Présentation de Rich. PEDOTT lors de la dernière édition de Museum Connections, 17 & 18 janvier 2018.

1. This document is for internal use only and should
not be circulated beyond Metropolitan Museum staff.
Think like a Customer,
not like a Curator.
Date: February 5, 2018

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3. What Wins at Retail Today aka Competing with Amazon
 Have a Specialized Niche
 Create a Community
 Best Customer Service
 Build a Passionate Fan Base
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Unique Advantages of Museum Retail

5. World Class Brand Awareness
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6. Guaranteed Traffic Offline and Online
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 7 million visits per year
 33 million online visitors
 70 – 80% of the total door
count visit a retail shop

7. Opportunities for Product Differentiation
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8. Vast Content Marketing Opportunities
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 Traditional Media
 Social Media
 Digital
 Special Exhibitions
 Publishing
Image: Hiroko Masuike for The New York Times

9. Financial Leverage Opportunities
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But Few of Us are Really Winning, Why?

11. Competition for Capital
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 Lack of Scale
 Store Maintenance
 Technology
 Distribution and Fulfillment
 Warehousing

12. Tension between Art and Commerce
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13. Attracting the Right Talent
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 Fiercely Competitive
Market
 Competitive Pay Scales
 Incentive Compensation
 Equity Programs

14. Customer Complexity
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Image: 99 Cent II Diptychon by Andreas Gursky, 2001

15. Do we Focus on the Member, Visitor, and Customer Enough?
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Today the Customer Calls the Shots!

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What do Customers Expect?
 Value
 Service
 Integrity and Reliability
 Quality
 Ease

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The Evolution of Power – Retail Disruptors Since 1990

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“Millennials Rising” – About 37% of Our Visitors
 It’s all about me!
 Millennials: $600 Bn strong
o Very adaptive
o Not so private
o Interactive
o Community Seekers
o Experience junkies
o Digitally savvy
o Mash-up artists / Co-creators
o Close to M&D
• Into their working years

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Predictions I Made at a Conference in September 2014
 Customer relationships become the most important asset for
retailers to learn how to manage effectively
 Loyalty programs will continue to increase as retailers deepen
their relationships with customers
 Increasingly, Big Data analytics working in tandem with
direct customer collaboration efforts rooted in loyalty
programs will be leveraged to build and edit assortments

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Predictions I Made at a Conference in September 2014
 Social Media will likely be leveraged more and more as a
customer survey mechanism
 Millennials will create innovation from below and outside the
retail organization with freely available technology

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Wikiretailing – Are You Ready for it?
 Today, customers co-create and
personalize their shopping experience
 There are two new P’s:
Personalization and Participation

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Building a Customer-centric Culture

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How to Think About Talent

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Structuring the Organization
 Chief Customer Officer
 Chief Experience Officer
 Cross Functional Customer
Insights Team
 Customer Advisory Board
 Curator Advisory Board

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The Right Skills
 Professional Retail Expertise
 Interesting Backgrounds
o Psychology
o Philosophy
o Sociology
o Data Science
o Digital
 Appreciation of the Museum

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The Right Characteristics and Values
“When they wake up and are thinking in the shower in the morning,
they’re thinking about customers, and thinking about how to invent
on behalf of customers, and they find that fun.” Jeff Bezos
 Curiosity
 Humility
 Collaboration & Innovation
 Transparency
 Integrity
 Inclusive and Diverse
 Do the Right Thing

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Leverage Your Museum Partners
 Member and Visitor Services
 Marketing and Communications
 Digital
 Editorial
 Curatorial
 Restaurants

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Injecting the Customer into your Process

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Customer and Competitor Insights
 Big Data (Google, Facebook, CRM)
 Structured and Informal Surveys
 Direct interaction with Customers
o Structured Selling Assignments
o Structured Customer Service Assignments
o Structured DC Assignments
o Order from Your Website
 Monthly Competitive Shopping

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Customer and Competitor Foresight
How is the customer landscape
shifting?
Where are we not relevant?
Based on the current landscape,
what will our competitors do?
What new competitors will enter
the market?

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Customer Feedback Loops
 Conduct periodic surveys
 Offer offline and online options
for customers to give feedback
 Have a mechanism to
communicate actions back to
customers
 Empower the front lines to act

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Thinking About Products

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What are your top 3 reasons for shopping a museum store?
1. To find something different / unique from the mainstream
2. To remember my museum experience or visit
3. To support the museum
4. To bring home a souvenir from a city I visited as a tourist
5. I typically brows the store when I visit a museum
6. To extend my knowledge of art, design, and history

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Product Ideation Process
 Customer segments should drive
 Build a customer assortment
wishlist
 Start first with customer needs
and consumer trends, then
leverage the collection for
inspiration
 Involve customers and curators

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How to Think About The Store

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Top 5 Plans for According to Visitors
 48% Specific area of the museum
 37% Whole museum
 35% Special exhibition
 25% Met Store
 18% Roof garden

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How does each plan translate into how the Member / Visitor
will use the Museum on that day?

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Based on each plan what are the Shopping Missions?
 Looking for something very
distinctive
 Want to see the best of the
best and get processed
quickly
 Need to buy multiple gifts
that travel easily
 Want something small and
easy to carry

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Intuitive Organization of the Store and Website

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What our Customers Worry About
 Managing their travel budget
 How well will a purchase travel
 Shipping options
 Dealing with their stuff in the museum
 Finding a place to sit
 An easy place to get bottled water

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Best of Luck on Your Journey

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Questions

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Thank You
Rich Pedott
Rich.Pedott@metmuseum.org