The revolution that COVID19 has brought about for electronic commerce has only accelerated changes that were already taking place in the e-commerce landscape. With more than 65% of users willing to buy more and more in digital and with sectors until now they were slowed down accelerating, the importance of having a good strategic approach for this channel should be a priority.
Even in the case of B2B businesses, the importance of this channel has become a critical factor to compete. More than 25% of customers changed providers during this crisis due to not having electronic commerce.
Although we usually think that managing an ecommerce is comparable to managing a street store, the truth is that many concepts change. Specifically, the lack of a physical limit means that a good use of technology and data can be the difference between a profitable or a deficit channel.
Below we detail some of the fundamental keys.
The value proposition and the brand:
- As in the rest of the channels, the brand and the value proposition are the reason why a user buys from us and repeats. In digital this is a task that requires precise technical skills (SEO, Marketing, Analytics ...). In return, digital allows us to adapt the value proposition to each potential client and extend it even outside the limits of the store.
- Another concept that changes is that ecommerce customers will not enter through the main door (home). If we have done the technical work well, each client will find and enter the section / product they were looking for. This turns the content, the information architecture and the navigation strategy into the keys to improving conversion.
- The technology also makes it possible to simplify the volume of both products and content and provide the right experience for each customer segment, improving the experience and conversion.
The role of technology.
- With the growth and naturalization of ecommerce, standardization has become a fundamental trend. Customers expect to be able to browse your store in the same way and with the same resources as on Amazon, on Instagram or Facebook. And this goes far beyond the browsing experience, in fact in our last report more than 70% of the respondents declare that they expect the same experience that they currently have with Amazon.
- This has reduced the complexity of the front-end technology with the growing relevance of Saas platforms (Salesforce Commerce Cloud or Shopify) and yet it has forced the reinforcement of the technological layer of data (CDPs), marketing and processes (Customer service, logistics, traceability , ...) and integration (ERPs, Marketing Solutions)
The management of customers and clients as a fundamental asset.
- Finally, something that has been maintained since the 80s is that the most profitable customers are the customers who have already bought from you, and that the key to the profitability of the business is in the "second sales".
- Customers are aware of the trace they leave and expect us to treat them in a relevant and personalized way. For this we must guarantee that we take advantage of and activate the knowledge that these already clients have left us and here technology is also a help.
- Marketing automation tools to improve response times and continuous communication.
- Analytics tools to find similar customers and anticipate their needs.
- Subscription service models with discounts based on Life Time Value indicators.
- Loyalty and engagement program.
In short, the acceleration of electronic commerce (demand and competition) forces business strategies and approaches to escape from operational simplifications. "One more store" and on technological complexities, concentrating, however, on the work on the value proposition and the contents and taking advantage of the most important asset of the business, which are the current clients.
The end 2 end vision of The Cocktail and being partners of the main technological solutions in both the Ecommerce and Martech levels allows working on project approaches completely focused on results.
- Digital sales acceleration plan in 100 days.
- Optimization of own and third-party digital sales channels: Ecommerce and Marketplace.
- Growth hacking.
- CRO and Behavioral Economics Design.
- Implementation and operation of Marketing automation tools.
- IA applied to business processes: improvement of profitability ratios through improvements in marketing processes , promotions, logistics and collections.
- New business models and customer relations: customer communities, subscription models and loyalty plans