How to leverage multiple sales channels to reach retain cross channel shoppers
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How to leverage multiple sales channels to reach retain cross channel shoppers l.jpg

How to Leverage Multiple Sales Channels to Reach & Retain Cross-Channel Shoppers

Welcome!

May 13, 2008


Before we start l.jpg
Before we start Cross-Channel Shoppers

  • Submitting questions

    • Submit a question at any time by using the “ask a question” module on the lower right-hand side of your console

    • We’ll address these questions during the 10 minute Q&A section at the end of our presentation

  • Technical difficulties

    • Click on the help button

    • Use the “ask a question” interface


Today s presentation l.jpg
Today’s presentation Cross-Channel Shoppers

  • Highlights from the Krillion Consumer Survey

  • Current retailer and manufacturer strategies

  • Readiness recommendation checklist


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Today’s presenters Cross-Channel Shoppers

Lauren Freedman

President

the e-tailing group

Joel Toledano

CEO

Krillion


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About Krillion Cross-Channel Shoppers

What we do:

Product-based local search

Driving online users toin-store sales

Who we work with:

Leading manufacturers, retailers, publishers, and search engines

5


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About the e-tailing group Cross-Channel Shoppers

  • 14 years of e-commerce consulting

  • Author, “It’s Just Shopping”

  • 50+ years traditional retail and catalog experience

  • Fortune 500 client projects ranging from strategic planning, merchandising, marketing, to technology development and messaging

  • Proprietary research studies on:mystery shopping & merchandising; marketing and multi-channel customer mindset; In-Store Pickup and Gift Registry

  • E-commerce expert and frequent speaker at industry events, trade associations


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Purpose and methodology Cross-Channel Shoppers

To better understand the mindset of consumers who research productsonline that lend themselves to purchase at a local store.

The study highlights the role of Internet information resources, the retailer channel, and web-to-store convenience options offered online—such as in-store pickup and inventory availability—in shaping consumer purchase decisions.

  • Survey completed February 2008

  • 1,000 consumers sampled

  • 50% male, 50% female

  • Spend at least $500 online annually

  • Purchase online at least 4x per year


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Web-ready buyers are demanding Cross-Channel Shoppers

  • “Web-Ready Buyers” are demanding, doing their shopping “homework” well in advance of their purchase

  • “Web-Ready Buyers” who are predisposed to research online are willing to spend at least several days or weeks researching products

  • They are first and foremost problem solvers who leverage the web’s efficiencies to quickly find the right answers to their shopping needs


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These customers leverage all channels, Cross-Channel Shoppersseeking complete information

  • The role of the manufacturer online has been elevated: a visit to their site is often the first stop for savvy online information seekers

  • The store is an integral part of shoppers’ multi-channel buying experiences

  • Expectations are high for Web-Ready Buyers regarding:

    • the number of information sources they seek out

    • the features they expect to see on any given site

    • their propensity for using in-store pickup


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Saving time Cross-Channel Shoppers, convenience and saving money are consistently what matter most to consumers when using a local search engine to research products online

To the consumer, local is getting the right price for an in-stock product at a favored retailer

The ‘Local’ proposition is clear


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Prior to buying, consumers are spending Cross-Channel Shoppersconsiderable time online in ‘research mode’

42 percent of shoppers spend more than half of their total shopping time researching online

Q3


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Shoppers multi-source: Cross-Channel Shoppers72% look to the manufacturer’s website when researching major branded products online, while 54% seek out favored retailers

Beyond this, shopper styles affect where consumers start their research

Q6


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Consumers are first and foremost needs-driven, Cross-Channel Shopperswith many influences triggering their searchfor online product information

Word-of mouth continues to play an important rolesimilarly valued by consumers

  • Women are more traditional: favoring word-of-mouth, catalogs, magazines, newspapers

  • Men are more web-centric: embracing online promotions, banner ads and email

Q11


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Depending upon the complexity of the product category, those surveyed invest several days or even months researching prior to making a purchase

Q8


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Top 3 essential online resources: surveyed invest manufacturers, retailers, search engines

Secondary sources include shopping comparison sites,consumer magazines online, portals/directories, and blogs

Q13


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For complex product categories, surveyed invest manufacturer websites are the #1 destination

Q6



Exposing products can be facilitated via a series of different channels and a variety of means l.jpg
Exposing products can be facilitated via a surveyed invest series of different channels and a variety of means


Searching is part and parcel of the user experience where the best price is top of mind l.jpg
Searching is part and parcel of the user experience, surveyed invest where the “best” price is top of mind


Saving time 76 convenience 69 and saving money 64 are consistently what matter most l.jpg
Saving surveyed invest time (76%), convenience (69%), andsaving money (64%) are consistently what matter most

Q17


For online shoppers local means the right price for an in stock product at a favored retailer l.jpg
For online shoppers, “local” means the surveyed invest right pricefor an in-stock product at a favored retailer

Q15


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Shoppers expect websites to aid in research, surveyed invest provide up-to-the-minute information

Q16


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To help make purchasing decisions, consumers embrace peer-based content like product reviews (84%) and consumer surveys/studies (57%)

Product images (49%) and literature (48%) are expected sourcesof information that further support decision-making

  • Women trend higher on image and product reviews

  • Men care more about expert articles and videos

Q14



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When selecting a local store to make a purchase peer-based content like consumers desire a comprehensive websiteincluding convenience-centric, store-related services

Q9


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Store promotions and services are peer-based content like evaluated simultaneously


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The store is an integral part of shopper behavior peer-based content like frequently involving multiple store visits

For information-intensive purchases, consumers are more apt to research online and then complete their purchase at a local store

Q7


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Store visits often start with peer-based content like sophisticated retail locators


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55% have purchased a product online for in-store pick-up, increasing the role of web-to-store activity

Q4


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Merchants extend their reach, driving increasing the role of web-to-store activitytraffic to the store via in-store pickup


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Buyers who pick up in-store are motivated by increasing the role of web-to-store activityshipping savings and convenience benefits

  • Among women saving on shipping is even more of a motivator as it was selected by 63%

  • Note: Beyond saving shipping expenses, immediate needs and convenience will always play an important role in “local” shopping

*Other includes shipping not an option, out of stock online; taking advantage of a discount offered if picked up in-store

Q5


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Product locators with inventory access will serve as the increasing the role of web-to-store activityultimate foundation for future cross-channel conveniences


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Are you ready? increasing the role of web-to-store activity

  • Comprehensive content must be in place

  • Category-centric tools should give customers the control they demand to swiftly satisfy and solve shopper needs

  • Manufacturers must extend their efforts through retail and search partners

  • Cross-channel conveniences should be clear to shoppers

  • Merchants must think about both time and cost savings when structuring multi-channel experiences

Q5


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Lauren Freedman increasing the role of web-to-store activity

President, the e-tailing group inc

773.975.7280

[email protected]

www.e-tailing.com

The e-tailing group contact information


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Krillion: increasing the role of web-to-store activityleveraging product-based local search

Joel Toledano

CEO

Krillion Inc


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What increasing the role of web-to-store activityshoppers care about

Consumers think:“research online  buy offline”

Search on Google

Buy in a physical store

Who carries this product near me?

What does it cost?

Is it in stock right now?

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Search engines, shopping engines and increasing the role of web-to-store activitydirectories, are not one-stop shops

Search engines don’tprovide everything consumers need:

product

location

price

in-store availability

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In-store pickup is already popular increasing the role of web-to-store activity

2007 online sales (est.):$1.1 billion

2007 online sales (est.):$1.5 billion

55% picked up in store

40% picked up in store

In-store pickup averages $60 more per customer ticket

In-store pickup averages $154 more per customer ticket

Source: National Retail Federation

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And will become mainstream… increasing the role of web-to-store activity

eMarketer predicts:

  • Multichannel retailers will roll out more “buy online, pick up in-store” services.

  • Forrester Research reports 79% of multichannel retailers ensure consistent pricing across their channels.

  • Internet Retailer finds 75% of retailers link their e-commerce systems to their fulfillment and order management system.

  • Online ads remain resilient.

  • Video surge slows.

  • Social-network advertising hits $1.6 billion.

  • Networking goes beyond MySpace and Facebook.

  • YouTube decides the election.

  • Beijing Olympics pumps up ad spending.

  • Buy online, pick up in-store becomes expected feature.

  • Movie downloading hits the mainstream.

  • Music marketers roll out new business models.

  • Dynamic ads heighten gaming revenue potential.

Source: eMarketer Inc

39


How krillion enables web to store sales l.jpg
How Krillion enables web-to-store sales increasing the role of web-to-store activity

Krillion has built a huge local shopping dataset of manufacturers, SKUs, store locations & in-stock product availability – more than 700 million data elements, and growing

Leads!

Ready-to-buy consumers

  • Yellow Pages

  • Product reviews

  • Shopping sites

  • Widget on manufacturer websites

  • Search engines

Local Retailers

Krillion Localization EngineTM

  • Metadata by category

  • Product categories

40


The home depot case study increased click performance l.jpg
The Home Depot increasing the role of web-to-store activity case study:increased click performance

  • Launched: February 2008

  • Objectives:

  • Increase click performance online with contextual marketing

  • Drive sales through all Home Depot offers on/offline

    Results:

  • 4x conversions to “see it” locally button

  • 2x average CTR on all ad impressions served

41


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Panasonic increasing the role of web-to-store activity case study:sales uplift & tighter linkage

  • Launched: March 2008

  • Objectives:

  • Increase site capabilities to drive more sales to dealers

  • Offer real-time stock information

    Results:

  • Thousands of new views/month and growing

  • Double-digit conversions to “see it” locally button

  • Increased conversion to sale from Panasonic.com to dealers

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Bridging the Internet and the store increasing the role of web-to-store activity

Mobile coupons will capitalize on theweb-to-store opportunity

Offers sent to consumers drivein-store purchasing

Micro-local targeting through location-aware technologies“

What’s next?

“Mobile phones are more likely to be used in a multichannel shopping process than to

generate m-commerce sales.”

–Gartner Group, Feb. 2008

43


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Three ways to work with us to grow increasing the role of web-to-store activityyour web-influenced sales

Manufacturers: Krillion Product Locator drives revenue and directs in-store sales to dealers

Retailers: enhanced placements and integrated advertising to drive in-store sales

Publishers: Leverage Krillion’s product-based local search platform to increase audience engagement revenue opportunities

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For more information about working with Krillion to power your product locator or support your local in-store sales efforts, contact us at [email protected]

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Q&A your product locator or support your local in-store sales efforts, contact us at


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Thank You! your product locator or support your local in-store sales efforts, contact us at


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