Social Media Fundamentals, Future of Retail

Future of RetailSocial on the Outside, Social on the Inside

Friday, 28 September 12

PORTLAND

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ST. LOUISPHILADELPHIALINCOLN

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We are the leading global, integrated, end-to-end social business consultancy.Working with 50% of the Fortune 500. Multi-year engagements. The largest group of Facebook Preferred Developers in the world. 500+ Facebook sites, mobile and gamification projects.

THE WORLD’S LEADING SOCIAL CONSULTANCY FIRM

SYDNEY

RIO DE JANEIRO

Our services

SOCIAL BUSINESS INTELLIGENCE+ Dashboards & benchmarks+ Data services+ Reporting & analytics+ SaaS applications

PERFORMANCE BRAND MARKETING+ Social brand strategy+ Applications and experiences+ Community management+ Advocacy programs+ Listening programs+ Influencer outreach programs+ Social media buying

CONNECTED COMPANY+ Enterprise social

technology+ Workforce collaboration+ Workforce learning+ Social CRM+ Change programs

Some of our clients

WE WILL DISCUSS

Where We Are Now Trends and Examples

What Next?

Where We Are Now Trends and Examples

What Next?

Is bricks and mortarretail dead?

We hear lots about the “death of retail”

“JCB retailer’s shares fall by a fifth (...) it blames performance on disappointing demand for Euro 2012 kits and wet weather.”

“WHS sees 3 per cent fall in like-for-like third-quarter sales.”

“Mothercare- Strong performance outside UK helps offset cost of store closures but baby clothing retailer warns domestic market ‘remains tough.”

Source: http://www.ft.com/indepth/ukretailresults

While the future is mobile and social

39% of consumers rely on the websites for comparative shopping.

UK found that 39% want to use mobiles to receive personalised promotions.

52% want to use mobiles to checkout, and 42% to locate products in-store.

Source: http://www-03.ibm.com/press/uk/en/pressrelease/38901.wss

So let’s go backto the basics.

Few understand what social truly means

...and really understand what’s changing

Behaviours

Competition Expectations

Competition: understanding your ecosystem

Retailers

Customer

BrandsOnline Retailer

Brands: the engaging “cool factor”

RELATIONSHIPS

SOCIAL BUYING

Brands have stolen the early march on developing relationships with consumers on the products and advocacy.

Its all about sharing, socialising, liking and making it easy to buy when you want to.

In-store is all about the experience, but it’s limited.

Online retailers are becoming the norm

Online retailers have revolutionised what “good” customer service means, raising the bar.

When you want it, where you want it and social.

Organising for social means that traditional roles and responsibilities don’t need to exist or are carried out by customers.

SERVICE

CHOICE

Customers are the buyers

Behaviours

Customer journeys have changed

Customer Need Research Buy Feedback

Decision Point

“My shoes broke after I wore them

once.”

Access to an exponentially bigger pool of

consumers

Need and research take less time and are often combined

The decision point is reached at an earlier stage

Decision Point

Consumers expect to have the option of buying online as well as in the store

Enhanced feedback loop

Rates, reviews,

complaints, etc.

To a non-linear, multi-channel journey

19Source : The OPEN Brand: Digital Trends for 2011 by Resource Interactive

Non-Linear, multi-channel, digital, consumer-controlled

Influence is shifting to the individual

Source: Eloqua & JESS3, The Message is the Messenger, March 8 2011 Source: Forrester 2010 Source: AdWeek, A Million Little Klouts, Dec 14 2001

And the wisdom of the crowd...

Brands are striking deals with social networks.Source: Wall Street Journal, June 30, 2011; Twitter

Behaviours

This means we now have a social consumer

...who expects more from retailers

So to summarise...

Understand your competitors and customer behaviours and expectations for YOUR market segment. 1

Online retailers are raising the bar in service and re-defining market models.2

Influence and trust is driven by peers, not the brands or retailers.3

Where we are now Trends and Examples

What Next?

Moving to bricks and clicks?

We see the market split into three segments

Early AdoptersExec sponsorship, Long term vision

Doing “Enough”Apps and Likes

“Hope it goes away”But if I’m going to do it, do it long term

...and follow three broad trends

Customer Service: Delight your Customers.

Combining on-line and off-line: Delivering on the brand promise.

Shopping experience: Augmenting reality. 1

Combining the on-line and off-line

Likes, purchases and history are available and accessible across all channels.

Deliver on the same brand promise on-line and off through every interaction including marketing, sales and service.

Campaigns move between digital and physical with the end goal of people in stores.

CUSTOMER

EXPERIENCE

CAMPAIGNS

Some recent examples where this has worked

...including C+A in Brazil

...and where the experience has not delivered

Customer Service that delights

Move from “just enough” to a concept of delighting a customer.

Available whenever, wherever suits the customer either through Twitter or Livechat.

Develop forums or communities where passionate customers help customers problem solve.

CUSTOMER

WHEN SUITS

SELF-SERVICE

Where Burberry’s new digital service leads

Vodafone and SONY: users helping users

Shopping Experience: Augmented Reality

Using apps, QR codes to help customers get more information once in store.

Find the products, combine the products.

Listening to customers to understand where there is missed market demand, the “next big thing”.

INFORMATION

PRODUCT

WOW - FACTOR

Including Burberry and IKEA

And then we havenext generation.

Empowered employees: passion and knowledge

Employees are a companies most important assets to share passion authentically and recruit top talent.

You are only as strong as your weakest employee - leveraging knowledge to deliver outstanding service.

Internal social networks to share knowledge, best practice and customer intelligence.

ADVOCATES

SERVICE

KNOWLEDGE

Twelpforce: where employees act

Big data as a decision driver

Using social data to drive internal decision-making on regionalised supply chain, store openings etc.

Using social listening to understand trends and complaints on competitor products, buzz for product launch etc.

Listening to customers to understand where there is missed market demand, the “next big thing”.

DECISIONS

PRODUCTS

TRENDS

And aspirational...

Customer 360: combining social, sales, service and marketing

What Next?Where we are now Trends and Examples

So what isthe future of retail?

Bricks + Clicks can work if...

Provide value-add in-store through passionate, connected and empowered employees- beyond marketing.2

Use social data to drive pro-active decision-making across marketing, sales development and competitive insight.3

1 It’s all about providing an integrated customer experience across every touchpoint, on-line and off.

Dominika Tomek HEAD OF CONSULTING dominika.tomek@dachisgroup.com

CONTACTS

Social Media Fundamentals, Future of Retail

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