Today, customers use an average of 5 to 6 touchpoints when buying an item. In this fast-paced world of communication and information overload, consumer’s attention is the most coveted currency that brands are striving to capture in order to realize their business goals. This is why customer experience is key to acquiring and retaining loyal customers. According to Forrester, as many as 72% of businesses name improving customer experience their top priority.
However, many brands still struggle to enable “experiential commerce”, a unified, rich, engaging shopping experience that allows customers to transact in the now. Consumers are often offered disjointed and confusing pathways to transacting, in which the brand experience is curated and immersive, but product selection and ordering occur in a siloed, non-compelling environment, and opportunities to retain the buyer’s engagement are missed.
Why is it challenging for brands to monetize the experiences their marketing teams are creating?
Monoliths stifle business agility
For a number of brands, the challenges to experience monetization opportunities are dictated by the limitations of brittle, monolithic systems and legacy platforms. Traditional ecommerce systems couple the frontend presentation layer with the commerce engine. This creates siloed solutions for mobile, web and other channels, limiting …read more