Unmasking the consumer - Payrange · UNMASKING THE CONSUMER Shifting the focus of your vending...
Transcript of Unmasking the consumer - Payrange · UNMASKING THE CONSUMER Shifting the focus of your vending...
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UNMASKINGTHE CONSUMERShifting the focus of your vending business from machines to consumers to gain competitive advantage and boost revenue.
Presented by:
Paresh Patel, PhD, MBA
PayRange Inc., Founder and CEOMarch 21, 2018
NAMA OneShow
© 2018 Paresh Patel@DrPareshPatel
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Fill
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WHO IS THE CUSTOMER?
Route schedules
Service calls
Sales per machine
• CLEAN
• FILLED
• WORKING
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Consumer
expectations
continue to
increase
FastConvenience Friction-freeSatisfaction
EXPECTATIONS
Experience
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HOW THEIR EXPECTATIONS CHANGED
RELEVANCE
BENEFIT
PERSONAL
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BROKEN VENDING EXPERIENCE
Not stocked right
Not able to make payment
Poor product / service quality
Out of order
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WHY DO PEOPLE KEEP BUYING?
ACCEPT RISK
NEED / DEMAND
BETTER THAN THE
ALTERNATIVE
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OPPORTUNITY
COMPETITION
GROWTH
LOYALTY
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LEVERS
SATISFACTION RETURN AGAIN
VALUE BUY MORE
RIGHT PRODUCT FREQUENCY
ENJOY EXPERIENCE SHARE
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CONSUMER MARKETING
DATA COLLECTION SEGMENTATION TARGETINGCOMMUNICATION
CHANNEL
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TOOL TO UNMASK CONSUMER
Offers
Data Collection
Patterns
Messaging
1:1 Relationship
Mobile = Consumer
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Mobile Marketing
Acquire Users
Build Loyalty
Grow Usage
TOOL TO REACH CONSUMER
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GROUP 1Buys once a week
Offer “buy one get 25 cents
off second item” promotion.
Send a special “thank you”
note with a 50 cent
discount for their loyalty.
Offer a discount for a pastry.
Campaigns
MARKETING TO LIFT SALES
GROUP 2Top 10% user at
location
GROUP 3Purchases during
lunch only
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Campaigns
FIVE STEPS TO BOOST REVENUE
SHIFTorganizational
mindset
IMPLEMENTscalable method
to collect
insights on
consumer
purchases
ANALYZEthe data and
segment
consumers
RUNmarketing
programs
MONITOR,tweak, and
repeat
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@[email protected]© 2018 Paresh Patel