Every experience must be shoppable for businesses
Digital commerce is the future of business for thousands around the globe, as COVID-19 makes life and work easier.
Industries that relied on customer interaction and in-person sales are now scrambling for digital solutions.
Companies of all sizes have the opportunity to reach existing customers and make every interaction a shoppable experience. Executives at the Adobe Summit digital keynote spoke of how people “buy experiences, rather than products” as a guideline for businesses of all sizes.
” Every customer has an experience, [businesses] want the ability to help customers in that journey,” Anil Chakravarthy (executive vice president and general manger of digital experience at Adobe) said in a “fireside conversation” with Jason Woosley vice president of commerce at Adobe.
Woosley spoke before about the importance to make every experience memorable and easily shoppable.
He said that experience-driven Commerce is what he described as a way for brands to increase revenue, order value and customer lifetime value.
Chakravarthy was the chief executive of Informatica before joining Adobe. Informatica is an Adobe partner and leader for enterprise data management. He developed a digital experiences strategy.
First, businesses must evaluate customer data to determine the insights and insight required to implement a digital strategy. To form an informed strategy, data should include customer profiles as well as the history of transactions and interactions.
Chakravarthy stated that the second component uses this information to create a data driven operating model (DDOM). to track customer journeys through the phases “discover, buy, try, use, renew.” Every customer is on that journey.”
A strategy to mix commerce and content is essential for every stage of the journey. This strategy is the third component of a winning strategy. Commerce-driven content includes not only a website or mobile application, but also a strategy that personalizes the experience for each platform.
Chakravarthy stated that businesses must consider “how to make each experience a commerce experience, and make every experience shoppable.”
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These strategies are even more important for businesses that have lost their traditional sales channels due to the coronavirus. Global health officials have advised people to stay at home while many government officials in various regions have forced businesses to close down as part their “social ditancing” policies.
Chakravarthy stated that “e-commerce is about a lot of customers moving to a new digital-first economy.”
He made a distinction between two classes of customers. Those who have an ecommerce presence are now more important than those without one. Those that don’t have an ecommerce presence historically have had to go online.
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