From Consumer to Collaborator: Reimagining the Marketplace as If People Mattered
From Consumer to Collaborator: Reimagining the Marketplace as If People Mattered
It's time for the word "consumer" to go away. The advent of social media has created a two-way conversation between brands and customers, making the model of "we create, you consume" pejorative and out of touch. People don't want to be defined by what they purchase but crave relationships with purpose. Brands and organizations need to elevate individuals and create experiences or platforms that make them a collaborator versus consumer. Otherwise they risk insulting individuals from the modern marketplace who will take their business somewhere else. Join John C. Havens, Founder of The H(app)athon Project, and author of, Hacking H(app)iness – Why Your Personal Data Counts and How Tracking it Can Change the World (Tarcher/Penguin) as he moderates a discussion on the evolution of the word, "consumer" to discover what better terms can be utilized by brands to honor individuals in a world not driven by wealth. He'll be joined by Matt Hogan, CEO of Datacoup, a company creating the Personal Data Marketplace that lets individuals 'unlock' and profit from their data, along with Nick Stein, SVP of Marketing for Vision Critical, a customer intelligence platform that helps companies to build engaged, secure communities of customers they can use for ongoing, real-time feedback and insight. What You Will Learn: Learn how the rise of privacy concerns is causing individuals to guard and manage their Personal Data in ways that will directly affect brands and marketers. Learn how brands are utilizing one on one relationships with their fans to create a new, empowered customer versus a consumer of the past. Learn how the term, "consumer" is evolving with the rise of the Quantified Self movement and how brands can embrace transparent tracking to build relationships with individuals based on purpose as well as profit. Visit the SB Library to view the recording of this webinar. www.sustainablebrands.com/library
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From Consumer to Collaborator: Reimagining the Marketplace as If People Mattered
- 1. From Consumer to Collaborator: Reimagining the Marketplace As If People Ma7ered #FromC2C / @SustainBrands
- 3. • Speaker Introduc<ons • Presenta<on by John (10 minutes) • Presenta<on by Nick (10 minutes) • Presenta<on by MaG (10 minutes) • Open Q&A led by John (10-‐20 minutes) • Please feel free to ask ques<ons in the chat area or via twiGer: #FromC2C / @SustainBrands • Addi<onal ques<ons from Webinar Audience (5 minutes) • Conclusion / Thank you from Speakers • Wrap up from our hosts at Sustainable Brands Our Webinar Agenda
- 5. The State of “The Consumer”
- 6. Remember how I started this chapter calling you a consumer? Remember how it distanced us, pung us at arm’s length? I did that to prove to you that words maGer. You have more value to give to the world than as a vehicle for consump<on. You can richly contribute to other people’s lives while also deeply apprecia<ng other people’s worth. You can par<cipate in shared value on a personal level and create intrinsic happiness in our Connected World.
- 7. Consumerism and its An<social Effects Can be Turned On – or Off Northwestern University, April 2012 The last experiment presented par<cipants with a hypothe<cal water shortage in a well shared by four people, including themselves. The water users were iden<fied either as consumers or individuals. The “consumers” rated themselves as less trus<ng of others to conserve water, less personally responsible and less in partnership with the others in dealing with the crisis. The consumer status, “did not unite; it divided.”
- 9. 10 Do We Need a New Word for “Consumer”? An inves<ga<on into how customers really feel about the word “consumer” A customer intelligence pla:orm provider that helps companies build communi;es of customers they can use for ongoing feedback and insight. Global provider of life essen<als with leading brands such as Huggies, Kleenex and Pull-‐Ups. Oregon Based grocery chain with 131 loca<ons in Washington, Oregon, Idaho and Alaska. The Players
- 10. 11 How Customers Feel About the Word “Consumer”
- 11. 12 What would Customers really like to be called?
- 12. 13 Stop calling them Consumers!
- 14. 15 Our Customers Are Empowered
- 15. 16 The Customer Revolution is Creating Serious Challenges for Business Declining Revenues Increased Customer Churn Reduced Profits
- 16. 17 Your (Engaged) Customers Are Your Last Competitive Advantage…
- 17. 18 Businesses Need More Complete Customer Understanding Transactional (What customers buy) Social (What customers say) Behavioral (What customers do) Attitudinal & Emotional (What customers think and feel)
- 18. 19 Customer Collaboration Increasingly Important to CEOs 78% 55% 25% 26% 53% 23% 44% CustomersexertmoreinfluenceonbusinessstrategythanallbutC-SuiteItself C-suite Customers Board of Directors Corp Strategy Dept Non-Exec Leadership External Partners Parent Company *2014 IBM Global C-Suite Study
- 19. 20 Vision Critical’s Customer Intelligence Platform Engage the Right Customer… Deep Customer profiles …at the Right Moment Ongoing conversations …in the Right Way Engaging Experiences Customer Intelligence Platform
- 20. 21 Customer Intelligence Platform Delivering Customer Intelligence Across the Enterprise Sales HR Marketing MR Strategy & Innovation R&D BETTER PRODUCTS BETTER SERVICES BETTER BUSINESS OUTCOMES
- 21. 22 True Customer Engagement Delivers Better Business Outcomes Increased Revenues Higher Customer Retention Increased Profits 30%55% 23% *Enterprise Social Collaboration: The Collaborators’ Advantage, Aberdeen Group, 2013 *Gallup Study on Customer Engagement
- 22. 23 “Thanks to our community, we are in a fantastic position to be able to increase sponsorships and fundraising, and to improve underprivileged communities around the world.” “Two-thirds of our community members say they feel more positive about Debenhams since joining the community. It’s great to know that our customers feel more engaged in the business.” “The community helped to redesign our loyalty program as well as increasing customer engagement. The results: loyalty has increased, along with ticket sales and profits.” Increased ProfitsIncreased Revenues Increased Customer Retention Customer Spotlight
- 26. A Personal data Marketplace
- 27. How does it work? Step 1: Aggregate Data
- 28. Step 2: See Data
- 29. Step 3: Sell Data
- 30. Why does it MaGer? • Your data is an extension of your iden<ty, behavior and preferences.
- 31. We are not all the same
- 32. We are all individuals with separate preferences and tastes
- 33. We are producers and consumers, which means mul<-‐sided engagement
- 34. We are individuals seeking a collabora<ve experience Not just voracious consump<on vessels We seek value from our assets in a collabora<ve environment
- 35. Q&A – Please submit your ques<ons in the Chat Area or via TwiGer and thank you! #FromC2C / @SustainBrands