Are You Ready to Reach Peak eCommerce Sales Performance?

Global Ecommerce sales are expected to reach $5.5 billion in 2022

by: David Slavick, Ascendant Loyalty Marketing

Trying to meet or beat comp channel sales performance YoY in a channel that is overachieving against even the most aggressive trends makes for a rather unenviable position.  The challenge for global digital commerce leaders is daunting, just like trying to reach the summit of the highest mountain.  While the elements are difficult to navigate as you get closer to the summit, so is the unpredictability of supply and demand.

“While 2020 ushered in massive digital expansion, growth settled to single digits in 2021, and traffic plateaued. To find the next tranche of growth, retailers must make the most of the shoppers they know, and optimize every aspect of the on-site journey. 2022 will be won by those that optimize.”

— Rick Kenney, Managing Director, Leading Lights

Ecommerce leaders are constantly challenged to integrate emerging tools that can create a competitive advantage, while simultaneously effectively managing the here and now.  Likewise, gaining alignment with internal partners on the optimal path forward towards building best-in-class capabilities, resource management, and finding the right partners to assist based on specialty is a herculean task.  Some burning questions include:

  • What initiatives will deliver the best return on investment?
  • What gaps or problems in the business model are limiting sales growth, margin optimization, customer satisfaction, and site conversion? 
  • How best to build a progressive roadmap that takes advantage of synergies across varying initiatives that could accelerate go to market?
  • Which partners are willing to “put skin in the game,” support a proof of concept, and most importantly not get in the way of steady-state feature/functionality?

To answer these questions, a helpful approach you might consider is to build a simple four-box model that rates business value to resource demand.  A simple illustration shown below.  Always plot the initiatives against the axis for priority viewing purposes.

After mapping initiatives and solutions, you’d think the hard part was behind you? Nope! Now the real work begins. 

Creating alignment across those in the enterprise with a vested interest in ecommerce performance is indeed the hardest exercise; if you don’t achieve uniform buy-in from key partners across the working team, failure is a very likely result.  Understanding team dynamics is essential, especially how competing priorities can get in the way of mutually achieved success. 

A good place to start is to pull the team together, ask what their priorities are for the next two to three years, then build the plan that has the greatest potential to exceed the expected accelerated growth in ecommerce sales as a percentage of total sales revenue for your ecommerce only or omni-channel business.  Understanding the remit across the organization is critical. As a primer – here are some brief notes on what each ecommerce stakeholder may be considering. This is by no means exhaustive, but can help you gain an appreciation for the unique requirements, priorities and challenges faced across the team:

ES Engage

ES Engage from Exchange Solutions takes a unique approach to achieving ecommerce success and optimizing margin with a custom built low-touch personalized e-commerce solution. Through value exchange optimization, retailers can provide shoppers with personalized offers tailored specifically to their behaviors. 

To learn more, go to: https://www.exchangesolutions.com/es_engage-2/

  • Speed to Market
  • Easy Proof of Concept/Testing
  • Conversion Lift
  • Margin Optimization
  • In-depth Timely Results
  • Sustainable Results
  • Financial Reporting
  • Customer Centric Compelling Offers
  • Advanced Analytical Application

David Slavick is Co-founder and Partner at Ascendant Loyalty Marketing and is a world class expert at CRM/Loyalty business case development, program design/strategy, and global technology assessments. David can be reached at david.slavick@ascendantloyalty.com.

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