brings them to you through their device.
  • Jess: Facebook promo and using Facebook as a store front – about 20% of shoppers already prefer buying products through a brand’s Facebook page compared to its website.
  • Transition to Alex: So this is where the trends are going, what’s next?
  • Alex
  • Alex
  • Transition to Briarley – so we’ve seen how each of these can add to your success…..so why not?
  • Briarley – what does mobile do? It offers great geographic precision when it comes to your customer now giving you the option to actually measure and quantify customer behaviours
  • Briarley – benefits of experience. Data from mobile is enriched to give the customer better experience with brand.
  • Briarley – benefit for you is efficiencies as a business. CRM solutions.
  • Briarley – benefit engagement. Mobile now optimizes your online and offline data allowing you increased engagement scores.
  • Briarley – benefit of branding. Extend the branding opportunities.
  • Briarley – most important measurability for key stakeholders.
  • Briarley do quick intro into how this is actually a product and the following are capabilities that it has, but a lot of these also apply to principles you can implement without actually having a product.
  • Alex: next steps, here’s what you do next, wrapping up.
  • Alex: next steps, here’s what you do next, wrapping up.
  • Alex: next steps, here’s what you do next, wrapping up.
  • Alex wraps up
  • Alex wraps up
  • Transcript

    • 1. www.social2B.com
    • 2. www.social2B.com Contents  The state of play in the US Retail Sector  Marketing success for the Fashion Industry  The Mobile Phenomenon  The 3 Cs of new customer’s engagement (content, commerce, and community) 2  Fashions next big thing … SOLOMO  Why do you need to be aware of it?  Why your customers will start using it?  What you need to do next @social2b @AccessoryNews #S2BSoLoMo
    • 3. www.social2B.com 3 • US Economy in recovery phase • Retail sales driven by personal income, interest rates and consumer confidence • Retail sales trends mimicking US economy • Retailers need to take advantage of merchandizing, supply chain management and marketing US Retail Industry: Market Overview
    • 4. www.social2B.com 4 • Growth in the US Fashion Retail sector is moderate at 4.2% • Forecasted growth of 28.8% by 2017 to US $671,776 million US Apparel, Accessories & Luxury Goods Industry: Growth What will your stake be?
    • 5. www.social2B.com 5 US Apparel, Accessories & Luxury Goods Industry: Industry Analysis Summary Source: MarketLine Advantage
    • 6. www.social2B.com 6 The market forces summary Source: MarketLine Advantage With forces of such as Intense Rivalry and Threat of New Entrants brands need to: • Reducing customer acquisition costs • Increasing customers switching costs
    • 7. www.social2B.com 7 Combining the forces successfully Sources: Stella and Dot; mobify.com Case Study – Stella and Dot • Stylist trunk shows available in-home and online: – When the Stella & Dot team explored the analytics of their website, they discovered that the stylists – the company’s most influential user base – were increasingly accessing the site from tablet devices. Tablets gave the stylists an easy way to showcase all of the website’s inventory at their in-home trunk shows. When customers wanted to make a purchase, the stylists needed to easily process transactions on the spot – without having to switch devices. • Successful combination of e-commerce, social media and highly personalized and enhanced user/shopping experiences.
    • 8. www.social2B.com 8 Contemporary issues: Showrooming • Customers inspecting merchandise in brick-and-mortar prior to searching and purchasing online. • Create unique in-store experience to drive traffic to the store and encourage purchasing. • Encourage customer experience and design opportunities. • Product differentiation.
    • 9. www.social2B.com 9 Social Media ‘Enablers’
    • 10. www.social2B.com 10 Social Commerce Market – 2010-2015
    • 11. www.social2B.com 11 Social Commerce – Sharing and Social Influence February, 2013 90% Of Customers Will Recommend Brands After Social Media Interactions (Internet Advertising Bureau recent study)
    • 12. www.social2B.com 12 Social Commerce – Brand Interaction April, 2013March, 2013
    • 13. www.social2B.com 13 Social Commerce – Mobile Commerce
    • 14. www.social2B.com 14 The Mobile Phenomenon – PC vs Mobile • Social Networks attracted 171 million unique visitors on both PC & Mobile • Mobile has out- performed PC on all media platforms with 43% growth compared to 8% • Twitter had the most growth in mobile access with 101% • Facebook recorded the largest audience Source: comScore
    • 15. www.social2B.com 15 The Mobile Phenomenon – Ad Spending • Mobile advertising spend has increased by four times the amount spent back in 2009 • The projected spend is likely to hit US$3.5 billion by 2014 • Google accounts for 56% of all global mobile ad revenues. Facebook accounts for 13% Source: Business Insider
    • 16. www.social2B.com 16 Social Commerce – Stats Infographic
    • 17. 17 Social Commerce – Early Success Stories www.social2B.com
    • 18. www.social2B.com 18 Most common „social tactics‟ deployed by brands • Ratings and Reviews • Microblogs and landing pages • Social Recommendations • Company Blogs (including video blogs) • Client generated comments • Product sharing on social sites • Social Shopping Aggregator Sites (deal sites)
    • 19. Most common „social tactics‟ deployed by brands – Ratings and Reviews www.social2B.com 19 • Used by most retailers (also a common function for many eCommerce platforms – Magento, Shopify, ATG, DemandWare, etc.) • Opportunity to reduce content creation efforts and shift to 3rd party generated content • Benefits to product development, field testing, and up-sell/sell-through (if well integrated with analytics and customer service process)
    • 20. www.social2B.com 20 Most common „social tactics‟ deployed by brands – Microblogs – (Twitter, Tumblr, Pinterest, etc.) • Easy and relatively inexpensive to launch • Quick Disposal or extra inventory • Customer Service extension benefits
    • 21. www.social2B.com 21 Most common „social tactics‟ deployed by brands – Social Recommendations • Opportunity to ‘crowd source’ opinion, i.e. Yelp • Exposes clients to more content • If built in, increases time on site and upsell opportunity
    • 22. www.social2B.com 22 Most common „social tactics‟ deployed by brands – Company Blogs • Good opportunity for SEO • Integration of content and commerce through links, suggestions, reviews and ‘shares’ • Low cost add-on to the existing commerce site • Relevance is important – not just aggressive promotion
    • 23. www.social2B.com 23 Most common „social tactics‟ deployed by brands – Client Generated and Suggested „outfitting‟
    • 24. www.social2B.com 24 Most common „social tactics‟ deployed by brands – Client Generated and Suggested „outfitting‟ • Assists in merchandizing support and cross-sells • Customer Engagement • Unique Approach • Integrating ‘high-touch’ and digital experience
    • 25. www.social2B.com 25 Most common „social tactics‟ deployed by brands – Product Sharing on Social Sites (FB+Twitter) • More effective than company’s social network pages • Opportunity to use Facebook’s or Twitter’s infrastructure to evangelize the brand • Best relevant sharing (with events, item quality, item level communications, etc.) • Many options exist for content publishing and commerce on FB and Twitter
    • 26. www.social2B.com 26 Most common „social tactics‟ deployed by brands – What about Facebook/Pinterest? • Integration of on- site experience • Brand Extension • Feedback aggregator via surveys, polls, co mments, shares, li kes • Opportunities for storefronts on the sites
    • 27. www.social2B.com 27 Most common „social tactics‟ deployed by brands – Social Shopping Aggregator Sites • Aggregated and incremental traffic • More engaged relevant shoppers based on preferences • Conversion is moderate – early in the sell cycle • Behavioral aspects are visible – based on preferences, price sensitivity, etc.
    • 28. www.social2B.com 28 Trends and Drivers for Social Commerce Retailers are beginning to overlay ‘social graph’ on digital and brick- and-mortar locations SoLoMo – Social, Local and Mobile is beginning to bridge the gap between physical and digital Commerce and Social Commerce will unite the audience on physical and social worlds Gaming may act as a catalyst in social commerce as an early driver (Zynga, etc.)
    • 29. www.social2B.com 29 Trends and Drivers for Social Commerce: Potential and How You can Improve Millenials and younger generations are looking for recommendations and validation from peers anywhere and for anything making the use of social media essential The ‘blending real life and digital life’ continues to grow with the integration of Real-World and Social World Mobile technologies and Smart Phones will continue to augment the experience of shopping SoLoMo will continue to drive traffic to brick-an-mortar through ‘social engagement’ (Likes, Check-Ins, etc.) Image credits: EdologicIL; RenaultNL
    • 30. www.social2B.com 30 Social Apps, games, local deals, mobile technology are driving ‘addictive’ behaviors ‘Location based tracking’ through Gowalla (FB) and Foursquare may help drive traffic to stores (physical and digital) and solicit immediate feedback Location based monitoring and activation (LocalResponse via Twitter and local check-ins) Trends and Drivers for Social Commerce: Potential and How You can Improve
    • 31. 31 Trends and Drivers for Social Commerce: Example – Macy‟s „Magic Fitting Room‟ www.social2B.com
    • 32. 32 Trends and Drivers for Social Commerce: Example – Diesel‟s Integrated Social Experience www.social2B.com
    • 33. www.social2B.com 33 Trends and Drivers for Social Commerce: Example – Adidas „Holiday Hookup‟
    • 34. www.social2B.com 34 What‟s next in Social Commerce Integration Integration of social gaming and social commerce – turning virtual currency into real currency Helping shoppers build collections and sharing with friends – your way (Polyvore, The Trunk Club, Fits.me, etc.) Shopping content aggregation and management, virtual closets, shareable wish lists (SVPPLY, Groupon, etc.) Specific interest graphs – new frontiers evolving from Social Commerce – Social Interest Graphs, integration of groups and interests directed at brands, etc.
    • 35. www.social2B.com 35 What‟s next in Social Commerce Integration Case Study – Walmart ShopyCat Aggregated shopping helper (avatar) integrating preferences and choices for family members, friends and alike interest groups
    • 36. www.social2B.com 36 What‟s next in Social Commerce Integration Case Study – Pose Mobile and Social Shopping experiences. Share your branded outfits with friends and family. Solicit input and feedback. Get rewards for sharing and featuring brands. Become style influencers. Good integration between social and mobile channels. Excellent engagement model.
    • 37. The question not “Why SoLoMo?” It‟s “Why not SoLoMo?” SoLoMo Combines Social, Local and Mobile www.social2B.com 37
    • 38. Mobile has given us geographic precision Large search engines are recognizing the untapped market in local search. This issue was previously problematic for PC based searching. With smartphones and apps driving the searches, the location efforts are exact. www.social2B.com 38 App design may enable: •Store promotional deals directly to the customer •Details of new products •Reporting capabilities on customers whilst in store •Engagement levels with customers identifying themselves in store locations
    • 39. SoLoMo offers an enhanced customer experience … • The adoption of SoLoMo strategy ensures that customers are getting the deals that will draw them in to the store. • Feedback from your SoLoMo strategy will help you deliver the right products. • Monitoring of all channels will result in happier customers and repeat clients. www.social2B.com 39
    • 40. … greater efficiencies… • You can monitor your clients. • Delivering unique customer relationship management opportunities. • You can foster these bonds with your customer to ensure greater service. • The strategy gives greater insights to realize most profitable customers. www.social2B.com 40
    • 41. … increased engagement… • SoLoMo allows companies to reach customers both on and offline. • Online Social and Local competencies allows for community building and client brand advocacy. • Mobile gives real-time data to deliver better CRM solutions. www.social2B.com 41
    • 42. and branding further opportunities. • Establishing a Social Local Mobile strategy allows you to brand across more platforms of social media. • The connection to your customer through their mobile device ensures that they feel personally connected to the brand. • This also provides the company with better insights toward branding strategies. www.social2B.com 42
    • 43. More importantly SoLoMo enables measurement • Customer insights • Customer monitoring whilst in store to deliver better service • Store sales data • Business Reporting www.social2B.com 43
    • 44. SoLoMo takes on the product market…. SOLOMO Exchange: Web-service platform enhances existing applications through REST APIs. www.social2B.com 44
    • 45. Next Steps www.social2B.com 45 Implementing a SoLoMo strategy • Social • Track all social networking accounts, blogs, websites, and short links on one dashboard – make them as integrated as possible – allow for purchasing through different sites such as Pinterest and Facebook storefronts (or even Twitter hashtags) to allow for increased visibility and traffic • Use monitoring and eCommerce tools to track your success and assess customer satisfaction • Engage directly – elationship management is key for brand loyalty – align your social media metrics / goals with traditional marketing and business metrics / goals • Mobile • Ensure that your website is mobile-ready • Integrate mobile apps / gamification (customer loyalty and rewards programs) • Promote through SMS campaigns, mobile ads, QR codes, and other mobile-ready promotions • Make sure all company profiles/social networks are mobile – accessible • Local • Use social media and mobile strategies to drive consumers to your brick-and-mortar location via local promotions and check-ins – align strategies to maximize in-store traffic as well as online purchases • In-store only specials/promotions (that can be promoted via social/mobile)
    • 46. Next Steps www.social2B.com 46 • Make sure that you understand the technologies and tools available to you. There are many platforms out there (such Exchange) that can help you organize and monitor. • Use big data analytics and sentiment analysis to understand consumer behavior and be able to target them accordingly. • A great way to be able to accomplish all of the above is to partner with a social media marketing company (like Social2B)! We specialize in this so we can walk you through best strategies, tools, platforms, etc. to use to maximize your results!
    • 47. Social2B Video for Mobile www.social2B.com 47
    • 48. Thanks for listening! www.social2B.com 48 Briarley Delaney, Marketing Analyst, Social2B (briarleyd@social2b.com / @BD4GT) Briarley’s work experience over the last 8 years has been within the finance and banking industry. There she has fulfilled analyst and leadership roles. With a passion for creativity and existing experience with business analysis, in 2010, she pursued study in the marketing field. Briarley joins Social2B leveraging her knowledge of international business and experience with social media marketing. Alex Romanovich, Founder and President, Social2B (alexr@social2b.com / @alexromanovich) Alex Romanovich has more than 25 years of leadership experience helping build domestic and international brands, bring service and product innovators into new markets, and guiding top-tier companies. His senior-level marketing and demand generation executive leadership is always driven by innovation and results. With combined background in marketing, technology, analytics, and international business development, Alex has deep experience in software, media, online marketing, social media, and professional service segments. Jessica Spar, Marketing and Community Manager, Social2B (jbspar@social2b.com / @jbspar) Jessica Spar is a content marketing and community management strategist, working with brands to increase visibility across platforms. She has a strong background in project management, working with clients to implement engagement strategies and tactics to support the client’s business goals and objectives. Her past work experience includes targeted email marketing campaigns, in-depth work and research on broadening audience outreach and diversity, coordinating/developing promotional partnerships and events.
    • 49. Social2B www.social2B.com 49 Accessories Council Social2B is a Social Media Marketing, Consulting, and Product Development Agency of top industry professionals, dedicated to helping B2C and B2B clients leverage the explosive growth of social media marketing. We create solutions at the intersection of marketing, technology, and social media that drive client engagement, conversion and bottom line results, backed by unique metrics, measurement and campaign management methodologies. We advise Enterprise clients on social media maturity and scalability issues, social value chain optimization strategies, while helping them build the appropriate social media infrastructure and integration points. @social2b The Accessories Council is a not-for-profit, national advocacy organization established in 1995. Our mission is to stimulate consumer awareness and demand for fashion accessory products. The industry generates over 30 billion dollars annually in the United States alone. Over the past 5 years, membership has grown to include over 185 corporations representing the world's leading brand names, designers, publications, retailers and associated providers for the accessories, eyewear and footwear industries. The Accessories Council sponsors educational seminars, networking events, seasonal trend reports, marketing and advertising co-operative initiatives, as well as design and marketing awards for fashion students. @AccessoryNews More About Us

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