Five Incredibly Important, Earthshaking Shifts in Consumer Behavior...in 30 Minutes!
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Transcript of Five Incredibly Important, Earthshaking Shifts in Consumer Behavior...in 30 Minutes!
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FIVE INCREDIBLY IMPORTANT, EARTHSHAKING SHIFTS IN CONSUMER
BEHAVIOR
Michael R. Solomon, Ph.D.
Professor of Marketing and Director, Center for Consumer Research Haub School of Business
Saint Josephs University, Philadelphia
IN 30 MINUTES!
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CONSUMER ENGAGEMENT: THE HOLY GRAIL
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Who dont want to be managed?
How do you manage customers
I am not a market segment.
1991
http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=ZA6dW7qlb1ktqM&tbnid=gQVQlr-ZyHOneM:&ved=0CAcQjRw&url=http://en.wikipedia.org/wiki/Generation_X:_Tales_for_an_Accelerated_Culture&ei=f7kpVIGvLoSZyQSz-oDoAw&bvm=bv.76247554,d.aWw&psig=AFQjCNGPu2NM0PJ5WCEmN9TiyfiU6hFjlw&ust=1412106997137770http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&docid=ZA6dW7qlb1ktqM&tbnid=gQVQlr-ZyHOneM:&ved=0CAcQjRw&url=http://en.wikipedia.org/wiki/Generation_X:_Tales_for_an_Accelerated_Culture&ei=q7kpVLucMc-zyASFjIHQCQ&bvm=bv.76247554,d.aWw&psig=AFQjCNGPu2NM0PJ5WCEmN9TiyfiU6hFjlw&ust=1412106997137770
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Weeds
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There are two kinds of people: People who think there are two kinds of people. And people who dont.
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The Positivist Tradition
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Rich / Poor North/ South Male / Female Young / Old
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Offline Online
Work Play
Self Possessions
Me We
Consumer Producer
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OFFLINE ONLINE
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The Digital Dichotomy
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The Digital Dichotomy
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Connected Visual Computing
3D Digital Entertainment
Virtual Worlds
Creating new digital worlds
Multiplayer Games
InternetData
PeopleEverywhere
The ActualWorld
CON
NEC
TED
CON
NEC
TED
CONNECTED
RichVisual
Interfaces
LIMITED RICH
Static Web Web 2.0 CVC
Real-world data visualization
Enhancing the actual world
Earth Mapping
Augmented Reality
CVC Research: Enabling Immersive Connected Experience Overview and Evangelism Plan, Intel Developer Forum.
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Facebook: $2 Billion
Microsoft: $2.5 Billion
Amazon: $1 Billion
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Through the Looking Glass?
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Reality engineering
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Virtual Worlds
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REALLY? VIRTUAL WORLDS?
Thats so. 2006
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As of January 2011, over ONE BILLION people worldwide participated in at least one virtual world.
Today that number is over 1.5 BILLION
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U.S. virtual goods revenues exceed $1.5 billion per year
Yes, BILLION. For products that dont exist.
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Plastic surgery in cyberspace
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Education
SJU SL Campus
http://www.youtube.com/watch?v=5S4DBnxwdAI
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Enterprise Training
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Shopping
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CELEBRITY LICENSING
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Youth research
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Trade Shows
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Sales Training
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38
Sales Meetings
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Online to Offline
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Integration!
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AUGMENTED REALITY!
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Google Glass
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Pay Per Gaze
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ARs Market Growth 60 million users at the end of
2013 (Jupiter Research)
Global advertising revenues at the end of 2013 =
$496 million (Research and Markets)
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Layar (Netherlands): 1.3 million downloads 14% of total Dutch smartphone user base
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AR can extend the customer experience in-store or out-of-home
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Can AR Save Print Media?
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WORK PLAY
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Students
Employees
Customers
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What is Gamification?
Playing Candy Crush at your desk.
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What is Gamification?
The application of gaming elements to non-game contexts.
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Gartner: By 2015, 40 percent of Global 1000 organizations will use gamification as the primary mechanism to transform business operations.
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Watched on YouTube over 17 million times. 66% more people took the stairs!
The Piano Staircase
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Badges
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Enterprise Gamification
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Consumer Gamification
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Chef
Expert: Chef: I can help with menu ideas or ingredient pairings for the low
price of $2.50.
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SELF POSSESSIONS
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Digitization trumps physical reality
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Pre-Digital Identity Management
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Digital Identity Management
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Erase your social footprint
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ME WE
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The Era of ME WE
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The Zero Moment of Truth via Google
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Social Shopping The online shopper simulates the bricks-and-mortar experience by trying on a garment via an outfit board or avatar. She accesses feedback from her network BEFORE she buys.
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Social Shopping in Stores
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CONSUMER PRODUCER
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Collaborative Consumption: From Owning to Leasing
AirBnB Quicar (VW), DriveNow (BMW) Citi Bike (Citibank) Spotify BookMooch Rent the Runway SnapGoods
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User-Generated Content: Engagement Vs. Control
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You dont own your brand anymore.
GET OVER IT
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Engagement Metrics
Source: Forrester Research Source: Forrester Research
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Offline Online
Work Play
Self Possessions
Me We
Consumer Producer
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Thank you
FIVE INCREDIBLY IMPORTANT, EARTHSHAKING SHIFTS IN CONSUMER BEHAVIORSlide Number 2Slide Number 3Slide Number 4Slide Number 5The Positivist TraditionSlide Number 7Slide Number 8Slide Number 10Slide Number 11The Digital DichotomyThe Digital DichotomySlide Number 14Connected Visual ComputingSlide Number 16Slide Number 17Slide Number 18Reality engineeringSlide Number 20Slide Number 21Slide Number 23Slide Number 24Slide Number 25Plastic surgery in cyberspaceSlide Number 28Slide Number 29Slide Number 30Slide Number 32Slide Number 33 Slide Number 35Slide Number 36Sales TrainingSlide Number 38Online to OfflineSlide Number 40Integration!Slide Number 42Slide Number 43Slide Number 45Slide Number 47Slide Number 48ARs Market GrowthSlide Number 50Slide Number 51Slide Number 52Slide Number 53Slide Number 54Slide Number 55Slide Number 56Slide Number 59Slide Number 60What is Gamification?What is Gamification?Slide Number 63Slide Number 64Slide Number 66BadgesSlide Number 69Slide Number 70Slide Number 71Slide Number 72Slide Number 73Slide Number 74Slide Number 75Slide Number 76Slide Number 77Pre-Digital Identity Management Erase your social footprintSlide Number 82Slide Number 83Slide Number 84Slide Number 86Slide Number 87The Zero Moment of Truth via GoogleSlide Number 90Slide Number 91Slide Number 92Slide Number 93Slide Number 95Collaborative Consumption: From Owning to Leasing Slide Number 98Slide Number 99Slide Number 100Engagement MetricsSlide Number 103Slide Number 104Slide Number 105