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This presentation was given by Econsultancy senior research analyst Andrew Warren-Payne at FeWeb's 'The Future is Back' event on April 1st 2014. In his talk, Andrew highlighted the continual existence of "The Gap" in digital marketing between what companies want to be doing and what they are actually doing. Based on the decreasing longevity of companies, this gap presents a real danger for companies who do not seek to close it. This gap is being created by the constant pace at which consumer behaviour is changing, driven by speed of developments in technology. And just as mobile and multichannel customer behaviours are proving a challenge to companies today, the emergence of the 'Internet of Things' will again change customer behaviour in the future.
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Andrew Warren-Payne
Senior Research Analyst
@agwp
The Future by FiguresApril 1st 2014, FeWeb, Brussels
| The Future by Figures| 2
The Gap
The Behaviour
The Device
| The Future by Figures| 3
1994 Netscape browser released
Where have we come from?
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1994 Netscape browser released
2014 $1.2 trillion sold online
Where have we come from?
Source: eMarketer
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Photo credit: Mark Hilary on Flickr
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“A great customer experience is key to driving brand loyalty.” 89%
Source: Econsultancy / Sitecore Customer Lifetime Value Report
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“A great customer experience is key to driving brand loyalty.”
“We understand the key digital touchpoints within the customer lifecycle.”
89%
55%
Source: Econsultancy / Sitecore Customer Lifetime Value Report
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Photo credit: 123dan321 on stock.xchng
Source: Econsultancy / Whatusers Do UX Survey Report
of companies say they are committed to delivering good UX.78%
| The Future by Figures| 9
Photo credit: 123dan321 on stock.xchng
Source: Econsultancy / Whatusers Do UX Survey Report
of companies do user experience testing.55%
of companies say they are committed to delivering good UX.78%
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Just 16% of companies have integrated customer touchpoints across physical and digital to a “large extent”.
Source: IBM C-Suite Study
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Photo credit: Magnus D on Flickr
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| The Future by Figures| 13Photo credit: Andy Harding, House of Fraser
The Behaviour…
| The Future by Figures| 14
2,000 consumers told us about retail
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say multichannel shopping is “very important”40%
Source: Multichannel Retail Survey
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Multichannel cuts across all age groups
18 - 34 35 - 54 55 +
53%
38%28%
37%
49%
54%
11% 13% 18%
Source: Multichannel Retail Survey
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Mobile users are nearly twice as likely to visit brand websites…
…and nearly twice as likely to shop from more than four retailers.
Source: Compete
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Photo credit: nkzs on stock.xchng
Multichannel consumers are much more profitable
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Multichannel customers spend 3.5x more than
others
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Photo credit: wikimedia.org
The Device…
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Photo credit: wikimedia.org
If more than half of shoppers are multichannel (online and offline) today…
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Photo credit: wikimedia.org
If more than half of shoppers are multichannel (online and offline) today…
…how will they shop in the future?
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1950s The experience of the store
2010s The experience of the screen
2020s The experience of the connected device
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The Explosion in Figures
2009 0.9bn connected devices
Source: Gartner. Figures exclude smartphones, tablets and PCs.
| The Future by Figures| 25
The Explosion in Figures
2009 0.9bn connected devices
2020 26bn connected devices
Source: Gartner. Figures exclude smartphones, tablets and PCs.
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Ask Yourself: How can my brand use devices to transform the lives of our customers?
Source: Adapted from Pine and Gilmore, The Experience Economy(in Econsultancy’s Progression of Agency Value Report)
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Ask Yourself: How can my brand use devices to transform the lives of our customers?
Source: Adapted from Pine and Gilmore, The Experience Economy(in Econsultancy’s Progression of Agency Value Report)
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STORE
SCREENCONNECTED DEVICE
1010
1010
1010
0101
0101
0101
101010101010
010101010101
Which connected device provides the right door for
a transformative experience?
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Mind the Gap!
Photo credit: R Henlsey on flickr
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All rights reserved. No part of this presentation may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage and retrieval system, without prior permission in writing from the publisher. Copyright © Econsulancy.com Ltd 2014.
Econsultancy reports
Customer Lifetime Value Report
https://econsultancy.com/reports/customer-lifetime-value
User Experience Survey Report
https://econsultancy.com/reports/user-experience-survey-report
The Progression of Agency Value
https://econsultancy.com/reports/the-progression-of-agency-value
The Multichannel Retail Survey
https://econsultancy.com/reports/the-multichannel-retail-survey
Digital Transformation: Agility and Innovation Best Practice Guide
https://econsultancy.com/reports/digital-transformation-agility-and-innovation-best-practice-guide
