3 Things Revealed at Adobe Summit 2019
We also got to reconnect with some of our best customers at the best restaurants (SW Steakhouse, I’m calling you out here) and concerts (yep, the Killers killed it) in town.
It is impossible for one person — or even one team — to experience everything a large event has to offer. So it is always good to compare notes. In that spirit, here are 3 of the big ideas that stuck with me. Here’s to happier digital experiences for all.
Omni-Channel Isn’t a Retail Strategy
Our research has shown that pure player e-commerce companies are overperforming on conversion rates in comparison to click and mortar brands. Pure players yield a conversion rate of 3.5%, while their click and mortar counterparts draw in the conversion rate of 2.8% on desktop and 2.6% and 1.9% on mobile, respectively.
However, click and mortar brands perform better in their page views on both desktop and mobile, beating out pure players by 2 views on mobile and 3 views on desktop. So there are things to be learned across the aisle for sure. But beware of copycatting best practices without a holistic strategy. At Adobe Summit 2019, we brought three different retailers on stage to share how they are breaking down the silos and increasing sales based on holistic strategies tailored to each of their brands.
We quickly learned that a true omni-channel strategy is not a one-size-fits-all approach. While some brands use their websites as a kind of showroom to get customers into their brick-and-mortar stores, others are moving in the other direction. Sam Edelman for example, is helping its sales associates in stores stay in touch with customers once they are home, increasing follow-on sales online and providing an overall experience that fosters customer loyalty.
On the flip side, Ralph Lauren live-streamed its Fashion Week runway show as a stimulus to bring people into its highly-curated flagship stores. MatchesFashion, a luxury retailer, is turning its website homepage into the digital version of a flagship store with lifestyle content while its app is your “personal shopper,” helping you complete purchases on the go.
Our own Chief Strategy and Partnership Officer
Jean-Marc Bellaiche cheerily posing with our employees near our booth at the 2019 Adobe Summit.
Break Down Silos
Nicolas Pickaerts, the E-commerce Director at MatchesFashion, shared that the retailer’s culture is to talk about the company’s different digital platforms – from the app to the website to its Instagram feed – as “touchpoints” rather than “channels.” It sounds simple but I keep thinking about how genius this is. “Channels” has the historical baggage of being separate and even competing businesses.
“Touchpoints” makes it clear there is one customer interacting with your company in multiple ways and sets up your teams to understand the best way to use those touchpoints to collectively improve revenue and loyalty. This takes you from a zero-sum game to a scenario where you increase your total pie — and your market share.
Implement a System of Insight to Drive Up Your Analytics
James McCormick, the Principal Analyst at Forrester Research highlighted the need for businesses to use data and insights as a strategic foundation for growth, which is supported by the fact that insight-driven businesses are annually growing at 27- 40%, which significantly outpaces the total market. Despite this obvious advantage, less than 1 in 10 businesses are advanced with insights.
The Forrester Research, customer speakers and other discussions made it clear that gaining significant value from analytics means making it available across the company in a common and consumable way. A unified approach to your digital strategy and a way to measure how it is progressing is what gives your digital journey scale and impact.
See You Soon
Everyone here at Contentsquare loves exploring these insights and putting them to work for our customers so if you missed us at Adobe Summit, we’ll be at different events every month. Talk to you soon!
Contentsquare team members speak with Adobe Summit attendees.
