Consumers Are Showrooming and Webrooming Your Business, Here's What That Means and What You Can Do About It. How AI is Streamlining Marketing and Sales
The total presentation is based on two pdf and discusses two different scenarios of e-commerce and the digitalization of the online market system.
The first pdf is
Consumers Are Showrooming and Webrooming Your Business, Here's What That Means and What You Can Do About It
The second pdf is
How AI is Streamlining Marketing and Sales
The pdf are described with proper survey statistics and relevant examples.
Similar to Consumers Are Showrooming and Webrooming Your Business, Here's What That Means and What You Can Do About It. How AI is Streamlining Marketing and Sales
Similar to Consumers Are Showrooming and Webrooming Your Business, Here's What That Means and What You Can Do About It. How AI is Streamlining Marketing and Sales (20)
Consumers Are Showrooming and Webrooming Your Business, Here's What That Means and What You Can Do About It. How AI is Streamlining Marketing and Sales
2. 2
Overview
Consumers Are Showrooming and
Webrooming Your Business, Here's
What That Means and What You Can
Do About It
Columbia Business School’s global
survey on Mobile-assisted shoppers
Webrooming vs
Showrooming
ebrooming got more preference by consumers?
Strategies for Retailers
Embrace Customer Habits
How AI is Streamlining Marketing and
Sales
What is Artificial
Intelligence (AI)
CenturyLink
How AI is helping in Marketing &
Sales
RapidMining
Epson America
3. Consumers Are Showrooming and
Webrooming Your Business, Here's
What That Means and What You
Can Do About It
3
5. 5
Columbia Business School’s global survey on
Mobile-assisted shoppers
♠ Surveyed 3,000
shoppers
♠ UK, USA, Canada
6. 6
Age Distributions of M-Shoppers
40-49 years
OLD
30-39 years
OLD
<30 years
OLD50-64 years
OLD
65+ years
OLD
7. 7
EXPLOITERS – 6.1%
“Premeditated about lower prices
58%
will showroom for free shipping
1.7x
more likely than other M-shoppers
to showroom because of online
loyalty rewards
8. 8
Savvy's – 12.6%
“Calculating, but persuadable”
45%
have scanned a QR or Bar-code in
store
1.3x
more likely than other M-shoppers
to compare prices in stores
9. 9
Price-Sensitive – 19.4%
“Don’t plan, but always opt for deals”
76%
can be swayed to purchase in-
with a price-matching offer
68%
can be swayed to purchase in-
store with a reward point offer
10. 10
Experience seekers – 31.7%
“Value the best experience, not
just price”
43%
are motivated to purchase in-store
exclusive store events
1.2x
more likely than other M-Shoppers
to contribute an idea to the store
11. 11
Traditionalist – 30.2%
“Prefer the in-store shopping
experience”
100%
have not showroomed in the past
months
1.8x
more likely than other M-Shoppers
to prefer shopping locally
12. What M-Shoppers Research in Stores
Price
Checking
Info and
Reviews
Call / text a
Friend or
Family
Number
Regularly Occasiona
lly
Almost
Never
13. 13
So, Are all M-Shoppers are
Showrooming?
30%
Never
Always buy in-
store once
25%
Yes
Requires price
discounts to
deter
showrooming
45%
On the
Fence
May opt to buy
in-store despite
cheaper online.
15. “
Showrooming is when a shopper visits a
store to check out a product but then
purchases the product online from home.
This occurs because, while many people still
prefer seeing and touching the merchandise
they buy, many items are available at lower
prices through online vendors”
15
17. “
Webrooming is the opposite behavior to
'showrooming. Webrooming, is when
consumers research products online
before going into the store for a final
evaluation and purchase.”
17
19. 19
How Webrooming got more preference by consumers?
Online retailers understanding the importance of omni-channel selling,
resulting in the adoption of an ecommerce storefront.
Focused on providing a better in-store customer experience.
Knowledgable sales staff
In-store pick-ups of online orders; In-store Wi-Fi.
Smartphone discounts nudging shoppers to buy in-store.
20. 20
What makes customers want to come in-store to make or
complete a purchase?
47% don't want to pay for shipping.
23% didn't want to wait for the product to delivered.
46% like to go to a store to touch and feel a product before
they buy.
36% will ask the store to price match a better price found
online.
22. ⊙ According to a global survey,60% customers
believe that multiple retail channels including
web, social, mobile, and physical retail will be
the norm for most stores.
⊙ 56%of the respondents said they would
spend more money at physical retail stores if
1.
Go Omni-
Channel
22
23. 2.
Engage
Customers
with Great
Service and
Incentives
⊙A poll in 2012 indicated that 69% of its
respondents thought in-store purchases were
"most reliable," and 68% said it was the
"easiest" and the "most convenient" way to
shop.
⊙Retailers can take advantage of this by
increasing interaction between sales staff and
customers and making it easier than ever to 23
25. 3.
Engage
Shopper’s
Opinions
⊙23% already post updates to a social
media service while in-store while 19%
checked in with a location-based service
Foursquare.
⊙Retailers can ask customers to like their
Facebook page, take a photo with their
product and tag it with a branded hashtag
Instagram, or share their purchases on
25
28. 5.
Loyalty
Program
55%
customers are
willing to join
loyalty program
in order to get
some special
offers
28
As a member of
loyalty program,
customer are 48%
more likely to buy
in store, even in
lower price in
online
30. “
We all know that consumer shopping habits
are changing, that they’re equipped with
smartphones, using online reviews to form
their opinions, and have preferences for what
kind of products they purchase online
30
31. “
Consumers will continue to evolve alongside
technology, it is high time that businesses
to evolve and understand the fact that in
order to stay competitive, relevant, and
most importantly, profitable, they have to
keep up.
31
33. What is
Artificial
Intelligence
The Theory & Development of
computer systems able to perform
tasks normally requiring human
intelligence, such as visual
perception, communication, speech
recognition, decision-making, and
33
34. “ Artificial Intelligence is likely
to be either the best or worst
to happen to mankind.
Stephen Hawking
34
35. AI as per Alan
Turing
Can make you believe that
you are interacting with
another person
Imitate Human Response so
well
35
38. CenturyLink ⊙ American Telecommunication
Company
⊙ Headquarter: Monroe, Louisiana
⊙Provides communications and data
services
⊙ Member of S&P 500 Index & Fortune
38
40. What
CenturyLink
does
⊙ Collects thousands of sales leads
from the businesses it serves
⊙ Interacts with them in the intimate,
personal manner
⊙Pursues those lead efficiently
⊙ Converts & Upsells a larger portions
of Hot leads 40
41. Introducing Angie
An AI powered sales assistant made by
Conversica to identify the hot leads
41Year- 2016
42. What
Angie
Does
⊙ Sends about 30,000 email per month
⊙ Interprets the responses to determine who
is a hot lead
⊙ Sets the appointment for the appropriate
salesperson
42
43. What
Angie
Does
⊙ The potential customer gets a prompt and
helpful outreach
⊙ Saves time of Representatives
⊙Routes Right lead to the Right
representative
⊙Send the incomprehensible response to
her manager
43
44. “
44
The company has approximately 1,600 sales
people, and the Angie pilot started with four of
them. That number soon rose to 20, and
continues to grow today.
Scott Berns,
The Director of Marketing
Operations
47. Problems
47
• RapidMiner offers free trials
• It was struggling to serve the approximately 60,000
users each month for the free trial
• Many of the visitors are not paying anything for the
service
• The company had a popular chat feature on its site, but
its salesforce was overwhelmed.
• Had to spend a great deal of time sorting through the
chat sessions to find potential customers
49. Drift
49
• A chat tool
• It would ask a visitor initiating a chat, “What brought
you to RapidMiner today?”
• The visitor would respond, and the Drift bot would
provide one of seven potential follow-up answers.
• The Drift bot now conducts about a thousand chats per
month.
• It resolves about two-thirds of customer inquiries;
those that it cannot, it routes to humans
• Drift is generating qualified leads for the sales team by
50. “⊙We’ve learned about new
use cases, and we’ve
learned about product
problems.
50
Strength of an AI agent that can elicit information like a
person, rather than an analytics tool that simply finds patterns
in the data it collects, like a machine.
52. 52
Was drowning in all the
leads for the company’s
diverse line of products:
big printers
Projectors
Scanners
point of sale solutions
industrial robots
Was getting 40,000 to
60,000 leads per year
trade shows
direct mail
email marketing
social media, print and
online advertising,
Problems
53. 53
Whether they were good, bad, qualified or
not, they would all be turned over to
salespeople whose availability to follow
up was inconsistent.
54. Conversica
AI assistant
54
a lead is
passed to one
of Epson’s
partners
the AI assistant
follows up to
make sure the
customer was
satisfied
response to
that follow-
up
identifies a
new sales
opportunity
55. 55
Present Epson America
Epson’s leads are now followed up promptly and persistently until their
AI assistant gets a response
The outreach to leads takes 6-8 times and so Conversica is a true force
multiplier for the sales team
51% 240% 75%
Official response rate increase from the
baseline established
increase in qualified leads
56. 56
Better way to
learn about
your leads.
Streamline data
analysis &
Convert more
leads
Customer Satisfaction
Eliminating manual tasks
Enhancing search
How AI Helps in Marketing and Sales