Kohl's Department Stores Center for Retailing Excellence Keynote Speaking Event

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On October 2, 2013 I spoke to the University of Wisconsin-Madison at the Kohl's Department Stores Center for Retailing Excellence. Their center is dedicated to nurturing relationships between the retail industry and the faculty, staff and students on campus.

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Kohl's Department Stores Center for Retailing Excellence Keynote Speaking Event

  1. 1. Jeff Fromm Co-Author “Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever.” EVP at Barkley, a fiercely independent ad agency. 1 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  2. 2. #LetsConnect 2 Monday, September 30, 13
  3. 3. Let’s talk Millennial expectations. 3 Monday, September 30, 13
  4. 4. #settingthebar 4 Monday, September 30, 13
  5. 5. The Definition of Brand Value We Knew and Loved DIED. 5 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  6. 6. The OLD Definition Functional + Emotional Brand Value = Σ Price 6 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  7. 7. The NEW Definition of Brand Value Brand Value = Σ Functional, Emotional & Participative Benefits Price 7 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  8. 8. The NEW Definition of Brand Value Brand Value = Σ Functional, Emotional & Participative Benefits Price 7 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  9. 9. MILLENNIAL MINDSET 8 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via respective sites.
  10. 10. 9 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  11. 11. 9 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  12. 12. 10 Monday, September 30, 13
  13. 13. 11 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  14. 14. The Participation Economy 12 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  15. 15. Creative Excellence to Content Excellence CREATIVE EXCELLENCE CREATIVE CREATIVE EXCELLENCE EXCELLENCE CONTENT EXCELLENCE 13 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  16. 16. 14 Monday, September 30, 13
  17. 17. 15 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  18. 18. 15 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  19. 19. Write this down... “Useful is the new COOL!” 16 Monday, September 30, 13
  20. 20. So Here Are The Six Rules: 1 Engage early adopters of new technology. 2 Build a listening and participation strategy. 3 Buying into a brand idea is more powerful. 4 Design a sense of adventure and fun into your brand. 5 Embrace disruption. 6 Keep their loyalty. 17 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  21. 21. RULE 1: Engage Early Adopters of New Technology 1 2 3 4 5 6 18 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  22. 22. Millennials are 2.5x more likely to be early adopters of new technology 1 2 3 4 5 6 19 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  23. 23. 20 Monday, September 30, 13
  24. 24. 21 Monday, September 30, 13
  25. 25. 22 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  26. 26. 22 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  27. 27. RULE 2: Build a Listening and Participation Strategy 1 2 3 4 5 6 23 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  28. 28. One-third of Millennials say they like a brand more when the brand uses social media 1 2 3 4 5 6 24 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  29. 29. 1 2 3 4 5 6 25 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  30. 30. 1 2 3 4 5 6 26 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  31. 31. 1 2 3 4 5 6 27 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  32. 32. 1 2 3 4 5 6 28 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  33. 33. 1 2 3 4 5 6 29 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  34. 34. 1 2 3 4 5 6 30 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  35. 35. 1 2 3 4 5 6 31 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  36. 36. 1 2 3 4 5 6 32 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  37. 37. 1 2 3 4 5 6 33 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  38. 38. 1 2 3 4 5 6 34 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  39. 39. 1 2 3 4 5 6 35 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: http://weknowgifs.com/wp-content/uploads/2013/03/googly-eyes-meerkat.gif
  40. 40. 1 2 3 4 5 6 36 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  41. 41. 1 2 3 4 5 6 37 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  42. 42. Taco Bell Joins The Snap Chat Community 1 2 3 4 5 6 38 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Twitter
  43. 43. Taco Bell Shares Secret: Beefy Crunch Burrito is Back 1 2 3 4 5 6 39 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Twitter
  44. 44. RULE 3: Buying into a brand idea is more powerful than simply buying a product. 1 2 3 4 5 6 40 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  45. 45. 70% of Millennials are more excited about a decision they’ve made when their friends agree with them. 1 2 3 4 5 6 41 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  46. 46. 1 2 3 4 5 6 42 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Warbyparker.com
  47. 47. 1 43 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  48. 48. RULE 4: Design a Sense of Adventure and Fun into your Brand 1 2 3 4 5 6 44 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  49. 49. 69% of Millennials say they consider themselves adventurous 1 2 3 4 5 6 45 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  50. 50. 46 Monday, September 30, 13
  51. 51. 47 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Freebirds Facebook Page
  52. 52. 47 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Freebirds Facebook Page
  53. 53. RULE 5: Embrace Disruption 1 2 3 4 5 6 48 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  54. 54. 1 2 3 4 5 6 49 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  55. 55. Meet Mike 1 2 3 4 5 6 50 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  56. 56. 51 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  57. 57. 1 2 3 82,693 25,019 10,087,490 4 5 6 52 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Stats of April 23, 2013
  58. 58. RULE 6: Keep Their Loyalty 1 2 3 4 5 6 53 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  59. 59. 45% of Millennials will go out of their way to shop at stores offering rewards programs 1 2 3 4 5 6 54 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  60. 60. vs. Explicit Loyalty Implicit Loyalty 55 Monday, September 30, 13
  61. 61. 1 2 3 4 5 6 56 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Image via southwest.com
  62. 62. What if you have an iconic brand with an older core audience? 1 2 3 4 5 6 57 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  63. 63. We need to reevaluate how you think of ROI. 58 Monday, September 30, 13
  64. 64. 5% 1 EMERGING OPPORTUNITIES 2 20% 3 4 CORE OPPORTUNITIES 75% 5 6 59 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  65. 65. Storytelling vs. Storydoing 60 Monday, September 30, 13
  66. 66. THANK YOU @ JeffFromm | JFromm@barkleyus.com | www.ShareLikeBuy.com 61 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13

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