Maximise your Digital Commerce ROI
Prior to launching Entropy Alex led the UK & Ireland Media & Marketing Services team at Unilever where he managed the Marketing Services team and was responsible for communications planning across their portfolio.
Find out how your company compares to your competitors with Entropy’s Digital Commerce benchmark
What is Digital Commerce?
“Digital Commerce” is a term increasingly being used to describe the intersection between eCommerce and supporting functions such as Marketing, Supply Chain, Data and Analytics.
As we all know technology is changing the face of retail, with emerging technologies in the palm of shoppers’ hands, on their wrist watches, or as part of some other connected device. As almost one in four online purchases are now made on smartphones, consumers expect seamless customer experiences online and offline. In addition to personal devices, The Internet of Things and AI will automate the entire shopping process with in-home devices such as SMART appliances and Voice assisted devices, which will serve information and collect data to help complete frictionless purchases.
How and why has eCommerce evolved into Digital Commerce?
Many companies have shifted away from a solitary eCommerce focus as it offers limited brand execution, and extremely limited data. They are embracing digital commerce as a more holistic way of operating in the connected world we live. Employing a digital commerce approach is allowing them to generate demand, optimise their supply chain, enhance their customer experience and gather 1stparty data to better understand and serve shoppers.
In order to compete effectively and meet with shoppers’ increasing expectations supplier brands are having to evolve operations and processes away from traditional channels and embrace digital commerce models.
The Entropy Digital Commerce benchmark has been developed by observing best practice across many market leading brands in order to serve as the gold standard for both established and challenger brands.
How does it work?
Through taking the benchmark brands can identify and address under-performing areas relative to their competitors. From brands we’ve worked with benchmarking also helps significantly with internal education which is often the most challenging part of integrating Digital Commerce integration into existing business processes. There are often very few senior level executives who support the Digital Commerce agenda. Having a clear line of sight to how competing brands are evolving their business and taking a lead is often the best way of bringing senior leadership on the digital commerce journey.