This is a preview of the on-demand webinar,
Connected Commerce: The Secret to Winning Against Digital Disruptors.
Connected commerce can help established brands strategically outperform digitally disruptive innovators. In a webinar co-hosted by Aberdeen and Oracle, Aberdeen VP and Principal Analyst Omer Minkara discusses that while regular, effective innovation is a challenge for ecommerce leaders, brands that master it experience:
• 45% year-over-year improvement in customer retention
• 18.6x year-over-year decrease in commerce program costs
• 4.7x improvement in year-over-year annual company revenue
Also in this webinar, Bob Meixner, Director of Product Strategy for Oracle Commerce Cloud, talks about the role of integrated commerce in thriving in today’s competitive market landscape.
Read on to learn more from Minkara and Meixner about how connected commerce can help you compete with today’s digital disrupters.
Prioritize the quality of key features in your platform
For brands thinking about a long-term strategy for connected commerce, it’s important to begin that journey by prioritizing the quality of their commerce platform’s core features. “Almost universally across the best in class, those companies are telling us that they do have the ability to create, but also modify, the different commerce workflows through a centralized system. If they update a certain workflow around order management, any changes made on the commerce platform cascade across the different systems, and therefore minimize inefficiencies and maximize profitability,” says Minkara.
Minkara goes on to point out that Gartner research shows best-in-class organizations are 30% more likely to note that their commerce platform integrates easily with other systems, such as their enterprise resource planning (ERP) solution or CRM system.
Empower regular, efficient employee innovation within the platform
Minkara shares that best-in-class organizations have found ways to support regular, efficient employee innovation within their platforms—and some of that involves eliminating low-value work from technical teams.
Meixner agrees. “If you’re using multiple disjointed tools with limited access to data, you’re just naturally going to be held back. And the same is true for IT professionals and developers on the digital commerce side that are really looking to build cool, differentiating capabilities rather than spending the majority of their time doing application maintenance and integration work,” he says.
According to Minkara, organizations that struggle with innovation—especially when it comes to empowering their teams to drive growth and significant customer-focused innovations—can benefit from upgrading their commerce platforms. “If your employees are struggling to make changes, if they need to do a lot of coding, if they need to make a change in one system, but also make other changes across many different systems, it can be challenging. If you’re not using a connected commerce approach, in other words, companies are struggling, and therefore, they’re preferring a different commerce platform,” says Minkara.
To learn more, view the full webinar: Connected Commerce: The Secret to Winning Against Digital Disruptors.