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Trends & New Data on Local Digital Marketing from The Local Merchant Report 2015
The document presents key findings from the 2015 Local Merchant Report, highlighting local merchants' marketing tactics, challenges, and effective pitch strategies. It reveals increasing mobile usage among consumers for local information and emphasizes the need for suppliers to address merchants' digital marketing pain points. Moreover, it outlines preferred communication methods and indicates the growing integration of mobile payment systems in local retail environments.
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Trends & New Data on Local Digital Marketing from The Local Merchant Report 2015
- 1. Key Findings |Top Trends | Pain Points | Pitch Strategies David Card, Research Director, Street Fight Insights Stephanie Miles, Senior Editor, Street Fight Michael Taylor, Business Development, Thrive Analytics
- 2. Welcome Third editionof Local Merchant Report Presentation, conversation, Q&A Use “Ask a Question” button Hashtag is #localmerchant Webinar will be archived for later viewing Full report: http://streetfightmag.com/localmerchant2015 Special discount for attendees at end of webinar http://streetfightmag.com/localmerchant2015 #localmerchant
- 3. Today’s agenda Key findingsfrom Street Fight’s Local Merchant Report 2015 Local merchants’ marketing tactics and objectives How suppliers can help address needs and pain points Effective pitching to close more deals faster What’s coming next Q&A http://streetfightmag.com/localmerchant2015 #localmerchant
- 4. Today’s panelists Laura Rich,co-founder and CEO, Street Fight David Card, research director, Street Fight Insights Stephanie Miles, senior editor, Street Fight Michael Taylor, Business Development, Thrive Analytics http://streetfightmag.com/localmerchant2015 #localmerchant
- 5. Survey partnership StreetFight partnered with Thrive Analytics Thrive Analytics surveyed 553 U.S. Small and Medium Sized Businesses from its Connected Experience Panel™ The Survey was fielded from 5/30/2014 through 6/13/2014 Survey results represent businesses from all categories and all sizes http://streetfightmag.com/localmerchant2015 #localmerchant
- 6. AboutThrive Analytics • Weare a leading digital marketing research and customer engagement advisory firm. • Domestic (U.S.) and International Capabilities • Leading Edge Tools, Technologies & Processes Customer Prioritization Models- Connected Experience Model™ Customer Experience- 360° Connected Experience™ Loyalty Execution Guide Consumer Research/SMB Research/Online Panel Advisory Services Digital Transformation Playbooks http://streetfightmag.com/localmerchant2015 #localmerchant
- 7. ATipping Point InMobile Device Usage. Device most commonly used when looking for local information online (i.e., shopping, restaurants, local services) 42% 9% 49% 49% 11% 40% Smartphone Tablet Desktop PC or laptop 2015 2014 Source: Thrive Analytics, “Local Search Report” 2014 & 2015. 60% of consumers use mobile devices when searching for local information online. http://streetfightmag.com/localmerchant2015 #localmerchant
- 8. Online Has Becomea Persistent State. When you look for local information on your mobile device, where do you tend to be? 48% 9% 15% 28% 40% 8% 17% 35% At home At work In the car Out and about 2014 2015 +13% +25% 24/7 Access- Consumers are no longer tied to PCs. Source: Thrive Analytics, “Local Search Report” 2014 & 2015. Some numbers may not total 100% due to rounding. http://streetfightmag.com/localmerchant2015 #localmerchant
- 9. In-store Usage InfluencesPurchase Decisions. 18% 35% 34% 13% 22% 38% 30% 10% Every time Often Sometimes Never 2014 2015 How often do you use your smartphone while shopping in malls, grocery or retail stores*? Source: Thrive Analytics, “Local Search Report” 2014 & 2015. +11% +9% 54% look for deals in store. 51% compare prices in store. 39% look at reviews in store. http://streetfightmag.com/localmerchant2015 #localmerchant
- 10. The Influence ofMobile on Local Merchants Mobile has become the local discovery “default” Social and mobile are now tied together Increases in mobile websites, payments, and mobile shopping investments Call and location analytics usage will see a lift Mobile connections with sales people and media companies http://streetfightmag.com/localmerchant2015 #localmerchant
- 11. Marketing Tactics andObjectives http://streetfightmag.com/localmerchant2015 #localmerchant
- 12. Local merchants’ useof media types in marketing 20% 22% 23% 24% 24% 26% 27% 31% 32% 51% 57% 0% 10% 20% 30% 40% 50% 60% Daily Deals Mobile Advertising Geotargeting Text Messaging Booking/Scheduling Platforms Coupons Loyalty Programs Yellow Pages Local Newspapers Email Marketing Online Advertising Share of respondents Digital tops traditional marketing, but mobile is not yet widely adopted http://streetfightmag.com/localmerchant2015 #localmerchant
- 13. Audience poll: Which marketingmedium do local merchants rate as most effective? (Choose one) Print advertising (newspapers and Yellow Pages) Online advertising (including search and social) Mobile Daily deals Coupons http://streetfightmag.com/localmerchant2015 #localmerchant
- 14. Local merchants’ mosteffective marketing media 19% 22% 24% 25% 27% 28% 28% 29% 31% 47% 55% 0% 10% 20% 30% 40% 50% 60% Geotargeting Text Messaging Mobile Advertising Yellow Pages Daily Deals Local Newspapers Booking/Scheduling Platforms Loyalty Programs Coupons Email Marketing Online Advertising Share of respondents rating 4,5 Digital tactics far outpace print in perceived effectiveness #localmerchant
- 15. Marketing objectives bybusiness type 73% 55% 40% 57% 9% 13% 0% 8% 19% 32% 60% 35% 0% 20% 40% 60% 80% 100% Local Retail Personal Services Restaurant Service Provider Acquire New Customers Build Brand Awareness Retain Current Customers Share of respondents Marketing suppliers should adjust focus by industry objectives #localmerchant
- 16. Case Study: Mobilecoupons keep customers loyal Merchant: MAKS Boutique Industry: Local Retail Location: Orange County, California Platforms: Facebook, Firefly Rewards, Instagram, MoneyMailer • Primary objective: Increasing visit frequency • Uses loyalty program to collect customer contact data • Regularly sends coupons to at-risk customers • Believes “older mom” demographic responds more to email marketing than social media http://streetfightmag.com/localmerchant2015 #localmerchant
- 17. Expectations for socialmedia in marketing 7% 20% 25% 36% 37% 39% 42% 0% 10% 20% 30% 40% 50% It allows me to work better with… It will reduce my marketing costs It adds credibility to my business It will engage my customers I have no expectations It will build brand awareness for… It will generate leads for my… Share of respondents using social media Social aimed at leads, awareness, and engagement, but many seem confused #localmerchant
- 18. Case Study: Usingsocial to generate leads Merchant: Campo Industry: Restaurant Location: Reno, Nevada Platforms: Facebook, Instagram, Offerpop, OpenTable, Twitter • Primary objectives: Boosting customer engagement, retention, and acquisition • Works with an agency to direct social strategy, but generates content in- house • Spends 7 hours per week managing online marketing • Uses social media contests to fuel email marketing campaigns http://streetfightmag.com/localmerchant2015
- 19. Addressing Needs andPain Points http://streetfightmag.com/localmerchant2015 #localmerchant
- 20. Biggest challenges withdigital marketing 21% 33% 33% 42% 0% 10% 20% 30% 40% 50% Not enough resources to hire dedicated personnel Ad budget not large enough Not enough knowledge or expertise Not enough time Share of respondents Digital marketing complexity can become a time sink for busy managers http://streetfightmag.com/localmerchant2015 #localmerchant
- 21. Audience poll: Where dolocal merchants need the most marketing help? (Choose one) Print advertising (newspapers and Yellow Pages) Online display ads Mobile Search Social media marketing E-commerce http://streetfightmag.com/localmerchant2015 #localmerchant
- 22. Where local merchantsneed the most help 9% 10% 10% 11% 13% 15% 16% 17% 18% 24% 24% 25% 0% 5% 10% 15% 20% 25% 30% 35% Loyalty marketing Reputation monitoring and… Deals/promotions/coupons Online display/banner advertising Mobile marketing Blogging/online content creation Paid search advertising Traditional media Getting our listings information… Facebook and/or social media… Company website, Ecommerce Search engine optimization Share of respondents With no single, dominant need, marketing suppliers must offer integration solutions #localmerchant
- 23. Biggest issues withsocial media 2% 9% 9% 38% 51% 0% 10% 20% 30% 40% 50% 60% It has hurt my image in the past. It is too complicated to understand. Poor reviews are there for everyone to see. I have not seen any return on the money I have spent. It is too time consuming to manage. Share of respondents A significant number of SMBs haven’t seen ROI from social media marketing #localmerchant
- 24. Case Study: MeasuringROI with dashboards Merchant: Oddyssea Industry: Local Retail Location: Half Moon Bay, California Platforms: Swarm, Vend • Primary objectives: Measure ROI of online and offline campaigns • Merchant more comfortable with technology than average business owner • Uses beacons to determine how many customers enter his business • Integrated systems allow merchant to monitor conversions using real-time sales data http://streetfightmag.com/localmerchant2015 #localmerchant
- 25. Dashboards used bybusiness type 58% 59% 78% 57% 31% 24% 11% 22% 10% 17% 11% 21% 0% 20% 40% 60% 80% 100% Local Retail Personal Services Restaurant Service Provider Social media platform General marketing platform Booking/Scheduling platform Share of respondents using dashboards Retailers most sophisticated in use of general marketing platforms http://streetfightmag.com/localmerchant2015 #localmerchant
- 26. How Suppliers ShouldPitch http://streetfightmag.com/localmerchant2015 #localmerchant
- 27. Number of salesrep contacts per week 57% 24% 7% 7% 5% 0% 10% 20% 30% 40% 50% 60% One to two Three to five Six to seven Eight to ten Ten or more Share of respondents Inundated with pitches? Nearly half getting 3+ calls per week http://streetfightmag.com/localmerchant2015
- 28. Audience poll: Which isthe most effective way of pitching to local merchants? (Choose one) In person E-mail Snail mail Phone http://streetfightmag.com/localmerchant2015 #localmerchant
- 29. How local merchantsprefer to be contacted 9% 13% 15% 63% 0% 10% 20% 30% 40% 50% 60% 70% By Phone In Person By Mail Email Share of respondents Email with strong, quick messaging is best means of contact #localmerchant
- 30. What’s Next forLocal Marketing http://streetfightmag.com/localmerchant2015 #localmerchant
- 31. Estimated share ofsales via online/mobile 7% 13% 33% 47%47% 15% 15% 23% 0% 20% 40% 60% None 1% to 10% 11% to 30% Over 31% Able to accept mobile payments Unable to accept mobile payments Share of respondents Early mobile payments adopters expect big digital sales payoff http://streetfightmag.com/localmerchant2015 #localmerchant
- 32. Mobile is changingthe in-store shopping experience • Helping customers locate products • Triggering offers based on location • Empowering sales associates • Customers creating in-store shopping lists • Using shopper movements to dictate store layouts http://streetfightmag.com/localmerchant2015
- 33. Benefits of aPOS system by business type 0% 43% 38% 50%50% 30% 18% 17%25% 5% 10% 20% 25% 22% 35% 13% 0% 20% 40% 60% 80% 100% Restaurant Service Provider Personal Services Local Retail Gathering data on customers Increased repeat traffic Decreased marketing costs Supports mobile Share of respondents using POS Connected local economy will integrate media, marketing, transaction systems http://streetfightmag.com/localmerchant2015 #localmerchant
- 34. Selling cloud-based POSsystems to SMBs • Emphasize functionalities that legacy systems can’t support • Highlight support features • Research ongoing costs associated with legacy systems • Stress the benefits of data security • Sell merchants on automation features http://streetfightmag.com/localmerchant2015 #localmerchant
- 35. Next Steps • Putboots on the ground when selling to SMBs • Perform competitive research • Think like a consumer • Consider starting with restaurant owners http://streetfightmag.com/localmerchant2015 #localmerchant
- 36. Q&A Ask aQuestion through the Questions button Take 25% off the cost of the report! Use code WEBINAR630 through July 6th www.streetfightmag.com/localmerchant2015 #localmerchant
- 37. Thank You! Webinarwill be archived for later viewing Full report: http://streetfightmag.com/localmerchant2015 Early Bird $399 OCT. 20, 2015 | NYC www.streetfightsummit.com #localmerchant