How to win in E-Commerce
Thought Leadership: Best Product Experiences
What makes good E-Commerce? We investigated this question and asked Tobias Marks about it. Learn what five key ingredients you need to run successful e-commerce.
“Companies today have very complex challenges to overcome. On the one hand, global competition is forcing them to constantly open up new sales channels and look for ways to continuously optimize product experiences in all these channels and on all relevant platforms. After all, the company’s own products must be able to stand out from those of the competition and generate attention. But attention alone is not enough to convince potential customers to buy.
Today’s consumers are on the move on different digital channels in parallel and often gather information on several touchpoints before making a purchase decision. That’s why brand and product communication must be consistent across all channels, send the same messages, and leverage conversion potential at all touch points wherever possible – today, that includes social media.
Managing this complexity is anything but easy. This requires the right software systems, optimal processes for product experience management (PXM), and intelligent functions such as AI services that simplify the day-to-day work of those responsible for communications, increase internal efficiency, and reduce the error rate – and ultimately also sustainably increase the quality of the product content.
Analysts at The Group of Analysts (TGOA) found in their 2023 Analyst Report on the PIM Market that the market for product information management solutions will grow to a total volume of $63.8 billion by 2030, representing an average growth rate of 21.09 percent. The analyst firm has identified growth in the e-commerce sector as a key driver of this development.
PIM is certainly a core discipline that must be solved to be successful in e-commerce. But it is also just one element along the digital value chain. In this paper, we highlight all the essential areas of this value chain and explain how they need to mesh to best support companies in their e-commerce ventures.”
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