The 6 Es of Everywhere Commerce for retailers, brands and B2B businesses
- Execution Now that everyone agrees that eCommerce is strategic, executing at speed is the major challenge for large businesses. An agile approach will help deliver business benefits quickly, while remaining open to future change.
- Easiness Make it easy for all shoppers to shop with you, anytime, anywhere, any device.
- Excellence Customer experience excellence is highly correlated with improved customer loyalty, and better financial performance. Structure the business to deliver this efficiently and consistently.
- Experience Bringing the in-store experience online can help retailers offer a differentiated proposition. Brand owners can use digital channels to create emotionally engaging experiences for their end consumers (and collect valuable data) even when the purchase transaction is completed elsewhere.
- Emergence An emergent approach to strategy will help keep you aware of evolving trends and technologies. Innovative ideas can come from anywhere inside or outside the company and an emergent approach allows these to be incorporated in the company strategy.
- Exploitation Be careful not to introduce new technology for its own sake. Focus first on understanding customer behaviour and then how technology can enhance this. Exploit existing technology before buying new.
If you missed the previous Upstream post, 'eCommerce becomes Everywhere Commerce. Brands face stark choice: adapt or die', you can read it here.
First published in BrandZ Top 100 Most Valuable Brands in 2013