Plug and Play Presentation 021914

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Deborah Weinswig Chief Customer Ocer Anne Marie Stephen Vice President Retail Sales and Customer Development

description

Presentation from Mentor Session with Q&A discussing Deborah Weinswig's move from Wall Street to Silicon Valley/Silicon Alley and advice for startups on how to work with Wall Street.

Transcript of Plug and Play Presentation 021914

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Deborah Weinswig Chief Customer Officer

Anne Marie Stephen Vice President Retail Sales and Customer Development

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Follow the passion Life gives others lemons, entrepreneurs make, market and sell lemonade

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Profitect The Profitect software solution uses pattern analytics to identify revenue reducing activities, and integrated task management provides timely, detailed, and guided actions to resolve the issue. Improvements to the top and bottom line are continuously measured, ensuring sustainability across the business.

iInside We help our client measure, engage and optimize offline locations with actionable performance location analytics derived from in store shopper behavior measurement and shopper engagement.

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HOW WE GOT HERE The Journey

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DEBORAH

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●  1997-1999 - Strategist - Morgan Stanley ●  1999-2002 - Managing Director - Bear Stearns ●  2002-2013 - Managing Director - Citi Group

○  Top II Broadlines analyst from 2003-2013 ○  Top II Food and Drug analyst from 2005-2013

●  2013-Present - Profitect

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Intro to Tech Sector ●  Scott Friend ●  Guy Yehiav ●  Oracle Retail Strategy Council ●  Annual report ranking who was best and who was worst

from a tech perspective ●  Conference with Bain Retail VC Practice

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Wall Street to Silicon Valley ●  October 14, 2013 ●  3 Companies asked me to be on their Board of Advisors

○  Profitect ○  Tradestone ○  Rubin Singer

●  Profitect was looking for a Chief Customer Officer ●  Left Citi on October 28, 2013 ●  Started with Profitect on October 29, 2013

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Why I Chose Profitect ●  Focused on brick and mortar retailers, in addition to

other retail channels ○  Ensure success ○  Survival of traditional retail channel

●  Work with developers/REITs and help REITS and retailers

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Big vs. Small ●  Moving from a company of 250,000 to a company of ~50 ●  A single administrative assist ●  Cost conscious ●  Many remote employees ●  Learning new technology

○  Google Hangout

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ANNE MARIE

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Early Career •  In-Store Boots on Ground Retail • Sales and Management in Luxury and Department Stores • Wholesale Side SHIFT to Retail Technology nearly 10 years ago •  Video Technology and Analytics – Not so fancy name then •  Predictive Analytics •  Then came MOBILE

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Why Mobile and Location Analytics

• Clients got smarter o Once clients mastered initial data and driving results questions became

more detailed – what was happening inside the store • Hints that Mobile was growing

o With the predictive analytics the company was adopting a cross channel strategy – saw mobile growing

• Risk and Possibility o Took the opportunity join a mobile company, took the risk and knew that

it was the right time and right place

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Mobile • Dynamic platform •  Fluid - moves with customers • Mobile adoption rapid pace • Connect with the consumer • Generate lots of data

And I love data…

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LEAD THE HORSE Be the Expert

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Evangelist •  They don’t know what they don’t know • Not techies • Definitely not data scientists How to sell the value? •  You have to create the value

•  Understand their business, speak to their key issues, not all issues • Business challenge you are solving •  Jason Fried- 37 Signals/Basecamp – Job you are hired to do

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1.  Who you are 2.  What you do 3.  Why you do it 4.  Why Should They Care

•  Clear message to the market of who you are

•  Point of view

•  Business challenge or new opportunity you are evangelizing

•  How does this help them improve

or optimize

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Always keep in mind

They do not know what they do not know (even if they tell you they do)

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•  Tendency to talk tech

o  Need to speak plainly

•  Cool stuff it does o  Features are good but

Value is where it’s at

•  Clients believe they know your tech o  Make sure to clean up

gray areas

•  New technologies

•  Control your message

•  Control the scope

•  Start with the easy stuff, show improvement, then move to next

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Collect  Data  Bring  together  data  to  create  a  profit  hub  at  a  frac5on  of  

the  5me  

Get  the  story  Pa8ern  logic  automa5cally  iden5fies  the  “story”  from  

your  data  

Take  Ac2on  Automated  opportunity  delivery  with  associated  best  prac5ces  and  tasks  

ensure  consistent  execu5on  

•  Measure the current status •  Apply your solution •  Identify the opportunity •  Take Action •  Measure Results

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CHALLENGES WHAT YOU MAY BE FACING IN THE REAL WORLD

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Make it Proactive Relationship … Retailers move at a snails pace

•  Increased data and capabilities •  Increased stakeholders •  Increased number decision makers •  Increases sales cycle •  Slows down the Revenue Generation

Challenge: Speed up the process 9-12 month sales cycle

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WHAT WORKS What should it look like

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Organizational Clarity

Scalability Transparency Collaborative

Communication

PASSION and DESIRE to Go FAST

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Deborah Weinswig Chief Customer Officer

Anne Marie Stephen Vice President Retail Sales and Customer Development

M: 312.613.4434      O: 714.685.9776 x2006 E: [email protected] @IndoorAnalytics @AnneMarie_ams

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Q & A