Retailers see triple-digit gains
February 2019, Retail (Industry), Integrated Solutions, IT infrastructure
Thirty-five percent of shoppers feel today’s brands do not care enough about personalising their shopping experiences. However, when retailers do invest in personalisation it pays. This is according to a Total Economic Impact (TEI) study conducted by Forrester Consulting on behalf of Episerver.
Bluegrass Digital, an Episerver solution partner and a digital transformation specialist, points to the study that found that Episerver Digital Experience Cloud’s AI-powered personalisation produces, on average, 5% incremental conversion improvement and 5.5% incremental basket size improvement, amounting to over 10% possible revenue uplift from personalisation alone.
On the whole, the study concluded that customers using Episerver Digital Experience Cloud, see a 443% return on investment (ROI) in three years.
Nick Durrant, Bluegrass Digital CEO, echoes the sentiments of Episerver that the sum of all parts equals an unmatched ROI for customers on Episerver Digital Experience Cloud. "When one starts to break down those figures, it proves that by using real-time and historical behaviour to personalise product presentations, calls-to-action and messaging, digital commerce leaders and retail merchandisers benefit from increased units per order, average order values (AOV) and conversion rates on Episerver."
"Is your company losing money because it is ignoring what online consumer behaviour really means," he asks. "Many companies are too focused on counting conversions instead of understanding why browsers became buyers, and what happened to the majority who did not."
Durrant says as consumers gather information about products and services, companies have multiple opportunities to engage with them. “Through experience-driven commerce, companies can gain their trust, create connections and impress them by truly responding to their online consumer behaviour.”
Personalisation pays off and Episerver provides an easy, smart way to get started on every channel. Retail organisations can extend personalisation to improve experiences and business results online and in-store by integrating with their preferred enterprise resource planning (ERP) or customer relationship management (CRM) solutions.
"For example, Episerver delivers out-of-the box connectors for Dynamics 365, AX and NAV as well as Dynamics 365 CRM – all backed by Microsoft Azure," he adds.
The power of personalisation is that it pays dividends for customer experience and company outcomes. Microsoft’s solutions enable retailers to provide their customers with a seamless, personalised shopping experience, and Episerver Digital Experience Cloud, available on Microsoft AppSource, supports the critical areas of personalised execution and commerce delivery online.
To meet savvy shoppers’ needs for smarter online experiences, retailers are turning to Episerver to help transform their digital infrastructure. Fast-growing furniture retailer Living Spaces re-platformed to Episerver Digital Experience Cloud from a home-rolled digital commerce system, resulting in a significant increase in net new users, growth in AOV and an increase in conversion rates in the first seven months after launch.
“Thanks to Episerver and our partner Luminos Labs, Living Spaces was able to quickly see results from our re-platforming project that better serves the needs of our customers,” said Pete Franco, Vice President of Ecommerce at Living Spaces. “We’re continually pushing the envelope of what digital and in-store experiences should feel and function like, to give furniture shoppers the confidence they need to make the best purchases for their homes and offices.”
“From a business standpoint, the launch of the new infrastructure was overnight, with no downtime and no measurable negative impact on relevant website functions, allowing us to transform our digital commerce experience with no lost time,” he concludes.
For more information, go to www.bluegrassdigital.com