5 Consumption Behavior Concluded in 2018

The consumption behavior and habits are changing, due to the CRM technology. The CRM system brings mobile payment, online stores, and internet finance, which magnifies the purchasing power of the Chinese.

Accenture, leading global professional services company announced a report ‘’2018 Accenture China Consumer Insight”. It indicated that when, where and what became the main considerations when buying. Price, quantity, quality, and trademark were less important. The report summarized five major trends in consumer behavior.

 

 

1.Two Line Buying

 

Online Shopping?  Traditional stores?  Cheap? Convenient?

For retailers, these two binary oppositions were the dilemma. Today, the two are gradually forming a balance, from opposition to integration.

The report said that as shopping prices became more transparent, price comparisons were more and more popular. Half of the people said that they often used their mobile phones to compare prices when buying in the store. 45% said they often used websites which provide discounts information to locate cheaper prices. People realized that time is money while the comparisons. More than half of consumers believed it was worthwhile to spend money and time. They were willing to spend the time to compare the differences between online stores and traditional stores.

Online shopping and traditional stores were no longer in the opposite.

 

 

2.Shopping Socialization

 

Consumption BehaviorConsumption Behavior

 

The report showed that nearly 90% of consumers have their own social circle on Facebook, Twitter, Wechat and etc. Social media had a strong influence on consumption behavior. Sharing and recommendation posts stimulate the purchase interest. According to the report, Food, travel sports and fitness were the most concerned topics among social media. 87% of consumers were happy to share their purchase experience and comments. Most people believed the recommendatory products from their friends on social media over advertisements.

 

 

3.Focus on Shopping Experience

 

59% of respondents believed shopping was not only about commodity, but it was also about the experience. Many had positive feedback on participatory commerce, which allowed shoppers to participate in the design, selection of the products they purchased. 64% believed that participatory commerce helped them to buy the products they wanted. 53% said that they like a brand because of the good shopping experience.

 

 

4.New Consumption Behavior: Fitness Consumption

 

Sports and fitness is the latest lifestyle, also a huge potential market.  Chinese had a higher budget for purchasing sports products and fitness services. This new lifestyle changed consumption behavior and habits.

In addition, “sports + new technology” had gradually become a combination of sports consumers expect. 44% of consumers expressed their visions on AR/VR technology. They wished the technology would be applied in the field of sports and fitness. 41% of consumers hoped that artificial intelligence and internet would be widely adopted in sports and fitness assistance. 29% of consumers hoped that outdoor sports products could also able to be shared. For example, the shared bikes.

 

Consumption Behavior

 

 

5.Embrace the Sharing Economy

 

Nearly half said that many products were rarely used after they were bought, and more than 60% of them had experience on second-hand trading platforms. They hoped those products could be shared. Sharing economy is unstoppable.

 

 

Consumption behavior changed due to the CRM Big data technology.  Enterprises need to adjust their marketing scheme to meet the new demand of the customers. WeChat promoted WeChat pay, a mobile payment application widely. It made a huge success in China.

 

 

Other articles:

 

How Big Data Change Journalism?

CRM System, Improved and Evolved

Social CRM: Game Changer

Big Data Analysis-CRM Big Data

Big Data Analysis- Collection

 

 

Extended reading:

 

Understand your customers better with big data

Will Big Data Finally Turn CRM Into Something Truly Valuable?

What Is Social Marketing? And How Does It Work?

數碼營銷, 先行者星巴克

坊間大談”數碼營銷” (Digital Marketing),大、中、小企業的市場推廣預算都從傳統廣告中cut budget,將愈來愈多的錢花在數碼/數位營銷上。看到這裡,或許你會說,這個我知道啦!不過,你或許不知道的是,”數碼營銷”連結”會員制度”(Membership Policy)和”手機程式”(Mobile App)可以達到一個怎樣的驚人果效。讓我用星巴克咖啡連鎖店(Starbucks)的個案述說這種”會員數碼營銷手機程式”可以產生的強大威力。

先給你一些數字作為參考:截至2017財年第3季度,美國星巴克30%的交易是通過App進行支付的。而且,使用App的用戶在Starbucks的消費是普通客戶的3倍。在2018年3月份的摩根大通論壇上,星巴克首席財務官Scott Maw表示,公司幾乎所有的同店銷售增長均來自與該公司建立數碼營銷的客戶以及星巴克獎勵計劃中的客戶。

眼見有這樣的實戰結果,香港星巴克(Starbucks)在2017年3月推出”Mobile Order & Pay”手機程式功能,讓顧客可透過手機程式預先訂購,成為全港首個結合數碼營銷、預訂服務、流動付款技術及會員獎賞計劃的零售App。

事實證明,新的手機支付系統是十分成功。Starbucks在數碼營銷的巨大成功,主要有兩大因素。

 

“數碼營銷”與客戶忠誠系統掛勾,培養豐富互動(engagement)

 

App建立了一個豐厚回報的會員獎勵系統,每次購買都有直接”星星”作為獎勵。星星收集一定數量後可兌換免費飲料、免費補充和飲料升級。App更對會員提供了挑戰活動,讓用戶贏得額外的”星星”。客戶需要每次掃描他們的獎勵卡,以記錄他們已獲得的獎勵。獎勵計劃為用戶提供了許多重好處,例如每消費一美元賺取兩顆星,限時會員優惠/活動、生日的免費飲料等。  為了鼓勵會員使用他們收集的星星,星星設有時限,即將失效的星星,系統會主動向會員發送通知,提醒客人使用以免錯失優惠,這個Alert System有效增加客人的重訪率(Revisit Rate)。 截至2017年8月,手機的會員忠誠系統帶動了36%的銷售額 ,2018年第二季度整體用戶增長了11%。

數字營銷

 

Starbucks還投入大量資金使用數碼渠道了解客戶信息。Starbucks使用社交媒體”傾聽”(Social Listening)他們的客戶和挖掘數據,以了解其目標客戶的更多信息。

早在2008年,他們就建立多個社區網站,以收集客戶的想法,建議和反饋。今天,Starbucks正在繼續思考如何使用他們的數字平台來提高客戶忠誠度並增加收入。他們將移動平台App擴展到支付和獎勵之外,還包括訂購功能和個性化設定,令用戶保持參與和通知。

Starbucks添加了個性化元素,讓App記錄用戶最近的訂購記録,並根據訂購記録分析會員的喜好,按此自動推送可能合適的食品建議。App還會記録會員所處的地理位置功能 (GPS) ,用戶可以看到最近的星巴克位置,每個位置的星巴克菜單,用戶亦可以透過App下訂單。

 

“數碼營銷”提供便利Mobile Payment服務

 

Starbucks於2015年在美國全國推出”Mobile Order & Pay”,目標是通過提前訂購功能繼續提高銷售額。起初,手機訂購和支付的增長令客戶購買時引起了商店內部的一些擁堵問題。Starbucks 迅速回應,為App的訂單增設專用工作站,並為咖啡師提供新的平板電腦。App允許客戶通過語音命令進行訂購,提高速度和便利性。 QR CODE付款功能也使用戶以最方便快捷的方式訂購和支付。

 

數字營銷 2

 

Starbucks提供既有吸引力又創新的用戶體驗,使用手機應用程式和手機支付的連串成功引來其他同業的爭相仿傚。2017年,麥當勞宣布推出App應用程序,Dunkin’Donuts,Chick-fil-A,Domino’s,Taco Bell和Walmart亦相繼加入,同樣包含預訂功能,試圖打破Starbucks在數碼營銷的獨大。

2018年初,Starbucks和摩根大通合作,開始提供Starbucks獎勵Visa卡,這是一種聯名信用卡,直接結合到Starbucks獎勵計劃中。使用該信用卡的客戶可以在Starbucks門店內外的每次購買中獲得額外星星。

Starbucks 在數碼營銷的成功可否複製? 可以!但App上的設定要與會員忠誠度(Member Loyalty)和激勵計劃(Incentive Program)緊密相關。而且令消費者很快就看到了手機App的價值、好處和支付的便利性,並養成了通過App支付、落單的新習慣。

看到這𥚃,若你的公司已經有採用會員制度,it is good but not enough anymore,手機程式結合數碼營銷是你必須行的下一步!

 

 

 

 

其他大數據銷售故事:

大數據銷售-比顧客自己更了解顧客(下)

大數據分析-比顧客自己更了解顧客(上)

大數據行銷-是捕捉客人的真命天子?

客戶關係管理-邂逅大數據

從粉底說數據行銷

數據行銷第一步

 

延伸閱讀

Understand your customers better with big data

Will Big Data Finally Turn CRM Into Something Truly Valuable?

What Is Social Marketing? And How Does It Work?

 

How CRM System helps to be a Giant in Online Retailer?

The future of retail and service industry bound to CRM Big Data. The profit is promising. However, it requires a custom and automatic CRM system to carry out marketing activities.

The Taiwan Non-Store Retailer Association held a “Non-Store Industry” forum.  The former executive Dean Zhang Shanzheng said that the future of the retail industry rely on big data and artificial intelligence. CRM Big data understand the preferences and interests of customers, which is the key to success.

Let me share the experience of Amazon.

CRM system

 

 

One-Click Buying, First Step of Managing Big Data

 

 

One-click buying is the technique of allowing customers to make purchases with the previously saved payment information. It does not require the shopping cart software. Users have no need to input billing information such as address every time. Instead, users can purchase with the predefined credit card and delivery address. This is quite simple and common these days, but the concept was not popular back in 20 centuries.

The technique was introduced in late 20 centuries. Amazon applied for the patent of one-click buying in 1999. Apple purchased the license from Amazon in 2006. The patent was finally expired in 2017.

Amazon.com is guidance in collecting, storing, processing and analyzing personal information from every customer. The One-Click Buying allows Amazon saving a large amount of customer’s data and purchase history. They analyze the data to capture the customers’ profile.

They use predictive CRM system for targeted marketing to increase customer satisfaction and customer loyalty. Big Data is being adopted in the CRM system, which helps Amazon evolve into a leader among online retail stores.

 

 

The Features of CRM System

 

 

Recommendation

 

Amazon developed a CRM system which included a personalized recommendation system. The system analyses purchase history, wish list, reviewed, rated list and search history. The purpose of the system is to recommend other products, which mostly related or interested the customers.

For example, if you add a DVD movie to your online shopping cart, other DVD movies will also be recommended. This feature generates 35% of the company’s sales annually.

 

 

Anticipatory Model

 

Amazon added a new module to their CRM system. Amazon’s anticipatory shipping model use big data for predicting customer’s most interesting products. It predicts the revisit time and when the customers might need the products. Those products delivered to a local distribution center and warehouse, therefore, they would be ready for shipping. It increases Amazon’s profit while decreasing its delivery time.

 

 

Price Optimization Module

 

The module monitors user’s activity on websites, competitors’ pricing, order history, expected profit margin and etc. Prices are set according to the above factors. Prices change every 10 minutes as big data is updated and analyzed. As a result, Amazon offers the best competing discounts on their hero products.

 

 

Remember, One-Click Buying and the CRM Big Data concept introduced in the ’90s. It is 2018 now and if you did not invest in the CRM system, you should better get on with it ASAP!

 

 

Other articles:

 

How Big Data Change Journalism?

CRM System, Improved and Evolved

Social CRM: Game Changer

Big Data Analysis-CRM Big Data

Big Data Analysis- Collection

 

Extended reading:

 

Understand your customers better with big data

Will Big Data Finally Turn CRM Into Something Truly Valuable?

What Is Social Marketing? And How Does It Work?

Facebook and Big Data Insights

Facebook live is a new addition to the social networks. It allows users to record videos and broadcast live to friends and followers. Although the live broadcast is not a brand-new thing, it receives huge success in Facebook. The database of Facebook is enormous and outstanding, which brings valuable big data insights.

 

Facebook, Big Data Algorithm

 

big data insights 2

 

There are over 2.27 billion monthly active Facebook users for Q3 2018. (Source: Facebook 10/30/18). Facebook is the world’s most popular social media with more than two billion monthly active users worldwide. Facebook stores large amounts of data. It’s predicted that there will be more than 170 million Facebook users in the United States by 2018. Facebook is too big to ignore.

 

There are thousands of posts that might be displayed in the user’s News Feed. The algorithm analysis these posts and arranges their order according to the preference and relevance of users. The Facebook algorithm is constantly improving, in order to provide a good experience for users. Facebook prioritizes posts from family and friends over public because they treasure the connection of person to person.

 

Facebook, Big Data Insights

 

Every activities and engagement such as clicking, browsing, like, sharing, follow and etc. They are being collected and monitored by Facebook. Those data became valuable assets of the big database. The big data analysis produces insights. Insights can accurately foresee the user’s interests. Therefore, we can always see the most related post up front. Facebook live apply the same mechanism. In the News Feed, those videos we interest the most will be prioritized.

 

The emergence of Facebook Live has made the “personal TV station” no longer an obstacle. Everyone with a Smartphone can manage their personal TV channel. Facebook tracks its users by cookies. If a user is logged into Facebook, Facebook can track every site they visited. Facebook grasp the technology of facial recognition which presents its skills in photo tagging and image management.

 

 

 

big data insights 3

TVmost and Facebook

 

TVmost anniversary award broadcasted live on the free TV network ViuTV, which announced the cooperation between online media and traditional media in content and distribution. The TV online station owns over 7 hundred thousand followers on Facebook. It is a big asset to TVmost. All it has to do is a one-time authorization from fans. It allows TVmost to access fans’ Facebook profile and personal information such as gender, age, location, and ETC. The insights it brings assist TVmost to understand the interests and the characteristics of fans. It benefits TVmost to strengthen their digital marketing services.

 

The success of Facebook live and TVmost emphasizes the importance of Big Data insights. It helps to improve the customer experience and customer loyalty. Adopting of Big Data solutions helps analyze customer interests and consumption behaviors across multiple channels to determine when, where and how customers are most likely to buy.

 

Other articles:

 

Social CRM: Game Changer

Big Data Analysis-CRM Big Data

Big Data Analysis- Collection

 

Extended reading:

 

Understand your customers better with big data

Will Big Data Finally Turn CRM Into Something Truly Valuable?

What Is Social Marketing? And How Does It Work?

Social CRM: Game Changer

Customer Relationship Management System (CRM) is a system to manage current and potential customers. It usually makes use of the incentive program and membership program to attract customers, thereby enhancing revisit rate and customer loyalty. The system collects data from members and customers to conduct big data analysis. Today it isn’t enough! You have to collect the ‘’Fans’ ‘data as well. We call it Social CRM.

 

Social CRM

Social CRM-Fans to Customers

 

‘’Fans’’ is a new keyword which emerges in recent years. Fans are potential customers who have interest in the products or services. The keyword “fans” is closely related to social media. Many merchants start running their own Facebook, Twitter, YouTube, We Chat and etc. Social media allows footprint collection and interaction with fans. You can engage with fans and ‘get likes’ to increase loyal customers.

 

Social CRM: Low Conversion Rate?

 

Just recently, I was invited to ’like’ and ‘follow’ a Facebook page by a restaurant. As a return, it offered a cocktail for free. I believe everyone shares the same experience right? Shops offer discounts to induce fans on Facebook, and most people will do that. However how many of you un-follow the Facebook page afterward? The promotion is effective but only work for a while. Only a few fans will keep following the Facebook page. Therefore, the conversion rate is low while the cost can be quite expensive.

’Content’ and ‘engagement’ is the foundation of Social CRM. Fans may leave you once they found your content not interesting. Continued engagement is more important than discounts. Instead of spending money to offer discounts, it is more effective to spend resources to enrich your content.

 

Social CRM-Big Data

 

Social Marketing is the trend of the times. Many enterprises reduce traditional media advertising and spend more resources on Social Media. They made videos, info-graphic, text to interact with fans. Fans and visitors response and sometimes even engage with you.

Those engagements from fans are valuable data, which represents the consumption behavior and preference. Don’t waste them! What you need is an automatic CRM system which allows data analysis, data collection, continued monitoring and prediction. Like Google Ads, they collect your footprint and cookies on internet, analysis and then deliver related advertisements. If you search shoes on the internet then you will most likely see a shoe advertisement on Facebook.

Social CRM allows enterprises to engage with fans and customers across multiple channels. This is precious because it understands of customer needs more effectively than more marketing research ever could. Social CRM is redefining customer relationships management and also reshaping long-standing business processes.

 

Other articles:

 

Big Data Analysis-CRM Big Data

Big Data Analysis- Collection

 

Extended reading:

 

Understand your customers better with big data

Will Big Data Finally Turn CRM Into Something Truly Valuable?

What Is Social Marketing? And How Does It Work?