my backstory€¦ · search and buy online search and buy in-store search online, buy in-store...

My Backstory...

Copyright 2017 ChannelAdvisor | Confidential 22Copyright 2018 ChannelAdvisor | Confidential

Dedicated to Cultivating Loyal Customers

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The Dynamic Between Modern Sellersand Consumers is Evolving

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Consumers are in Control

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And their expectations are

being driven by the “Amazon Effect.”

5 BILLIONSHIPPED TO PRIME

201745%

PRIME SHOPPERSBUY EVERY WEEK

#18GLOBAL

REPUTATION

However, rising consumer expectations

are hardly relegated to Amazon.

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Consumers on every channel expect and demand a great customer experience

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90%FREE SHIPPING IS

#1 REASON TO SHOPONLINE MORE OFTEN 85%

HUMANLESS ONLINE INTERACTIONS WITH ENTERPRISES BY 2020

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If consumers don’t get the experiencethey want, they stop being customers.

Worse yet, they have the power to influence other buyers through:

Reviews Social Posts Complaints

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What does this mean?

25x

New customers cost up to

more than retaining existing

25-95%

Just 5% Retention

Increase in Profits

31%

Existing Customers Spend

More than new customers

Where are Modern Sellers Going?

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Modern brands and retailershave to focus on customer experience.

● Invest in post-purchase fulfillment (“last mile” shipping)

● Monitor and solicit ratings and reviews

● Remarket to customers through email, social and loyalty

programs

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Modern sellers must work to betterinfluence the buyer’s journey.

Smarter Marketing Frictionless Selling Seamless Fulfilling

What is Success?

Successful consumerexperiences

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=Stronger brand equity& more lifetime/repeatcustomers

67%Repeat customers spend

more than new customers

40%of online shopping revenue

comes from repeat customerswho are only 8% of traffic

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Where Do I Start?

1. Customer Experience

2. Data, Data, Data

3. Freshness Counts

4. What’s Your Model?

Copyright 2018 ChannelAdvisor | Confidential

Copyright 2018 ChannelAdvisor | Confidential

Jessica Lesesky• VP, Online Channels,

Charles & Colvard

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Copyright 2018 ChannelAdvisor | Confidential

Jeff Cayley• CEO

Worldwide Cyclery

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Copyright 2018 ChannelAdvisor | Confidential

Bill Baiden• President & Founder,

Shop Eddies

• Vice President, S&B Keswick Motors Ltd.

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Copyright 2018 ChannelAdvisor | Confidential 2020

Jessica Lesesky Jeff Caley Bill Baiden

Panel Discussion

Copyright 2018 ChannelAdvisor | Confidential

A Story about a Brand, the Reinvention and

Creating Customer Evangelists

Jessica Lesesky, VP, Online Channels & International

Charles & Colvard

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“We knew the ring we chosewould tell people a lot about us, so we made sure we liked what it had to say.”

“I love my ring because I can feel confident about my choice, both ethically and financially.”

“I love my moissanite ring— for the injustice it stands against in the world and the stunning promise of forever it stands for in my life!”

Direct to Consumer Was Not Always a Core Strategy

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But Critical for Us to Take Control of Our Destiny

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42%

20%

14%

8%

8%

8%

Search and buy online

Search and buy in-store

Search online, buy in-store

Research online and in-store, buy in-store

Research online and in-store, buy online

Search in-store, buy online

38%MULTI-CHANNEL

62%SINGLE-CHANNEL

And Truly Understand Our Audience

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31%

18%16%

12%

24 27 30 33 36 39< 18 21 51 54 57 60 63 >42 45 48

MILLENNIALS GEN X BOOMERSGEN Z

AVERAGE AGE OF

ENGAGEMENTS IN U.S.

15%

8%

Primary Motivators:

Beauty Value Social Responsibility

Looking for big, bold, bling.Value is a primary driver. brand affinity, but not much.

Looking for an expression of self that balances value with luxury. That allows them to present a luxurious style every day without breaking banks or beliefs.

Looking for an expression of romantic love and appreciation of someone else.

More often than not, shares the same beliefs as the person they are buying for.

Looking to balance purchasing decisions with bigger picture of lifestyle.

Values experiences more than objects; purchasing decisions are driven by this perspective.

Looking for an expression of familial love and appreciation of someone else. More often than not, does not share the same beliefs as the person they are buying for.

Diamond Cheater New Priorities

The Second Phase – Find our Brand Fans

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#girlboss Partner Parent/Child

Meet Our Fans

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This sisterhood holds more power in its

pinky finger than the rulers of the world.

Tonight, I joined the tribe of extraordinary

women from all over the world, who made a

PINKY PROMISE to practice self love and care

on a daily basis.

Thank you to my Fiancé, for empowering my

journey and encouraging me to be the badass,

fearless female I am today

💍🔻#bossbabe

#girlboss

Looking for an expression of self that balances value with luxury. That allows them to present a luxurious style every day without breaking banks or beliefs.

Purchases are informed by beliefs (environment, economic or social), but may not be as the leading driver of their purchase; they covertly express those beliefs.

Brand affinity is driven by how well the brand equates to their personal style expression.

Meet Our Fans

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I've always felt that an engagement ring

should reflect the woman and who she is,

what she's like.

I am over the moon about my ring and

really believe in the alternative Charles &

Colvard offers to diamonds. Wearing it

will not only tell our story but also be a

tool to advocate for moissanite. It warms

my heart every time I look at it.

PartnerLooking for an expression of romantic love and appreciation of someone else.

More often than not, shares the same beliefs as the person they are buying for.

Looking to buy to the satisfaction of the receiver – but with a connection to shared experience with the giver.

Brand affinity is a combination of what brand the buyer trusts, and what brands the partner openly expresses interest in.

Meet Our Fans

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I actually convinced my now

husband I didn’t want a diamond.

I love diamonds, don’t get me wrong.

I just thought it was silly to spend so

much money on something when we

are just starting our lives together

and we have so many expenses in our

future: home, kids, cars…

New Priorities

Looking to balance purchasing decisions with bigger picture of lifestyle.

Wants what they want, but swayed by other goals, needs and desires. And willing to find unique solutions to balance life goals and desires.

Values experiences more than objects; purchasing decisions are driven by this perspective.

Brand affinity is driven by how well a brand fits the “experience driven” mold.

We Own the Narrative Across the Places Where Our Customers Shop

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Leverage Marketplaces to Find New Fans

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Gain Additional Insights on Products

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And Expand our Reach

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The Next Phase of Our Journey

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Laser-focus on Executing on our Mission

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At Charles & Colvard, we believe luxury can be

both beautiful and conscientious.

With innovative technology and sustainable practices,

we’re leading a revolution in the jewelry industry –

delivering a brilliant product at extraordinary value

balanced with environmental and social responsibility.

Customer Loyalty In A

World Of OptionsBy: Jeff Cayley - Founder / CEO - Worldwide Cyclery

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About Worldwide Cyclery...

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Section Title Goes Here

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Our Holistic Approach To

Customer Experience...

We Create Valuable Content...

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We Do Our Best At What Matter Most

- Speed of delivery.- Customer support.

- Selling in all the relevant channels.- Making friends with our customers.

- Being vastly different than any of our competitors wherever we can.

All that together makes us memorable, talked about and recommended like crazy.

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Does all of that drive

repeat business and

customer loyalty?

It Works For Us...

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Last 90 days | Year-Over-Year

Problems & Solutions We Found...

Managing multi-channel complexity.

Slow shipping

Not enough web traffic

Scaling sustainably, people, HR, systems/processes

Channeladivsor & ShipStation

East Coast store / distribution center

Create amazing content

Don’t know… Do you?

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Bill Baiden, President/Founder, ShopEddies.com

History – Who Am I?

• 30+ Years Of Retail Sales Experience

• ASE Master Mechanic

• First Online Sale In 2001

• President / Founder, ShopEddies.com (Automotive Online Retail)

• Vice President, S&B Keswick Motors Ltd. (Chrysler, Dodge, Jeep, Ram, Fiat)

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History – Who Am I?

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History – What Is Shop Eddies?

• 100% Online Retailer

• 4500 Brands

• 800,000 Unique SKUs

• Auto Commerce Award 2016

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History – What Is Shop Eddies?

• Brand Management, Marketing, IT & Customer Service Teams

• Over 50 Shipping & Return Locations

• Top Rated Marketplace Seller

• Your One-Stop Shop For All Things Automotive, Powersports and

Recreational

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Challenges

& Forward

Thinking

Challenges & Forward Thinking

• Is It Just A Race To The Bottom?

• Whose Customer Is It?

• A Big Change To The Traditional Business Model

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Challenges & Forward Thinking

• MAP (Minimum Advertised Pricing) / DNSL

*https://www.digitalcommerce360.com/2017/11/10/amazon-discounts-marketplace-sellers-products

• Not All Eggs In One Basket

• Co-op Rewards Program

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Thank You!

“WE STRIVE TO KEEP YOU SMILING”!

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Optimizing The Customer Journey: Tips from E-Commerce Experts

Bill BaidenPresident & Founder,

Shop Eddies

Beth SegoviaVice President, Services,

ChannelAdvisor

Jessica LesseskyVP, Online Channels,

Charles & Colvard

Jeff CayleyCEO,

Worldwide Cyclery

Thank You