Go for the future How jewellers cope with the things to come

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www.wieland-beratung.de Kontakt: Habichtstalgasse 11c 35037 Marburg Tel.: +49 (0) 6421 4987775 Mobil: +49 (0) 160 94737604 Mail: [email protected] Web: www.wieland-beratung.de

Marketing

Coaching for startups

Online-Marketing • conceptions • Social Media • Copywriting

2013: First book edition

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The core question

Why should your customer buy? In your Shop? In the future? www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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?

„This speed delphi was for getting a feeling for the subject of going for the future. Therefore I contacted several CEOs from wellknown firms.“

Cooperation between supplier and jeweller concerning online marketing? www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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The biggest challenges? Individual customer care, individual selling, individual marketing

Sound cash flow and profit

Settling the succession

survive

Building online marketing Go for innovation

4 core themes: Meeting the challenge of e-commerce

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innovation customer care online marketing survival

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How to respond to e-commerce?

Customer care

Improve Your service

Enhance Your USP, Your profile

Offer services that can´t be offered online

Sell products, that can´t be sold online.

branding

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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

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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 the total believers progress as an ideology

Pragmatic step by step approach

Fear, anxiety

Essential things don´t change so fast www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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

Asking the right questions to lead your company in an unforeseeable future. Robust steps – trial and error: making decisions without breaking one´s neck

evolution step by step Robust steps www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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? the total believers progress as an ideology

Fear, anxiety Would that be wise?

Pragmatic step by step approach

Essential things don´t change so much www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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ARE THERE FORESEEABLE DEVELOPMENTS? www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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11 Megatrends Individualization

Female Shift

Silver Society

education

„New Work“

health

LOHAS

Connectivity digitalization

Globalization

urbanization

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mobility

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Megatrend individualization

„I don´t buy wedding-rings off the peg!“

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Megatrend individualization 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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„I don´t buy wedding-rings off the peg!“

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Megatrend education

Smart customers

New customer events: watch dinner, public watch fairs

Inhouse events

Content marketing

Youtube and the www make education available for all

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Connectivity - digitalization New sales channels New marketing opportunities

What about your website? Is it only a web-businesscard You use it for branding … for information and dialogue

… for acquiring leads … for selling online?

rationalization

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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

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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

digitalization controlling Overhead, ERP

Human resources Range of goods

customers

channels services

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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

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?

identity www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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 www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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 www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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Sources of innovation

staff • (informal) meetings on a daily basis • Reporting sales talks • Quality circles • Employee idea system • …. www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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Sources of innovation

Mitarbeiter customers

• • • • •

Tägliche Besprechungen Beratungsprotokolle Customer surveys Qualitäts-Zirkel Performance rating Mitarbeiter-Vorschläge Individual interviews ….

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Sources of innovation

The view Mitarbeiter Kunden from outside • • • • • • •

Hire a consultant for evaluation Tägliche Besprechungen Experience exchange Beratungsprotokolle Smiley-Karten groups Qualitäts-Zirkel Kunden-Befragungen Look at your shop with Mitarbeiter-Vorschläge Online-Bewertungen they …. eyes of a stranger ….

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Sources of innovation

Magazines, Externe Mitarbeiter Kunden Beratung journals

• • • • •

Tägliche Besprechungen Beratungsprotokolle Smiley-Karten Herz-Nieren-Check Not only technical ones Qualitäts-Zirkel Kunden-Befragungen Erfa-Gruppen What do your customers Mitarbeiter-Vorschläge Online-Bewertungen Kunden-Reise read? ….

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Sources of innovation

Externe Online Zeitschriften Mitarbeiter Kunden Beratung sources • • • • • •

Supplier websites Tägliche RelevantBesprechungen online forums Beratungsprotokolle Smiley-Karten Herz-Nieren-Check Nicht Blogs nur Qualitäts-Zirkel Kunden-Befragungen Erfa-Gruppen Fachzeitschriften Competitor´s websites Mitarbeiter-Vorschläge Online-Bewertungen Kunden-Reise Was lesen Ihre Kunden? Facebook-fanpages ….

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Sources of innovation

Continous Externe Online-Inhalte Zeitschriften Mitarbeiter Kunden Beratung training • • • • • •

External and Websites voninternal Herstellern Tägliche Besprechungen Foren, Ratgeberportale trainings Beratungsprotokolle Smiley-Karten Herz-Nieren-Check Nicht Blogs nur seminars Qualitäts-Zirkel Kunden-Befragungen Erfa-Gruppen Fachzeitschriften Wettbewerber-Seiten Technical training and Mitarbeiter-Vorschläge Online-Bewertungen Kunden-Reise Was lesen Ihre Kunden? Facebook-Fanpages communication skills ….

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Quellen der Innovation

Externe Online-Inhalte Weiterbildung Zeitschriften competitors Mitarbeiter Kunden Beratung • • • • • •

Check them Websites vonatHerstellern a regular Tägliche Besprechungen Foren, Ratgeberportale Externe basis Schulungen Beratungsprotokolle Smiley-Karten Herz-Nieren-Check Nicht nur Blogsout Interne Find Trainings their strengths Qualitäts-Zirkel Kunden-Befragungen Erfa-Gruppen Fachzeitschriften Wettbewerber-Seiten Fachthemen and weaknesses Mitarbeiter-Vorschläge Online-Bewertungen Kunden-Reise Was lesen Kunden? Facebook-Fanpages Kompetenz-Themen Check theirIhre stores, their …. Chef-Trainings websites, theiretc…. strategies

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Sources of innovation

Außerhalb Externe Wettbewerber trend Online-Inhalte Weiterbildung Zeitschriften Mitarbeiter Kunden journeys der Beratung Branche • • • • • •

Websites von Herstellern Tägliche Besprechungen Foren, Externe Regelmäßig, Not only Ratgeberportale Schulungen jewelry systematisch fairs Beratungsprotokolle Smiley-Karten Herz-Nieren-Check Nicht Blogs nur Interne Store-Check Benchmarks Where are Trainings the places Qualitäts-Zirkel Kunden-Befragungen Erfa-Gruppen Fachzeitschriften Wettbewerber-Seiten Fachthemen Web-Analyse Prozesse where future is made? Mitarbeiter-Vorschläge Online-Bewertungen Kunden-Reise Was lesen Ihre Kunden? Facebook-Fanpages Kompetenz-Themen Stärken Marketing-Tools – Schwächen …. tickt er? etc…. Chef-Trainings Wie

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Implementing innovation: keep it simple Pursue your goals

Keep the process simple with a hands-on mentality

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HOW TO KEEP UP WITH ECOMMERCE? www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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E-Commerce vs. Local jeweller Main differences Service quality

Key figures www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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E-Commerce vs. local jeweller : „the store“ Jeweller Sales assistant responsible Ambiance by employees, architecture, music, air of the room

Online-shop Product page, check-out process Ambience by web design, pictures, copy, audio, video

departments

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categories

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E-Commerce vs. local jeweller : „the store“ Jeweller

Online-shop

Shop window, shop entrance

Home page

Shop architecture, shop fitting

webdesign

Quality of location

(social) web visibility

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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

Online-Shop

empathy

Constant quality of presentation

entertainment

Attractive Multi-media content

Edutainment: education and entertainment

Time saving

Look and feel

Guaranteed sale on exchange

„There is a lot going on“

More payment options More comfortable hire-purchase More longtail products

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E-Commerce vs. local jeweller : „key figures“ Key figure

jeweller

Conversion rate

online-shop

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“ www.wieland-beratung.de | +49 (0) 160 94737604 | [email protected]

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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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