In 2023, U.S. retail e-commerce sales are forecasted to be over $1 trillion with double-digit growth year over year1. Today, commerce is more digital, more social, and more immersive than ever. At the same time, consumer expectations are at an all-time high, challenging us to design deeply engaging omnichannel shopping experiences.
We do this by creating highly personalized touchpoints shown to accelerate consumer spend. Since 2014, our research has shown that engaged shoppers buy more frequently, buy more premium products, buy more offerings from favorite brands, and stay loyal longer.
Our findings align with other studies2 on the power of personalization, which confirm:
- 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences
- 63% of consumers will stop buying from brands that use poor personalization tactics
- 71% of consumers say a personalized experience would influence their decision to open and read brand emails
Where Pivotal Moments™ come in
At Razorfish, we build unforgettable brand experiences by taking personalization at scale a step further with something we call Pivotal Moments™. This proprietary solution maximizes “return on customer” by identifying precise moments in the journey where attention can be captured and vivid impressions can be made.
This strategy ensures that brands are delivering the right message in relevant channels at exactly the right time. It allows each customer to receive optimal value from every brand interaction. The result is a higher level of engagement and an acceleration in purchase rates.
Where some brands fall short is by failing to integrate their commerce investments with customer engagement marketing (CEM), also known as CRM. At Razorfish, CEM is fully integrated with commerce. We apply powerful CEM concepts to every commerce solution to build and sustain relevance, preference, and revenue growth.
Accelerating your commerce game
To uncover the best commerce + CEM strategy for your organization, we’ve identified important pillars to guide your evolution. Wherever you are in the process, we can build and scale solutions that drive relevance and growth. It takes a bit of testing and tweaking, but the only way to fail is by not experimenting with these modern, data-driven tools.
Know your commerce + CEM maturity level
We support brands at all capability levels. We start by learning where your organization stands from a marketing, data, and technology maturity level in order to establish actionable short- and long-term goals. If there’s not at least a quarterly business planning session with cross-functional leadership (CMO, CDO, CTO) aligning on common objectives, this is where to begin.
ID key moments in your customer journey
Brands that understand their customers deliver greater value. Knowing where they are in their journey injects relevance into the conversation. If you’re thinking only about the purchase process, that’s simply not enough. From discovery and engagement through fulfillment and support, we find ways to enhance and personalize the shopping experience from start to finish (again and again.)
Build and enrich customer resolution with all-party data
Harnessing and managing customer data is essential. From behavioral signals across your digital ecosystem to all-party data that forms a high-def picture of who they are and what they seek, managing data with care and skill enables more meaningful experiences.
Enlist martech that powers real engagement
To personalize at scale, a typical martech stack should include a synchronized marketing cloud supporting digital asset management, a content management system, audience targeting, omnichannel campaign orchestration, and analytics. Some clients struggle to use current platforms while trying to onboard or maximize new products. As a leading Adobe and Salesforce partner, we can show you how to optimize and grow your martech stack within an existing data infrastructure.
Scale platform strength and automation
One way to gain agility, eliminate manual tasks, and minimize risk is by leveraging the full power of your data, content, and campaign tools. Lead generation, cross-sell, upsell, onboarding guides, and customer service, to name a few, should be automated wherever appropriate. This can enhance engagement while boosting efficiencies. Depending on your people, processes, and current technologies, our teams can assess your level of agility to maximize revenue potential.
Engage customers in memorable experiences
Activating relevant, human experiences around Pivotal Moments™ can inspire customers to take the next action for higher customer lifetime value (CLV). At Razorfish, we immerse ourselves across the entire experience. Whether it’s designing the commerce or retail experience, building social engagement, supporting products and campaigns, or creating content, we make brand moments that consumers relish and remember. We collaborate with experts across creative, digital, social, data, and development to harmonize and enrich every encounter.
Optimize programs that drive key business metrics
As with any new venture, conducting pilot studies focused on a single KPI can quickly build proof points before we accelerate at scale. Testing brings clarity on program performance and “return on customer” to enable the kind of improvements that drive real business growth.
In e-commerce, there’s no one-size-fits-all solution to these complex ecosystems. Depending on market conditions, priorities may change with little warning. No matter where you are, or what happens next, Razorfish is here to help.
Our commerce + CEM teams are truly passionate about elevating the process by helping people find what they need when they need it. It starts with helping companies use technology to the fullest, fostering genuine relationships that go the distance.
1 Source: eMarketer, February 2023
2 Source: Forbes, February 2020