Go for the future

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Go for the future

How jewellers cope with the things to come

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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


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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FIT 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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• Tägliche Besprechungen • Beratungsprotokolle • Qualitäts-Zirkel • Mitarbeiter-Vorschläge • ….

Mitarbeiter

• Customer surveys • Performance rating • Individual interviews • ….

customers



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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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Mitarbeiter


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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Mitarbeiter


Kunden


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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Mitarbeiter


Kunden


Externe Beratung



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


Mitarbeiter


Kunden


Externe Beratung



Zeitschriften


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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Mitarbeiter


Kunden


Externe Beratung



Zeitschriften


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



HOW TO KEEP UP WITH ECOMMERCE?

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42

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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



http://www.trend-update.de/wp-content/uploads/2011/08/Megatrend-Map.pdf











http://www.zukunftsinstitut.de/

http://www.dallmayr.de/

http://www.zukunftsinstitut.de/




Retail

Go for the future