5th Finger Mobile University

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A look at a perspective on how mobility can impact retail beyond current efforts and do for retail what ecommerce promised but didn't deliver upon. Presented at the Heartland Mobile Council Mobile University conference by 5th Finger CEO Patrick Collins 4/28/10.

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5th Finger Mobile University

  1. 1. Using Mobile to Redefine Your Consumer Relationship Mobile in the REAL WORLD Patrick Collins CEO, 5th Finger Presented by the Heartland Mobile Council
  2. 2. Why in-store retail? Pre-store Loyalty Programs Coupons and Officers In-store Assistants Out-of-stock Links to products and reviews
  3. 3. Mobile is going to do to retail… … what eCommerce couldn’t.
  4. 4. Pre-Store: Loyalty Program New member Segment, Promote, Acquisition program Manage to KPIs # Mobile Members Goals Achieve mobile opt-in for Maximize Engagement in Segment customers 20%+ of the existing first 30 days. active membership. Increase Retention Communicate core Garner stakeholder buy-in program value in first 14 Maximize Member Value to get mobile opt-in call-to days. action on all customer Increase awareness of communications. Promote most engaging promotions rewards in first 30 days. Launch specific mobile acquisition sweepstake.  ‘Month 1 bounced’ members by 25%.
  5. 5. Phase 1: Acquisition
  6. 6. Phase 2: New member program Maximize Engagement in first 30 days. Communicate core program value in first 14 days. Promote most engaging rewards in first 30 days.  ‘Month 1 bounced’ members by 25%. Setup measurement of other core metrics: Sales uplift Opt-ins by channel Other conversions (to web, to facebook, etc)
  7. 7. Phase 3: Segment, optimize Optimize to core KPI’s Watch your voice!  Prospects that have become clients  Product lines purchased  Average revenue earned Segment groups  Major/VIP Clients of customers:  Purchase Lifecycle  Demographics  Geography (Zip, area)  Self segmentation
  8. 8. http://www.mycokerewards.co m http://www.mobilemarketer.com/cms/news/database-crm/4158.html
  9. 9. Pre-Store: Coupons Controllable, distributed: Offers / Promotions Unique coupons Consumer / location controlled: Yowza Foursquare Causeworld Next phases
  10. 10. In-store: Opportunity Assistants Out-of-stock Links to products and reviews
  11. 11. In the near future consumers will carry their assistants.
  12. 12. e-commerce sales will Sure mCommerce represent 8 percent of all retail sales in the could be big…I guess U.S. by 2014 (Forrester) That means in-store shopping Guy walks into is going to represent over a store… 92% of US retail sales for says… quite a while yet...hmmm
  13. 13. Guy walks into a store… says… of 10 people who walk into this store… 4 of them intend to buy Only 1 does Why do the other 3 not buy?
  14. 14. 3 out 3of of4 don’t buy because: because: The out 4 don’t buy Inspiration ”couldn’t find anything I liked” Out-of-stock “you were out of my size” Waiting Times “the line was to long” Mobile to the rescue!
  15. 15. Can’t find something I like…
  16. 16. Product Links Can be used for: amplifying the in-store experience by providing links to product reviews and product recommendations. promote the m. site providing a sweepstake entry mechanism Send a tweet. Check-in m.bbw.com Can be used as a free alternative to SMS.
  17. 17. Instore Activation The user is taken SCAN or text ZYHBC to straight to 558229 for reviews the product and related products. review and is recommended Every product has it’s other items. own QR code and SMS code 19
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  20. 20. 22
  21. 21. Can’t find my size…
  22. 22. Line is too long…
  23. 23. Wrap SMS Database development Build fast Get to measurement and segmentation quickly Coupons In-store

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