The world of retail is changing paradigm, the way people shop online fundamentally changing Business News

Business Reporter: How to Adapt to the Changing Ecommerce Landscape

Ed Bussey, Director of Solutions and Matt Wurst, Vice President of Client Management, Astonished

The world of retail is changing paradigm, the way people shop online is fundamentally changing. Search engines, marketplaces such as Amazon, and social media such as Facebook are increasingly offering shopping alternatives to traditional e-commerce sites. Ultimately, these platforms will be the dominant engines of online commerce.

The key to winning is the content. Content has always been king, and in this fragmented and decentralized world of commerce, its value is even more acute. A brand’s content is increasingly its only way to connect with consumers across this ever-growing list of channels and platforms.

The challenge

What passed for a respectable ecommerce strategy a few years ago will no longer deliver the desired results as consumers turn to platforms where brands have less control over their relationships and customer data.

To avoid losing market share, brands need to establish and optimize their presence on these platforms, using content to capture attention and trigger consumer action. All this while competing for importance, not only with other brands, but with all the other distractions within these environments.

The opportunity

While failing to address these challenges can be catastrophic for a retail industry already under immense pressure, the growth opportunities are enormous for retailers who are adapting quickly. Digital platforms allow them to tap into new out-of-the-box demographic and geographic audiences, where platforms have often already borne the brunt of user acquisition costs. The challenge for the retailer, in this context, is to be present on the most relevant platforms and to engage optimally with the audiences there. But how do they do this?

1. Create a new plan

The rapidly changing digital landscape demands a whole new model of customer acquisition and retention, with new strategies, tactics and skill sets for content creation, distribution and measurement. Retailers cannot be on all platforms, so the starting point is to understand which platforms their audiences use and how they use them, based on an integrated view of the entire digital landscape, rather than perspectives. partial and partitioned on individual platforms. Only then can they properly prioritize and maximize the efficiency of their budgets.

2. Unlock the potential with optimized content

The presence of a platform is as good as the content used to optimize a retailer’s discoverability and impact on that platform. Content is the key to unlocking the potential of platforms. However, since each platform relies on different use cases and algorithms (think Amazon’s performance versus TikTok or Facebook), the challenge is to find the right formula to fit your content for each. Strategic partnerships with these platforms can help, allowing retailers to look under the hood and see how they operate.

3. Extend the range with the scale

In this decentralized landscape, retailers need to spread their budgets further, amplifying the reach, and therefore the ROI, of their content. The trick is to tailor their content, at scale, for each of their international markets, and at every stage of the buying journey – from the first media a consumer can see, to product content before they buy. which will persuade them to buy.

Maintaining content quality at scale, whether in-house or through traditional agencies, was a challenge when retailers only had to worry about their e-commerce websites. This is now completely impossible in today’s dispersed digital landscape. The solution is to combine human creativity with efficiency-generating technology that can perform the long, repetitive elements of the content creation process. For example, Jellyfish’s global network of over 10,000 skilled content creators can deliver five million words of content per month because it’s powered by technology that streamlines the content creation process.

4. Focus on performance

A relentless focus on measurable content performance is the last pillar of success in the fragmented platform landscape. Continuous measurement and optimization, based on a perpetual feedback loop, not only improves results, but remains relevant in the face of the unprecedented rate of change in the market. It ensures that content moves the needle on crucial retail KPIs, such as product page conversion rates, number of visitors or lawyers, cart sizes, or product return rates.

The new digital landscape may seem daunting, but these are exciting times with vast opportunities for brands to deepen their relationships with their existing and new customers by engaging with them in a plethora of new ways. And in many ways, this is nothing new. The brands have been optimizing the merchandising of their products in shopping centers for years. They are right…

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This notice was published: 2021-08-04 09:02:37

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