As we head into the new year, executive teams have a lot of decisions to make regarding the future of their brands. What will the marketing budget be used for? How is the target market reacting to the brand? What are the areas the team needs to be focused on? To ensure you maximize your marketing efforts, you must closely analyze technologies, infrastructure, talent, and execution plans. However, amid all the craziness of 2020, e-Commerce recruiters have seen leadership teams move e-Commerce to the top of their list of priorities.
The reality is e-Commerce has and will continue to grow rapidly. Approximately 60% of customers’ interactions with organizations are done online. In fact, in the first 10 days in November 2020, 21.7 billion dollars were spent online. This goes to show how crucial e-Commerce development is to companies. Therefore, as the leading VP of e-Commerce executive search firm, we have studied how top companies remain competitive in the e-Commerce world. Here is what you need to consider going into the new year:
e-Commerce Executive Search Firm Shares 2 Essential Elements To Accelerating e-Commerce Growth:
Test & Learn Method
As marketers, using the test and learn method is how you build a stronger understanding of your customers. It helps you execute better marketing strategies that will in turn boost brand awareness and create customer loyalty. According to a study done by McKinsey, “more than 50% of companies whose revenue growth is in the top 10 percent are more effective because they test ideas, measure results, and execute changes.”
However, without the right working environment, e-commerce professionals will most likely be reluctant to take risks even if they believe they would get results. Therefore, it is important that your senior leadership team provides a space where employees are free to test creative ideas and uncover new strategies that will help you push your brand to the next level.
In most cases, executive teams have implemented a system that rewards employees for taking an appropriate level of risk, even when it fails. They empower marketers to continuously improve and innovate their marketing approach. Some companies have gone as far as reducing the approval process. Making it easier for marketers to test new go-to-market strategies, improve e-Commerce platforms, or even get new products to market first.
In the end, e-commerce recruiters understand every company approaches marketing from a different angle. However, trial and error is the best method to determine which marketing strategies are better fitted for your business and target market.
Top companies and executives understand how fast customer’s needs and wants can change (and have changed during the pandemic). You need to be able to quickly react to customers’ demands, adapt existing offers, introduce new products and services, and deliver them to the customers fast to remain on top. The reality is customer satisfaction has always been the key to growing your business. By focusing on the customer, it helps you find clarity on what you need and helps you eliminate things that do not add value.
In practice, you need to heavily rely on data analysis and have a zero-defect mentality. Executive teams should focus on the details of what the target market wants. Once you have a clear understanding, you can then provide a more seamless transaction.
In today’s market, customers are more prone to buying products and services that they feel are catered to them. Changes in e-Commerce have led successful companies to achieve customer satisfaction and loyalty by personalizing their consumer buying experience. Companies can take advantage of the data they have acquired through customer interactions and curate a list of products, blogs, and recommendations. Therefore, by increasing customer satisfaction, you will accelerate your e-Commerce growth.
Overall, achieving your e-Commerce goals may seem difficult, but it’s possible. You need to start with the most important ingredient of any success: a strong marketing team to ensure you are on the right track. However, as the leading e-Commerce executive search firm, MarketPro has seen inconsistencies with what clients are looking for and the challenges they face in recruiting top talent to represent their brands. You need a marketing team who can align your message and exceed customer expectations. For that reason, partnering with specialized e-Commerce recruiters will ensure you have the right talent on your side.