Marketing refresh: The nine effective habits of digitally native brands
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Traci Inglis, President, JustFab and ShoeDazzle, TechStyle Fashion Group Heike Young, Senior Manager, Industry Strategy & Insights, Salesforce
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Marketing refresh: The nine effective habits of digitally native brands
- 1. Marketing Refresh: The nine effective habits of digitally native brands Heike Young Senior Manager, Industry Strategy and Insights Salesforce Traci Inglis President, JustFab and ShoeDazzle TechStyle Fashion Group
- 2. Effectivehabits of digitally-nativebrands9 TRACIINGLIS– PRESIDENT, JUSTFAB& SHOEDAZZLE
- 3. TECHSTYLE BYTHE NUMBERS 2010 YEAR FOUNDED REVENUE 5 $700m+ CURRENT BRANDS VIPS WORLWIDE 5.1m 65m+ ITEMS SOLD 84% SALESFROM REPEAT CUSTOMERS FACEBOOK+ INSTA FANS 12m GROSSMARGINS EBITDAPOSITIVE 50%
- 4. To reimagine the fashion business, by creating the world’s most innovative and admired fashion company. OUR MISSION
- 5. THE FASHION LANDSCAPE IS CHANGING All these brands were built before… E-commerce Social Media Smartphones
- 6. Are you thinking like adigital native? As retail continues to changewe mustembrace techno
- 7. THINKINGLIKEA DIGITALLY-NATIVEBRAND Mediaspend= investmentingrowth Ownyourowncontent Test& Iterate TRUEONLINE ACQUISITION IndividualizetheCustomerExperience Useyourdata in-store& yourstoredata online Drivemerchandisingwinsthrough customerdata Talktocustomers face-to-face Observesiteinteractions Measureeverything LEVERAGE YOUR DATA THINKCUSTOMER-FIRST 1 2 3 4 5 6 7 8 9
- 8. THINKINGLIKEA DIGITALLY-NATIVEBRAND Mediaspend= investmentingrowth Ownyourowncontent Test& Iterate TRUEONLINE ACQUISITION 1 2 3 IndividualizetheCustomerExperience Useyourdata in-store& yourstoredata online Drivemerchandisingwinsthrough customerdata Talktocustomers face-to-face Observesiteinteractions Measureeverything LEVERAGE YOUR DATA THINKCUSTOMER-FIRST 4 5 6 7 8 9
- 9. Source: Internetretailer.com Top 500 Guide $900M $972M $860 $880 $900 $920 $940 $960 $980 FY2014 FY2015 $2.6B $2.5B $2.45 $2.48 $2.50 $2.53 $2.55 $2.58 $2.60 $2.63 FY2014 FY2015 Online (+8%) (IN MILLIONS) Total Revenue(-2.9%) (IN BILLIONS) 34.5% fromonline 38.8% fromonline TRADITIONALRETAIL: THE LEAKY BUCKET Shifting demand to e-commerce but not generating new customers
- 10. Source: Internetretailer.com Top 500 Guide $50M+ Annual Advertising Spend 2.5x ROI Over 3Years 6MONTH Media Payback PRINT SOCIAL MEDIA TV ONLINE MEDIA INVESTMENT
- 11. AGILE ACQUISITION Rapid, Iterative Testing Enabled by Technology & Expert Services 24k AdCreativesDesigned andTested/Year 1.2k+ WebsiteIterationsTested TVCommercial IterationsTested 75+
- 12. +15% Existing Customer Order Conversion Control Test RAPID TESTING A/B tested multiple PDP variations to determine winning layout.
- 13. THINKINGLIKEA DIGITALLY-NATIVEBRAND Mediaspend= investmentingrowth Ownyourowncontent Test& Iterate TRUEONLINE ACQUISITION IndividualizetheCustomerExperience Useyourdata in-store& yourstoredata online Drivemerchandisingwinsthrough customerdata 1 2 3 4 5 6 Talktocustomers face-to-face Observesiteinteractions Measureeverything 7 8 9 LEVERAGE YOUR DATA THINKCUSTOMER-FIRST
- 14. PERSONALIZATION FROM THE MOMENT OF ENGAGEMENT Take a Fun Quiz We learn about consumer’s… Size Style preferences Geographic location …before they shop with us.
- 15. PERSONALIZATION FROM THE MOMENT OF ENGAGEMENT ShopYour PersonalizedBoutique Personalized boutique is refined over time based on browsing behavior, purchase history and supplemental stylist feedback.
- 16. All 2.5m members receive unique emails Dynamic 1:1 merchandising email across 1,000s of styles Unique offers based on detailed segmentation Targeted subject lines to each customer highlighting offer and first name UNIQUEEMAILSFOR EVERYMEMBER
- 17. VIPLAPSED FACTOR OPTIMIZATION Our technology systems enable us to continuously iterate on ways to re- engage VIPs more frequently and consistently. MONTH 1 2 3 4 5 6 7 8 9 10 22% Morebest customer reactivated
- 18. OMNI-CHANNEL RETAIL Reserve online, try in-store Online store locator enhancements Test new store opening page online Omnishop enhancements
- 19. LEADINGTHE INDUSTRY USING DATA Merch and Marketing team regularly use data to inform decisions. Add to Cart Impressions Product Reviews Dressing Room Conversion Determine size breaks and orders based on customer data Rapid re-merchandising Personalized/segmented product Recommendation emails Personalized/segmented product grids Dynamic Pricing Feedback to design/merch for fit improvements
- 20. FABLETICSHAS THE FASTEST SPEEDTO MARKETOF ALL ACTIVEWEARRETAILERS We always have exactly what our customers what Integrated member data and supply chain Showroom launch 6 weeks in advance to identify breakout styles Styles re-ordered back 4 weeks after launch Data used to drive email, website, merchandising and acquisition creative
- 21. THINKINGLIKEA DIGITALLY-NATIVEBRAND Mediaspend= investmentingrowth Ownyourowncontent Test& Iterate TRUEONLINE ACQUISITION IndividualizetheCustomerExperience Useyourdata in-store& yourstoredata online Drivemerchandisingwinsthrough customerdata Talktocustomers face-to-face Observesiteinteractions Measureeverything LEVERAGE YOUR DATA THINKCUSTOMER-FIRST 1 2 3 4 5 6 7 8 9
- 22. MEET THE VIP Data and numbers only tell one side of the story JustFab employees from all departments meet with VIPs Gather opinions, discuss improvements Product lines and site improvements launched as a result
- 23. SESSION RECORDING Allows us to review user behavior on a granular level, identifying bugs, hang-ups and issues with user experience that are causing lost sales.
- 26. THANK YOU!
Editor's Notes
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?
- Recent results from a multi-billion dollar traditional retailer show that retailers are shifting their current customer bases to ecommerce but not acquiring new ones. It’s a leaky bucket as they are shifting channels but not net gaining revenue. Retailers discuss how fast their ecom is growing but how many retailers are really acquiring new customers from online- how many ppl have never walked into a X retailer and go to their site? So
- Where most retailers are shifting rev to online, we are buiding brands online.Two major ways, 1.5M friend rfereall And 2 we invest in advertising – we don’t look at it as a cost to building brands, we look at it as an ROI positive investment Every 250k is like a store, but we can have more stores in Dec and fewer in June I’ve worked other places and see it doesn’t work if it isn’t built in house We are able to test 100s of creative Analogy of how, every 250k we spend is like a mail based retail store Difference being that We can scale up and down by seasonality (who wouldn’t want more stores in Nov but less in June) No 5 or 10 year lease – most of our media is purchased each day with no long-term commitment Faster and less risk payback
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?
- This is where we at Techstyle are leveraging our technology to really lead the industry. We start to personalize your site and email experience with us from the very first moment you engage with one of our brands, In retail – all members really treated the same; you can’t have a differenst sale or merchandise the store differnetly for each customer – but for all ; we are able to do that
- Individualized the products that went into the email Based on an index on how much I like them 9purchase, browse, click data) Traci likes sparkly in the tags – (sail thru)
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?
- Out of visitors who received an error at the Shipping/Payment page, 33% were unable to complete their purchase. These visitors saw over 2 errors per visitor, have over 1 min and 30 seconds engagement time and over 10 taps per pageview. This type of engagement indicates visitors attempting furiously to correct the errors that are persisting.
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?
- Most major fashion brands today were created before this massive shift in consumer shopping behavior. None of the legacy retailers are really set up to scale new brands when the market is changing so quickly. Coming from a career working with legacy retailers, I had to ask myself – where is the growth in the industry, where are the new brands coming from?