three forces of change affecting us retail - a look at technology

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ABOUT TECHNOLOGY TRENDS LET’S TALK

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ABOUT TECHNOLOGY TRENDS LET’S TALK

DIGITAL HYPER-PERSONALIZATION TREND 1:

Personalized digital content isn’t new, but the level of personalization, including when and where people receive content, is changing. With the increase in smartphone ownership, the rise of big data and the sophistication of both brands and tech partners, consumers are going to start to see even more targeted content delivered to them at the moment they need it most. Also impacting this trend is consumer confidence as trust in data owners as been shaken and concerns of big brother have been growing. !

If the industry has only scratched the surface of personalized content & delivery, how will we keep up with consumer demand?!

Ibeacon senses when you walk into a store

Office Depot’s New Loyalty Program

Groupon Manage Subscriptions Page CVS My circular ad

THOUGHT STARTER QUESTIONS: Is content a priority for your organization? If not, has it been discussed and is there alignment on its value? Do you have a content strategy? If so, has it been successful? How and why? How do you think it could be improved to meet the real-time consumption habits of today’s consumer?

THOUGHT STARTER QUESTIONS: Do you know what types of content is valuable to your consumers? How do you think content can influence purchase decisions (where to shop and what to buy)? How can your company leverage content to drive sales?

TECHNOLOGY “FRIENDS” TRADITION TREND 2:

More and more personal and professional relationships are starting in the digital world, especially with the explosion of social media from Twitter and Instagram to LinkedIn and Google+. It’s easy, low risk and rewarding. It allows the user to reach people and ideas to which they may never have had access. But in order to maintain, develop and foster those online relationships, some social networkers are reverting back to more traditional ways of interacting. !

Is tradition just a trend or is a vital part of meaningful relationships? !

Instagram InstaMeets Video Chatting

Social Media Interactions with readers and followers

Tinder

THOUGHT STARTER QUESTIONS: What traditions/occasions in your industry have remained constant over the years and what, if any, have recently re-emerged? How is the convergence of tradition and technology impacting your business?

THOUGHT STARTER QUESTIONS: How has your business adapted so that technology and tradition/occasion co-exist? -Do you notice a difference in how traditional occasions are celebrated or recognized online? -What do your customers perceive the role of tech vs. tradition in how they celebrate or mark an occasion and how do they choose when to use one over the other?

TECHNOLOGY DOES THE WORK TREND 3:

Technology has almost always helped make life easier. But now it’s not just helping us with out day-to-day tasks, it’s actually doing them for us. From constant monitoring and tracking of the body to cars that drive themselves, new apps and devices are helping consumers get done (and know) more while doing less or no work for it. !

How can brands use technology to reduce shopper pain points? And what will we do now with all of our free time?!

Fitbit Intel’s Smart Onesie

Google Nest Siri

Self-driving Cars FridgePal

THOUGHT STARTER QUESTIONS: Is technology (online, apps, etc.) providing your customers a different experience that reduces pain points and drives engagement and conversion? If not, how/where could technology encourage customers to engage and think about your brand differently? -Think along the path to purchase. At what point are customers seeking out other brands or solutions?

THOUGHT STARTER QUESTIONS: Think about different customer segments. Are some customers more open to a tech assisted experience? How can we reach them? Think about the end user. Can technology provide added value to drive engagement and seed future purchases among this group?

PICTURES ARE WORTH MORE THAN WORDS

TREND 4:

Our communication has become more visual than ever before, especially online. Whereas text used to be the dominant form of communication on social media, visually oriented apps and trends are taking center stage. From disappearing pictures to mini-videos to photo-collage posts and cards, consumers are seeking out and appreciating visuals to get the information they need and want quickly and with greater impact.!

How can visuals be used not only to deliver important messages and information to the shopper, but also to engage with them? !

Snapchat, Vine, Instagram, Pinterest

Facebook Newsfeed Lipton Photo Contest

PicStitch TextPride

THOUGHT STARTER QUESTIONS: Are there any areas in your communications with customers where visuals are or may replace text for greater impact and engagement? What results have you seen from your brand efforts to let customers integrate their own photos into brand communications? -What learnings do you have that might improve or expand upon existing efforts?

THOUGHT STARTER QUESTIONS: Have you considered integration with image-heavy social networking sites to encourage both personalization and increase of card usage? -Do you think this will help encourage brand recognition or loyalty across different platforms?