Jack Dorsey's View on Personalization and Physical Storefronts
How retailers can use technology to help facilitate more in-store traffic was a popular topic at this week's National Retail Federation Big Show in New York City. From Matt Marcotte, senior vice president of global retail for Tory Burch, discussing customer centricity to David Gilboa, co-founder and co-CEO of Warby Parker, sharing how technology has enabled the brand to personalize its storefronts, there was a general theme that while technology integration is great, retailers have to remember it's meant to be used as a tool for success, not as an entire retail strategy.
In a keynote presentation yesterday at the show, Jack Dorsey, co-founder of social media giant Twitter and CEO of of mobile payments app company Square, explained how mobile payments are helping retailers to become more personal with their customers by being mindful of consumer privacy and developing personal experiences. Dorsey touched on Square's "Let's Talk" campaign, how to bring customers in-store and delivering a cohesive brand experience during his hour-long presentation.
Personalization
While there's lots of technology to help facilitate sales, Dorsey believes that "just being human" is the No. 1 way to drive sales, not matter what size business you are.
"I think one of the most generous things you can do is to recognize a consumer as a person," he said. "It's not conceptual, it really works. Starbucks built a great business because it asked baristas to ask the name of their customer. Just being human really works. It's simple, it works and it inspires a sense of loyalty more than any points system or piece of technology."
"Let's Talk" Campaign
Over the last year, Dorsey has visited various cities for Square's "Let's Talk" campaign, an open forum for business owners to ask questions and discuss solutions on how technology can help them get their businesses off the ground and maintain relationships with customers.
"We have a responsibility to our community to help them, not only with the technology, but to ask what we can do to help and what can we do to improve their product for a better experience," said Dorsey.
In addition to answering questions from the Big Show audience (HSNi CEO Mindy Grossman moderated), Dorsey promoted the value of having a brick-and-mortar location.
"There's a real asset in having a physical storefront," he said. "What technology can do is make that more efficient to connect a customer to a product or service."
The Untapped Commerce Medium: Receipts
"You give these receipts out by the thousands if not millions every single day; how do you make them viable unto themselves?" Dorsey asked.
Dorsey noted that by making the receipt a point of personalization, he was able to help co-create Square and gain means to help understand his customers. In addition, the idea of looking at the receipt in a new light helped spur the idea of the Square Wallet app, which enables one to pay for purchases without taking out a credit card. And the receipt is stored on the app, enabling a VIP experience, Dorsey said.