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New rules for a new reality

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Creative Director Nathan Watts presented 5 new rules to thrive in a world of constant change at Remix Summit in London.

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New rules for a new reality

  1. 1. NEW RULES for a NEW REALITY Nathan Watts Creative Director, FITCH @FITCHdesign
  2. 2. But.. NEW REALITY? ..what is the new
  3. 3. TV Print Radio DM Email Social SiteRetail Screen Search Mobile CC Customer Omnichannel +
  4. 4. How do we Adapt? 5 to thrive..
  5. 5. #1
  6. 6. Stop thinking consumer Start thinking people
  7. 7. Online is an unforgiving..
  8. 8. The moment choice was offered.. People started choosing ..
  9. 9. Shift our perspective
  10. 10. Consumers.. Victims of marketing plans Respond in predictable ways Fit neatly into segments Rationally buy Follow linear journeys Can always buy more goods People.. Call the shots Change behaviours frequently Have mosaic identities Emotionally buy Do not follow prescriptive paths Seek experiences more than goods
  11. 11. Remedy: Spend 1 day/month speaking to people
  12. 12. #2
  13. 13. Don’t count on loyalty Start earning gratitude
  14. 14. Rewarding visits Vs Rewarding A visit
  15. 15. Forbes 25 most disruptive companies 2/ Airbnb 3/ Facebook 4/ Red Bull 5/ Snapchat 6/ Alibaba 7/ Netflix 8/ Under Armour 9/ Instagram 10/ Apple 11/ CVS 12/ Taylor Swift 13/ Google 14/ Warby Parker 15/ Chipotle 16/ 72andSunny 17/ SoulCycle 18/ Rent the Runway 19/ Houzz 20/ Waze 21/ DraftKings 22/ Coke 23/ Eataly 24/ Birchbox 25/ Virgin America
  16. 16. #3
  17. 17. Stop chasing spend Start encouraging dwell
  18. 18. Happy people stay longer and spend more >1hr 1-2hrs 2-3hrs 3-4hrs Represents relative spend Source: Business insider, Intu research 2012 80 70 60 50 40 30 NPS
  19. 19. 1.3% increase in dwell increase in spend 1% Some numbers..
  20. 20. Rise of the shopping resort Retail Leisure Leisure Leisure Retail Retail Traditional 10% Leisure Fast food court Cinema Conventional 25/35% Leisure Casual dining 3+ attractions Shopping resorts >35% Leisure 8+ attractions Many flagships
  21. 21. Barbour & Parlour
  22. 22. #4
  23. 23. Don’t be led by omni-channel Lead with peaks of emotion
  24. 24. Rocky Racing up the Philadelphia Museum of Art steps The concluding battle against Apollo
  25. 25. Avatar First walk through the bioluminescent forest Attack on the Tree of Souls
  26. 26. Loosing focus.. TV Print Radio DM Email Social SiteRetail Screen Search Mobile CC Customer
  27. 27. Peak End Pleasure Time Most favoured experience Least favoured experience Comparing two experiences Psychological theory developed by Daniel Kahneman and Barbara Fredrickson Find focus: Peak End Rule
  28. 28. McLaren The car is the star
  29. 29. Amazon Go Just walk out
  30. 30. #5
  31. 31. Be less architect Be more stage director
  32. 32. Capex has dictated the pace of change
  33. 33. Experience Minor Refurbishment Customer Expectatory Satisfaction 1 2 3 4 5 6 7 Years ‘Bricks & mortar’ Traditional retail process
  34. 34. People demand change in ‘Internet time’
  35. 35. K11 Shanghai
  36. 36. 1. Start thinking people 2. Start earning gratitude 3. Start encouraging dwell 4. Lead with peaks of emotion 5. Be more stage director
  37. 37. Alasdair Lennox Executive Creative Director EMEA, FITCH @isawthismorning @FITCHdesign Mind-states, Moments and Memories That will drive revenue inthe future omnichannel retail ecosystem. THANK YOU Nathan Watts Creative Director, FITCH @FITCHdesign

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