Throughout the year, we connect with our clients around the globe to identify the challenges they face and understand how our solutions are helping them overcome those challenges. We’ve heard from countless eCommerce practitioners about their battle against large, online heavyweights stealing market share and exploiting margins. It’s a real struggle for some retailers as they fail to keep pace with market innovations and growing customer expectations. In fact, a recent Aberdeen study shows that 31% of commerce firms surveyed credit the speed at which competitors innovate as being the biggest threat to their own success1. They simply can’t keep pace with the frequency of market innovations and growing customer expectations.
If you’re having a harder time turning browsers into buyers and hitting your targets in this complex commerce environment, you’re not alone.
One thing is clear, commerce is a battlefield. And it’s an all-out brawl for every dollar. To stay competitive, you need to be equipped with tools designed to create memorable, differentiated experiences, gaining the competitive edge by utilizing AI-powered, IBM Watson Commerce solutions.
In your fight for market share, here are some key tools to help:
1. One-Two Punch: Speed and Simplicity
With a comprehensive, unified eCommerce platform, you can reduce the time and money spent on development and maintenance. This will free up resources to focus on creative and innovative ways to build relationships with your customers. By leveraging the speed and simplicity of SaaS, you can innovate faster and execute better than your competitors, delivering the experience-driven interactions that your customers expect.
2. Bob and Weave: Agility and Flexibility
If you can’t easily add innovations to the customer experience, then you’re not fighting at the top of your game. With an agile eCommerce platform designed using a microservice architecture, upgrades are fast and won’t knock you off your game. You can easily bring in a new set of tools and increased flexibility so you’re ready for anything, like rapidly deploying new revenue channels, new brands or country sites, helping you stay ahead of fast-moving markets, changing customer expectations and rapidly evolving patterns of engagement.
3. The Knockout: Outlast the Competition with AI
Today, it’s all about the customer experience. The best way to differentiate and compete is by knowing your audience better than ever and creating experiences that engage, converting them into loyal customers that keep them coming back.
What’s the key? Insight. Your data might be siloed, or diverse in format, making it hard to spot the patterns or trends. But AI can understand data and learn from it, even help you predict what a customer wants before they know it themselves. Taking full advantage of AI-powered insights can enable you to create meaningful relationships with both new and existing customers, building trust that leads to brand loyalty and repeat purchase.
It’s time to change the game
Make no mistake: this is a fight. But with the right tools, it’s one you can not only compete in but dominate. IBM Digital Commerce can make it easier to build richer experiences everywhere your customers want to buy, providing you with AI-powered insights and visual business tools designed to help create, manage, and execute memorable eCommerce experiences.
Learn more about how IBM Digital Commerce can provide you with strategies and tools that can help you dominate by downloading the eBook below.
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