sociomantic at drs: the customer conversion conundrum
DESCRIPTION
The next-generation of marketing technology aims to keep the consumer at the center of the commerce experience by allowing businesses to seamlessly interact with with customers when, where and how they choose. How are retailers personalizing the experience in the way customers expect? What are marketers doing to leverage technology and build out their capabilities to meet the needs of the connected digital consumer? Sociomantic’s Rob Sopkic will discuss how retail experiences are evolving to not only respond to customer needs, but to actually anticipate and satisfy them. Speaker: Rob Sopkic, vp of sales, north america, SociomanticTRANSCRIPT
THE CUSTOMER CONVERSION CONUNDRUM
SIX SIGNIFICANT iCONSUMER TRENDS
Source: McKinsey&Company, 2012 | iConsumer: Digital Consumers Altering the Value Chain
FOCUSON THE
CUSTOMER
= RETAIL 3.0MOBILE RETAILING
Source: McKinsey&Company, 2012 | iConsumer: Digital Consumers Altering the Value Chain
MULTICHANNEL INTEGRATION
+
TOP 5 MERCHANDISING INITIATIVESAND PRIORITIES FOR ONLINE BUSINESS
DISPLAY ADVERTISING CONTINUES TO SEE GAINS
DRIVEN BY RETAIL
Source: “U.S. Digital Future in Focus, 2013” by comScore
Enhanced targeting and personalization is making display
more accountable.
OF RETAILERS WILL SPEND MORE
ON RETARGETING IN 2013
Source: “The State of Retailing Online, 2013” a Shop.org study conducted by Forrester Research
63%
LEVERAGE CRM DATA TO GET FROM1st to 2nd PURCHASE
RECOMMENDATION
Initiate one-to-one marketing in display
like all other channels, e.g. email,
search & loyalty
• Customers Expect Experiences
• Mobile is a key part of their Journey
• Personalize as much of the Experience
• Leverage More Data in Advertising
SUMMARY
Thank YouRob Sopkic VP of Sales, North [email protected] T 415.637.5233
Social Media and Innovation in Online ShoppingCarrie WhiteheadZappos.com
24%34%
48%52% 56%
62%
% Who Currently Have a Profile on Any Social Network
Six in Ten Americans Have a Profile on a Social Networking Site
2008 2009 2010 2011 2012 2013
Edison Research and Arbitron, Infinite Dial 2013 research
Lady Gaga, Justin Bieber and Katy Perry have more Twitter followers than the entire populations of Germany, Turkey, South Africa, Egypt, United Kingdom, Canada, and Argentina
Social Media has overtaken porn
#1 activity on the Webth
e
Every minute 72 hours of video is
uploaded to YouTube
“We don’t have a choice on whether we DO social media, the question is how well we DO it.” – Erik Qualman
@BronxZoosCobra
186,800FOLLOWERS
75,650 followers in the first 24 hours
One to one One to many Many to many
Everything.com/technology
http://community.secondlife.com/t5/image/serverpage/image-id/40433i91CE7E110D0F82A4/image-size/original?v=mpbl-1&px=-1
Create deeper connections. See the person behind the profile.
Reciprocity: People tend to return favors.
Commitment and Consistency: People committing orally or in writing to ideas or goals are more likely to honor those commitments for self-image congruity.
Social Proof: People will do things they see other people doing.
Authority: People tend to obey authority figures, even when asked to perform objectionable acts.
Liking: People are easily persuaded by other people they like.
Scarcity: Perceived scarcity generates demand.
People are still people.
CONTENT
The opportunity for innovation lies in the intersection of Content, Context and Conversation.
CONTEXT
CONVERSATION
INNOVATION
CONTENT
It must be a good story, one that resonates with human emotions.
It should be fun and authentic. And can take on many different forms.
GlanceA simple and fun shopping experience bringing curated collections of the most exciting products from Zappos.
The Glance average order value is more than 50% higher than Zappos
Make the story relevant and memorable.
Make it discoverable. Be at the right place at the right time.
CONTEXT
Social BuzzDisplaying social activity on product pages to help support purchase decisions
50/50 AB Test
Those who clicked on tab were more engaged
Make the conversation popular. Get people to continue telling the story for true reach and frequency.
With a passionate enough audience, the people will close the sale.
CONVERSATION
ROI is great, but social media is an investment.
Continue to experiment, learn and evolve to look ahead and affect change.
Play, experiment and be human.