eCommerce businesses are great.
Think about it. Over the past few years, the world of retail seems to have undergone an awe-inspiring digital transformation- all thanks to eCommerce models.
In fact, according to Jason Woosley, Vice President at Adobe Commerce, Magento alone has been responsible for over 155 billion US dollars in retail commerce; clearly showing just how impactful eCommerce businesses can be.
But even with revolutionary business models, things can only ever go so far unless you know how to capture market value.
So, how does one capture market value? And that too, as effectively as possible?
Immersive User Experience
In our opinion, market capture can only be possible if consumers feel drawn towards your business.
To do that, of course the first step is having products or services that deliver real value to the end consumer. This, however, is where most people stop.
Think about it this way. The product/service you offer is well, theend goal. That is, what you’re selling and what your customer will eventually engage with, is actually going to be the last step in a series of steps. For anyone who has ever been even remotely interested in shopping, the fact is that the shopping experience has to be much, much more than that.
A user’s experience begins at your storefront. To the shopper, whether the store is physical, brick-and-mortar, or online, doesn’t matter all that much. The thing which does matter to them, however, is how they get to experience everything once they enter.
And this is where it can get challenging for an eCommerce store.
Understandably, no one wants to make a heavy purchase like, say- a car, without making a detailed inspection of the product. And then, there is so much else there as well- things that go beyond basic quality assurance for the customer.
Sometimes, it simply is more about how the customer feels once they begin engaging with an eCommerce store front rather than anything, which determines whether they will make a purchase in the end.
Think value added goods!
Point being, from being able to find the product on your store, to having easy access to scroll down options, or add to cart buttons etc. everything matters.
One of the reasons behind the popularity of platforms like Magento, in fact, is how it allows businesses to create better and more immersive user experiences.
When we talk about Magento, there is a reason why retailers from all verticals want in.
To begin with, the platform truly does seem to have expansive implementation built into its framework. Thereby, leading to an endless stream of opportunities to innovate and optimize for entrepreneurs.
It doesn’t matter whether the enterprise is mid-market, or large scale in nature, the sheer number of tools this platform offers, enables it clients to not only create immersive experiences- but to create experiences that are highly differentiated in nature, in addition to being immersive.
For Consumers, By Consumers
With that said, however, there is something to say when it comes to building an immersive experience. And it goes farther than just intuition on the part of a business.
For a while now, in fact, people have learned to appreciate user data and what it can do for a business. So, we won’t be saying anything new, when we tell you that working with user data is essential to finding success in your eCommerce endeavors.
But even then, there is still room for improvement.
The idea here, you see, is to be efficient while gathering data, rather than doing blind data accumulation in a haphazard fashion. Similarly, it will not be very much beneficial for a business if it were to use data that is old in nature. On the contrary, a successful business these days needs to have access to real-time analytics and insights.
So really, instead of playing a game of cat and mouse with your consumers- that is, going on an endless chase where you keep running after old user generated data; try instead, to accompany your users on the end-to-end journey by using real-time analytics.
Jason Woosley, for instance, believes that this is the way froward for eCommerce today. According to him, this kind of Experience Driven Commerce is what truly sets Magento’s clients up for success- in addition to ensuring that they are always one-step ahead of their competition.
The goal here, therefore, is to enrich customer engagements, by making sure that every moment they spend on your store is personal; so that every experience they have, becomes shoppable. And what integration of commerce and data does really, is that it allows you to venture into the end-to-end journey, side by side with your customers. Thereby, enabling you to understand, not only what they chose, but how they chose it.
In other words, the way to create an eCommerce experience that people actually love, is by combining technology with human experiences, and using customer generated data to get to a point, where every experience on your site feels genuinely welcoming to the customer.
And of course, while you’re at it, using the right platform to equip yourself with the right tools, thereby reaching the ultimate goal- more satisfied customers.