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CRM luxury

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Information about CRM luxury
Education
crm

Published on January 10, 2008

Author: Quintilliano

Source: authorstream.com

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Slide1:  LUXURY GOODS MANAGEMENT 6. E-LUXURY SUMMARY INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide2:  LUXURY GOODS MANAGEMENT 6. E-LUXURY SUMMARY INTRODUCTION 1.1 FACTS AND FIGURES 1.2 PURCHASING PATTERNS 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide3:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 1.INTRODUCTION New technologies (New opportunities,new channels, web) One-to-one relationship (Customer in the center of the reflexion) E-LUXURY Online sales or promotions of luxury products A new tool / action lever for luxury companies 8230 B. Catry Slide4:  1. .1 FACTS & FIGURES 1 The worldwide e-luxury market will offer a potential superior to 2 billion euros before the end of the year 2005. Products related to luxury democratization represent a highly increasing market (e.g accessories), while classical luxury products are less dynamic.( e.g. jewellery) The prospects are very flourishing in the USA on the short run and in Asia on the long run. LUXURY GOODS MANAGEMENT 6. E-LUXURY: 1.INTRODUCTION 8231 B. Catry Slide5:  Internet is now the most influential media in the luxury sector. 44% of customers are strongly influenced by internet (Unity Marketing) Far behind are ads in newspapers with 31%, TV spots with 28% and finally ads in magazines with 24%. The most luxury-open-minded population: 25/55 years old with high revenues LUXURY GOODS MANAGEMENT 6. E-LUXURY: 1.INTRODUCTION 1. .1 FACTS & FIGURES 2 8232 B. Catry Slide6:  Le Marché – Evolution 2005 - 2008 Segment B- Hausse inférieur à la moyenne du marché Segment A - Hausse supérieur à la moyenne du marché LUXURY GOODS MANAGEMENT 6. E-LUXURY: 1.INTRODUCTION 1. .1 FACTS & FIGURES 3 Slide7:  1.2 PURCHASING PATTERNS « It is not the price that convinces customers to buy on line but factors of comfort (no constraint concerning opening hours, time saving, less stress...) The decision is taken online but the “act of buying” is often made off line. LUXURY GOODS MANAGEMENT 6. E-LUXURY: 1.INTRODUCTION Motivations for buying luxury products on the web 8233 B. Catry Slide8:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 2.1 BEHAVIORS 2.2 WEBSITE TYPOLOGIES 2.3 INTERNET PENETRATION IN LUXURY SECTOR 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide9:  2.1 BEHAVIOR OF ON LINE COMPANIES • Pionneers: multibrands pure-internet actors in perfumes or accessories, as Ashford or Bluefly, (elaborated organization, and creation of a new merchandising and customer relationship) • Opportunists: Existing luxury houses of sufficient size to invest on the web. Financial logic (stock actualization) and learning process (familiarization with the internet tool to take advantage of the on-line marketing) - Hermes • Legitimates: Traditional distributors historically having a huge luxury sensitivity (department stores, mail ordering). Coherence with their traditional business and natural assets to succeed – Rush Collection - Sephora • Partisans of the wait-and-see policies : Nearly most luxury houses that wait to see the best practices implemented. Premises of an internet strategy (window or image website) . LUXURY GOODS MANAGEMENT 6. E-LUXURY: 2.ONLINE LUXURY COMPANIES 8234 B. Catry Latest news: Dior, Vuitton online shop Slide10:  Image and institutional sites To ensure a presence on the web by implementing real windows online «Internet is considered as an additional online communication relay». Marketing feed-back sites Knowledgeable data base Newsletters, forums and competitions E-commerce sites Multibrand website of an off-line retailer(Sephora, Rushcollection) Trade gallery (www.ashford.com, www.eluxury.com …) Pure player (Yoox, FashionPrivilège, espacemax.com) 2.2 WEBSITE TYPOLOGIES 1 LUXURY GOODS MANAGEMENT 6. E-LUXURY: 2.ONLINE LUXURY COMPANIES 8235 B. Catry Slide11:  8236 B. Catry Slide12:  B. Catry Slide13:  8238 B. Catry Slide14:  B. Catry Slide16:  Portals et Yearbooks Luxury is being well referenced on the web. We can find many sites of information, yearbooks, portals, etc... dedicated to a domain of this sector... Portals and yearbooks dedicated to professionals are a source of information, a “tool box”  (press reviews, thematic files, enquiries, trends, interviews, job offers) as abc-luxe.com, webdeluxe.com and cyberluxe.com or Osmoz (specialized in perfumes) Portals and yearbooks dedicated to customers as www.style.com/vogue The surfer can consult the e-magazine, the cultural agenda, the economic actuality and luxury directory. LUXURY GOODS MANAGEMENT 6. E-LUXURY: 2.ONLINE LUXURY COMPANIES 2.2 WEBSITE TYPOLOGIES 2 8240 B. Catry Slide17:  B. Catry Slide18:  B. Catry Slide19:  HBJO Cosmétiques Mode Arts Vins et Maroquinerie de la table Spiritueux 2.3 PENETRATION OF INTERNET IN THE LUXURY INDUSTRIES Institutional sites Activity sectors B to C sites Christofle Bernardaud … Liquor.com Chateauonline.com Millesima.com 1855.com Galeriegaultier.com Louis Vuitton Maubousin.com Yoox.com Bluefly.com Rushcollection Hermes LUXURY GOODS MANAGEMENT 6. E-LUXURY: 2.ONLINE LUXURY COMPANIES 8241 B. Catry Vuiton Dior Slide20:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide21:  • Reach the market at the right time. • Guarantee a non-competition with “physical” retail. Adopt a coherent price policy Complementary offer: Some product categories are more easily adapted to e-business (“democratized” luxury products such as accessories...), others have to be sold in shops (“classical” luxury products such as ready-to-wear, jewelry, watch). • Human and logistic organization adapted to the web « Do not reproduce the off-line marketing techniques without taking in account the web specificities» (information spreading speed, no selection of visitors, globality, etc...) LUXURY GOODS MANAGEMENT 6. E-LUXURY: 3.STAKES 8242 B. Catry Slide22:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 4.1 THREATS 4.2 OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide23:  4.1 THREATS Threatened brand image Banalization phenomenon: necessity to protect emotional values and the feeling of inaccessibility Tough competition on the parallel market On the internet the risk of counterfeiting is high... The distribution problem Problem of price standardization for retailers Necessity to separate the delivery of products in geographical areas LUXURY GOODS MANAGEMENT 6. E-LUXURY: 4.OPPORTUNITIES & THREATS 8245 B. Catry Slide24:  Brand: Enables to be worldwide known Positive correlation among countries that produce/consume luxury goods and countries that have developped web technologies. Benefits on brand image: animation technologies allow new communication possibilities, and may thus enhance products’ value. Eg: Montblanc The cost of implementing an online showroom is lower than the cost of opening a new shop (Chanel Ginza). The specificities of luxury products (high costs, few storage needs, high margin) make it the ideal candidate for distant selling. Moreover, high margins enable to cover the special delivery fees providing the customers with a high quality, safe and guaranteed service. LUXURY GOODS MANAGEMENT 6. E-LUXURY: 4.OPPORTUNITIES & THREATS 4.1 OPPORTUNITIES 1 8244 B. Catry Slide26:  4.2 OPPORTUNITIES 2 Distribution Internet as a before-sales channel (attract customers in shops) or after sales channel (making customers loyal) Combine distribution channels Complementary communication channel relaying actions in other channels. ( ex: Louis Vuitton Cup website) Possibility to build a real dialog between the brand and the proactive customer The customers loyalty Excellent support to strengthen the customer relationship Constitution of a customers’ data base in order to better understand customers needs and interests Reaching new niches of customers Niches of customers that had not been considered previously Allows to reach younger customers and to keep them loyal Very soon, elderly peolpe who use the internet will be the priority niche LUXURY GOODS MANAGEMENT 6. E-LUXURY: 4.OPPORTUNITIES & THREATS 8243 B. Catry Slide27:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide28:  Online emotion, or how to make dream at distance Because a proactive customer is more receptive, the internet enables the customers to get deep into the brand universe and to send a stronger message. Eg: Online events: www.louisvuittoncup.com or Rolex (Golf, Sailing...) Different customers have different needs Adapt the supply to customers having specific needs, in order to find out new niches. 1 to 1 marketing: reward the most faithful customers Focus the investments on the most receptive customers (strong attachment to the brand and its values – Life Time Value) as they represent the highest potential. «The most faithful customers are the most profitable» LUXURY GOODS MANAGEMENT 6. E-LUXURY: 5. KEY SUCCESS FACTORS 8246 B. Catry Slide29:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? Definiton Evolution Complete CRM Solution 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide30:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry CRM stands for Customer Relationship Management. CRM is a strategy used to learn more about customer’s needs to develop stronger relationships CRM is a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. Its about increasing the size and profitability of the customer base by creating and delivering value to targeted customers. Slide31:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry Slide32:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry Slide33:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.1 Sales Force Automation Sales people need solutions that make their job easier, to have fast access to data, either online or offline. Sales Managers need visibility into the activities of salespeoples or distributors to see where they stand with their sales. Executives need accurate information so they can evaluate their company’s past performance while looking ahead to the future. eg: DSS Slide34:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.2 Marketing Automation Importance of integrated sales and marketing activities to manage multichannel campaigns and to provide up-to-date messaging to sales thanks to their feed back. To empower the chanel by making the latest versions of collateral available quickly to the Indirect and direct sales force – eg: ELITE To learn which products the customers already own and to target cross-sell campaigns more effectively – eg: Make up case CHANEL Slide35:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.3 Customer Service and support To improve customer satisfaction and keep costs down with multichannel service capabilities – eg: differnet channel for different targeted customers To faster response time, increase first-contact resolution rates, and improved service agent productivity Slide36:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.4 Analytics Sales Analytics - To see who’s selling what and when - To find out which store or department is performing Marketing Analytics - Marketers across the organisation can track multichannel campaigns to be sure to focuse on the most profitable marketing activities Slide37:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.4 Analytics Services Analytics To know the customers and their services needs To identify who’s asking for support, by which channel (call center, online, store) and how long it takes to respond to them Slide38:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 6. WHAT IS CRM? B. Catry 6.5 Custom Application According to luxury sector specificities to company strategy (Direct, Indirect Sales) In order to leverage existing customer, partner in new ways To give right people access to data, regardless of department or role (agents, own store, etc....) To consolided information from differnet departments Slide39:  LUXURY GOODS MANAGEMENT 6. E-LUXURY 1. INTRODUCTION 2. ONLINE LUXURY COMPANIES 3. STAKES 4. THREATS AND OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry Slide40:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 7. CRM & LUXURY B. Catry New luxury leaders are investing in in CRM to: Offer customised products and services (made to measure suits, shoes, bags) Offer exclusive events (launch, opening), personnal shopping assistant (piaget) So: Offer a tailored customer experience, not just exclusive store Slide41:  LUXURY GOODS MANAGEMENT 6. E-LUXURY: 8. THE CHANEL CASE B. Catry American architect Peter Marino 10-story building of 6,100 square 56-metre high building 700,000 embedded light Chef Alain Ducasse and 1,300 square metres restaurant:  American architect Peter Marino 10-story building of 6,100 square 56-metre high building 700,000 embedded light Chef Alain Ducasse and 1,300 square metres restaurant Chanel Tokyo Ginza - its biggest boutique in the world COST:  COST 240 M$ Slide45:  LUXURY GOODS MANAGEMENT 6. E-LUXURY SUMMARY 1. INTRODUCTION 1.1 FACTS AND FIGURES 1.2 PURCHASING PATTERNS 2. ONLINE LUXURY COMPANIES 2.1 BEHAVIORS 2.2 WEBSITE TYPOLOGIES 2.3 INTERNET PENETRATION IN LUXURY SECTOR 3. STAKES 4. THREATS AND OPPORTUNITIES 4.1 THREATS 4.2 OPPORTUNITIES 5. KEY SUCCESS FACTORS 6. WHAT IS CRM? 7. CRM AND LUXURY 8. CASE OF CHANEL 8229 B. Catry

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