How collec)ng the right social data can help you develop richer, deeper connec)ons with your customers
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1 + FullContact Alexis Costa Fossil Marketing Director Bart Lorang FullContact CEO and Founder How collec)ng the right social data can help you develop richer, deeper connec)ons with your customers
2 Fossil Case Study Introductions Knowing your customers is more important than ever Fossil is turning new customer data into actionable insights Our Journey Q&A 2
3 Alexis Costa Alexis Costa Marke&ng Director Alexis Costa is the Marketing Director over Fossil, Skagen and Michele media efforts at Fossil Group, Inc. In this role, Alexis leads a team and oversees all aspects of paid media campaigns including traditional media, digital media and social media. When Alexis came to Fossil in 2013, there was no paid media team. Starting as a team of one, Alexis created a new group and defined campaign direction and process globally for all Fossil Brand advertising campaigns. Alexis has a well-rounded background in the advertising and marketing industry with over 10 years of experience across agency, publishing and client businesses. 3
4 Bart Lorang Bart Lorang bootstrapped and sold his first two technology companies (at 16 and 29 respectively) and launched FullContact just a few years later in 2010 where he now serves as CEO. Bart has since grown the company to over 200 employees across 4 offices. Bart has unique insights into the latest trends and technologies available to brands and how to leverage data to be awesome with customers. In addition to founding FullContact, Bart serves as Managing Director of v1.vc, a $5M seed stage fund dedicated to helping entrepreneurs change the world. He has been recognized as an Ernst & Young Entrepreneur of the Year Finalist and Colorado Technology Association s Technology Entrepreneur of the Year. 4
5 The one who understands people better is the one who wins. Simon Sinek Author and Speaker DMA &Then
6 At Fossil, People Matter We design experiences that make people feel something. A little happier. Or a little more connected. We care about the things that matter: our people, our communities and our planet. And in everything we do, we re innovators we re out to make the biggest impact that we can, in the way only we can. 6
7 So what is wrong with a transaction view of customers??? TRANSACTION The Shops at Park Lane 8050 Park Lane Dallas, TX February 16, 2016 Store #19 Reg #23 Tran #1493 brand follower? social engagement? interest? location DALLAS TEXAS? brand mentions shopping visits 4 ITEM AMOUNT Women s Blouse Navy # Compare at Leather Wallet Black #32231 Compare at $39.97 $ tweets? social segment keyword?? Total Nordstrom Store Card (*********2467) $59.94 (59.94) last purchase 12 mo. sales $783 gender FEMALE followers? klout score? name SUSAN MITCHELL 7
8 What worked in the past is no longer sufficient 80% of consumer facing companies do not understand their customers beyond basic demographics and purchase history 8
9 Digital Identity Provides a Valuable Unlock customer centricity places a premium on fully connecting Social IDs & Profiles Reach & Influence Brand Engagement Competitor Engagement Lifestyle & Product Affinities Psychographic Traits Life Stages & Events Media Properties 9
10 portfolio engagement TOYS R US travel DISNEY CRUISE brand brand mentions 6 social engagement #MOMLYFE WHOLE FOODS shopping visits 4 Meet Susan AS A WHOLE PERSON tweets 696 media PARENTING MAGAZINE keyword TOYS brand competitor LEGO HASBRO affinity FAMILY 3-year spend followers $ name SUSAN MITCHELL 10
11 Harnessing the Power of Digital Customer Data the challenge is real with such vast and diverse data available to consume 640,000+ GB OF GLOBAL DATA TRANSFERRED 204 MILLION 72 MESSAGES SENT HOURS OF VIDEO UPLOADS what happens in an internet minute 20 MILLION PHOTO VIEWS 3,000+ PHOTOS UPLOADED $83,000 AMAZON SALES 1.3 MILLION 320+ VIDEO VIEWS NEW TWITTER ACCOUNTS 340,000+ MESSAGES SENT ON SLACK 10 MILLION 100,000 ADS DISPLAYED NEW TWEETS 61, ,000 HOURS OF MUSIC LISTENED APPS DOWNLOADED 8,300+ VIDEOS SHARED 277,000 FACEBOOK LOG-INS 6 MILLION FACEBOOK VIEWS 2.4 MILLION SEARCH QUERIES 830,000+ DROPBOX FILES UPLOADED 20 MILLION INSTAGRAM UPLOADS 11,000 LINKEDIN SEARCHES 11
12 Turning new data into customer insights Fossil is responding to the challenge: Integrating new digital customer data (from social, IoT, others) Developing new customer insights Building internal capabilities to apply new insights (Alexis' team) 12
13 Consumer Centric Insight Model Fossil embarked on a journey to understand their customers better as a key enabler of a customer-centric approach to create distinctive experiences. Watch Market Fossil Fanatics Fossil Faithful Handbag Market Fossil used FullContact social insights as an overlay to marketing research & segmentation to bring Fossil Smart Watch Market Mall Misers Outlet Deal Seekers consumer insights Budget Gifters Timely Gifters Spendy Selfies Apparel Market customers to life by further understanding their interests outside of Fossil interactions. 13
14 Meet Karen A Fossil Fanatic to friends and family As a Fossil Fanatic, Karen is the ideal customer at Fossil. She appears to be a mom in her late 30 s that leans towards moderately upscale brands like Michael Kors, Nordstrom and Coach. She might read publications like Elle Magazine and shop at Whole Foods. She is fairly active on social media and it is not uncommon for her to engage Fossil on Facebook, Twitter or Instagram. On the product side, watches are top of mind with Michael Kors and Fossil as key brands. Suggested Actions Follow Back on Twitter Social VIP treatment Target her with join us on social s Michael Kors portfolio engagement Etsy brand Coach competitor Fossil brand follower 696 tweets 37 age Refinery29 blog Nordstrom brand 3 categories shopped KAREN MITCHELL name Anthropologie competitor Princess Cruises travel Elle Magazine media $894 3 year spend KIDS keyword 1 brand mentions Facebook network #ArtKNB keyword Whole Foods brand 4 shopping visits followers
15 1% Top 1% of customers Example: Fossil Fanatics 34% 25% 20% 9% 9% 2% 2% brand engagement Fossil Competitors Wholesale Portfolio lifestyles Fashion and Style Travel 79% female 50% opt in 3% influencers Authentic Sports Enthusiast Luxury Brands location product categories Watch Collectors Apparel Crowd Handbag Divas Jewelry & Charm Club Tech Accessories 15
16 Turning customer insights into action After learning more about our customers, Fossil is testing & learning to: Leverage audience psychographic insights for smarter paid media planning Incorporate customer lifestyle & interest data into audience targets Drive more engaging content and stories across organic and earned social 16
17 Campaign Planning Data-driven customer insights used for strategy & campaign tactics Strategy Campaigns Customer personas Psychographic insights Lifestyle & interest data Smarter paid media planning Content that resonates with key customer segments 17
18 Customer File Campaign Planning Smarter prospecting drives better acquisition Best Customers Best Customer DNA marker (Ex: over-index for Wearables brands) Targeted Custom Audience 18
19 Holiday Influencer Campaign Driving smarter storytelling for paid, owned + earned 19
20 The Journey 20
21 Moving Forward Continue to test and measure new customer insights across digital channels Questions? 21
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