brand mavens: how to connect with today's most powerful shoppers

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Brand Mavens

#BrandMavens

How To Connect With Today’s Most Powerful Shoppers

#BrandMavens

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#BrandMavens

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Introduc8ons

Gary Lombardo VP Marketing, CashStar [email protected] 781.864.1679 @garylombardo

Debbie Hauss Editor-in-Chief, Retail TouchPoints [email protected] 201.638.6758 @dhauss


>  Executive Report Released Today

>  Available to CashStar Innovate 2015 Attendees first

>  Joint research done with:


Brand Mavens Cannot Be Ignored

Today's most influenLal consumers are Brand Mavens: digitally engaged, brand-‐loyal consumers who influence others to buy. Brand Mavens cannot be ignored by retailers looking to survive and thrive.


The Use of Branded Currency is at the Founda8on of Their Influence 68% would like to uLlize branded

currency — one card for compleLng payments, accessing loyalty points and redeeming coupons and promoLonal offers Branded currency makes it easy for them to shop & recommend a brand >  motivates more frequent

purchases >  encourages recommendations

to friends, family and colleagues

…and they are looking for "an enhanced shopping experience with seamless, loyalty integra'on, offer redemp'on, and shopping tools.” -‐ McKinsey & Company


Brand Mavens Are Digitally Engaged

Most prefer to use digital giD cards for comple'ng payments:

75% are more likely to re-‐shop a brand if they can use their gi[ card for payment.

I use the following apps for managing and redeeming gi[ cards.

Most use mobile technology frequently, specifically mobile wallets and mobile payments:

54% use retailer specific apps 48% use third party mobile wallets


Brand Mavens Are Brand Loyal

55% consider joining a brand’s loyalty program

51% are interested in tying their gi[ cards directly to a retail loyalty account (compared to just 28% of total U.S. consumers).

If given a gi[ card for a brand that I have never tried, I consider trying that brand.

I am more likely to re-‐shop a brand if it is easy to use my gi[ card for payment.

56% want to re-‐load a card, which will result in addiLonal sales and long-‐term loyalty .


Brand Mavens Influence Others

55% influence others to purchase gi[ cards

47% encourage friends, family and co-‐workers to join retail loyalty programs (which is significant because 90% of consumers trust peers when making purchasing and loyalty decisions) .


35%

24%

18%

23%

Brand Mavens Are Geographically Dispersed

Brand Mavens represent 53% of U.S. shoppers.


Brand Mavens Are Mainly Female, Young and Married

60% are female

49% are 21-‐49 65% are married, in a domesLc partnership or civil union, or cohabitaLng with a significant other


Brand Mavens Are Educated and Affluent

59% have a Bachelor or Graduate degree

89% are responsible for household financial

decision-‐making


Brand Mavens Have Significant Purchasing Power


How, When and Where are Brand Mavens Flexing Their Purchasing Strength?


Brand Mavens Are Pervasive

They shop with gi[ cards and influence purchase and loyalty most frequently within certain retailer verLcals:

85% Restaurants 73% Department/Big Box

64% Fashion and Apparel

They also frequently shop and influence purchasing decisions with health and beauty, home goods and furnishings and outdoors and spor'ng goods retailers.


Brand Mavens Are Omnichannel

Brand Mavens shop all channels:

90% Physical Store 79% Retail Brand Web Site

37% Mobile

8% Social


Brand Mavens Are Informed

66% read product reviews before compleLng a purchase.

61% consult friends, family or co-‐workers before

making a purchase

.


Brand Mavens Are Social

Brand Mavens have a well-‐connected social network and broad presence on social media, which they use to inform, educate, advise and influence others.

More than 28% share feedback about experiences via Twi=er, Facebook, Google and other social channels.


How To Capture The A\en8on Of Brand Mavens For Success


Embrace Branded Currency

68% of Brand Mavens want to be able to use one card for compleLng payments, receiving loyalty points and redeeming coupons/promoLonal offers.

Retailers need to simplify and unify the systems and processes that drive giDing, loyalty and coupons and promo'onal offers.


Know Your Customers

Understand what moLvates your shoppers to purchase from you across channels, devices and geographies.

Create an integrated digital backbone that enables shoppers to purchase in a seamless manner while receiving incenLves to repeat purchase.


Foster Advocacy The voices of Brand Mavens are loud and influenLal, so embracing them are important

Create ways for them to communicate and engage:

Email retargeLng

LocaLon-‐based messaging

2D Barcode scanning

Social Engagement


Retailers Ahead Of The Digital Gi_ing Game


REDcard Users

Visit Twice as Much

Spend 50% more

Mobile Shopping Hours

+ 251% in March 2014 compared to 2013

76% of those hours on Cartwheel & Shopping App

Sources: Trevis & Fortune


In an e-‐gi_ card promo8on, JCPenney offered coupons as a bonus instead of another gi_ card, as well as rolled out integrated coupons and loyalty on different devices. This appeals to digitally engaged, brand loyal Brand Mavens.


Sports Authority combines social media with digital gi_ing – just the 6cket to a7ract Brand Mavens! The retailer rewards shoppers who tweet inspira8onal and other messages with digital gi_ cards! Source: sweeLq.com

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Brand Mavens appreciate the ability to move between shopping channels, as in this Walmart example… Walmart shoppers received more than $2 million in Savings Catcher rewards in the program’s first 60 days. Source: thecitywire.com


>  ExecuLve Report Released Today

>  Available to CashStar Innovate 2015 Attendees first

>  Come grab one!

Read the Execu8ve Report to Learn More!


Q & A // Panelists

Gary Lombardo VP Marketing, CashStar [email protected] 781.864.1679 @garylombardo

Debbie Hauss Editor-in-Chief, Retail TouchPoints [email protected] 201.638.6758 @dhauss

Thank You For Joining Us!

View this presentaLon on-‐demand at: h\p://rtou.ch/brand-‐maven

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