Even as transparent pricing and rising B2B buyer expectations compress business margins, leading B2B sellers are leveraging eCommerce to complement traditional channels and drive digital revenue growth. At the same time, most B2B digital experiences struggle to match B2C experiences. Endless catalogs, nuanced contractual requirements, multiple buyers, integrated account managers and complex buying processes increase complexity to both buyers, as well as sellers. B2B leaders are turning to personalization to simplify, guide, and differentiate.
According to a recent IDC report, worldwide spending on AI will exceed $52B US by 2021. Now that AI-driven personalization is mainstream, and its value is understood by any business leader with a pulse, companies are spending an increasing portion of those billions to ramp up their data science departments and leverage any advantage their customer and business inputs can provide them.
The grocery sector presents some unique challenges for digital marketers impacting their ability to build profitable and sustainable online growth. From complex and expensive logistics, to an exploding ecosystem of ‘direct to customer’ competitors, already thin margins are being squeezed even further. However, with a wealth of customer data and insights, there is an enormous opportunity for grocery retailers to utilize technology and AI to strengthen the level of service they offer to their customers.
With the holiday season fast approaching, are you prepared for the biggest holiday season in more than a decade?
eMarketer predicts that the 2018 holiday season will be even bigger than the last given that according to some measures, consumer confidence in the US is at its highest level since 2000. With more money to spend due to rising wages, tax reform, and low unemployment, you should be doubling down on your efforts to deliver on the customer demands of seamless, shopping experiences.
Leading fashion brand, GANT has seen online sales improve by 15% since putting their trust in personalization.
GANT wanted to move away from a manual, time-consuming recommendations platform to improve their overall site experience as well as enhance their navigation.
Matching what we are hearing from the market, B2B executives from across multiple B2B verticals see digital as a primary driver of their growth strategy and expect the majority of their products to be sold online in the next five years, according to a study of business leaders in the United States and Europe. Digital commerce will become the dominant channel in that time period, moving beyond “secondary” status, according to a new report titled Why Digital Will Become the Primary Channel for B2B Engagement.
As Forrester just noted, digital experience teams are investing in site search – and re-vamping this critical feature can bring major benefits (see our July 26 blog post). As part of their upgrade efforts, digital leaders are marrying personalization and search in order to present shoppers with an individualized experience. The rewards are significant: online marketplace Swap.com saw an initial ‘out of the box’ conversion increase of 7.3% from personalized search – the biggest conversion increase Swap.com has ever seen as the result of introducing a new tech capability.
Swap.com, Riachuelo and Other Digital Leaders Increase Conversion & Sales with RichRelevance FINDTM
Shop.org 2018 – Las Vegas, NV – September 13, 2018 – RichRelevance, the global leader in Experience Personalization, today announced that B2B and B2C leaders continue to switch to RichRelevance FIND™, the industry’s only true personalized search solution. With 8 in 10 shoppers always or often using search while shopping, and 7 in 10 likely to leave a retail site that doesn’t provide good search results, companies who prioritize commerce search are turning to FIND in record numbers to drive double-digit digital revenue growth.