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sifat
Feb 14, 2022
In Get Started with Your Forum
What does ‘commerce everywhere’ means for the relationship between commerce and marketing? How can reviewing commerce platforms along with martech reduce time-to-value? And how can brands knit together backend and frontend to drive lifetime value? Edwards backs up this prediction with research from Content Square, which found that 92% of surveyed retailers said that their online experience (i.e commerce platform or site) was either ‘satisfactory’ or ‘very satisfactory’. But in contrast to this, from a group of consumers purchasing from those same websites, just 15% agreed. “There is a massive difference in opinion Philippines Photo Editor between what marketeers believe they are offering their customers and ultimately what they are,” says Edwards. “I think if we are to deliver unconscious commerce, we have to overcome a little sense of arrogance and complacency and the ways that we can do that.” Edwards references B&Q as an example of a brand that executes ultra convenience for customers. “B&Q created 8,000 SKUs that you could buy the day before to be click-and-collected at a local shop the following day,” he explains. “Now that level of agility and speed makes shopping easier.” Interestingly, however, Edwards says that it is possible to go further, making the statement that the ultimate frictionless purchase is voice. “I think, in the next two to three years, all of us will be doing so much more with voice,” he says, “and that’s where truly unconscious purchase happens, especially if you’ve got a shopping list and you’ve run out of tea bags, you just say “more Yorkshire tea please.” It’s that level of simplicity of purchase that’s going to change.” Winning in a world of marketplaces Finally, Edwards cites another rising trend that he predicts will become even more crucial to ecommerce strategies going forward: marketplaces. “About 50% of all online sales are now done through marketplaces,” he says. “If you don’t have a marketplace strategy as a brand owner, you are in all sorts of trouble because that is only going to grow. Walmart and Target in the states are in the space, Shopify app have now create their own marketplace.” The question, naturally, is, “how do you win as a brand in the marketplace world?” Edwards returns back to the point about people not looking for brand, as such, but instead looking for products, “or pragmatic solutions to problems.” “So you have to have, as a brand, a visible space to make your presence meaningful. Make it personalised and make it relevant, otherwise you’ll suffer. From the marketplace perspective, recognise that it is going to grow, but make sure your brand is powered, famous, wanted, relevant, and then use data to power that conversation.” To find out more, watch this session from the SAP Together Works Summit, part of Econsultancy Live, featuring SAP’s Payal Hindocha, Director, GTM Solutions, and Rupert O’Halloran, VP Commerce Marketing and solutions.
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sifat
Feb 14, 2022
In Get Started with Your Forum
Matthew Gonnering is the CEO of Widen, a digital asset management (DAM) and product information management (PIM) solutions company. We recently caught up to find out more about the future of martech in Widen’s category and Gonnering’s experience working for the business, including his self-branding of ‘chief eudaimonia officer’. How does a DAM solution fit into a wider omni-channel strategy? What can it help brands to achieve? DAM and product information management (PIM) is the centre of the content universe. When digital assets and product information are centralised and used to power the rest of the marketing technology (martech) stack, brands get products to market faster, they are consistent across channels, and they understand where content is working and where it’s not. That information feeds back into the process to help inform the next iteration of content planning. In a nutshell, DAM solutions help brands achieve greatness. Increased digitisation is driving growth of the DAM market – what would you say to brands that have yet to invest in cloud-based services? Companies make choices about how they conduct their business because they know what they’re trying to accomplish. If a brand has yet to invest in cloud-based services, I am curious about the reasons. It might be a perfectly good reason. It also might be a reason rooted in fear, perhaps fear of change or not knowing what to do. There are lots of people who can help with that, from Photo Editing Services the biggest management consulting firms in the world (e.g., Bain, Boston Consulting Group) to the software companies who provide the solutions (e.g., Widen uses change management practices from Prosci to help customers navigate change), there’s tremendous opportunity if we choose to embark on new adventures. And you need the right people and partnerships to help navigate it. How is AI and machine learning impacting DAM? How do you foresee this developing in future? Helping people and systems find what they need faster through metadata tagging is one of the early impacts in DAM. Additional impacts include being able to dynamically assemble related content and understand what content may be situationally applicable. The volume and velocity of content is also intense. Brands are creating so much content and DAM systems help make that content more discoverable. By discovering what already exists, companies maximise the investments they already placed in content creation. The future of AI in the context of DAM and PIM is improving the search-and-discover process and presenting the most relevant information to the audience based on what they are trying to accomplish. What do you predict for the future of your industry? There are so many incredible software companies enabling CMOs to make data-informed decisions about how to reach broader audiences with more personalisation. The industry is poised for greatness because we are at service to the brand. Technology matters insofar as it helps the audience achieve what they set out to accomplish.
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