My Backstory€¦ · Search and buy online Search and buy in-store Search online, buy in-store...
Transcript of 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
Copyright 2017 ChannelAdvisor | Confidential 33Copyright 2018 ChannelAdvisor | Confidential
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
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Jessica Lesesky• VP, Online Channels,
Charles & Colvard
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Jeff Cayley• CEO
Worldwide Cyclery
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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