harnessing the power of advocates: the secret to online retail

45
HARNESSING THE POWER OF ADVOCATES

Upload: needle

Post on 20-Aug-2015

1.735 views

Category:

Retail


1 download

TRANSCRIPT

Page 1: Harnessing the Power of Advocates: The Secret to Online Retail

HARNESSING THE POWER OF

ADVOCATES

Page 2: Harnessing the Power of Advocates: The Secret to Online Retail

People  want  to  buy  things  

Page 3: Harnessing the Power of Advocates: The Secret to Online Retail

To  send  a  gi4  

Page 4: Harnessing the Power of Advocates: The Secret to Online Retail

To  make  a  home        send  a  gi4  

Page 5: Harnessing the Power of Advocates: The Secret to Online Retail

To  clothe  their  kids      make  a  home      send  a  gi4  

Page 6: Harnessing the Power of Advocates: The Secret to Online Retail

To  be  entertained        

   clothe  their  kids      make a home      solve  a  problem  

Page 7: Harnessing the Power of Advocates: The Secret to Online Retail

But  some)mes  they  need  someone  to  help  them  make  the  right  decision  

Page 8: Harnessing the Power of Advocates: The Secret to Online Retail

Who  do  they  go  to  for  help?  

Page 9: Harnessing the Power of Advocates: The Secret to Online Retail

69%  of  shopper  turn  to  friends  and  family  for  product  advice  

Page 10: Harnessing the Power of Advocates: The Secret to Online Retail

That  leaves  31%  for  Retail  

Page 11: Harnessing the Power of Advocates: The Secret to Online Retail

 

Yet,  only  32%  of  shoppers  trust  online  messages  from  retailers  

 

Page 12: Harnessing the Power of Advocates: The Secret to Online Retail

That’s a big TRUST PROBLEM

Page 13: Harnessing the Power of Advocates: The Secret to Online Retail
Page 14: Harnessing the Power of Advocates: The Secret to Online Retail

ad·∙vo·∙cate  (n.  ad-­‐vuh-­‐kit)  –  a  person  who  speaks  or  writes  in  support  or  defense  of  a  person,  cause,  etc.  

Page 15: Harnessing the Power of Advocates: The Secret to Online Retail

Advocates  are  great  because  

   They’re  knowledgeable  and      passionate  about  your  brand  

     They’re  mo)vated  by        wan)ng  to  help  people  

       They’re  more  trustworthy  

 

Page 16: Harnessing the Power of Advocates: The Secret to Online Retail

Advocates  give  shoppers  a  confidence  in  purchasing  that  no  marke)ng  campaign  can.  

Page 17: Harnessing the Power of Advocates: The Secret to Online Retail

In  fact,  advocates  can  be  up  to  3x  more    effec)ve  than  non-­‐advocates  in

persuading  others  to purchase   recommended  brands.  

Page 18: Harnessing the Power of Advocates: The Secret to Online Retail
Page 19: Harnessing the Power of Advocates: The Secret to Online Retail

Now  that  you  know  how  great  advocates  are    

how  do  you  find  them?  

Page 20: Harnessing the Power of Advocates: The Secret to Online Retail

First,  ask  yourself  what  your  program  goals  are.    

Conversions    

Customer  loyalty?    

Brand  engagement?    

Page 21: Harnessing the Power of Advocates: The Secret to Online Retail

Ask  who  your  shoppers  are.  

Page 22: Harnessing the Power of Advocates: The Secret to Online Retail

Where  are  they  coming  from?  

Page 23: Harnessing the Power of Advocates: The Secret to Online Retail

What  are  they  looking  for?  

Page 24: Harnessing the Power of Advocates: The Secret to Online Retail

Where  do  they  get  stuck?  

Page 25: Harnessing the Power of Advocates: The Secret to Online Retail

Why  do  they  leave?  

Page 26: Harnessing the Power of Advocates: The Secret to Online Retail

Focus  on  the  shoppers  who  will  buy  if  they  get  the  help  they  need.  

Page 27: Harnessing the Power of Advocates: The Secret to Online Retail

With  these  program  drivers  in  mind,  You’re  Ready  to  target  the  types  of  advocates  that  will  work  best  for  you…  

Page 28: Harnessing the Power of Advocates: The Secret to Online Retail

Masters  and  Mavens  are  the  knowledgeable  tradespeople.  They  possess  a  depth  of exper)se  and  experience  that  others  seek  out when  needing  advice.  They  love    using  their  knowledge    to  help  others    solve  problems.  

Page 29: Harnessing the Power of Advocates: The Secret to Online Retail

Loyalists  are  a  brand’s  biggest  devotees.  They    are  the  evangelists,  on  a  mission  to  spread  the

word.  Loyalists  are  extremely  good  at  sugges)ng  products    and  reinforcing  peoples    choices  because  their    excitement  and  passion    rubs  off.  

Page 30: Harnessing the Power of Advocates: The Secret to Online Retail

Enthusiasts  are  lifestyle  experts  in  the  categories  that  a  brand’s  product  offerings  cover.   They  live  the  lifestyle  or  exemplify  the  hobby  that   a  brand  encourages.    They’re  great  in  mul)-­‐brand    environments  and  love    to  guide  customers    through  an  exploratory    process  to  find  the    right  product.    

Page 31: Harnessing the Power of Advocates: The Secret to Online Retail

With  their  passion,  knowledge  ,  and  willingness  to  share  combined,    

Page 32: Harnessing the Power of Advocates: The Secret to Online Retail

Decide  how  many  of  each  type  you’ll  need  based  on  the  needs  of  your  shoppers  

Page 33: Harnessing the Power of Advocates: The Secret to Online Retail

Now  it’s  Pme  to  idenPfy  your  advocates!    

Where  do  they  congregate?  

What  kinds  of  messages  do  they  respond  to?  

Page 34: Harnessing the Power of Advocates: The Secret to Online Retail

With  your  advocates  targeted  and  recruited,  it’s  )me  to  throw  coupons  and  contests  at  them  on  social  media  to  get  them  to  share  your  link  or  handle…  

Right?  

Page 35: Harnessing the Power of Advocates: The Secret to Online Retail

 

Then  hopefully,  some  of  that  traffic  trickles  to  your  site  and  an  even  smaller  amount  converts  into  sales.    

Isn’t  that  advocacy?    

Page 36: Harnessing the Power of Advocates: The Secret to Online Retail

Wrong  

Page 37: Harnessing the Power of Advocates: The Secret to Online Retail

Not  if  you  can  place  your  advocates  closer  to  the  point  of  purchase        answering  shoppers’  quesPons  while  they  shop    

     making  informed,  expert  recommendaPons    

       acPng  as  unbiased  shopping  consultants.  

Page 38: Harnessing the Power of Advocates: The Secret to Online Retail

This  is  the  ideal  way  to  uPlize  your  advocates,  but  it  only  works  if  you    

cerPfy  and  qualify  your  advocates    

incenPvize  them  to  stay  up-­‐to-­‐date  

Page 39: Harnessing the Power of Advocates: The Secret to Online Retail

Above  all,      

       let  your  advocates  be  open  and  honest.  

Finally,  you’ll  only  get  the  full  benefits  of  your  advocates  if  you  provide  them  with  a  plaWorm  in  which  to  interact  naturally  with  your  shoppers.    

Page 40: Harnessing the Power of Advocates: The Secret to Online Retail

When  genuine  advocates  assist   customers  close  to  the  point  of  purchase,  magical  things  happen  

Page 41: Harnessing the Power of Advocates: The Secret to Online Retail

Conversion  Increases  

Up  to  15X  

*  Over  self-­‐service  

Page 42: Harnessing the Power of Advocates: The Secret to Online Retail

Net  New  Revenue  

Up  to  90%  

*  Incremental  revenue  

Page 43: Harnessing the Power of Advocates: The Secret to Online Retail

Increase  NPS  

10-­‐22  Basis  pts  

Page 44: Harnessing the Power of Advocates: The Secret to Online Retail

Bring  it  all  together    with  a  customized  demo  

Request  A  Demo