Kohl's Department Stores Center for Retailing Excellence Keynote Speaking Event
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Transcript of Kohl's Department Stores Center for Retailing Excellence Keynote Speaking Event
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Jeff FrommCo-Author “Marketing to Millennials: Reach the
Largest and Most Influential Generation of Consumers
Ever.”
EVP at Barkley, a fiercely independent ad agency.
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Copyright© 2013 by Barkley. All rights reserved.
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#LetsConnect
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Let’s talk Millennial
expectations.
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#settingthebar
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The Definition of Brand Value
We Knew and Loved
DIED.
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Copyright© 2013 by Barkley. All rights reserved.
The OLD Definition
Brand Value =Functional + Emotional
PriceΣ
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Copyright© 2013 by Barkley. All rights reserved.
The NEW Definition of Brand Value
Brand Value =Functional, Emotional & Participative Benefits
PriceΣ
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Copyright© 2013 by Barkley. All rights reserved.
The NEW Definition of Brand Value
Brand Value =Functional, Emotional & Participative Benefits
PriceΣ
Monday, September 30, 13
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Images via respective sites.Copyright© 2013 by Barkley. All rights reserved.
MILLENNIAL
MINDSET
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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The Participation Economy
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Creative Excellence to Content Excellence
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CREATIVEEXCELLENCE
CREATIVEEXCELLENCE
CONTENTEXCELLENCE
CREATIVEEXCELLENCE
CREATIVEEXCELLENCE
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Write this down...
“Useful is the new COOL!”
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So Here Are The Six Rules:
Engage early adopters of new technology.
Build a listening and participation strategy.
Buying into a brand idea is more powerful.
Design a sense of adventure and fun into your brand.
Embrace disruption.
Keep their loyalty.
Copyright© 2013 by Barkley. All rights reserved.
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RULE 1:
Engage Early Adopters
of New Technology
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Millennials are 2.5x more likely
to be early adopters of new technology
Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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RULE 2:
Build a Listening and
Participation Strategy
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Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.Copyright© 2013 by Barkley. All rights reserved.
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One-third of Millennials say they like a brand more when the brand
uses social media
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Source: http://weknowgifs.com/wp-content/uploads/2013/03/googly-eyes-meerkat.gifCopyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Taco Bell Joins The Snap Chat Community
Images via TwitterCopyright© 2013 by Barkley. All rights reserved.
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Images via TwitterCopyright© 2013 by Barkley. All rights reserved.
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Taco Bell Shares Secret:Beefy Crunch Burrito is Back
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Copyright© 2013 by Barkley. All rights reserved.
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RULE 3:
Buying into a brand idea
is more powerful than
simply buying a product.
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Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.Copyright© 2013 by Barkley. All rights reserved.
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70% of Millennials are more excited about a decision they’ve made when their friends agree with them.
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Images via Warbyparker.comCopyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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RULE 4:
Design a Sense of
Adventure and Fun into
your Brand
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Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.Copyright© 2013 by Barkley. All rights reserved.
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69% of Millennials say they consider themselves
adventurous
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Images via Freebirds Facebook PageCopyright© 2013 by Barkley. All rights reserved.
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Images via Freebirds Facebook PageCopyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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RULE 5:
Embrace Disruption
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Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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Meet Mike
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Copyright© 2013 by Barkley. All rights reserved.
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82,693 25,019 10,087,490
Stats of April 23, 2013Copyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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RULE 6:
Keep Their Loyalty
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Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.Copyright© 2013 by Barkley. All rights reserved.
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45% of Millennials will go out of their way to shop at stores
offering rewards programs
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Implicit Loyalty
Explicit Loyalty
vs.
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Image via southwest.comCopyright© 2013 by Barkley. All rights reserved.
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Copyright© 2013 by Barkley. All rights reserved.
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What if you have an iconic brand with an older core
audience?
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We need to
reevaluate how you
think of ROI.
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CORE OPPORTUNITIES 75%
EMERGING OPPORTUNITIES 20%
5%
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Storytelling
vs.
Storydoing
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THANK YOU
Copyright© 2013 by Barkley. All rights reserved.
@ JeffFromm | [email protected] | www.ShareLikeBuy.com
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