eCommerce today has radically transformed how we shop and how businesses function. The transformation and innovation naturally lead the savvy brands and e-commerce operators to the question, “What’s next?”
This blog will dive into what we think is the next big thing in commerce – Experience-driven eCommerce. We’re going to look at what it is, why you should care, and a few things we can do to get started with experience-driven commerce.
- What is Experience-driven Commerce?
- Benefits of Experience-driven Commerce
- How can a Digital Experience platform empower your Business?
- Fundamental Trends driving experience-driven commerce
What is Experience-driven Commerce?
Experience-driven commerce isn’t an entirely new idea. It is part of omnichannel marketing, digital transformation, marketing automation, and back-end integration. It is just the next level of commerce for brands.
Let’s understand it better by tracing it back to where this term is derived from. From brick-and-mortar stores to expanding into franchises and providing a similar experience across multiple locations, it now evolved into eCommerce. This was when omnichannel was coined, as brands realized that the same people shopping in-store were also shopping online, and we’re looking for a unified, personalized brand experience.
Today, we finally get to experience-driven commerce, where that omnichannel experience is accelerated even further.
Experience-driven commerce leverages automation, innovative technology, and personalization to represent your brand to your customers at the right moment, with the right message.
Brad Rencher, Executive Vice President at Adobe, even stated recently that experience-driven commerce is “the future of commerce”.
To create experience-driven commerce, marketers need to understand what customers seek through digital and physical touchpoints and then deliver critical brand experiences at the right point.
This means gathering customer journey data, identifying touchpoints to add value, and providing content and experience to improve the journey. The result is an omnichannel journey that aims to satisfy customer needs, regardless of whether the journey ends up in a transaction.
The power of the experience lies in its ability to engage the shoppers, be it in-store, on the web, or driving past a smart billboard, and understand them enough to fit their narrative instead of asking them to change their habits to meet your capabilities.
“71% of consumers feel frustrated when a shopping experience is impersonal. – Segment”
Shoppers today expect much more than just engagement. Consumers demand their shopping to be a full-on “experience,” an immersive, content-rich narrative across all touchpoints. This complex digital journey that blends content with commerce is the cornerstone of experience-driven commerce.
Benefits of Experience-driven Commerce
Deliver an unforgettable experience
When your teams collaborate effectively, you’ll develop and deliver consistently relevant messaging, product information, and services, be it through customer support on social media, a sales email campaign, or your commerce platform.
Reduce technical debt and redundant technology
The IT industry is racing to keep pace with marketing. Success comes as the two are aligned on strategy and focused on achieving the same business goals. Embracing experience-driven commerce puts customer data at the center of all decision-making, driving both marketing campaigns and the IT that needs to support them.
Companies that are more data-driven are 5% more productive and 6% more profitable than other companies.
Increase visibility into revenue generation activities
As the company embraces and collaborates with data and technology, they gain more visibility across the organization. Their cross-functional teams bring new insights and understanding about using data and technology to develop digital experiences that drive sales.
How can a Digital Experience platform empower your Business?
A platform that helps you blur lines between the digital and physical worlds. A digital experience platform enables you to unite teams, strategies, processes, and technologies you need to create, deliver, and optimize consistent commerce experiences.
Freeing you from scraping digital hacks to deliver on your marketing plan, Adobe Marketing Cloud is one such Digital Experience platform. It is a one-stop solution to deliver on your digital ecosystem. The Adobe Experience Manager – A combination of digital asset management with the power of a content management system helps you provide personalized, content-led experiences into the market faster.
Benefits of Adobe Experience Manager
- Cloud scale & security
- Content intelligence
- Adaptable experiences
- Marketing and IT velocity
Fundamental Trends driving experience-driven commerce
Brand Awareness – Providing a Content-rich Experience
Instead of the idea of ‘How can I sell my product?’ brands are today focusing more on the purpose of the product. The new narrative is, ‘How can I help my customer?’
Unified Experiences- Building Personal Shoppable Experiences
Today’s customers are more aware than ever. It is two-way communication between the brand and customers, and they expect immersive communication and unified commerce across all touchpoints consistently.
Leverage Data Right – Creating a Single Source of Truth
Ensure that your data and technologies are aligned to help drive and fine-tune your customer experience. Unified data provides a deep insight into customer behavior and empowers companies to provide enhanced experiences.
Embed AI and Personalization
Understand the individual and leverage machine learning to offer relevant recommendations. Provide an experience. Adobe Sensei, a product by Adobe, brings the power of AI and Machine learning into Magento by creating a powerful product recommendations engine that learns and builds customer knowledge in every interaction.
On a final note:
The sky is the limit when it comes to providing a better experience and technology. But it doesn’t have to be complex – It all starts with a simple step. Knowing who your customer is, collecting simple data, and building on that. Similarly, build on your technology to ensure that your organization’s infrastructure is CX-ready.
Need some help? We, at Krish, are an Adobe Gold Solution Partner and have extensive experience in implementing, maintaining, and supporting enhanced customer experience, commerce, and marketing solutions. We empower businesses with innovative solutions. Connect with us today!
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Minal Joshi is a content marketer at Krish with a flair for eCommerce and Digital Commerce aspects. She is a MarTech fanatic with a knack of writing with which, she helps brands to curate, create, & commence digital brand positioning. Sharing insights via articles, case studies, eBooks, Infographics, and other forms of content creation is what she lives for. Being an ardent traveler, when not writing, you'll find her sipping coffee into the mountains or petting a stray.
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