Last modified: October 29, 2018
The way consumers shop is constantly changing as new technology evolves. Shopping experiences across touchpoints must be seamless or brands not only risk losing a sale, but damaging the consumer relationship they work so hard to build. To help you stay current, Digital River is co-hosting an exclusive event with Adobe called Commerce Connect to dive deeper into emerging ecommerce trends.
Our Commerce Connect event is all about focusing on the industry trends that will strengthen consumer relationships and drive revenue growth for your business. The event will feature keynote presentations from world-class brands and industry experts that will help you navigate global growth opportunities in a world of intense competition and demanding customers. Space is limited so register today for Commerce Connect 2018 happening in Los Angeles on September 19.
Let’s take a look at four of the top trends covered at our event that are driving the future of ecommerce:
Personalized Shopping Experiences
Personalization is a big part of giving your customers a world-class ecommerce experience. At this year’s Commerce Connect event, Adobe’s director of commerce program strategy, Errol Denger will address how brands can deliver a superior shopper experience throughout the entire buyer journey. Creating personalized buying experiences gives brands a massive opportunity to engage with shoppers on a deeper level. In addition to making the customer experience frictionless, “personalization engines can improve engagement, decrease cart abandonment, and increase revenue up to 28% and conversion up to 71%.”
Personalized shopping experiences become more imperative as customer expectations keep rising. At a time when brands are able to gather more consumer data than ever, it is essential to stay on top of new and innovative engagement strategies. Supercharging your customer experience and meaningfully connecting with your consumers will have a significant impact on your brand and your sales.
Balancing a Multi-Channel Strategy
While certainly not a new concept, the pressure to sell your product seamlessly across channels is only growing in importance as customers become accustomed to buying what they want where they want it. Whether you’re selling through an online direct-to-consumer channel, on a marketplace, or a brick and mortar store, balancing a consistent multi-channel strategy will help your brand deliver a superior customer experience and increase customer loyalty.
Finding the right channel balance is so critical to brands’ ecommerce success that we’ve dedicated two Commerce Connect sessions to the topic.
Forrester’s principal analyst, Brendan Witcher, will reveal the four pillars of a comprehensive omnichannel evolution, who is doing it well, and how to future-proof your strategy to support the rapidly changing digital commerce landscape.
In addition, Amazon’s Will Kyle and Ben Chung will go into more depth about why more brands are selling through Amazon Marketplaces, providing tips on how to use your marketplace channel to complement your direct-to-consumer store.
Optimizing Renewals in a Subscription Economy
With the rising expectations of today’s consumers, it’s essential for brands to offer a wide variety of payment options backed with secure and frictionless experiences. Mastercard’s vice president of digital partnerships, Tim Montgomery, will share best practices regarding the ability to provide safe ways for your consumers to pay. He’ll also explore how that will help increase approval rates and reduce false declines, enhance security and improve the overall customer experience.
As we shift to a subscription-based economy, many brands are changing their business models to deliver better experiences to their consumers. These experiences help to establish meaningful relationships with them – as long as they’re customers you’re able to keep. Successful and secure payments are key to optimizing renewal rates and reducing friction in subscription purchases.
Monetizing Hybrid Pricing Models
Traditional packaging and pricing solutions are becoming a thing of the past as innovators like Amazon, Uber and Netflix are employing more unique and complex pricing models. These hybrid billing models can be a blend of traditional, subscription and usage-based models to monetize their solutions. Dennis Wall, CEO of BillingPlatform, will explore this trend further at this year’s Commerce Connect.
Like other emerging ecommerce trends, pricing models that are increasingly personalized and customer-specific drive more revenue and align more closely with the customer’s perception of value. This fundamentally changes how companies need to think about pricing models and what’s required from their billing systems to stay competitive. To stay ahead of the competition, next generation billing systems require a very different set of capabilities from legacy systems.
Interested in learning more about the hottest trends in ecommerce at our exclusive event in LA? Visit our Commerce Connect website to reserve your seat now. Hurry – this is an invite-only event and space is limited!