Future Proofing Your Marketing for the Shopper of Tomorrow
Transcript of Future Proofing Your Marketing for the Shopper of Tomorrow
Future Proofing Your Marketing For The Shopper Of Tomorrow7.13.2017
© 2017 Merkle. All Rights Reserved. Confidential
© 2017 Merkle. All Rights Reserved. Confidential2
Does retail even have a future?
The Retail Apocalypse
is coming
- Business Insider May 14th, 2017
Bankrupt Payless may double
its planned store closures
-Retail Dive
These 21 Retailers Are Closing
3,591 Stores – Who Is Next?
- Forbes March 2017
Office Depot closing
300 more stores
- Fortune
Abercrombie and Fitch:
Here Today, Gone Tomorrow
- Barron’s May 2017
Bear of the day:
Urban Outfitters
- Fortune
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The brave new world of retail: disruption, new business models, oh my!
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1950’s 1995+ 2013+Age of BRAND Age of CHANNEL Age of CUSTOMER
Direct-to-consumer business model One-to-one marketingCreation of national brands
INTERNET & ECOMMERCE
ADDRESSABILITY AT SCALE
NATIONAL MEDIA & MASS MARKETING
Driven by the age of the customer
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WELCOME TO THE FUTURE OF RETAIL
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The Expectation Economy reaches new heights
The word is convenience – the word is anywhere, anytime, however the consumer wants it.” Colgate-Palmolive
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Consumers taking on brand roles
PSFK & Cisco, Consumer 2020
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A Unified Digitally Enhanced Retail Experience
A ”PHYSICAL” FOOTPRINT FOR PURE PLAY DIGITAL
MANUFACTURER-BRANDED RETAIL EXPERIENCES THE RISE OF THE ”POP-UP”
CLICK & COLLECT
The end of physical vs. online - Enter “The Digital Store”
“We really thought there was a huge opportunity for our customer as well as for growth to be able to go into this brick-and-mortar segment of the business. This is kind of a perfect time to go into retail when there’s all these sort of other changes happening in the opposite direction.”
CEO, Threadup
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Rewriting the rules of shopping around real individual behavior and preferences
“As most apparel brands, high and low, could tell you, the transformation of their customer base from people acting out of allegiance to an inherited group ethos to people acting as individuals motivated by personal desire began taking place almost a decade ago.
Consumers of clothing began to make choices dictated not by what was expected of them or what had been prescribed for them from head to toe by a brand whose value system they inherited, but by whatever fit them best —whatever felt most tailored to them individually — at that moment.
The New York Times
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THE NEW RETAIL MARKETER
“The winning retailers will spend more time looking at the windshield and less time looking at the rearview mirror.” Dunkin Brands
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The marketing rule-book for the “age of the customer”
1 2 3Make your advertising
moreaddressable
Make your experiences
morepersonal
Manage yourcustomer
relationshipsover time
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Make your advertising more addressable
Know your customer across multiple dimensions Non-traditional customer-centric approaches to segmentations
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Wearable Technology
Sports Cars
DigitalWallet
Mortgage Auto Insurance
Social Recognition
A personal value focused on the shaping others’ perception of oneself. This could involve gaining social status, appearing responsible, belonging to a group, recognition of achievement, or even avoiding negative perception.
Make your experiences more personal by understanding motivationsRead the blogpost at merkleinc.com
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When an audience is shown an ad that
resonates with their decision chain & bridges the personal relevance gap, it is
more likely to lead to purchase intent.
Millennials were 15% more persuaded by ads that active a
social motivation compared to non millennials
+15%
MillennialsNon-Millennials
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Confident, healthyindividual
Social setting
Externally alignedheadline
Solo settingDriven, focusedindividual
Internally aligned headline
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Manage your customer experiences over timeRead the blogpost at merkleinc.com
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Loyalty is defined by relevant and meaningful interactionsRead the blogpost at merkleinc.com
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The Future of Retail is yours for the taking!
1 2 3Make your advertising
moreaddressable
Make your experiences
morepersonal
Manage yourcustomer
relationshipsover time
Download the 2017 Marketing Imperatives at merklein.com