How context-driven commerce drives revenues across lifelong customer relationships?
Cart abandonment, digital advertising (especially when faced with ad-blocking software), and discrete digital stores are relics of the past when it comes to e-commerce. Consider this: How much revenue do you think $1 spent on digital advertising will generate in commerce sales? The answer: A bit more than twice the investment – an abysmally unprofitable equation for any company carrying physical inventory. Clearly, these financial dynamics are not sustainable, even for the largest, most established online retailers
Digital commerce: What’s right and what’s wrong?
Over the past decade, there’s been a meteoric rise in the volume of commerce conducted on digital channels; in the US alone, holiday e-commerce sales increased 272%, from $19.6 billion in 2005 to $53.3 billion in 2014. But behind the slick façades of many of the world’s most breathtaking commerce sites lies an ugly truth: the techniques used to drive revenues and measure success are hopelessly antiquated.
Sitecore offers a fundamentally different approach to digital commerce. We call it context-driven commerce and it’s based on three key rules of conversion:
- Prospects engage with content that’s totally relevant to them at that exact point
- Engaged prospects convert into customers
- If you keep them engaged , companies and brands win customer loyalty
Sitecore delivers context-driven commerce
From an IT perspective, marketers require three types of technology enablement to engage in context-driven
- The ability to deliver the right content in precisely the right context of the user’s experience. This entails responding to shopping behavior in real time with personalized commerce opportunities, instead of waiting for the visitor to navigate to a separate store. Context-driven commerce converts visits into purchases more fluidly and effectively than standalone online stores and their easily abandoned carts.
- A behavioral database that tracks all customer interactions across all digital channels. Collectively, this data provides a single view of the customer and is an important factor in determining contextual
- Content optimization, targeting, and testing tools that marketers can use to predict and deliver which
content and commerce opportunities customers will want, based on their profiles, interests, and actions.
This white paper explains how context-driven commerce works, how the Sitecore solution delivers context-driven commerce capabilities today, and the important business benefits that can be gained.
Download this white paper to understand how context-driven commerce works, how the Sitecore solution delivers context-driven commerce capabilities today, and the important business benefits that can be gained.
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