retail – finding the right kind of new - tug life 2015 - oisin lunny - openmarket
TRANSCRIPT
Oisin Lunny, OpenMarketJune 17, 2015
RETAIL – FINDING THE RIGHT KIND OF NEW
Technology trends
Technology trends
Technology trends
Technology trends
Technology trends
Technology trends
Technology trends
Technology trends
Technology trends
7,527,980,005mobile connections
7,322,186,465current world population
Technology trends
Technology trends
Your customers are changing
MILLENIALS now outnumber BABYBOOMERS
Young,'Educated,'Social'&'Mobile'
Your customers are changing
MILLENIALS own more
THAN
Your customers are changing
Customer support
Purchasing
Security !Appointment Reminders
Online banking
Satisfaction survey
of text messages read within
the first
98%
10 minutes
Service alerts
Technology trends
B. Bonin Bough (@boughb)
“Mobile(devices(are(as(addic/ve(as(
cocaine.”
Technology trends
A Planet Of The Smartphones …populated by ….phono-sapiens.
Technology trends
The phono-sapien in numbers: • The average American is on their smartphone
for over two hours every day. • Asked which media they would miss most,
British teenagers pick mobile devices over TV sets, PCs and games consoles.
• Nearly 80% of smartphone-owners check messages, news or other services within 15 minutes of getting up.
• About 10% admit to having used the gadget during sex.
So, basically…
Retail
IMRG’s eRetail Index guide (UK): 45% YoY growth in the use of mobile devices for retail 1 in 4 of UK mobile commerce sales from smartphones 21% YoY growth for tablets
Predicted that 1/3 of all online sales in the UK will take place via smartphones and tablets UK retail mCommerce sales predicted to reach £19.9bn in 2015
Apple Pay, Apple Watch, iBeacon, NFC Closed ecosystem with fingerprint ID for payments
Marketing Data Driven, Mass Personalisation, Contextual Commerce
Retail - iBeacon example
Retail - Apple Pay (NFC) example
Retail
Customer Service
Zero tolerance 86% of customers quit doing business with a company because of a bad CX, up from 59% four years ago 1% drop in service = 15% drop in customer satisfaction
Make it mobile 64% of consumers prefer to use texting over voice as a customer service channel 44% of consumers prefer to send a text, rather than waiting on hold to speak with an agent 81% of consumers are frustrated being tied to a phone or computer to wait for customer service help 77% of consumers aged 18-34 are likely to have a positive perception of a company that offers texting
Media
The mobile effect
Good for business “every ten extra mobile phones per 100 people increases the rate of growth of GDP-per-person by more than one percentage point”
Exponential growth built in: The industry is constantly growing (because the mobile industry is highly scalable) Traditional (data) infrastructure is prohibitively expensive
Opportunities for rapid transformation: Taxis -> Uber (2009) Hotels -> AirBnB (2008) Kodak -> Instagram (2010)
The mobile effect
Silo smashing
Use mobile as the glue…
Embrace mobile “Operationalise mobile, don’t treat is as a project. Its an enabling technology that will transform your business.” Julie Ask, Forrester
Expect the unexpected Nimble start ups are disrupting massive global businesses. Adapt, and adopt, new technology.
Buy anything: local / anywhere
Joining the physical and digital
Joining the physical and digital
Average annual value of each an SMS subscriber: • Pete’s Ace Hardware in Castro Valley,
California – $401 • Brentwood Ace Hardware in Brentwood,
California – $529 • Dale Hardware in Fremont, California – $267
“Pete’s Ace Hardware now knows that each new SMS subscriber will generate $401 in new annual retail sales.”
• About the same amount to people use their smartphones for calls, apps and SMS
• SMS is the most frequently used, calls least used
• Just over half use smartphone for email • Over half of people prefer to use text
messages on the go & millennials prefer SMS • 43% are happy to give out numbers • Email is the most popular channel for
promotional offers, SMS for time limited offers
Research
• SMS has a higher open rate than emails, double that push notifications
• Emails good for promotions & purchase info • 16% of people never read messages sent by
push • SMS best for click and collect & order alerts • 50% of people want “on the day” delivery
messages by SMS • People prefer feedback surveys by email • 60% of people would prefer to use text over
IVR for customer support
Research
OpenMarket examples
•Account'Recovery'•Enable(phone(number(as(a(password(recovery(feature((
•Authenticate(the(user(with(security(code(by(SMS(
•User(re?enters(code(to(verify(&(change(password(
•The(whole(process(takes(30(seconds(or(less
OpenMarket examples
•Support'Tickets'•User(texts(in(a(support(keyword(to(your(short(code((
•CRM(system(creates(support(ticket(&(routes(to(your(CSR(
•2?way(SMS(can(retrieve(additional(details
Even'though'the'customer'initiates'the'process,'they'never'have'to'navigate'an'IVR'system'or'wait'on'hold
OpenMarket examples
• Fortune'100'retailer'• Improved(its(fulfilment(experience(•Customers(receive(three(SMS(notifications(during(the(shipping(process:(•when(the(order(leaves(the(warehouse(•when(it’s(handed(over(to(a(local(courier(• finally(when(it’s(delivered(
•The(SMS(notifications(not(only(give(customers(real?time(updates,(they(can(also(enable(them(to(request(a(change(to(the(delivery(date(or(destination
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THANK*YOU
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