Driving Service Efficiency and Customer Engagement in Retail
The H-Factor: Driving retail success into the future
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Transcript of The H-Factor: Driving retail success into the future
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Dr Dennis Price
THE H FACTOR
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50%WILL FAIL…
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WILL YOU SURVIVE?
The OBVIOUS question is.
?HOW?
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DO YOU HAVE WHAT IT TAKES?
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RETAIL EVOLUTION1OBVIOUSLY
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SOCIETAL S H I F T
2OBVIOUSLY
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3
CHANGING CLIMATE
Who believes…
NOT SO OBVIOUSLY
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CHANGING BUSINESS PARADIGM
4
LEAST OBVIOUSLY
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Photo credit: gordonandthewhale.com
Para
digm
s 8 54 9 1 7 6 3 0
eight fivefour nineone seven six three zero
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Production Orientation
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Marketing Orientation
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Mutualistic Orientation
by ju
mbl
ejet
on
flick
r
Mutualism is any relationship between individuals of different species where both individuals derive a benefit.
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D*A*B*D*A
WHAT ARE WE TO DO?
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NEW PHILOSOPHYA
“We don’t see things as they are. We see them as WE are.
Anais Nin
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NEW BUSINESS MODELB
FLEXIBLE RETAILING
TRENDWATCHING.COM
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CUSTOMER EXPERIENCEC
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ANATOMY OF AN
EXPERIENCE
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PROMISE…
PROPOSITION…
POTENTIAL…
CUSTOMER EXPERIENCE
Situation Moderators
Consumer Moderators
PASTCUSTOMER
EXPERIENCES
Retail BrandExpectations
ProductPrice
Presentation/ Atmosphere
Alternative channels
Type of Store & LocationEconomic Climate
CultureSeasons
Goals/ Task OrientationSocio-demographics
Attitudes
Adap
ted:
Ver
hoef
et a
l (20
09)
© 2
011
D P
rice
SOCIAL ENVIRONMENT…
SERVICE INTERFACE…
Reference Groups: TribesReviews
Staff/ SkillsSystems
Style
CUSTOMER EXPERIENCE IS COMPLICATED
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CUSTOMER EXPERIENCE
Social
Affective
Cogn
itive
Physical
TouchSeeSmell HearTaste
NoveltyEpistemic
Social ProofFamiliarityReciprocity
ConsistencyLiking
AuthorityScarcity
IT IS EMOTIONAL
IT IS SOCIALIT IS M
ULTISEN
SORYIT
IS E
DU
CATI
ON
AL
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ComplimentAttractive
Similar
EM
OT
ION
= L
IKIN
G
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SOCIAL
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IT IS TEMPORAL
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SE
RV
ICE
EN
TE
RTA
INE
MO
TIO
NA
L
PRE-VISIT INTERACTION POST-VISIT
IT IS CUMULATIVE
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ENDORPHIN
OXYTOCIN
IT IS BASED ON TRUST
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1. Emotional2. Social3. Educational4. Multisensory
SUMMARY
1. Cumulative2. Demonstrate Trust3. Temporal
CONSTRUCTING THE EXPERIENCE
DELIVERING THE EXPERIENCE
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THE USUAL
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1. How can you make this Emotional
2. How can you make this Social
3. How can you demonstrate Trust
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A FREE MAP
WIDELY DISTRIBUTED
IN FULL COLOUR REMIND THEM IT IS
AN EXPERIENCE
EXAMPLE 12 Sep 2011
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EXAMPLE
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THANK YOU…
The H-Factor
“Once we’ve thrown off our habitual paths, we think all is lost; but it’s only
here that the new and the good begins.”
- Leo Tolstoy