watchfinder presentation from bdmf 2013
TRANSCRIPT
brighton digital festival 2013
lloyd amsdonbrand director & co-founder
introductionwf&co.’s digital marketing
• the company, the brand, the customer• a typical marketing month• the impact of going offline• creating success in the watch world• the future
about usestablished in 2002
£92mvalue of watches
sold to date
12,000number ofdaily visits
£3200average customer
spend
35kmonthly
marketing budget
51membersof staff
50,000digital magazine
readership
.co.uk time services royal exchange customer eventsthe watch magazine
e-commerce watch servicing retail publishing services & events
international
the brandrepositioning watchfinder
• brand positioning• brand personality• key messages• communication
statements• tone of voice
key messages
serviceknowledgeindependence& choice
engagingrespectfulknowledgeableinclusive &positive
trustexpertise &innovationbrand personality
tone of voice
brand equityagainst other retailers both pure play and high street
watchfinder watches ofswitzerland
mappin and webb watches.co.uk jura watches
brand equityagainst watch brands
bremontraymond weilpaneraipatek philippewatchfinder
Aalpha territory
bprofessional
rewards gcareer & kids
oliberal opinions
mosiac profileswho are our customers
our customers
customerlifestyle
successful, substantial wealth & influentialexecutives, significant equity & comfortablechildren, good incomes& comfortable homesyoung singles, degree level educations & creative jobs
A b
g oA
b
g
o
where ourcustomers livebond street vs the city
visits 251,996london 86,469 manchester 5,348birmingham 5,290liverpool 4,872leeds 4,762edinburgh 3,642 sheffield 3,622glasgow 3,532newcastle upon tyne 3,319norwich 3,269
the luxury watch buyerthe behaviour of our customers
• r.o.p.o• traditional and online media• early adopter• choice, convenience and knowledge• loyal and exacting• warranty, buy-back and part exchange• new luxury experience
94%trust pilot score
35%repeat business
marketing monthwhat happens in a typical month
emailthree sends a week
• special offers• new arrivals• news & reviews• 190,000 recipients• 11% opens• 2.75% clicks
tuesday friday sunday
eventssix events every month
• masterclasses• pop-ups• friday club• corporate days
social mediatwo instances every day
• twitter• facebook• instagram• pinterest• linked-in• google +• partnerships
videoenriching content
• website• you tube• 1000 views a week• partnerships
passionate about watches
print edition
wf&Co. issue one
watChfinder&Co.
time is running out for the traditional watchmaker. can wf&co.’s tony williams step in?
page 4
t he biscuit tin ideal of a white-haired watchmaker, bent double at his bench as he labours over a movement from the first screw-turn to the last, is a scene not long for this modern world. The traditional, timeworn artisan is being rapidly eclipsed by someone cheaper, easier to train
and ultimately less traditional - the sequential worker. Think of sequential watchmaking as you would a car assembly line: each worker along a chain has a specific duty, adding a screw, tightening a bolt, gradually piecing together the final product. Not a particularly romantic scene, granted, but it gets the job done, and each worker requires only minimal training. But what of the traditional watchmaker? And those who want to follow in his footsteps? It seems their future is bleak - but then again, perhaps not...
continued on page 6
Investing in watches has proven lucrative overthe years - is it still worth investigating?
The Watch Magazine reviews a selectionof the latest watches to hit the market
Explore The Royal Exchange and the City of London when you visit the WF&Co. boutique
marketwatch inreviewwithtwm out&about12 14 16
theinsideman
a placein the city
NewspaperFinalAM.indd 1 12/09/2013 09:16
printengaging through direct mail
• re-engagement• in-store• new orders• unique offer
WatchfinderInvicta House, Pudding LaneMaidstone, Kent, ME14 1NX
the Wf&co. BoutiqueThe Royal Exchange, BankCity of London, EC3V 3LQ
Tel. +44 (0) 844 247 8884www.watchfinder.co.uk
Watchfinder.co.uk Ltd, Registered in England 04524723 at 37 St Margarets Street, Canterbury, Kent, CT1 2TU
Special OfferDear Mr Smith
Ut id expla doluptatum volorrum il estior aligenis que qui audi nonem vercimus invel ipsae consequia sum res eos doloratqui odit, odio eos am hitior sinvele cesequam que et exerferupta consequo tenda nonem que num quam, acest, ipsam, venisit, nulparum quaturit quametur recat repre venditiur ad utem cus as dit fugiam qui volorro blanis coreperero qui cum ipsam ditatur?Umqui quatiam doluptatet endisti sciatur, sequi aut quo odi rem laut labo. Soluptae evelest, solendemqui volut ipsum fugiandis et ullab ipisqui as sitiorror aut et rae dem velendist quia nis volo officia quat eosame comnis doluptatur?Ceped que omnis ut eri illuptat evendandunt ra alignam nam id et quibus ipsamet pro estem dolupta mendiaeces quam re nossinciet que dit lit excearc hilloritam qui cus molecti adi derepel iquam, que nobitas res num aut opta nulles is ad eatur, opta con nonsequid quia volo blabo. Ut re labore rem in nimusdae serit plam, omnitib erianto occaess inveliquo offictus sitas vollit dus ni ipid evelibus exped ullenimet ulparcid unt.Cestrum et eos andandigenis demporeium qui volupta quidel illatet rem ullut harum et quiassi
Yours Sincerely
Lloyd Amsdon
Lloyd Amsdon
the watchmagazinequarterly digital publication
• 90,000 app. downloads• >50,000 readers per issue
app. 70% browser 30%
• >10 mins average dwell time
press releasesengaging the press
• lifestyle• business• industry
events videohttp://www.youtube.com/watch?v=gq7ermke8kc
the wf&co. boutiquefive weeks to take our proposition offline
store impactbuilding trust in the brand
• re-positioning• trade profile• partnerships• destination• confidence and conversion
400
350
300
250
200
150
100
50
0
450
500
550
600
650
Units
Months
700
Nov ‘12Oct ‘12 Dec ‘12 Jan ‘13 Feb ‘13 Mar ‘13 Apr ‘13 May ‘13 June ‘13 July ‘13 Aug ‘13
store impacthow offline has aided online
online sales store sales
store marketingsupporting the store
• email by location• ppc by location• newspaper drops• direct mail• television
£240,000
creating successin the watch business
the productliving up to your promise
• quality• choice• knowledge• the service centre
DIR
EC
TOR
SM
AN
AG
ER
SST
AFF
EX
TER
NA
L A
GE
NC
IES/
CO
NSU
LTA
NTS
SERVICING
DATA
DISPATCH
H.R.
SALES(ONLINE) SALES & PURCHASING (RETAIL)
CUSTOMERSERVICES
PURCHASING& COMMISSION ACCOUNTS MARKETINGI.T. LEGAL
ADMIN (SERVICING)CHERYL C.LAURA H.
MANAGING DIR.STUART H.
OPERATIONS DIR.STUART H.
SERVICING DIR.MATT B.
BOARD OFDIRECTORS
SHAREHOLDERS
CFOJOHN H.
SALES MANAGERALEX S.
RETAIL MANAGERSIMON M.
HUMAN RESOURCES& DISPATCH MNG.
JADE C.
TECHNICAL DIR.TONY W.
OPERATIONS MNG.SEAN D.
DATASIMON F.
PURCHASING MNG.JON B.
LEGALAMY C.
BRAND DIRECTORLLOYD A.
CREATIVE DIRECTORDAN B.
SENIOR DEVELOPERSTEVE L.
IT DIRECTORJON G.
FRONT ENDSEAN J.
PUBLIC RELATIONSFIELD
COMMUNICATIONS
PAYROLLREEDS
ONLINE MARKETINGPERISCOPIX
MAGAZINE (BUILD)APTUS
MAGAZINE (DESIGN)TALL TREE
WATCHMAKERTREVOR P.
DESIGNMANÉ B.
ACCOUNTS AST.BEVERLEY A.
HAYLEY S.
PURCHASINGSAM B.
COMMISSIONJENIFFER F.
DEP. RETAIL MNG.MICHAEL H.
SENIOR SALESMARTIN A.
RETAIL PURCHASINGOLIVER W.
DISP. (SERVICING)EMILY B.
DISP. (ONLINE)TBC
DISP. (RETAIL)NEHA M.
TRN. WATCHMAKERSARAH JANE S.
QUALITY CONTROLTHOMAS M.
AST. SALES MNG.TOM HOLLAND
CUSTOMER SERVICENATALIE P.
SALESKIERAN N.TERRY R.
SALES (FRANCE)CHARLOTTE V
WATCHMAKERSPHIL C.
PETER A.
CLEANINGTECHNICIAN
WILL C.
POLISHINGROBERT P.DAVE W.SCOTT R.LYDIA V.
JASON R.BEN W.
CONTENTANDREW M.
PHOTOGRAPHYJACK S.TOM P.
DATA AST.ZOE J.
MARKETING(OFFLINE)
ROB B.MARKETING
(ONLINE)GARY R.
INVICTA HOUSE
LOCATION POSITION
ASCOT HOUSE
ROYAL EXCHANGE
DIRECTOR (4) SHARED RESPONSIBILITY
MANAGER (8)
STAFF (39)
COMPANY STRUCTURE JULY 2013investing in staff creating the perfect team
staff experiencefrom the old to the new
tony williamsservicing director
simon moodystore manager
andrew morganeditor
the watch magazine Summer 2013
feature | market watch
ma
rket
wa
tch rolex submariner 16610market Watch is a new section
that aims to put you in the know when it comes to buying watches with a view to evaluating future worth. Buying a watch can be much more than simply acquiring a depreciating asset - in fact careful buying can often net modest growth, sometimes even substantial growth. In this issue we’re putting the Rolex Submariner 16610 in the hot seat.
Ok, so it’s no big news that the Submariner 16610 is a sensible purchase decision, but its steady growth and popularity make it the ideal control for future editions of Market watch. Released in 1988 and replacing the short-lived 168000, the 16610 was current for twenty-two years until the 116610 took the baton. this period saw extensive price revisions from Rolex, making it a formidable investment (see graph).
with an opening RRP of around £1,200, which closed at £4,120 in early 2011, the 16610 has risen steadily in price
currently look to pay (£)
at auction (£)
age of Watch (yeaRS)
n/a
4450
+
4400
+
4300
+
4200
+
4100
+
4000
+
3900
+
3850
+
3800
+
1 2 3 4 5 6 7 8 9 10
rrp 1988 (£)1200
inflation (£)1500 (3.3% Pa)
appreciation by 2013 (£)
1400
= 4100
final rrp 2011 (£)4120
Watches solD at WatchfinDer in 2012
rolex rrpaverage pre-oWneD sales price
5000
4000
3000
2000
10002003 2004 2005 2006 2007
yeaR
value (£)
2008 2009 2010 2011 2012 2013
7%look to pay a premium
of arounD 7% for a 16610 lv (green bezel)
1.5%16610
submariners
5.8%non-16610
submariners
SuBMaRIneR 5517 SuBMaRIneR 5514
SuBMaRIneR 6538
dIScOntInued; PRe-Owned valueS cOntInue tO RISe
laRge RRP RISe;PRe-Owned valueS fOllOw afteR 1 yeaR
50th annIveRSaRy;PRe-Owned valueS acceleRate uPwaRdS
Watch spec
the futurewhat’s next for wf&co.?
• even more choice• additional stores• a watchmaking academy• complimentary new watches• additional products• event sponsorship• ambassador model• the brand journey