In times where Netflix is using your viewing data to predict which actors you’re most probable to like in their TV shows. When virtual assistants are narrowing your window on the world again, while pleasing our desire for frictionless experiences. And while we embrace platform thinking in today’s ever more connected world. Then how is it still possible in 2018 that omnichannel divides the top management of Van de Velde, a luxury lingerie company?
This news headline kicked off our BrainTower event of last week where we invited Amaury Rosier and Christian Remon to guide us through today’s e-business landscape. They are the founding partners of G-Convert and their message is clear: you don’t absolutely have to do e-business, but at least give it a very serious consideration. To help us cope with the challenges and pitfalls of this decision, they identified 6 major challenges to consider.
1. E-business is not for me
This is the first reaction of many executives in various businesses. At first sight it may seem your activity isn’t suited for e-business. But don’t go making assumptions without careful consideration first. It turns out that absurdly expensive diamonds are sold to consumers online. We use AR to choose a new sofa while standing in our living rooms. Even concrete is sold online. So why couldn’t your business become an e-business?
2. GO BIG OR GO HOME
It is common knowledge that Belgium is late to the e-business game and figures show it. This makes for the unmistakable message to go big or go home. A late entry means a high entry fee. Making it essential to have the right people and the right skills available. In order to design a long-term profitable business model, the key is to start with your talent and make it big.
3. Where to put your money?
Today’s world is an omnichannel world. This can be confusing in terms of where to focus your investment. Most important is to engage with your customer whenever and wherever they expect it. To be relevant, you want to match the rising expectation of your digital customers. Whenever you’re in Antwerp, visit Hunkemöller, you’ll see what they mean.
4. Attract, convert, loyalize the right consumer
Attracting consumers to your website is the first necessary step. Then you need the right mechanisms in place to help them convert. But the real value lies in loyalizing your customers.
5. Choose the right technologies and partners
There are endless possibilities when it comes to technology for commerce & sales. When choosing the technology, you don’t have to start with the biggest, most expensive tech. As long as it’s the right one, fitting your needs.
6. Structure and organization impact
Two very important trade-offs have to be made when it comes to marketing and e-business. The first is centralize vs. decentralize with the first trying to benefit from scale while the other is all about increasing the speed at which we operate. Neither of the two is better, every marketing organization will have to balance between both. The second trade-off is whether to automate vs. humanize. The first is about turning marketing technology in a competitive advantage. But you’ll also need the human touch to keep your brand authentic. So again, both ends of the spectrum will have to be carefully balanced. Of course, these trade-offs have significant impact on you structure and organization.
G-Convert is the brainchild of Amaury Rosiers and Christian Remon. They are a Connected Commerce Agency with deep expertise in e-business and the digital world.
Thank you very much to G-Convert for sharing some of their insights with the audience during our Braintower event.