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Deborah Weinswig Chief Customer Officer
Anne Marie Stephen Vice President Retail Sales and Customer Development
Follow the passion Life gives others lemons, entrepreneurs make, market and sell lemonade
Profitect The Profitect software solution uses pattern analytics to identify revenue reducing activities, and integrated task management provides timely, detailed, and guided actions to resolve the issue. Improvements to the top and bottom line are continuously measured, ensuring sustainability across the business.
iInside We help our client measure, engage and optimize offline locations with actionable performance location analytics derived from in store shopper behavior measurement and shopper engagement.
HOW WE GOT HERE The Journey
DEBORAH
● 1997-1999 - Strategist - Morgan Stanley ● 1999-2002 - Managing Director - Bear Stearns ● 2002-2013 - Managing Director - Citi Group
○ Top II Broadlines analyst from 2003-2013 ○ Top II Food and Drug analyst from 2005-2013
● 2013-Present - Profitect
Intro to Tech Sector ● Scott Friend ● Guy Yehiav ● Oracle Retail Strategy Council ● Annual report ranking who was best and who was worst
from a tech perspective ● Conference with Bain Retail VC Practice
Wall Street to Silicon Valley ● October 14, 2013 ● 3 Companies asked me to be on their Board of Advisors
○ Profitect ○ Tradestone ○ Rubin Singer
● Profitect was looking for a Chief Customer Officer ● Left Citi on October 28, 2013 ● Started with Profitect on October 29, 2013
Why I Chose Profitect ● Focused on brick and mortar retailers, in addition to
other retail channels ○ Ensure success ○ Survival of traditional retail channel
● Work with developers/REITs and help REITS and retailers
Big vs. Small ● Moving from a company of 250,000 to a company of ~50 ● A single administrative assist ● Cost conscious ● Many remote employees ● Learning new technology
○ Google Hangout
ANNE MARIE
Early Career • In-Store Boots on Ground Retail • Sales and Management in Luxury and Department Stores • Wholesale Side SHIFT to Retail Technology nearly 10 years ago • Video Technology and Analytics – Not so fancy name then • Predictive Analytics • Then came MOBILE
Why Mobile and Location Analytics
• Clients got smarter o Once clients mastered initial data and driving results questions became
more detailed – what was happening inside the store • Hints that Mobile was growing
o With the predictive analytics the company was adopting a cross channel strategy – saw mobile growing
• Risk and Possibility o Took the opportunity join a mobile company, took the risk and knew that
it was the right time and right place
Mobile • Dynamic platform • Fluid - moves with customers • Mobile adoption rapid pace • Connect with the consumer • Generate lots of data
And I love data…
LEAD THE HORSE Be the Expert
Evangelist • They don’t know what they don’t know • Not techies • Definitely not data scientists How to sell the value? • You have to create the value
• Understand their business, speak to their key issues, not all issues • Business challenge you are solving • Jason Fried- 37 Signals/Basecamp – Job you are hired to do
1. Who you are 2. What you do 3. Why you do it 4. Why Should They Care
• Clear message to the market of who you are
• Point of view
• Business challenge or new opportunity you are evangelizing
• How does this help them improve
or optimize
Always keep in mind
They do not know what they do not know (even if they tell you they do)
• Tendency to talk tech
o Need to speak plainly
• Cool stuff it does o Features are good but
Value is where it’s at
• Clients believe they know your tech o Make sure to clean up
gray areas
• New technologies
• Control your message
• Control the scope
• Start with the easy stuff, show improvement, then move to next
Collect Data Bring together data to create a profit hub at a frac5on of
the 5me
Get the story Pa8ern logic automa5cally iden5fies the “story” from
your data
Take Ac2on Automated opportunity delivery with associated best prac5ces and tasks
ensure consistent execu5on
• Measure the current status • Apply your solution • Identify the opportunity • Take Action • Measure Results
CHALLENGES WHAT YOU MAY BE FACING IN THE REAL WORLD
Make it Proactive Relationship … Retailers move at a snails pace
• Increased data and capabilities • Increased stakeholders • Increased number decision makers • Increases sales cycle • Slows down the Revenue Generation
Challenge: Speed up the process 9-12 month sales cycle
WHAT WORKS What should it look like
Organizational Clarity
Scalability Transparency Collaborative
Communication
PASSION and DESIRE to Go FAST
Deborah Weinswig Chief Customer Officer
Anne Marie Stephen Vice President Retail Sales and Customer Development
M: 312.613.4434 O: 714.685.9776 x2006 E: [email protected] @IndoorAnalytics @AnneMarie_ams
Q & A