Exploring Experience-Driven Commerce
Defining experience-driven commerce
In the age of user-generated content, fast-changing customer demands, and emerging ecommerce technologies, retailers and brands have adopted dynamic, continuously-updated business models to stay ahead of competition. The shift from company-driven to consumer-driven marketing and business models requires an emphasis on a more recent trend known as “experience-driven commerce.” Unlike more traditional models and mindsets, experience commerce encompasses the entire customer journey, from the second a shopper learns of your brand, through the follow-up customer service they recieve after purchasing. In the face of these changes, companies are striving to forge unique buying opportunities and unforgettable business-consumer relationships, regardless of time, location, or device. To avoid falling behind, marketers and business owners are now utilizing a combination of personalization, sales and marketing campaigns, new technologies, and interactive content.
Online shopping is no longer equates to scrolling through basic web pages filled with product listings and descriptions; shopping is now an extensive brand experience. In today’s retail world, experience-driven commerce is the future we’re all heading toward. Experience-centered ecommerce is the latest evolution of the commerce model, moving from more rudimentary platforms to more comprehensive, integrative solutions that focus on consumer-facing strategies and seamless, digital omnichannel shopping experiences. The customer-centered business model trend isn’t going away anytime soon; advances in technology have made it possible to interact and engage with shoppers across a wide variety of channels and mobile devices.
Through the provision of a concise brand purpose, superior customer service, cross-channel optimization, and captivating content, you can increase the number of touchpoints consumers have with your business tenfold. Thanks to developments in data gathering and analytics, your ability to provide your shoppers with custom, tailored buying experiences is more attainable than ever before. Compiling information on an individual’s purchasing habits, browsing and search history, and social media engagement can bolster your capacity to accurately pinpoint personal preferences and demands.
Moving from brand awareness to purpose
Brand awareness is no longer enough. In the era of overwhelming, oversaturated digital content, virtual reality, and social media, your consumers already know of you; it’s your responsibility to provide context, a backstory, and a company purpose that allows your audience to individually connect with your brand. Experience-driven commerce is a masterfully-curated cocktail of product and brand discovery, cross-channel functionality, consumer data, and exceptional physical and digital shopping experiences.
Provide your consumers with a visually-compelling story that synthesizes a personalized shopping experience across all channels. Shoppers can now browse the web on their smartphone, use an in-store kiosk or mobile app to place an order, and then visit an actual store to physically pick-up a product. A consistent voice and presence on every platform is imperative to the creation of a complementary, interchangeable brand presence.
Your in-store experiences and aesthetic presentation should blend seamlessly with your online stores, sites, platforms, and social media profiles. Brick-and-mortar stores and online interactions are now one blurred entity, no longer are the physical and digital seen as black and white. Choosing to ignore the importance of experience commerce will lead to a dysfunctional, inconsistent brand image and purpose, resulting in a weakened company presence and name recognition. Experience-driven commerce requires unified functionality across all devices and screens.
Prioritize cross-channel engagement
While traditional methods of multi-channel ecommerce will prove functional for the time being, in the near future (if they haven’t already) successful global companies will leverage experience- and consumer-driven approaches. Ecommerce businesses will continue to adopt experience-driven sales and marketing systems to increase audience engagement and build meaningful connections with contemporary shoppers. In comparison to more conventional models, and even more modern omnichannel approaches, experience-driven commerce centers on reimagining the digital buying landscape through mobile technologies and virtual content that natively support a cyclical, tailored sales cycle.
Experience-driven commerce requires the implementation and cooperation of several different departments within your business model: IT, marketing, sales, design, and more, to develop a custom, impeccable user experience. The popularity of user-generated content, mobile usage, and consumer-oriented purchasing experiences have shifted the power from the hands of retailers to those of the consumer. Now more than ever, customers can learn vast amounts of knowledge about brands and products; individuals are taking full advantage of this widespread availability of information to shop for products and brands they’re initially drawn to.
The modern shopper now seeks out buying journeys that encapsulate immersive experiences, not a quick errand or aimless browsing. They want to be active participants while interacting with your business’ brand image and backstory, on demand. Online consumers expect a continuous, homogenous experience any time they come into contact with your brand, be it via web browser, mobile app, or in-store. Individuals look for rich storylines and context around their shopping experiences, which you can enhance through personalization, providing detailed product information and recommendations, customer reviews, social content, and tailored audience personas.
Personalization and technology
Superior experience-driven commerce is achieved when you successfully provide your consumers with what they want, where they want, and when they want. Increasingly relevant, personalized content and engagement strategies are made possible by analyzing data to form deep insights into customers’ buying habits and channel preferences. With the number of mobile purchases increasing every year, a typical shopper now enters the buying landscape earlier than ever, with most browsing for a particular product or price-checking on their smart devices before ever setting foot in a store to make an actual purchase.
Intense personalization is more easily-available to marketers and business owners than ever before; this seemingly endless supply of data about your shoppers can help you to tailor content and understand your audience more so than at any other previous time in commerce history. Experience-driven commerce relies on a culmination of on- and offline interactions between an individual and your brand; a thorough experience-driven approach heavily emphasizes the importance of omnichannel functionality and mobile optimization. The utilization of deep-learning artificial intelligence, customer experience solutions (CXPs), and data analysis programs are essential in experience-driven commerce.
Moving forward with Adobe and Magento
The main takeaway from the conceptualization of experience-driven commerce is an organization’s dedication to providing a complete “end-to-end” consumer experience, whether online or in-store. The hyper-aware customers of today convert and purchase on their terms, taking into consideration their personal worldviews, emotions, and previous brand interactions. This new buying journey culminates in the blending of content, context, and omnichannel functionality.
Regardless of the type of company you operate, the types of products you sell, or what industry you’re involved in, it’s likely that you’ll need the support of an ecommerce platform, content management tools, a CXP, PIM systems, and more. Most enterprise-level companies that compete on a global level use CXPs like Adobe, Oracle, etc. that provide a range of features to aid in content and audience management.
Following Adobe’s acquisition of Magento, the giant’s arsenal of customer journey management tools has become even more robust. The integration of the Magento Commerce Cloud with Adobe Experience capabilities marks a new level of merchants’ ability to create highly engaging purchasing experiences. Adobe/Magento customers now have access to remarkable Adobe marketing and experience management platforms alongside a plethora of features and capabilities enabled by Magento-operated sites.
“Adobe Experience Manager brings artificial intelligence and the scale and security of the cloud to content management, letting you build powerful and personal experiences for your whole audience on any screen.” – Adobe
Want to know more about the Adobe Experience Manager? Check it out.
Check out Magento’s blog “What Is Experience-Driven Commerce—And Is It the Future?” here.
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