Social Media Fundamentals, Future of Retail

Future of Retail
Social on the Outside, Social on the Inside
Friday, 28 September 12

LONDON
LINCOLN
PORTLAND PHILADELPHIA
ST. LOUIS NEW YORK
AUSTIN

SINGAPORE

RIO DE JANEIRO
SYDNEY

THE WORLD’S LEADING SOCIAL CONSULTANCY FIRM
We are the leading global, integrated, end-to-end social business consultancy.
Working with 50% of the Fortune 500. Multi-year engagements. The largest group of Facebook
Preferred Developers in the world. 500+ Facebook sites, mobile and gamiﬁcation projects.


Our services

PERFORMANCE BRAND CONNECTED SOCIAL BUSINESS
MARKETING COMPANY INTELLIGENCE
+ Social brand strategy + Enterprise social + Dashboards & benchmarks
+ Applications and experiences technology + Data services
+ Community management + Workforce collaboration + Reporting & analytics
+ Advocacy programs + Workforce learning + SaaS applications
+ Listening programs + Social CRM
+ Inﬂuencer outreach programs + Change programs
+ Social media buying

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Some of our clients

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WE WILL DISCUSS

Where We Are Now Trends and What Next?
Examples


Where We Are Now Trends and What Next?
Examples


Is bricks and mortar
retail dead?

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“JCB retailer’s shares fall by a ﬁfth (...) it blames
performance on disappointing demand for Euro 2012 kits
and wet weather.”

“WHS sees 3 per cent fall in like-for-like third-quarter sales.”

“Mothercare- Strong performance outside UK helps offset
cost of store closures but baby clothing retailer warns
domestic market ‘remains tough.”

Source: http://www.ft.com/indepth/ukretailresults

We hear lots about the “death of retail”

39% of consumers rely on the websites for comparative
shopping.

UK found that 39% want to use mobiles to receive
personalised promotions.

52% want to use mobiles to checkout, and 42% to
locate products in-store.

Source: http://www-03.ibm.com/press/uk/en/pressrelease/38901.wss

While the future is mobile and social

So let’s go back
to the basics.

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Few understand what social truly means

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...and really understand what’s changing

Behaviours

Competition Expectations

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Competition: understanding your ecosystem

Online Retailer
Brands

Customer

Retailers

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Brands: the engaging “cool factor”

Brands have stolen the early march on
RELATIONSHIPS developing relationships with consumers on
the products and advocacy.

Its all about sharing, socialising, liking and
SOCIAL BUYING making it easy to buy when you want to.

In-store is all about the experience, but
F2F
it’s limited.

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Online retailers are becoming the norm

Online retailers have revolutionised what
SERVICE “good” customer service means, raising
the bar.

When you want it, where you want it and
CHOICE social.

Organising for social means that traditional
ROLES roles and responsibilities don’t need to
exist or are carried out by customers.

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Customers are the buyers

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Behaviours


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Customer journeys have changed
Customer Need Research Buy Feedback
Customer journey

“My shoes broke
after I wore them
once.”

Decision Point

1 2 4 5

Access to an Need and research take less time and are Consumers expect Enhanced feedback loop
exponentially often combined to have the option
Social media impact on

bigger pool of of buying online as
customer journey

consumers well as in the store

Use Rates,
reviews,
complaints,
etc.
3

The decision point is reached at an
earlier stage

Decision Point

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To a non-linear, multi-channel journey

Non-Linear, multi-channel, digital, consumer-controlled

Source : The OPEN Brand: Digital Trends for 2011 by Resource Interactive 19


Influence is shifting to the individual

Source: Eloqua & JESS3, The Message is the Messenger, March 8 2011 Source: Forrester 2010 Source: AdWeek, A Million Little Klouts, Dec 14 2001

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And the wisdom of the crowd...

Brands are striking deals with social networks.
Source: Wall Street Journal, June 30, 2011; Twitter
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Behaviours


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This means we now have a social consumer

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...who expects more from retailers

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So to summarise...

Understand your competitors and customer behaviours
1 and expectations for YOUR market segment.

Online retailers are raising the bar in service and re-
2 deﬁning market models.

Inﬂuence and trust is driven by peers, not the brands
3 or retailers.

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Where we are now Trends and What Next?
Examples


Moving to bricks and clicks?

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We see the market split into three segments

Early Adopters
Exec sponsorship, Long term vision

Doing “Enough”
Apps and Likes

“Hope it goes away”
But if I’m going to do it, do it long term

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...and follow three broad trends

Combining on-line and
Shopping experience:
1 off-line: Delivering on 3 Augmenting reality.
the brand promise.

Customer Service:
2 Delight your Customers.

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Combining the on-line and off-line

Likes, purchases and history are available
CUSTOMER and accessible across all channels.

Deliver on the same brand promise on-line
EXPERIENCE and off through every interaction including
marketing, sales and service.

Campaigns move between digital and
CAMPAIGNS physical with the end goal of people in
stores.

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Some recent examples where this has worked

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...including C+A in Brazil

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...and where the experience has not delivered

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Customer Service that delights

Move from “just enough” to a concept of
CUSTOMER delighting a customer.

Available whenever, wherever suits the
WHEN SUITS customer either through Twitter or Livechat.

Develop forums or communities where
passionate customers help customers
SELF-SERVICE
problem solve.

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Where Burberry’s new digital service leads

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Vodafone and SONY: users helping users

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Shopping Experience: Augmented Reality

Using apps, QR codes to help customers
INFORMATION get more information once in store.

PRODUCT Find the products, combine the products.

Listening to customers to understand where
WOW - FACTOR there is missed market demand, the “next
big thing”.

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Including Burberry and IKEA

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And then we have
next generation.

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Empowered employees: passion and knowledge

Employees are a companies most important
ADVOCATES assets to share passion authentically and
recruit top talent.

You are only as strong as your weakest
SERVICE employee - leveraging knowledge to deliver
outstanding service.

Internal social networks to share
KNOWLEDGE knowledge, best practice and customer
intelligence.

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Twelpforce: where employees act

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Big data as a decision driver

Using social data to drive internal decision-
DECISIONS making on regionalised supply chain, store
openings etc.

Using social listening to understand trends
PRODUCTS and complaints on competitor products, buzz
for product launch etc.

Listening to customers to understand where
TRENDS there is missed market demand, the “next
big thing”.

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And aspirational...

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Customer 360: combining social, sales, service
and marketing

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So what is
the future of retail?

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Bricks + Clicks can work if...

It’s all about providing an integrated customer experience across
1 every touchpoint, on-line and off.

Provide value-add in-store through passionate, connected
2 and empowered employees- beyond marketing.

Use social data to drive pro-active decision-making across
3 marketing, sales development and competitive insight.

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CONTACTS Dominika Tomek HEAD OF CONSULTING
dominika.tomek@dachisgroup.com

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Social Media Fundamentals, Future of Retail

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