E-commerce: Innovations and trends in content management and customer experiences
Trends in e-commerce change in the blink of an eye, so businesses need to constantly adapt if they’re to remain competitive
In a recent Bynder session, Johan Boström, co-founder and chief customer ambassador at inriver, and Bynder lifecycle marketing director, Dónal Ó Mearáin, had a lively discussion about how marketers can unite technology to build a seamless path to purchase. They talked about the significance of delivering such experiences and explored how some of the innovations in content management can be a definite game-changer for companies in the e-commerce landscape.
1. Time-to-market matters
In the world of e-commerce, time-to-market is a make-or-break factor. The faster products and content are made available to customers, the higher the chances of increasing revenue and customer satisfaction. It is simple: if a company can cut the number of days before their content is published, it will deliver revenue.
Having assets stuck in production but not yet ready for publication is all-too-common for marketers. There is more to this process though. Johan Boström explains: "The work is not done when you have published your assets. In fact, you are never done. Your content must constantly be updated to address changing needs, and optimized for each touchpoint. And this might be even more complex than the initial production process.”
But to keep control, companies need an efficient process, not just to produce, update, and optimize content, but also to keep costs down. Johan continues: “We need to understand where, for example, it is effective to produce content and where it does not make sense. If you do not know what works, you will just continue to produce content that you don’t need.”
Reduced time-to-market is not just about being fast but also about being efficient; measuring and streamlining content creation and distribution processes can be the key to a faster time-to-market. Businesses are now turning to smart tools like a digital asset management system to significantly speed up the process of curating relevant content for each customer.
2. Content relevance and personalization
Personalization is the buzzword in e-commerce. Today, consumers expect a personalized shopping journey that caters to their unique preferences and needs. This not only improves the chances of conversion but also enhances customer loyalty.
Content relevance is at the heart of this. This is where AI-driven personalization and ‘searchandising’ engines come into play as the unsung heroes of content relevance; where the search functionality on an e-commerce website or platform not only helps users find products through search queries, but also strategically promotes and displays products in a way that maximizes sales and revenue.
By harnessing the power of artificial intelligence, these tools analyze vast amounts of customer data, from browsing history to past purchases, to serve up tailored content recommendations. Johan stresses the potential of this technology: “Customers need optimal navigation, presenting them with the right products faster. Companies should feed their ‘searchandising’ engine straight from the DAM, so they can learn everything about how customers interact with the content.”
This will provide valuable insights into the effectiveness of assets. “If you know exactly what your customers need and want and what makes them purchase, you can optimize content even faster and more precisely.”
This means that a customer who is searching for running shoes, will not only be shown running shoes but also related products like sports socks, fitness trackers, and even personalized training plans. It creates a holistic shopping experience, increasing the likelihood of the customer making multiple purchases.
In this age of information overload, ensuring content resonates with individual customers is the key to capturing their attention, increasing engagement, and ultimately driving conversions. As a result, investments in technology like DAM, that streamline the creation and distribution of personalized content experiences are becoming increasingly critical as they continue to drive sales, brand awareness, and trust while reducing costs.
3. The expanding horizon and the role of DAM and PIM
E-commerce is no longer just about selling products online. Content plays a pivotal role in service and post-purchase experiences. Brands that continue to engage customers with valuable content even after the sale are more likely to build long-term loyalty. Consistent content becomes the bridge between the customer's purchase and their ongoing relationship with the brand.
Providing customers with valuable content, whether it's educational articles, how-to videos, or interactive guides, and keeping them engaged not only helps retain existing customers but can also lead to word-of-mouth referrals, driving organic growth.
When asked about the seamless path to purchase and beyond, Johan says: “We see more and more non-commerce-related use cases. For example, we see Salesforce Service Cloud coming up, because customers who have bought equipment or service technicians who are going out servicing equipment also need content. These use cases are really important from a content perspective as well.” Digital asset management (DAM) and product information management (PIM) systems play a crucial role in this strategy.
DAM and PIM systems centralize assets and product information, making maintaining consistency across various touchpoints easier. They also enable automation, reducing manual errors and speeding up content production. This means marketing teams can focus on creativity and strategy, while technology takes care of the groundwork.
As Dónal stresses: “The right tech stack takes away the manual work so that teams can focus on the things that directly drive revenue, and make better business decisions. The value of DAM and PIM together is really what we're talking about in particular when you are trying to win in the digital or omnichannel space.”
4. Integration is key
To unlock the full potential of content management, businesses must integrate technologies across the digital ecosystem. These integrations provide a holistic view of content and customer data, enabling more informed decision-making and better customer experiences.
Innovations like AI-driven personalization, DAM, and PIM systems, and seamless integration are the tools that can help businesses thrive. Marketers and CMOs should embrace these innovations to stay competitive and deliver exceptional customer experiences.
Unsurprisingly, most companies intend to focus on such investments. In our State of Content Report 2023, we found that the majority of marketers worldwide (69%) consider investments in content creation, management, and distribution a tactical decision to safeguard their finances during uncertain times. Companies operating in both the B2B and B2C sectors report the highest rates of strategic investment in content, with 86% of CMOs planning to maintain or increase investment.
Reducing time-to-market, ensuring content relevance and personalization, expanding content's role, utilizing DAM and PIM systems, and integrating technologies across the digital ecosystem are key steps toward unlocking the potential. As the future of e-commerce hinges on delivering seamless customer experiences.
Learn more about the value of DAM and integrated technologies, and make your business thrive.