Upload
g3-communications
View
861
Download
0
Embed Size (px)
DESCRIPTION
How does pricing effect the customer experience? Recent and historic research from ForeSee, a pioneer in technology-driven customer satisfaction analytics, illustrates that price is affecting customer behavior in new ways. Base price actually is one of the lowest impacting elements for a majority of companies when it comes to measuring the consumer experience. On the other hand, daily deals and mobile technology are changing customers' behavior and expectations when it comes to price and brand image.
Citation preview
#InfluencePurchases
Influencing In-Store Purchase Decisions In The Era Of Daily Deals
#InfluencePurchases
Presented by Sponsored by
#InfluencePurchases
Type ques)on here
Welcome Webinar Attendees
#InfluencePurchases
Follow This Webinar On Twitter
#InfluencePurchases
#InfluencePurchases
About Retail TouchPoints
Launched in 2007
Over 23,000 subscribers
To provide executives with
relevant, insightful content across
a variety of digital medium
Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP
#InfluencePurchases
Panelists
Larry Freed President & CEO ForeSee Results
Debbie Hauss Editor-in-Chief Retail TouchPoints
Marty Johnson Product Manager
Zebra Technologies
MODERATOR
Larry Freed President & CEO
@larryfreed [email protected]
INFLUENCING PURCHASE DECISIONS THE IMPACT OF PRICING
PRICING DOESN’T MATTER AS MUCH AS YOU THINK (UNLESS IT MATTERS MORE THAN YOU THINK)
8 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact
ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
Price is the highest impact element
for 15% of the sites
Price is the lowest impact element
for 10% of the sites
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
9 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Satisfaction Model
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
10 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Satisfaction Model: Price Impact
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
11 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Historic Impact of Pricing
Historic Impact of Price H
ighe
r Im
pact
Source: ForeSee E-Retail Satisfaction Index
12 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Historic Impact of Pricing
Historic Impact of Price H
ighe
r Im
pact
Source: ForeSee E-Retail Satisfaction Index
13 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact
ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011 Only 1 site in the Holiday Top 40 had Price as the highest impact
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
14 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
15 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Price Impact
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
16 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact by Category
Pricing Impact by Category
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
17 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact by Channel
Pricing Impact By Channel
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
18 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact by Company
Impact Ranking
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
19 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact by Company
Impact Ranking
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
20 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Pricing Impact by Company
Impact Ranking
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
PREDICTIVE CUSTOMER SATISFACTION ANALYTICS
22 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Predictive Customer Satisfaction Analytics
How are we doing? Performance of Satisfaction, key drivers and desired outcomes
1
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
23 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Predictive Customer Satisfaction Analytics
How are we doing? 1
What should we do? Areas of focus defined by impacts
2
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
24 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Why should we do it? Causal model predicts behavior
Predictive Customer Satisfaction Analytics
How are we doing? 1
What should we do? 2
3
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
25 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
The Impact of Price on Satisfaction
Price
Satis
fact
ion
26 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
The Impact of Price on Satisfaction
Price
Satis
fact
ion
27 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
The Impact of Price on Satisfaction
Price
Satis
fact
ion
28 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
The Impact of Price on Satisfaction
Price
Satis
fact
ion
Impact
TODAY’S CONSUMER
30 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Today’s Consumer
Knowledge Social
Choices Channels
Lower Switching Costs
Consumer in Control
DAILY DEALS CAN IMPACT PRICING EXPECTATIONS
32 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
33 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
34 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
35 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
36 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
37 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
38 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Daily Deals in Today’s Multi-Channel World
2012 ForeSee Daily Deal Report
MOBILE CAN HAVE AN IMPACT ON PRICING EXPECTATIONS
HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED
Mobile’s Multi-Channel Impact
Mobile increases consumer control and not just within the mobile channel…
Mobile is both a stand alone channel and a companion channel
HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED
Why Do Shoppers Use Mobile?
46% research info about a product
36% compare different products
28% get product specifications
22% check out product reviews
16% make a purchase
10% find a store location
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED
Multi-Channel Interactions
17% mobile shoppers visited more than one channel when shopping
for a product
46% of these visited the store as their first step
28% of these visited the web as their first step
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED
Use of Mobile Within a Store
Why do shoppers use mobile in a store?
65% store’s website
43% competitor's site
26% shopping comparison site
21% store’s mobile app
14% competitor’s mobile app
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
TODAY’S ANALYTICS CHALLENGE
45 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
A Multi-Channel, Multi-Device Consumer
Today’s Analytics Challenge
46 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Single Channel Metrics +
Today’s Analytics Challenge
A Multi-Channel, Multi-Device Consumer
47 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Single Channel Metrics
A Multi-Channel, Multi-Device Consumer + = Misinterpreted
Metrics & Misguided Information
Today’s Analytics Challenge
48 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Customer Experience Analytics
Behavioral Analytics Measure success from organizational perspective
Customer Satisfaction Analytics Measure success from consumers perspective
CUSTOMER EXPERIENCE ANALYTICS ECOSYSTEM
50 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Customer Experience Analytics Ecosystem
51 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Customer Experience Analytics Ecosystem
Measure What Happened
52 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Measure What Happened
Watch What Happened
Customer Experience Analytics Ecosystem
53 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Measure What Happened
Watch What Happened
Customer Experience Analytics Ecosystem
Listen
54 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Predict What Will Happen
Measure What Happened
Watch What Happened
Customer Experience Analytics Ecosystem
Listen
WHY MEASURE SATISFACTION
56 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Why Measure Satisfaction?
Experience and Expectations define Satisfaction
Satisfaction determines what consumers do next
Satisfaction drives financial success
57 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Why Measure Satisfaction?
The Value of a Satisfied Shopper
72% more likely to purchase online
56% more likely to purchase offline
67% more likely to purchase from the retailer again
69% more likely to recommend the retailer
Source: ForeSee E-Retail Satisfaction Index Top 100 Spring 2012
58 HOW TO MEASURE THE INTANGIBLE MULTI-CHANNEL IMPACT OF MOBILE COMMERCE > LARRY FREED
Why Measure Satisfaction
A highly satisfied mobile shopper:
100% more likely to buy from the mobile channel again
67% more likely to recommend
65% more committed to the brand overall
Source: ForeSee E-Retail Satisfaction Index Top 40 US Holiday 2011
FORESEE Proven methodology & trusted technology helps you:
Continuously measure satisfaction across channels & touch points
Discover critical insights
Prioritize improvements for maximum impact
60 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
ForeSee Products
Measurement Analysis Benchmarks Competitive Studies
Web Mobile
Contact Center Stores
Social Media Customer Relationships
61 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Some of the Companies We Measure
½ of the Fortune 100 40 of the Top 100 Online Retailers
Over 600 customers Over 1000 active measures Over 70 million surveys collected Over 80 industry benchmarks
62 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Takeaways
You cannot manage what you do not measure
The consumer is multi-channel & multi-device with unprecedented power
Measure success from the customers’ perspective
Traditional (behavioral) metrics alone will not tell you enough about the customer experience
Customer satisfaction drives conversion, loyalty, retention, word-of-mouth…and financial success
63 MANAGING FORWARD: ANALYTICS TO UNDERSTAND THE MULTI-CHANNEL, MULTI-DEVICE CONSUMER
Larry Freed President & CEO (734) 205-2555
[email protected] @larryfreed http://blog.foresee.com/
#InfluencePurchases
About Zebra Technologies
A global leader respected for innovation and reliability, Zebra Technologies Corporation (NASDAQ: ZBRA) offers technologies that give a virtual voice to an organization’s assets, people and transactions, enabling organizations to unlock greater business value. The company’s extensive portfolio of marking and printing technologies, including RFID and real-time location solutions, illuminates mission-critical information to help customers take smarter business actions. For more information about Zebra’s solutions, visit www.zebra.com.
#InfluencePurchases
Q&A // Submit Your Questions
Type ques)on here
#InfluencePurchases
Q&A
Larry Freed President & CEO ForeSee Results
Marty Johnson Product Manager
Zebra Technologies
#InfluencePurchases
Thank You For Attending This Webinar
You can download this presentation at:
http://rtou.ch/instorepurchases
#InfluencePurchases
Join us next week for…
http://rtou.ch/inventoryoptimization
Stocking The Inventory Optimization Thursday, July 26 1 PM ET / 10 AM PT