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Wendy's Brand Approach to Increase Millennial Sales
- 1. • Adnan Dhiyan • Darren Alphonse • Yougui Qu (Josh) • Vidur Bhatia • Hanyu Lee (April) Brand Approach -Team B
- 2. Agenda Help bridge the gap between prospective consumers & Wendy’s to eventually increase market share for the brand
- 3. In this Presentation • Our target audience • Wendy’s current approach • Where the problem lies • Our solution • Suggested calendar • KPI’s • Budget allocation
- 4. One Line Brief “Declining sales especially among Millennials”
- 5. Who are Millennials 'Millenials‘ 18-35 year old "Business Minded" "Tech Savvy" "Young" adults
- 6. The Millennial Consumer 41% have no landline at home & rely on their Mobile phones 31% earn enough to support “their” lifestyle 14% of Millenials use twitter 56% think Technology helps people use their time more efficiently27% are self employed 80% have their phones with them even while sleeping Will make up 50% of the workforce in a few years Send an average of 20 texts a day Have an estimated purchasing power of $170bn a year 79mn Millenials in US vs 48mn GenXers
- 7. What keeps them occupied Source: The new Multiscreen World published by Google, August 2012
- 8. What are these interactions? Avg Time spent by Millenials interacting with Media Source: Statista,IPSOS, Crowdtap data. 18-36 Yr Old Adults in US, 2014
- 9. Mobile Usage Share of time spent on Mobile Apps Source: comScore Media Metrix MP and Mobile Metrix, U.S, June 2015 Consumers facing customer facing tech in restaurants Consumers not facing customer facing tech in restaurants
- 10. Social Media Social Media usage among Millenials Source: comScore Mobile Metrix Report June 2015 Snapchat is becoming popular among our TG but the question is, does every platform have to speak the same story?
- 11. Current Approach TVC’s since the beginning have been product centric. Ad spends on Frosty(54%, Hamburgers23% and the Value Menu 30% Minimal spends on display ads on websites Facebook, Twitter and Instagram are all treated more or less the same. Content is more or less replicated. It doesn’t leave the consumer with a reason to be with Wendy’s on every platform 482,000 Mobile website visits and no online sales! Online ordering only via My Wendy’s App Source: comScore Media Metrix and Ad Metrix report 2012
- 12. Task in Hand Attract consumers of other brands to become Wendy’s consumers
- 13. Our Solution Service.Care.Quality Convenience through Technology Speak 'their language' at their 'convenience' #TrendyWendy
- 14. Mobile 30% 29% 31% 18% 19% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 18 to 34 35 to 44 45 to 54 55 to 64 65+ Shareofrespondents Age % of respondents who use mobile apps at least once a month to order food Our App No Online ordering on our app! App + ordering = Sales!
- 15. Mobile The Problem A mobile app upgrade that does it all! QR Code technology at drive thrus Push Notifications for Coupons Immediate complaint forum Mobile Wallet/tap to pay Love it? Share It!
- 16. Web Google trends show the magnitude of searches for competitive brands Opportunity via targeting! Source: Google Trends Google trends reflecting trendline of searches for the three brands in USA
- 17. Web Strategy 58% 17% 14% 14% 7% 6% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Via the restaurant website from a computer Via the restaurant website from your smartphone Via an app from a computer (desktop/laptop/tablet) Via an app from your smartphone Via a third-party website (such as GrubHub, Foodler,… Via fax Answered yes Ecommerce + SEM=Sales SEM CompetitionGenericBrand Source: American Express data on Statista. Sample size includes 500 people Share of people who ordered food (by pick-up or delivery) using any of the following tools?* Google Display Programmatic Buying
- 18. Social Media Twitter InteractionFacebook Interaction Instagram Interaction
- 19. Social Media #TrendyWendy Launch approach: Promote Wendy’s new features on Social Media. Sustenance/Long Run Approach Twitter becomes a consumer conversation medium rather than just an awareness media. We identify influencers and build loyalists. These in the long run will become our brand ambassadors Custom audience reach on FB, sponsored posts and paid instagram push to maximize reach via mass media Geo Targeted Specific Posts to people not just around Wendy’s stores but also around competition
- 20. TV and Print Entertainment Fashion Health Sports News Target Base Total '000 Index Cable Services: MTV2 15,083 242 Cable Services: Adult Swim 16,603 237 Cable Services: TeenNick 6,749 223 Magazines: Game Informer 10,560 230 Magazines: Fit Pregnancy 1,853 225 Magazines: Teen Vogue 3,578 223 TV Show Types: Game Shows-Primetime 4,998 120 TV Show Types: Soccer 10,086 118 TV Show Types: Situation Comedies - Primetime 8,715 117 Genres to be targeted Top Media Source: MRI Data
- 21. • Purchase Driven Tactics – January thru April & September • Awareness Based Communication – May thru August Sales trends in Limited Service Eating Places over a 5 Year Period Source: Census.gov 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 January February March April May June July August September October November December 2014 2013 2012 2011 2010
- 22. Calendar and Budget Activity February March April May June July Aug Sep Oct Nov Dec Jan % Share Social Media TV Print Display Media ProgrammaticBuying SEM Social Media Ads Mobile Ads 30% 60% 10% Our Budget allocations & calendar are based on competition targeting and seasonality. High Burn Medium Burn Low Burn
- 23. KPI’s Facebook 2% increase month on month in follower base and 1% increase in the interactions Twitter 2% increase in the followers base month on month. At least 3 tweets a day depending on the audience interaction. Instagram 5% increase in the interaction and 3% increase in the fan base Snapchat build platform and convert snaps to sales 6 months after going live Website/E-com build platform and monitor sales via website. Projection to be made based on quarterly data SEM Keyword list to be refreshed fortnightly. Maintain conversion rate at 5% for SEM activities. Media Buy Display Media Buy display and programmatic buy plans to be based on reach and Frequency Mobile App Increase in number of downloads and time spent on the app. Conversions/Sales via app TV Reach of media used
- 24. Result Advertising spending of Wendy's in the United States from 2010 to 2013 (in million U.S. dollars) The Wendy's Sales Spend 10 Million more, sales will be Year advertising sales 2010 281 1,980.6 1,678.61 2011 273 2,050.1 1,748.73 2012 279.6 2,129.3 1,818.84 2013 290.3 2,102.9 1,888.96 2014 284 1,608.5 1,959.07 Average 282 1,974.28 Budget 10 70.11435471 Wendy's market share in 2014 13.90% Total market 11571.942 Market share at the end of next fifth year 16.93% Market Share increase 3.03% Trendy + Wendy= Sales!
- 25. Conclusion • Problem- Declining sales among millennials • Solution- Convenience through technology • Results- Greater than 3% increase in sales in five years!
- 26. Thank You
Hinweis der Redaktion
- Hello everyone. I'm Vidur Bhatia and I represent Team B. Before we start I'd like to thank you all for this opportunity and even for the sleepless nights that came with it. We’ve learned a lot from this competition and from each other's strengths and our shortcomings and specially from Stephanie and Anooshka. Wendy's as a brand has certainly evolved over the last few years, as has its competition and so has its audience. But over the years it has also witnessed a decline in sales especially among the millenials. We’re here today with a series of solutions that could help Wendy’s increase their market share over the next few years.
- In order to get to the solution we’ll take you through our understanding of the target audience, a brief overview of how we are reaching out to them as Wendy’s and the existing consumer’s profile. Our solution is diversified across different media hence, we have also tried to define the performance indicators for each media.
- The problem put together in one line can be described as a decline in sales specially among Millenials. We’re here to understand the Millenial Behaviour and Psychology in order to come out with a effective solution. Be it due to convenience store offerings or due to ppl becoming conscious about what they eat. While we can't work towards changing the latter, we can certainly make it work on the "convenience" front.
- Statistics show that US has 79 mn Millenials and they are inseparable from technology. They love their devices and gone are the days when you would actually be excited to see someone with a mobile phone. Again, Wendy’s as a brand has evolved and so have its consumers. But has it evolved at their pace?
- The millennial audience of today is busy. Busy on social networks. Busy surfing the web. Busy using mobile phones. It is important for us to understand what is it that they do online
- More or less everything that is offline is now available online. A couple of days ago I wanted to watch a show that’s aired in India and not here. It is available if I pay more but who does that. I logged onto my laptop and saw it online. I ended up watching much more thereby contributing my tiny bit to this share. What I’m trying to convey as a bigger picture is that Online mediums are bringing together content available at people’s convenience. Gone are the days where one actually has to stay up and finish all chores to sit and watch that soap opera you waited for all week. You’ll stream it now! It is at your convenience!
- It is not wrong to assume that whatever is on the web is on mobile as well. With HTML 5 based websites and a universe of apps available to the smart phone owner, there is enough and more to spend time on. But what is it thats taking up our consumers time on Web and Mobile? Darren will now talk about what is this thing and a brief situational analysis for Wendy’s
- Social media has become a coherent part of the Millenials. We’ve come to a point where people would love taking a picture of the scrumptious cheeseburger you just ordered at a fast food restaurant and snapchat or instagram it but they might think twice before chomping it down all the way. Nonetheless Social media remains a major part of their lives. With such a wide variety of platforms and their offerings, consumers can spend huge amounts of time on them. FaceBook & Instagram top the social media usage and snapchat is actually becoming more popular than twitter!
- Before we get towards our solution, we’d like to take you through what Wendy’s is doing currently. Some of these are brilliant solutions. Right from when Wendy’s started advertising on TV, it’s commercials have been product centric. Be it a specific product launched or even generic food based communication. Digital mediums on the other hand have more online content to view but again, it is all product centric. On the internet and social media ads, frosty is given more weightage in terms of spends and as share when compared hamburgers and value meals. Once again, different platforms need different treatments. At the moment almost replicate what we do across one platform on the other. The same communication on all except a few minor differences. We also have a mobile app. The reviewes reflect mixed feelings but the app does miss out on some crucial aspects that we will cover in the depth of this presentation.
- McDonalds is a market leader and giant when it comes to fast food. Our task is simply to attract their consumers towards us. Easier said than done but it really wouldn’t be that difficult from how we see this.
- Finally, keeping in mind Wendy’s philosophy of Service Care and Quality we want to bring convenience to the consumer through technology. The solution to make Wendy, trendy we came up with a campaign #TrendyWendy
- Our research led us to find that Wendy’s does not support online ordering via its Mobile app! Statistics show that a chunk of our target audience actually orders online at least once a month and that too using mobile apps!
- We also noticed a couple of other things TrendyWendy’s Mobile App could do. A number of complaints online showed that people have a lot of trouble ordering food at Wendy’s drive throughs. We came up with a simple solution of a QR code based technology! Next time youre at a drive through, scan what you want and you can even pay with your mobile wallet!
- The graph represents Google trends for Wendy’s vs its competition. If you look here you’ll notice the gap between searches for Wendy’s vs searches for mc donalds online. While some might see this as a low search volume. We see this as an oppurtunity. How? People are looking to order food online, they are looking at our competition, that’s where we jump in via Search engine marketing. WE target people looking for our competition.
- Here’s how we do it. With our three pronged approach to SEM, we will reach out to consumers looking for fast food on Google. We’ll even target search keywords based on competition searches. Furthermore, using Google display and Programmatic Buying we’ll expand out reach to boost awareness campaigns. The statistics here show people look towards ordering online. 58% of our audience orders from a website at least once a week and we have no e commerce on our site or on our mobile app!
- Looking at data available on databases such as MRI, Entertainment and Sports rank high in terms of consumption both on TV and print. These are the genres we are looking at for Wendy’s. Our audience loves watching TV shows, loves reading magazines, but again, this is the digital age. While we plan to use TV to maximize reach and brand recall, our TV and print outlay should not be huge.
- Observing sales trends for Wendy’s for the last five years, we can base our media outlay on seasonality. We start with awareness driven activities in February when sales are low and we want to build up the band recall for when you crave a burger. Retail driven strategies kick off when sales are high, to sustain the peak that we achieve.
- While we have based our KPI’s basis estimations, it would be right to review these in a few months once we have actual numbers ahead of us.