Brand Mavens: How To Connect With Today's Most Powerful Shoppers
-
Upload
g3-communications -
Category
Retail
-
view
171 -
download
0
Transcript of Brand Mavens: How To Connect With Today's Most Powerful Shoppers
#BrandMavens
Follow This Webinar On Twi=er
#BrandMavens Retail TouchPoints: @RTouchPoints
CashStar: @CashStar
#BrandMavens
About Retail TouchPoints
ü Launched in 2007
ü Over 30,000 subscribers
ü To provide executives with
relevant, insightful content
across a variety of digital
medium
Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP
Confiden'al and Proprietary 5 Confiden'al and Proprietary 5 Confiden'al and Proprietary 5
Introduc8ons
Gary Lombardo VP Marketing, CashStar [email protected] 781.864.1679 @garylombardo
Debbie Hauss Editor-in-Chief, Retail TouchPoints [email protected] 201.638.6758 @dhauss
Confiden'al and Proprietary 6 Confiden'al and Proprietary 6 Confiden'al and Proprietary 6
> Executive Report Released Today
> Available to CashStar Innovate 2015 Attendees first
> Joint research done with:
Confiden'al and Proprietary 7 Confiden'al and Proprietary 7 Confiden'al and Proprietary 7
Brand Mavens Cannot Be Ignored
Today's most influenLal consumers are Brand Mavens: digitally engaged, brand-‐loyal consumers who influence others to buy. Brand Mavens cannot be ignored by retailers looking to survive and thrive.
Confiden'al and Proprietary 8 Confiden'al and Proprietary 8 Confiden'al and Proprietary 8
The Use of Branded Currency is at the Founda8on of Their Influence 68% would like to uLlize branded
currency — one card for compleLng payments, accessing loyalty points and redeeming coupons and promoLonal offers Branded currency makes it easy for them to shop & recommend a brand > motivates more frequent
purchases > encourages recommendations
to friends, family and colleagues
…and they are looking for "an enhanced shopping experience with seamless, loyalty integra'on, offer redemp'on, and shopping tools.” -‐ McKinsey & Company
Confiden'al and Proprietary 10 Confiden'al and Proprietary 10 Confiden'al and Proprietary 10
Brand Mavens Are Digitally Engaged
Most prefer to use digital giD cards for comple'ng payments:
75% are more likely to re-‐shop a brand if they can use their gi[ card for payment.
I use the following apps for managing and redeeming gi[ cards.
Most use mobile technology frequently, specifically mobile wallets and mobile payments:
54% use retailer specific apps 48% use third party mobile wallets
Confiden'al and Proprietary 11 Confiden'al and Proprietary 11 Confiden'al and Proprietary 11
Brand Mavens Are Brand Loyal
55% consider joining a brand’s loyalty program
51% are interested in tying their gi[ cards directly to a retail loyalty account (compared to just 28% of total U.S. consumers).
If given a gi[ card for a brand that I have never tried, I consider trying that brand.
I am more likely to re-‐shop a brand if it is easy to use my gi[ card for payment.
56% want to re-‐load a card, which will result in addiLonal sales and long-‐term loyalty .
Confiden'al and Proprietary 12 Confiden'al and Proprietary 12 Confiden'al and Proprietary 12
Brand Mavens Influence Others
55% influence others to purchase gi[ cards
47% encourage friends, family and co-‐workers to join retail loyalty programs (which is significant because 90% of consumers trust peers when making purchasing and loyalty decisions) .
Confiden'al and Proprietary 13 Confiden'al and Proprietary 13 Confiden'al and Proprietary 13
35%
24%
18%
23%
Brand Mavens Are Geographically Dispersed
Brand Mavens represent 53% of U.S. shoppers.
Confiden'al and Proprietary 14 Confiden'al and Proprietary 14 Confiden'al and Proprietary 14
Brand Mavens Are Mainly Female, Young and Married
60% are female
49% are 21-‐49 65% are married, in a domesLc partnership or civil union, or cohabitaLng with a significant other
Confiden'al and Proprietary 15 Confiden'al and Proprietary 15 Confiden'al and Proprietary 15
Brand Mavens Are Educated and Affluent
59% have a Bachelor or Graduate degree
89% are responsible for household financial
decision-‐making
Confiden'al and Proprietary 16 Confiden'al and Proprietary 16 Confiden'al and Proprietary 16
Brand Mavens Have Significant Purchasing Power
Confiden'al and Proprietary 17 Confiden'al and Proprietary 17 Confiden'al and Proprietary 17
How, When and Where are Brand Mavens Flexing Their Purchasing Strength?
Confiden'al and Proprietary 18 Confiden'al and Proprietary 18 Confiden'al and Proprietary 18
Brand Mavens Are Pervasive
They shop with gi[ cards and influence purchase and loyalty most frequently within certain retailer verLcals:
85% Restaurants 73% Department/Big Box
64% Fashion and Apparel
They also frequently shop and influence purchasing decisions with health and beauty, home goods and furnishings and outdoors and spor'ng goods retailers.
Confiden'al and Proprietary 19 Confiden'al and Proprietary 19 Confiden'al and Proprietary 19
Brand Mavens Are Omnichannel
Brand Mavens shop all channels:
90% Physical Store 79% Retail Brand Web Site
37% Mobile
8% Social
Confiden'al and Proprietary 20 Confiden'al and Proprietary 20 Confiden'al and Proprietary 20
Brand Mavens Are Informed
66% read product reviews before compleLng a purchase.
61% consult friends, family or co-‐workers before
making a purchase
.
Confiden'al and Proprietary 21 Confiden'al and Proprietary 21 Confiden'al and Proprietary 21
Brand Mavens Are Social
Brand Mavens have a well-‐connected social network and broad presence on social media, which they use to inform, educate, advise and influence others.
More than 28% share feedback about experiences via Twi=er, Facebook, Google and other social channels.
Confiden'al and Proprietary 22 Confiden'al and Proprietary 22 Confiden'al and Proprietary 22
How To Capture The A\en8on Of Brand Mavens For Success
Confiden'al and Proprietary 23 Confiden'al and Proprietary 23 Confiden'al and Proprietary 23
Embrace Branded Currency
68% of Brand Mavens want to be able to use one card for compleLng payments, receiving loyalty points and redeeming coupons/promoLonal offers.
Retailers need to simplify and unify the systems and processes that drive giDing, loyalty and coupons and promo'onal offers.
Confiden'al and Proprietary 24 Confiden'al and Proprietary 24 Confiden'al and Proprietary 24
Know Your Customers
Understand what moLvates your shoppers to purchase from you across channels, devices and geographies.
Create an integrated digital backbone that enables shoppers to purchase in a seamless manner while receiving incenLves to repeat purchase.
Confiden'al and Proprietary 25 Confiden'al and Proprietary 25 Confiden'al and Proprietary 25
Foster Advocacy The voices of Brand Mavens are loud and influenLal, so embracing them are important
Create ways for them to communicate and engage:
Email retargeLng
LocaLon-‐based messaging
2D Barcode scanning
Social Engagement
Confiden'al and Proprietary 26 Confiden'al and Proprietary 26 Confiden'al and Proprietary 26
Retailers Ahead Of The Digital Gi_ing Game
Confiden'al and Proprietary 27 Confiden'al and Proprietary 27 Confiden'al and Proprietary 27
REDcard Users
Visit Twice as Much
Spend 50% more
Mobile Shopping Hours
+ 251% in March 2014 compared to 2013
76% of those hours on Cartwheel & Shopping App
Sources: Trevis & Fortune
Confiden'al and Proprietary 28 Confiden'al and Proprietary 28 Confiden'al and Proprietary 28
In an e-‐gi_ card promo8on, JCPenney offered coupons as a bonus instead of another gi_ card, as well as rolled out integrated coupons and loyalty on different devices. This appeals to digitally engaged, brand loyal Brand Mavens.
Confiden'al and Proprietary 29 Confiden'al and Proprietary 29 Confiden'al and Proprietary 29
Sports Authority combines social media with digital gi_ing – just the 6cket to a7ract Brand Mavens! The retailer rewards shoppers who tweet inspira8onal and other messages with digital gi_ cards! Source: sweeLq.com
Confiden'al and Proprietary 30 Confiden'al and Proprietary 30 Confiden'al and Proprietary 30 30
Brand Mavens appreciate the ability to move between shopping channels, as in this Walmart example… Walmart shoppers received more than $2 million in Savings Catcher rewards in the program’s first 60 days. Source: thecitywire.com
Confiden'al and Proprietary 31 Confiden'al and Proprietary 31 Confiden'al and Proprietary 31
> ExecuLve Report Released Today
> Available to CashStar Innovate 2015 Attendees first
> Come grab one!
Read the Execu8ve Report to Learn More!
Confiden'al and Proprietary 32 Confiden'al and Proprietary 32 Confiden'al and Proprietary 32
Q & A // Panelists
Gary Lombardo VP Marketing, CashStar [email protected] 781.864.1679 @garylombardo
Debbie Hauss Editor-in-Chief, Retail TouchPoints [email protected] 201.638.6758 @dhauss