This talk at The Commerce Exchange - Yorkshire's digital commerce conference & meet up on 8th April 2015: www.thecommerceexchange.co.uk
My talk covered the current drivers of rapid eCommerce growth.
- 1st Generation eCommerce companies and marketplaces - Amazons, eBay Founded in the 90s, early 2000s (OVER-AMBITIOUS)
- 2nd Generation, Web 2.0s founded post bubble burst (CAUTIOUS)
- 3rd Generation founded over the last 5 years 2010-2015 - the age of Pinterest, Instagram - the Visual web 3.0 (DISRUPTIVE)
What was covered:
- The business DNA and business models adopted by fast-growth eCommerce start-ups (with examples and case studies).
- Key best practice eCommerce growth tactics established e-tailers are adopting to drive double-digit growth.
- Fundamental eCommerce Growth metrics beyond Revenue and profit and measurement tools out there to track these metrics.
- Understanding the 3 core growth drivers: Product market fit, Scalable cost-efficient Customer acquisition and Retention.
- Why the U.S. is ahead of the UK & EU in the area of ecommerce technology innovation and key takeaways for the UK.
I shall be digging into the need to reduce 'friction' in commerce from holistic standpoint.
Which will cover
- Findability: on search, social channels and app stores (being everywhere)
- Value proposition: video, image and text are no longer sufficient, retailers are offering a ‘try before you buy’ experience
- Brand engagement: especially with social and email
- The actual user experience: on not just mobile, tablet and desktops but also in pop-up stores, events and stores (multichannel)
- Fulfilment: thinking beyond next day: click and collect, same day delivery, clarity on shipping
- Returns: hassle free
Each point will be backed up by examples of retail businesses (of varied sizes) that are delivering the best frictionless experience to their customers.