In an industry of erratic consumer demand and short product life cycles, marketing in the fashion industry is a tough terrain to conquer. Add to that a highly fragmented social media landscape and you face a task that that may resemble Mount Everest. Believe it or not, there is a way to scale this beast. The term "SoLoMo" has been coined to refer to the incorporation of a social, local, and mobile marketing strategy. By combining the three you can create a strong customer community and brand advocate base.
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Contents
The state of play in the US Retail Sector
Marketing success for the Fashion
Industry
The Mobile Phenomenon
The 3 Cs of new customer’s engagement
(content, commerce, and community)
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Fashions next big thing … SOLOMO
Why do you need to be aware of it?
Why your customers will start using it?
What you need to do next
@social2b
@AccessoryNews
#S2BSoLoMo
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• US Economy in recovery
phase
• Retail sales driven by
personal income, interest
rates and consumer
confidence
• Retail sales trends
mimicking US economy
• Retailers need to take
advantage of
merchandizing, supply
chain management and
marketing
US Retail Industry: Market
Overview
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• Growth in the US
Fashion Retail
sector is moderate
at 4.2%
• Forecasted growth
of 28.8% by 2017
to US $671,776
million
US Apparel, Accessories & Luxury Goods
Industry: Growth
What will your stake be?
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US Apparel, Accessories & Luxury Goods
Industry:
Industry Analysis Summary
Source: MarketLine Advantage
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The market forces summary
Source: MarketLine Advantage
With forces of such as Intense Rivalry and Threat of New Entrants brands need to:
• Reducing customer acquisition costs
• Increasing customers switching costs
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Combining the forces successfully
Sources: Stella and Dot; mobify.com
Case Study – Stella and Dot
• Stylist trunk shows available in-home and
online:
– When the Stella & Dot team explored the analytics
of their website, they discovered that the stylists –
the company’s most influential user base – were
increasingly accessing the site from tablet devices.
Tablets gave the stylists an easy way to showcase
all of the website’s inventory at their in-home trunk
shows. When customers wanted to make a
purchase, the stylists needed to easily process
transactions on the spot – without having to switch
devices.
• Successful combination of e-commerce,
social media and highly personalized and
enhanced user/shopping experiences.
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Contemporary issues: Showrooming
• Customers inspecting merchandise in
brick-and-mortar prior to searching and
purchasing online.
• Create unique in-store experience to
drive traffic to the store and encourage
purchasing.
• Encourage customer experience and
design opportunities.
• Product differentiation.
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Social Commerce – Sharing and Social Influence
February, 2013
90% Of Customers Will
Recommend Brands After
Social Media Interactions
(Internet Advertising Bureau recent study)
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The Mobile Phenomenon – PC vs Mobile
• Social Networks
attracted 171 million
unique visitors on
both PC & Mobile
• Mobile has out-
performed PC on all
media platforms with
43% growth compared
to 8%
• Twitter had the most
growth in mobile
access with 101%
• Facebook recorded
the largest audience
Source: comScore
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The Mobile Phenomenon – Ad Spending
• Mobile advertising
spend has increased
by four times the
amount spent back in
2009
• The projected spend is
likely to hit US$3.5
billion by 2014
• Google accounts for
56% of all global
mobile ad revenues.
Facebook accounts for
13%
Source: Business Insider
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Most common „social tactics‟ deployed by brands
• Ratings and Reviews
• Microblogs and landing pages
• Social Recommendations
• Company Blogs (including video blogs)
• Client generated comments
• Product sharing on social sites
• Social Shopping Aggregator Sites (deal sites)
19. Most common „social tactics‟ deployed by brands –
Ratings and Reviews
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• Used by most retailers (also a
common function for many
eCommerce platforms – Magento,
Shopify, ATG, DemandWare, etc.)
• Opportunity to reduce content
creation efforts and shift to 3rd party
generated content
• Benefits to product development,
field testing, and up-sell/sell-through
(if well integrated with analytics and
customer service process)
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Most common „social tactics‟ deployed by brands –
Microblogs – (Twitter, Tumblr, Pinterest, etc.)
• Easy and relatively
inexpensive to launch
• Quick Disposal or extra
inventory
• Customer Service
extension benefits
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Most common „social tactics‟ deployed by brands –
Social Recommendations
• Opportunity to
‘crowd source’
opinion, i.e. Yelp
• Exposes clients to
more content
• If built in, increases
time on site and
upsell opportunity
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Most common „social tactics‟ deployed by brands –
Company Blogs
• Good opportunity for SEO
• Integration of content and
commerce through links,
suggestions, reviews and
‘shares’
• Low cost add-on to the
existing commerce site
• Relevance is important –
not just aggressive
promotion
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Most common „social tactics‟ deployed by brands –
Client Generated and Suggested „outfitting‟
• Assists in merchandizing support and cross-sells
• Customer Engagement
• Unique Approach
• Integrating ‘high-touch’ and digital experience
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Most common „social tactics‟ deployed by brands –
Product Sharing on Social Sites (FB+Twitter)
• More effective than
company’s social network
pages
• Opportunity to use
Facebook’s or Twitter’s
infrastructure to evangelize
the brand
• Best relevant sharing (with
events, item quality, item
level communications, etc.)
• Many options exist for
content publishing and
commerce on FB and
Twitter
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Most common „social tactics‟ deployed by brands –
What about Facebook/Pinterest?
• Integration of on-
site experience
• Brand Extension
• Feedback
aggregator via
surveys, polls, co
mments, shares, li
kes
• Opportunities for
storefronts on the
sites
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Most common „social tactics‟ deployed by brands –
Social Shopping Aggregator Sites
• Aggregated and
incremental traffic
• More engaged relevant
shoppers based on
preferences
• Conversion is moderate –
early in the sell cycle
• Behavioral aspects are
visible – based on
preferences, price
sensitivity, etc.
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Trends and Drivers for Social Commerce
Retailers are beginning to overlay
‘social graph’ on digital and brick-
and-mortar locations
SoLoMo – Social, Local and Mobile
is beginning to bridge the gap
between physical and digital
Commerce and Social Commerce
will unite the audience on physical
and social worlds
Gaming may act as a catalyst in
social commerce as an early driver
(Zynga, etc.)
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Trends and Drivers for Social Commerce:
Potential and How You can Improve
Millenials and younger generations are
looking for recommendations and
validation from peers anywhere and for
anything making the use of social media
essential
The ‘blending real life and digital life’
continues to grow with the integration of
Real-World and Social World
Mobile technologies and Smart Phones
will continue to augment the experience of
shopping
SoLoMo will continue to drive traffic to
brick-an-mortar through ‘social
engagement’ (Likes, Check-Ins, etc.)
Image credits: EdologicIL; RenaultNL
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Social Apps, games, local deals, mobile
technology are driving ‘addictive’
behaviors
‘Location based tracking’ through
Gowalla (FB) and Foursquare may help
drive traffic to stores (physical and
digital) and solicit immediate feedback
Location based monitoring and activation
(LocalResponse via Twitter and local
check-ins)
Trends and Drivers for Social Commerce:
Potential and How You can Improve
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Trends and Drivers for Social Commerce:
Example – Macy‟s „Magic Fitting Room‟
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Trends and Drivers for Social Commerce:
Example – Diesel‟s Integrated Social Experience
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What‟s next in Social Commerce Integration
Integration of social gaming and social
commerce – turning virtual currency
into real currency
Helping shoppers build collections and
sharing with friends – your way
(Polyvore, The Trunk Club, Fits.me, etc.)
Shopping content aggregation and
management, virtual closets, shareable
wish lists (SVPPLY, Groupon, etc.)
Specific interest graphs – new frontiers
evolving from Social Commerce – Social
Interest Graphs, integration of groups
and interests directed at brands, etc.
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What‟s next in Social Commerce Integration
Case Study – Walmart ShopyCat
Aggregated shopping helper (avatar)
integrating preferences and choices for
family members, friends and alike
interest groups
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What‟s next in Social Commerce Integration
Case Study – Pose
Mobile and Social Shopping
experiences. Share your branded
outfits with friends and family. Solicit
input and feedback. Get rewards for
sharing and featuring brands. Become
style influencers.
Good integration between social and
mobile channels. Excellent engagement
model.
37. The question not “Why SoLoMo?”
It‟s “Why not SoLoMo?”
SoLoMo
Combines Social, Local and Mobile
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38. Mobile has given us geographic precision
Large search engines are recognizing the untapped market in local search. This
issue was previously problematic for PC based searching. With smartphones and
apps driving the searches, the location efforts are exact.
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App design may enable:
•Store promotional deals directly to
the customer
•Details of new products
•Reporting capabilities on customers
whilst in store
•Engagement levels with customers
identifying themselves in store
locations
39. SoLoMo offers an enhanced customer
experience …
• The adoption of SoLoMo
strategy ensures that
customers are getting the
deals that will draw them
in to the store.
• Feedback from your
SoLoMo strategy will help
you deliver the right
products.
• Monitoring of all channels
will result in happier
customers and repeat
clients.
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40. … greater efficiencies…
• You can monitor your
clients.
• Delivering unique
customer relationship
management
opportunities.
• You can foster these
bonds with your
customer to ensure
greater service.
• The strategy gives
greater insights to realize
most profitable
customers.
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41. … increased engagement…
• SoLoMo allows companies to reach customers both on and offline.
• Online Social and Local competencies allows for community building and
client brand advocacy.
• Mobile gives real-time data to deliver better CRM solutions.
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42. and branding further opportunities.
• Establishing a Social Local Mobile
strategy allows you to brand across
more platforms of social media.
• The connection to your customer
through their mobile device ensures
that they feel personally connected to
the brand.
• This also provides the company with
better insights toward branding
strategies.
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43. More importantly SoLoMo enables measurement
• Customer insights
• Customer monitoring
whilst in store to deliver
better service
• Store sales data
• Business Reporting
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44. SoLoMo takes on the product market….
SOLOMO Exchange: Web-service platform enhances existing applications
through REST APIs.
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45. Next Steps
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Implementing a SoLoMo strategy
• Social
• Track all social networking accounts, blogs, websites, and short links on one dashboard – make them as integrated
as possible – allow for purchasing through different sites such as Pinterest and Facebook storefronts (or even Twitter
hashtags) to allow for increased visibility and traffic
• Use monitoring and eCommerce tools to track your success and assess customer satisfaction
• Engage directly – elationship management is key for brand loyalty – align your social media metrics / goals with
traditional marketing and business metrics / goals
• Mobile
• Ensure that your website is mobile-ready
• Integrate mobile apps / gamification (customer loyalty and rewards programs)
• Promote through SMS campaigns, mobile ads, QR codes, and other mobile-ready promotions
• Make sure all company profiles/social networks are mobile – accessible
• Local
• Use social media and mobile strategies to drive consumers to your brick-and-mortar location via local promotions
and check-ins – align strategies to maximize in-store traffic as well as online purchases
• In-store only specials/promotions (that can be promoted via social/mobile)
46. Next Steps
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• Make sure that you understand the technologies and tools
available to you. There are many platforms out there (such
Exchange) that can help you organize and monitor.
• Use big data analytics and sentiment analysis to understand
consumer behavior and be able to target them accordingly.
• A great way to be able to accomplish all of the above is to
partner with a social media marketing company (like Social2B)!
We specialize in this so we can walk you through best
strategies, tools, platforms, etc. to use to maximize your results!
48. Thanks for listening!
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Briarley Delaney, Marketing Analyst, Social2B (briarleyd@social2b.com / @BD4GT)
Briarley’s work experience over the last 8 years has been within the finance and banking industry. There
she has fulfilled analyst and leadership roles. With a passion for creativity and existing experience with
business analysis, in 2010, she pursued study in the marketing field. Briarley joins Social2B leveraging her
knowledge of international business and experience with social media marketing.
Alex Romanovich, Founder and President, Social2B (alexr@social2b.com /
@alexromanovich)
Alex Romanovich has more than 25 years of leadership experience helping build domestic and
international brands, bring service and product innovators into new markets, and guiding top-tier
companies. His senior-level marketing and demand generation executive leadership is always driven
by innovation and results. With combined background in marketing, technology, analytics, and
international business development, Alex has deep experience in software, media, online marketing,
social media, and professional service segments.
Jessica Spar, Marketing and Community Manager, Social2B (jbspar@social2b.com / @jbspar)
Jessica Spar is a content marketing and community management strategist, working with brands to
increase visibility across platforms. She has a strong background in project management, working with
clients to implement engagement strategies and tactics to support the client’s business goals and
objectives. Her past work experience includes targeted email marketing campaigns, in-depth work and
research on broadening audience outreach and diversity, coordinating/developing promotional
partnerships and events.
49. Social2B
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Accessories Council
Social2B is a Social Media Marketing, Consulting, and
Product Development Agency of top industry professionals,
dedicated to helping B2C and B2B clients leverage the
explosive growth of social media marketing. We create
solutions at the intersection of marketing, technology, and
social media that drive client engagement, conversion and
bottom line results, backed by unique metrics, measurement
and campaign management methodologies. We advise
Enterprise clients on social media maturity and scalability
issues, social value chain optimization strategies, while
helping them build the appropriate social media
infrastructure and integration points.
@social2b
The Accessories Council is a not-for-profit, national advocacy
organization established in 1995. Our mission is to stimulate
consumer awareness and demand for fashion accessory
products. The industry generates over 30 billion dollars annually
in the United States alone. Over the past 5 years, membership
has grown to include over 185 corporations representing the
world's leading brand names, designers, publications, retailers
and associated providers for the accessories, eyewear and
footwear industries. The Accessories Council sponsors
educational seminars, networking events, seasonal trend
reports, marketing and advertising co-operative initiatives, as
well as design and marketing awards for fashion students.
@AccessoryNews
More About Us
Editor's Notes
Alex do general introduction
Alex
Briarley will present overview of retail marketplace, challenges, etc. (can probably use blog as a sort of script to accompany)
Briarley – moderate growth but it is increasing
Briarley – competitive forces in the market. Main concern Rivalry & New Entrants. Why? Moderate growth, low capital outlay & low barriers to entry
Briarley – need to increase switching costs by raising brand loyalty & reduce customer acquisition costs by effectively mapping customer behaviour
Briarley – Stella & Dot an example. Herrin increased sales avenues to the customer. Trunk shows, not imposing the brand, rather offering customers a chance to invite and engage the brand
Briarley – Showrooming issue. But can be turned around. You need to entice people to the store and then give them a reason to buy there and then. Today hopefully we can show you ways to combat this.
Jess will transition into “so this is where social media can come in and help you emerge in the marketplace and gain back some of the power from the buyer.”
Jess transitions into how social commerce is only increasing in trend, how brands are using social networks and why people should get involved etc.As you can see social commerce sales are expected to continually increase over the next few years, reaching $30 billion by 2015.
Jess
Jess talk about how since retail and brand sites still most purchase, really important to optimize for mobile as well and really get the brand out there as many ways as possible. Once again social media still really important because of consumer’s frequency of use, so finding ways to combine social and mobile are key.
Jess: Getting into the mobile space and mobile purchasing. Although ecommerce is still a small part of retail sales, it is growing faster than offline retail.
Jess: since mobile is outperforming PC, make your mobile/tablet site faster than your desktop site - Google found that 20% of people abandoned pages when the load time increased by half a second. This can have an important impact on e-commerce sites, with a one second delay resulting in a 7% reduction in conversions.
Jess: The US mobile advertising market is growing far faster than expected, driven by the rapid ascension of Google’s mobile search advertising business, advertisers’ growing attraction to display inventory on tablet and smartphone devices, and the growing roster of mobile ad networks. We’ve seen a growth in real-time marketing/advertising (such as with Oreo’s “dunk in the dark” twitter ad during the Superbowl) which enables companies to reach people on the move and add an element of surprise and spontaneity when engaging with customers, keeping advertising from becoming predictable, and enhancing the user experience. Native advertising has also been implemented, to avoid the “banner ad” type of advertising on mobile, companies are integrating their advertising more into the user experience. Consumers look at native ads 53% more often than they look at traditional display ads. They are many routes to take with mobile advertising and a continuing search to enhance user experience. Mobile consumption is a multi channel experience, so you should be able to optimize that to engage with users throughout the day.
Jess: Over 50% of consumers are willing to post about products/services on social networks if they get a deal or discount.
Alex to go over case studies / social tactics.
Alex
Alex
Alex
Alex
Alex
Alex
Alex
Alex
Alex
Alex
Transition back to Jessica: so we’ve touched upon the value of social, and a bit about mobile, so where does the local element come into play? Talk about how on sites like Facebook you can add in these local elements, tag locations, etc.Because brick and mortar locations are using sites like Facebook as a social commerce interface it’s important to tie these social networks to their physical location and find ways to connect them.Social graph unlocks personal big data to power social discovery, awareness and action, so through this you can connect your brand to your users’ interests. Social graph connections are based on shared personal connections with social objects (i.e. the merchandise you’re selling). By combining graph data (social and interest) with commercial data, shopper marketers can deliver a more tailored, relevant shopper experience. Example: Amex. By allowing their customers to link their Amex cards to their Facebook accounts and Twitter hastags, American Express was able to analyze their Interest Graphs and dynamically recommend merchant offers based on likes and check-ins. They took this a step further by allowing their customers to link those offers to their cards.
Jess
Jess can talk about and personalize to her generationAlso geo-location app that through opt in it can know you’re in store and give you suggestions based on your data.Applications for this evolved approach to Social Merchandising are almost endless. Retail manufactures should start to create hyper-customized and socially informed offer boutiques for all of their key customer segments. Retail distribution platforms should start to consider how Social Merchandising may inform their circular innovation efforts.
Jess:So here’s some examples of what we were just talking about (apps)This is an early example – this type of trend and using SoLoMo concept has been around as far back as 2010 – Brought Digital Commerce to Life by combining In-Store Shopping With the Digital Luxuries of Social, Online and Mobile Capabilities: Macy's Magic Fitting Room featured, as you can see, a large-scale mirror with multi-touch technology that interacts with a multi-touch tablet and lets customers browse, shop and "try-on" the latest must-have items virtually, with the magic of style at the user's fingertips. Flip through the hottest tops, dresses, bottoms and coats from some of Macy's top designers and once complete you can send the whole experience to your Facebook page, SMS, or email, and shop all the looks in the store itself. As the role of retail changes and the lines between physical and digital continue to blur, agencies are tasked with providing innovative solutions that help marketers enhance the customer experience
Jess: Another popular choice for your social media promotions via mobile is to use a QR code.What’s great about the QR code is it employs traditional methods of static advertising (placed on window, bus, bench ads and more) yet when scanned, brings you into the mobile world, leading a user right to your choice of URL. This creates a unique user experience where they may come across the QR code by chance in their mobilized lives, but then it brings them to you through their device.
Jess: Facebook promo and using Facebook as a store front – about 20% of shoppers already prefer buying products through a brand’s Facebook page compared to its website.
Transition to Alex: So this is where the trends are going, what’s next?
Alex
Alex
Transition to Briarley – so we’ve seen how each of these can add to your success…..so why not?
Briarley – what does mobile do? It offers great geographic precision when it comes to your customer now giving you the option to actually measure and quantify customer behaviours
Briarley – benefits of experience. Data from mobile is enriched to give the customer better experience with brand.
Briarley – benefit for you is efficiencies as a business. CRM solutions.
Briarley – benefit engagement. Mobile now optimizes your online and offline data allowing you increased engagement scores.
Briarley – benefit of branding. Extend the branding opportunities.
Briarley – most important measurability for key stakeholders.
Briarley do quick intro into how this is actually a product and the following are capabilities that it has, but a lot of these also apply to principles you can implement without actually having a product.
Alex: next steps, here’s what you do next, wrapping up.
Alex: next steps, here’s what you do next, wrapping up.
Alex: next steps, here’s what you do next, wrapping up.