go for the future
TRANSCRIPT
KONTAKT
Go for the future
How jewellers cope with the things to come
KONTAKT KONTAKT
www.wieland-beratung.de
Marketing Coaching for start-
ups
Online-Marketing
• conceptions
• Social Media
• Copywriting
2013: First book edition
Kontakt: Habichtstalgasse 11c 35037 Marburg Tel.: +49 (0) 6421 4987775 Mobil: +49 (0) 160 94737604 Mail: [email protected] Web: www.wieland-beratung.de
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The core question
Why should your customer buy? In your Shop? In the
future?
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Speed-Delphi
What are the 3 biggest challenges for jewellers in the coming 10 years
How to respond to e-commerce?
Cooperation between supplier and jeweller concerning online marketing?
„This speed delphi was for getting a feeling for the subject of going for the future. Therefore I contacted several CEOs from well-known firms.“
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The biggest challenges?
Individual customer care, individual selling,
individual marketing
Meeting the challenge of e-commerce
Go for innovation
Building online
marketing
Settling the
succession
survive
Sound cash flow and profit
4 core themes: - innovation - customer care - online marketing - survival
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How to respond to e-commerce?
Customer care
Improve Your
service
Sell products, that can´t be sold online.
Enhance Your USP,
Your profile
Offer services that can´t be offered
online
branding Pimp Your
online assets
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Cooperation supplier - jeweller
Close cooperation
and networking
Cooperation in marketing
Interconnection of data throughout the value chain Global marketing
strategies for the local market
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Thanks to these firms for participating in the speed delphi
Junghans, Mühle
Wörner Einzelhandelsberatung
Tosun
Gooix Paukner
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Outline of „Going for the future“
attitudes towards future
Megatrends as foreseeable
developments
Skills to go for the future
Challenge e-commerce
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4 attitudes towards future
Fear, anxiety Pragmatic step by step
approach
the total believers progress as an ideology
Essential things don´t change so fast
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Zukunfts-Angst Apocalyptic philistines
Seeding fear to control people
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Life is problem solving
Ability to adapt
Future can´t be foreseen – remain open-minded
evolution step by step
Robust steps
Asking the right questions to lead your company in an unforeseeable future. Robust steps – trial and error: making decisions without breaking one´s neck
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The total believers
„He is smoking 60 cigarettes a day as he is sure to get a new lung in a few years due to the progresses in genetics“ Matthias Horx: „Wie wir leben werden“
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There are constants in history
„It is seldom that one thing is replaced completely by something else“ Matthias Horx: „Wie wir leben werden“
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What is your position?
Fear, anxiety Pragmatic step by step
approach
the total believers progress as an ideology
Essential things don´t change so much
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Would that be wise?
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ARE THERE FORESEEABLE DEVELOPMENTS?
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11 Megatrends
Individualization Female Shift Silver Society education
„New Work“ health LOHAS Connectivity - digitalization
Globalization urbanization mobility
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Megatrend individualization
„I don´t buy wedding-rings off the peg!“
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Megatrend individualization
„I don´t buy wedding-rings off
the peg!“
The self is a value of its own. Demand for • Individualized products • Individualized services • Individualized customer care?
What can a jeweller do? • What about your crm data base? • Is your staff sensitive about it? • What kind of individualized services do you offer?
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Megatrend education
Smart customers
New customer events: watch dinner, public
watch fairs
Content marketing
Inhouse events
Youtube and the www make education
available for all
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Connectivity - digitalization
New sales channels
New marketing
opportunities
rationalization
Is it only a web-businesscard
You use it for branding
… for information and dialogue
… for acquiring leads
… for selling online?
What about your website?
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Megatrend globaliziation
„Wanted: Shop assistant with fluency in Chinese “ job ad of a German jeweller
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Megatrend urbanization
Cities as prospering centers of
economic wealth and innovation
Why should local retail die?
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Megatrend urbanization
What can you do to make your local shop an attraction?
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Assessing megatrends for your business
Human resources
Range of goods
services
channels Overhead, ERP
controlling
customers
digitalization
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Assessing megatrends for your business?
Megatrends are relevant for all value activities of your jewellery business: • Customer care • Customer touchpoints • Range of goods • Sales talk • Services • Human resources • Overhead, ERP, controlling
They offer starting points for your company to go for the future
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Make your jeweller shop go for the future
innovation
identity
Innovation versus core-values Your core-identity, your brand-mission is the starting point. Is this identity strong enough to go for the future? Will you fascinate your customers even in 10 or 20 years? Technological shift and megatrends demand constant innovation. How to do this? How to adapt? Do you have a planned innovation process installed?
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Brand identity as an everlasting stronghold
Munichs most famous delicatessen shop • Dallmayr would never give up some of its most valuable traits: the range of high quality goods, the beautiful architecture of the shop in Munich´s Diener
Straße, the blue-white dresses of its sales-assistants, and the many more things that makes Dallmayr a Munich touristic attraction.
• but: Dallmayer is up to date concerning online-marketing with strong rankings both at the level of corporate website and e-commerce Thus: preserving core values and adapting the firm to modern needs to maintain competitive advantage go hand in hand
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Brand foundations for future competitiveness
Roots, History?
Who am I, what are my competitive advantages?
How do I differentiate and get advantages from being different?
Who is my customer and what does it mean for him to be my customer?
Unique traits of your shop?
What is my mission – what is the purpose of being in my market?
What are my values?
Framework of the DDB advertising agencies to analyze core values and strength of brand identity
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Visible signs of a strong brand mission
location shopfitting logo and CI
Employee´s appearance and
demeanour
range of goods
advertising
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Innovation for future competitiveness
Innovation as a primary task for jewellers
What about research and development in your shop?
Think about developping your brand mission
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Sources of innovation
• (informal) meetings on a daily basis
• Reporting sales talks • Quality circles • Employee idea system • ….
staff
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Customer surveys • Performance rating • Individual interviews • ….
customers
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Hire a consultant for evaluation
• Experience exchange groups
• Look at your shop with they eyes of a stranger
• ….
The view from outside
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Herz-Nieren-Check • Erfa-Gruppen • Kunden-Reise • ….
Externe Beratung
• Not only technical ones • What do your customers
read? • ….
Magazines, journals
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Herz-Nieren-Check • Erfa-Gruppen • Kunden-Reise • ….
Externe Beratung
• Nicht nur Fachzeitschriften
• Was lesen Ihre Kunden? • ….
Zeitschriften
• Supplier websites • Relevant online forums • Blogs • Competitor´s websites • Facebook-fanpages • ….
Online sources
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Herz-Nieren-Check • Erfa-Gruppen • Kunden-Reise • ….
Externe Beratung
• Nicht nur Fachzeitschriften
• Was lesen Ihre Kunden? • ….
Zeitschriften
• Websites von Herstellern • Foren, Ratgeberportale • Blogs • Wettbewerber-Seiten • Facebook-Fanpages • ….
Online-Inhalte
• External and internal trainings
• seminars • Technical training and • communication skills • ….
Continous training
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Quellen der Innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Herz-Nieren-Check • Erfa-Gruppen • Kunden-Reise • ….
Externe Beratung
• Nicht nur Fachzeitschriften
• Was lesen Ihre Kunden? • ….
Zeitschriften
• Websites von Herstellern • Foren, Ratgeberportale • Blogs • Wettbewerber-Seiten • Facebook-Fanpages • ….
Online-Inhalte
• Externe Schulungen • Interne Trainings • Fachthemen • Kompetenz-Themen • Chef-Trainings etc….
Weiterbildung
• Check them at a regular basis
• Find out their strengths and weaknesses
• Check their stores, their websites, their strategies
competitors
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Sources of innovation
• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….
Mitarbeiter
• Smiley-Karten • Kunden-Befragungen • Online-Bewertungen • ….
Kunden
• Herz-Nieren-Check • Erfa-Gruppen • Kunden-Reise • ….
Externe Beratung
• Nicht nur Fachzeitschriften
• Was lesen Ihre Kunden? • ….
Zeitschriften
• Websites von Herstellern • Foren, Ratgeberportale • Blogs • Wettbewerber-Seiten • Facebook-Fanpages • ….
Online-Inhalte
• Externe Schulungen • Interne Trainings • Fachthemen • Kompetenz-Themen • Chef-Trainings etc….
Weiterbildung
• Regelmäßig, systematisch • Store-Check • Web-Analyse • Stärken – Schwächen • Wie tickt er?
Wettbewerber
• Benchmarks • Prozesse • Marketing-Tools
Außerhalb der Branche
• Not only jewelry fairs • Where are the places
where future is made?
trend journeys
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Implementing innovation: keep it simple
Pursue your goals Keep the process
simple with a hands-on mentality
Remain open minded
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HOW TO KEEP UP WITH ECOMMERCE?
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E-Commerce vs. Local jeweller
Main differences
Service quality
Key figures
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E-Commerce vs. local jeweller : „the store“
Jeweller Online-shop
departments categories
Ambiance by employees, architecture, music, air of the room
Ambience by web design, pictures, copy, audio, video
Sales assistant responsible
Product page, check-out process
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E-Commerce vs. local jeweller : „the store“
Jeweller Online-shop
Quality of location (social) web visibility
Shop architecture, shop fitting
webdesign
Shop window, shop entrance
Home page
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How do they sell?
Juwelier Online-Shop
warm welcome landingpage
Active query of customer´s needs in the sales talk
Search function, filter criteria
Active presentation Category and product
pages
Further sellings in the hand of the assistant
Systematic further recommendations
Assistant responsible for strong sellings
Strong sellings are a question of sales path configuration
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E-Commerce vs. local jeweller : „service quality“
Jeweller
empathy
entertainment
Edutainment: education and entertainment
Look and feel
„There is a lot going on“
Online-Shop
Constant quality of presentation
Attractive Multi-media content
Time saving
Guaranteed sale on exchange
More payment options
More comfortable hire-purchase
More longtail products
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E-Commerce vs. local jeweller : „key figures“
jeweller online-shop Key figure
Conversion rate 20 % 3 %
Cost of sales up to 60% 58 – 60%
overall costs 27 – 40% per
revenue up to 41% per
revenue
EBIT margin up to 14% per
revenue up to 14% per
revenue
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E-Commerce vs. local jeweller : „key figures“
Conclusion: No real difference between local jeweller and online shops concerning profit. A lot of online-shops are losing money. Is it wise to establish an internet shop? Only if planned carefully. A step-by-step approach prevents from burning money. Great differences in conversion rates Local retail is at a clear advantage. Most internet shops creep around 3%. Local retail achieves higher conversion rates, from 20% up to 80%: dependent on your strategy; the closer you get to self service the worse; if you qualify your customers by fixing sales dates, by selecting exclusive customer groups, the better your conversion rate.
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Conclusion
Remain open-minded and let fears behind
Build your business on empathy and the stronghold of a unique brand
Beat internet competitors at their own game
„It is seldom that one thing is replaced completely by something else“
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Thank you for your attention
• Please feel free to contact me for further questions.
• Give me a coall: + 49 160/94737604
• Send me an email: [email protected]
• or subscribe to my news-letter
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Sources:
• Megatrend Map Zukunftsinstitut http://www.trend-update.de/wp-content/uploads/2011/08/Megatrend-Map.pdf
• www.zukunftsinstitut.de
• Matthias Horx: „Wie wir leben werden“ (Campus Verlag, 2005, Frankfurt am Main)
• Picture and logo of Dallmayr: www.dallmayr.de
„This is to state expressively that the concept of the 11 megatrends is an intellectual property of the Zukunftsinstitut, www.zukunftsinstitut.de. From my point of view it is an appropriate framework to think about future challenges and endeavours.“
Copyright © 2015 by Andreas J. Wieland, www.wieland-beratung.de All rights reserved. This presentation or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in a book review
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