Download - Crocs - Going Global Digitally
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Going DirectGlobally
Jay Custard, Global Online Marketing Director
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Regarding Forward Looking Statements:This presentation may contain forward-looking statements,
estimates or projections that are based on our current
expectations. Any such statements, estimates or projections
are subject to risks and uncertainties that could cause the
actual results and outcomes to vary materially from thesestatements, estimates and projections. These risks and
uncertainties are discussed in our filing with the Securities
and Exchange Commission (SEC) including, without limitation,
the Crocs, Inc. Annual Report on From 10-K for the year ended
December 31, 2009 and subsequent filings with the SEC priorto the date hereof. Crocs, Inc. undertakes no obligation to
update its forward-looking statements upon the receipt of new
information, future events or otherwise.
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History
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The Crocs Story
Started as a "one shoe" company
First meaningful sales in 2002
Public offering February 8, 2006
Quickly established a well-recognized global
brand
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The Crocs Story
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The Crocs Story
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The Crocs Story
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The Crocs Story | What Happened?
A "Perfect Storm" - Crocs experiencing dramatic growthas recession hits
Growth outpaced supporting infrastructure, stressing
service levels
Sudden economic downturn triggers decline in demandand increase in inventories
Downturn in business triggers need for cost andinventory realignment
Increasing number of imitators impacts sales in somemarkets
Brand dismissed by some as a fad
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The Crocs Story | What Happened?
A "Perfect Storm" - Crocs experiencing dramatic growthas recession hits
Growth outpaced supporting infrastructure, stressing
service levels
Sudden economic downturn triggers decline in demandand increase in inventories
Downturn in business triggers need for cost andinventory realignment
Increasing number of imitators impacts sales in somemarkets
Brand dismissed by some as a fad
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The Crocs Story | THE AFTERMATH
Large, loyal and passionate consumer base
Iconic brand status and high brand recognition
Worldwide distribution - 128 countries
Industry leader in injection-molded footwear design andproduction Croslite
Love 'em or hate 'em, they are in the conversation!
Lack of Demand
Lack of access to the consumer through shrinking wholesalebusiness
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The Crocs Story | MAIN CHALLENGES
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The Way Forward
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The Crocs Story | THE WAY FORWARD
Get Access to the Consumer
Display the full breadth and depth of the product
Take it to the World
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Re-enter the Conversation
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Change the conversationMake some Noise
One shoe phenomenon Enduring footwear brand
Reinvigorate core business
Re-introduce innovative view on footwear
Rejuvenate expressive brand personality
Leverage our unique technology story
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Past Advertising Efforts
Heavy on sponsorships
Event focus
Predictable
Indicative of Supply-side mentality
Conversation happened with us on the sidelines looking in
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Video
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Marketing Overview
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Be More Direct
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Why Go Direct?
Control our own destiny
Guaranteed access to the consumer
Display the full range of the product
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Huge opportunity across the globe
Quick to market
Close to the consumer
Endless aisle
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Standardize systems
Ecommerce Platform
Analytics
Reporting
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Standardize Operations and Marketing
Built an internal digital agency
Extremely efficient structure
Regions become sales and marketing hubs
Leverage strategic vendor partnerships
Linkshare
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Our customers dont think of their lives in terms of channels,
neither should we.
Blur the line between online and offlinethe customer doesntcare how you do it, but they expect it.
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Online
RetailWholesale
Traditional Channel Structure
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Online
Retail Wholesale
Go Forward Strategy
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Online
Retail Wholesale
Go Forward
StrategyBattles are wonwhere there are points of
intersection.
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Online
Retail Wholesale
Buy Online,
Pick up in
store
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Online
Retail Wholesale
Buy Online,
Pick up in
store
Drop ship
programs
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Online
Retail Wholesale
Buy Online,
Pick up in
store
Pay on Scan
Sell thru Data
Drop ship
programs
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The New Customer Paradigm
Customers are empowered as never before
They enjoy the lowest switching costs in the history of
commerce
They have more options than ever before
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Switching Gears
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What we learned along the way
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1. Listen to the consumer
Analytics provides:
What
Where
When
How
But what about the Why?
Surveys Testing
Experimentation
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2. Performance Based Marketing
Are you leaving money on the table?
Understand your margins, determine your ROI/CPA and spend
to your target.
Best pay-for-performance online tactics:
PPC
Affiliates Pay-for-performance ad networks
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3. Have a defined role for your website
Is it a flagship store?
Is it a place to locate hard to find colors & sizes?
Is it a discount channel?
Is it MSRP only?
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4. Build a robust customer database, capture at all
touch points
Events
Newsletters Contests
Promotions
Point of Sale
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5. Product is king. Treat your web store like a brick
and mortar.
Buy & forecast sales.
Utilize one of your retail buyers or hire your own.
Determine how you will dispose of excess inventory.
Inventory Turns, Out of Stock metrics.
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6. Find ways to partner with your wholesalers and/or
vendors.
Share sell-through data
Analytical data by geography, etc.
Email templates/graphics/product imagery
Drop ship program
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7. Consider outsourcing aspects of your ecommerce
business.
Fulfillment
Customer Service
Returns
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8. Establish a pricing and promotions committee.
Representatives from all channels.
Clear/defined process & escalation paths.
Rules of engagement.
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9. Social Media isnt a place for corporate PR.
Be an active part of the conversation
Dont act like a corporationbe authentic to the tool
Social is messy, and people are okay with it.
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10. Mobile is the next great opportunitythat no one
has figured out.
Dont wait on the sidelines
Look for opportunities now and test, test, test
Start small with a simple SMS program to understand your
market
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CHANNEL2010Use it!
[email protected]@jay_custard