Bancroft offers tips to get technology house in order
ARLINGTON, Texas — At a time when the consumer purchase journey could include 18 or more separate touch points prior to completion, the ability to collect, interpret and act based on an increasingly deep and complex pool of data has become critical.
That was the assessment of John Bancroft, sales consultant at FitForCommerce in his presentation about getting your technological house in order.
“The market you’re in today is very different than what it was two to three years ago,” Bancroft said. “You need to have the appropriate tech stack in place.”
Nowhere is this more important than in the area of digital merchandising, which has forever been changed by the endless aisle of e-commerce and the massive amounts of customization it has unleashed.
Gathering and leveraging data can assist a retailer to optimize such key areas as conversions, average order value, product affinity, browsing pathways and social interactions, Bancroft said. Increasingly, these tasks can be enhanced or automated through use of artificial intelligence and machine learning.
“Think about your customer journey, and map it out. Then build out your merchandising strategy,” Bancroft advised. “Reconsider looking at your checkout and improve conversion through better content and better features.”
And when it comes to marketplaces, whether you sell on one or not, “everyone needs an Amazon strategy to succeed in or around Amazon,” Bancroft said. For those selling on Amazon, Bancroft advised focusing on pricing, “which is big driver of visibility.”
For those more focused on the in-store selling experience, data management is just as critical. “There’s so much CRM data, you need to get control of it and start integrating, because the customer is bouncing across touchpoints,” he said.