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Get Your Customers To Love You! How Barneys New York Thrives on Customer Experience in The Competitive Luxury Market

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Companies who create an unforgettable customer experience not only survive in competitive markets, but thrive. Find out how Barneys New York gets their customers to love them and reaps significant financial gains in an interview with Customer Engagement Magazine. View the highlights in this SlideShare.

Published in: Marketing

Get Your Customers To Love You! How Barneys New York Thrives on Customer Experience in The Competitive Luxury Market

  1. 1. How Barneys New York Thrives on Customer Experience in The Competitive Luxury Market Get Your Customers to By Deb Monfette, Customer Engagement Magazine | @DebMonfette
  2. 2. Kevin Thompson, VP of Customer Experience Barneys New York An Interview With Ray Stendall, Publisher Customer Engagement Magazine Follow @RayStendallFollow @BarneysNY
  3. 3. they cannot get anywhere else? Customer Experience in the Luxury Market How can you give your customers an unparalleled, branded experience
  4. 4. Customer Experience in the Luxury Market as badly as the product. An experience they want
  5. 5. Customer Experience in the Luxury Market YOUR Brand? And keep them shopping for
  6. 6. Customer Experience in the Luxury Market You’ll soon find out as Kevin Thompson shares insider tips on how Barneys New York survives & thrives in the competitive Luxury Market.
  7. 7. Get Our Full Video Interview with Kevin Thompson, VP Customer Experience at Barneys New York. CLICK HERE Discover How to Deliver an Amazing Customer Experience by Building Lasting Customer Relationships
  8. 8. What are the Biggest differences from other markets? Customer Experience in the Luxury Market Highlights from the Interview
  9. 9. The Product. Photo Credits: Thewindow.barneys.com Customer Experience in the Luxury Market
  10. 10. It’s Primarily Limited. Photo Credits: www.barneys.com/on/demandware.store/Sites-BNY-Site Customer Experience in the Luxury Market
  11. 11. It’s handcrafted. Photo Credits: Thewindow.barneys.com/esquivel-studio-tour/ Customer Experience in the Luxury Market
  12. 12. It’s produced in small quantities. Photo Credits: Thewindow.barneys.com/margiela Customer Experience in the Luxury Market
  13. 13. It’s pricey. Customer Experience in the Luxury Market Photo Credits: www.barneys.com/on/demandware.store/Sites-BNY-Site/default/Search-Show?cgid=womens-bags
  14. 14. Customer Experience in the Luxury Market Our customers have HIGH expectations. Photo Credits: Gratisography.com
  15. 15. years ago, there was a great divide between … 10 Customer Experience in the Luxury MarketplaceCustomer Experience in the Luxury Market
  16. 16. Luxury Brands, Customer Experience in the Luxury Market Like …
  17. 17. Bridge Brands, Customer Experience in the Luxury Market Like …
  18. 18. and Mainline Retail. Customer Experience in the Luxury Market Like …
  19. 19. Customer Experience in the Luxury Market But the GAPhas narrowed significantly. Photo Credits: picjumbo.com | Viktor Hanacek
  20. 20. Why? Customer Experience in the Luxury Market
  21. 21. The influence of Online Shopping, Customer Experience in the Luxury Market Photo Credits: pixabay.com | LoboStudioHamburg
  22. 22. Customer Behavior, and Customer Experience in the Luxury Market
  23. 23. Expectations Spending Money. Customer Experience in the Luxury Market It saves time. It’s personal! It’s gotten rave reviews. It’s customized. It’s my dream … It’s pure comfort. It’s convenient. It a lifestyle! It’s luxury. It’s a limited-edition. It makes me feel special. It’s what I want. It’s a VIP service.
  24. 24. Customer Experience in the Luxury Market People just aren’t shopping the same way. Photo Credits: pixabay.com |Geralt
  25. 25. So, how do you know what your customers want? Customer Experience in the Luxury Market
  26. 26. We worked with the consulting group Millward Brown Optimor and conducted a 2-year long customer experience study. Customer Experience in the Luxury Market
  27. 27. During the study we asked our customers and they told us what they wanted. Customer Experience in the Luxury Market
  28. 28. So, what do they want? Customer Experience in the Luxury Market
  29. 29. Customer Experience in the Luxury Market They want a feeling more than a product. Photo Credits: http://thewindow.barneys.com/prada-windows-details
  30. 30. Customer Experience in the Luxury Market When they walk into Barneys New York, they want … Photo Credits: Pixabay.com
  31. 31. A warm greeting and someone to ask their name. Customer Experience in the Luxury Market Photo Credits: Pixabay.com | GLady
  32. 32. Why do people shop for your brand? Customer Experience in the Luxury Market
  33. 33. It’s about relationships! Customer Experience in the Luxury Market
  34. 34. We have customers who have 15-20 year relationships with their sales associates. Customer Experience in the Luxury Market
  35. 35. Customer Experience in the Luxury Market They know them. Photo Credits: picjumbo.com | Viktor Hanacek
  36. 36. Customer Experience in the Luxury Market They know their children. Photo Credits: picjumbo.com | Viktor Hanacek
  37. 37. Customer Experience in the Luxury Market Photo Credits: PickupImage.com | Tibet They know their likes. Photo Credits: Picjumbo.com
  38. 38. They know their dislikes. Customer Experience in the Luxury Market Photo Credits: Pixabay.com
  39. 39. We've launched concierge type services to become even more a part of our customers' lives. Customer Experience in the Luxury Market
  40. 40. Photo Credits: www2.exclusiveresorts.com/2015Journeys Customer Experience in the Luxury Market Exclusive Resorts, the Leader in luxury vacation travel. We've partnered with
  41. 41. Photo Credits: www2.exclusiveresorts.com/2015Journeys Customer Experience in the Luxury Market You can experience once-in-a-lifetime, customized luxury residences, journeys, and events. http://www.exclusiveresorts.com
  42. 42. We've satisfied our shoppers' appetites with Barneys restaurants in New York, Chicago & Beverly Hills. Photo Credits: Thewindow.barneys.com Customer Experience in the Luxury Market
  43. 43. Photo Credits: Thewindow.barneys.com/freds-chicago Customer Experience in the Luxury Market When a customer dines in one of our restaurants ...
  44. 44. Customer Experience in the Luxury Market c They can feel good knowing the food is sourced from the freshest local suppliers. Photo Credits: Pixabay.com | Geralt
  45. 45. Customer Experience in the Luxury Market Photo Credits: Bigfoto.com c They are free to ask for a glass of complimentary wine.
  46. 46. Customer Experience in the Luxury Market We share food & drink recipes on our site. thewindow.barneys.com
  47. 47. c We have to pay attention to the details … Customer Experience in the Luxury Market Photo Credits: Pixabay.com
  48. 48. Like how a sales associate connects & communicates with a customer. Customer Experience in the Luxury Market Photo Credits: Pixabay.com
  49. 49. How they handle the garment a customer is about to purchase. Customer Experience in the Luxury Market Photo Credits: www.barneys.com
  50. 50. What they do after the purchase is made, like… Customer Experience in the Luxury Market
  51. 51. Walk you out of the store, across the parking lot, and place the bags in your car. Customer Experience in the Luxury Market Photo Credits: Pixabay.com | Jingoba
  52. 52. Customer Experience in the Luxury Market c Our customers remember the details and will come back again and again. Photo Credits: Picjumbo.com
  53. 53. We also reach out after the sale and … Customer Experience in the Luxury Market
  54. 54. Customer Experience in the Luxury Market Photo Credits: Pixabay.com make sure thank you notes are sent.
  55. 55. We make sure all the customer data is up-to-date. Customer Experience in the Luxury Market
  56. 56. Customer Experience in the Luxury Marketplace c We keep adding features & benefits to our credit card programs. Photo Credits: Pixabay.com
  57. 57. Customer Experience in the Luxury Market c We roll out new gifting programs and incentives for our sales associates to help inspire them to get to know our customers better. Photo Credits: Pixabay.com
  58. 58. We offer more than just our products. Customer Experience in the Luxury Market
  59. 59. Customer Experience in the Luxury Market Photo Credits: Pixabay.com | Stux We created a service environment
  60. 60. Customer Experience in the Luxury Market Photo Credits: Dreamstime | Cia Pix with a feel-good experience.
  61. 61. As a result of these changes, we found significant, tangible improvements. Customer Experience in the Luxury Market
  62. 62. Average purchase levels. Customer Experience in the Luxury Market é UP
  63. 63. Average transaction size. Customer Experience in the Luxury Market é UP
  64. 64. First-time purchases. Customer Experience in the Luxury Market é UP
  65. 65. Customer Experience in the Luxury Market é Average spend on credit cards UP significantly. UP
  66. 66. The keyword in the luxury marketplace is… Customer Experience in the Luxury Market
  67. 67. Customize. Customer Experience in the Luxury Market http://thewindow.barneys.com/nars-phillip-lim-nail-polish/
  68. 68. Presentation Created By Deb Monfette, Content Marketing Producer & Contributor for Customer Engagement Magazine and Content Creator at Contenttriggers For more information on Engaging Customers … Follow me @debmonfette Thanks for viewing!
  69. 69. Get FREE Access to the latest issue right on your mobile device. Go to CustomerEngagementMagazine.com Get Advanced Notice of LIVE Events with top customer engagement experts and companies.
  70. 70. CLICK HERE Discover How to Deliver an Amazing Customer Experience by Building Lasting Customer Relationships Get Our Full Video Interview with Kevin Thompson, VP Customer Experience at Barneys New York.

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