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Defining Success in Australian Retail using Social Media

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Defining Success in Australian Retail using Social Media

  1. 1. 1 #SocialRetailSDL Proprietary and Confidential Defining Success in Australian Retail using Social Media Dave Goodfellow Originally presented at: Inside Retail Academy Conference (Feb 2016)
  2. 2. 2 #SocialRetail 1. Social in Context 2. Success in Context 3. Consumer Insights 4. Success Today
  3. 3. 3 #SocialRetail Source: Facebook: http://newsroom.fb.com/company-info/ (Feb 2016) 1.01bn Daily active users 1.55bn Monthly active users
  4. 4. 4 #SocialRetail Sources: YouTube https://www.youtube.com/yt/press/statistics.html
  5. 5. 5 #SocialRetail posts published in 2015 Source: Wordpress https://wordpress.com/activity/ (Feb, 2016)
  6. 6. 6 #SocialRetail Source: Facebook Ads https://www.facebook.com/business/ (Feb, 2016) Population 24,000,000 14,000,000 Local Active Users
  7. 7. 7 #SocialRetail Source: Kamber: http://kamber.com.au/australian-online-video-statistics/ 60% of Aussies over 14 are actively using YouTube
  8. 8. 8 #SocialRetail Social media is the number one mobile internet usage type amongst Australians Source: Australian mobile Device Ownership and Home Usage Report (Deepend, Nov 2014)
  9. 9. 9 #SocialRetail “Success in retail is not measured in likes, comments or shares” - Anyone in Retail
  10. 10. 10 #SocialRetail - Sales -
  11. 11. 11 #SocialRetail - Loyalty -
  12. 12. 12 #SocialRetail - Advocacy -
  13. 13. 13 #SocialRetail The Purchase Journey Brand Advocacy Journey
  14. 14. 14 #SocialRetail Evaluation The systematic review and comparison of options Awareness When the potential customer develops awareness of a product through exposure to informal and formal marketing . Connection This is the stage when they connect their need/desire with specific options available to them Shopping The experience in-store or online, aided or unaided Initial Experience The initial experience that shapes long-term commitment to the product Extended Experience Product performance over the longer term compared to the promise Support Service or support experience offered Commitment The long-term and repeat customer experience including upgrade path The Purchase Journey
  15. 15. 15 #SocialRetail Brand Awareness Getting mailers, seeing brand commercials or news, hearing about a brand from others, seeing a promotion online, etc. Brand Connection Realizing how a brand is relevant to them, how they can benefit from products, services, deals and how they Evaluation Comparing options offered by different brands, evaluating and deep diving into each option Trust Attraction to products or deals brands are offering and other values the brands promise Experience Initial or Extended experiences with the brand Affinity Feeling satisfied with a brand or product Influence Recommending specific brand to others when prompted, sharing positive experiences and benefits that differentiate it from others Evangelism Totally committed to a long term relationship and actively promoting the brand, trying to bust myths, siding with a brand through its “ups and downs” The Brand Advocacy Journey
  16. 16. 16 #SocialRetail Introducing…
  17. 17. 17 #SocialRetail 10 OF AUSTRALIA’S MOST TALKED ABOUT RETAIL BRANDS Oct – Dec, 2015
  18. 18. 18 #SocialRetail PURCHASE & ADVOCACY
  19. 19. 19 #SocialRetail > 95,000 Conversations Oct – Dec 2015 PURCHASE & ADVOCACY
  20. 20. 20 #SocialRetail of online conversations mentioning Australian Retailers is related to the purchasing journey 46%
  21. 21. 21 #SocialRetail Relate to a consumer’s brand advocacy journey.
  22. 22. 22 #SocialRetail 0% 5% 10% 15% 20% 25% 30% Awareness Connection Evaluation Shopping Deployment Product Experience Support Commitment CONVERSATION VOLUME BY PURCHASE JOURNEY STAGE Post-conversionPre-conversion
  23. 23. 23 #SocialRetail 4% 1% 1% 24% 16% 9% 22% 22% 0% 5% 10% 15% 20% 25% 30% Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment CONVERSATION VOLUME BY PURCHASE JOURNEY STAGE Sales Loyalty
  24. 24. 24 #SocialRetail 72.4 64.7 42.9 60.3 62.4 45.7 46.4 59.7 Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment PRODUCT EXPERIENCE SCORE BY STAGE Sales Loyalty
  25. 25. 25 #SocialRetail What they’re saying: ○ Top 3 most common themes of conversation are: 1. Pricing and discounts (42.3%) 2. Customer service (17.2%) 3. Product availability (4.8%)
  26. 26. 26 #SocialRetail Success today
  27. 27. 27 #SocialRetail
  28. 28. 28 #SocialRetail 0% 5% 10% 15% 20% 25% 30% Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment Social conversation % by Customer Purchase Journey Stage (Oct – Dec, 2015) Target AU Retail Average Sales
  29. 29. 29 #SocialRetail 0 10 20 30 40 50 60 70 80 90 Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment Experience Score by Journey Stage Sales Target AU Retail Average
  30. 30. 30 #SocialRetail Analysis - Shopping ○ High experience scores were driven by conversation around around “value for money” as well as conversations triggered by content marketing campaigns for #yayeveryday. ○ Versatility and relatability of the stories connected to the #yayeveryday campaign enabled target to retain consumer attention and drive shopping conversation over the highly competitive and saturated holiday period
  31. 31. 31 #SocialRetail
  32. 32. 32 #SocialRetail
  33. 33. 33 #SocialRetail 0% 5% 10% 15% 20% 25% 30% Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment Social conversation % by Customer Purchase Journey Stage (Oct – Dec, 2015) LoyaltyTarget AU Retail Average
  34. 34. 34 #SocialRetail 0 10 20 30 40 50 60 70 80 90 Awareness Connection Evaluation Shopping Initial Experience Extended Experience Support Commitment Experience Score by Journey Stage LoyaltyTarget AU Retail Average
  35. 35. 35 #SocialRetail Analysis - Loyalty ○ In addition to expected positive sales results indicated by the scoring for the shopping stage of the journey, similarly high performance in the Commitment Journey stage indicates a strong likelihood of repeat purchase and customer loyalty ○ Commitment is seen to be directly connected to positive shopping and support experiences, with many customers proactively displaying their commitment and complimenting the brand on it’s products, campaigns and/or customer service.
  36. 36. 36 #SocialRetail 0% 5% 10% 15% 20% 25% 30% Awareness Connection Evaluation Trust Experience Affinity Influence Evangelism BRAND ADVOCACY CONVERSATION VOLUME BY STAGE Advocacy
  37. 37. 37 #SocialRetail 46.8 56.6 34.8 16.8 36.6 67.9 66.1 66.9 Awareness Connection Evaluation Trust Experience Affinity Influence Evangelism BRAND EXPERIENCE SCORE BY STAGE Advocacy
  38. 38. 38 #SocialRetail
  39. 39. 39 #SocialRetail 0 10 20 30 40 50 60 70 80 Awareness Connection Evaluation Trust Experience Affinity Influence Evangelism Experience scores by Journey Stage AdvocacyAldi Average
  40. 40. 40 #SocialRetail “This is a story about my favourite retail playground”.
  41. 41. 41 #SocialRetail “Those resourceful Germans have introduced into Australia a shopping chain that at any one time combines the offerings of all my preferred playgrounds [Liquor, DIY hardware, whitegoods, nursery products and edibles]”. – Woogsworld
  42. 42. 42 #SocialRetail “With due pomp and ceremony [our family] launched and christened the vessel HMAS Aldi. It took pride of place in the underground car park much to the bemusement of our fellow inhabitants. Life jackets were purchased; paddles were assembled; tide charts perused, and all was in readiness for HMAS Aldi’s maiden voyage. Now some people are just not meant to be let loose on the water. I am in that category.” -Woogsworld
  43. 43. 43 #SocialRetail The drivers of success on social today Sales Loyalty Advocacy ○ Value for money ○ Variety ○ Product availability o +/ve pre & post purchase exp o Strong Connection o Strong Shopping o Strong support o Lifestyle relevance o High connection and affinity o Unique experience
  44. 44. 44 #SocialRetail#SocialRetail ○ There is a huge amount of opportunity for retailers to engage customers across the journey ○ The importance of social media in retail is only growing, so take hold of the opportunity to engage across your customer’s journeys ○ Focus on getting the basics right first, because it’s what consumers are asking for ○ Ask your social media person or team about your customer’s journey Wrapping up

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