Why brands need an ecommerce & product strategy
The pandemic accelerated ecommerce evolution. These days, it’s as crucial for ecommerce companies to differentiate their digital retail experience’s quality as it is to differentiate on product or price.
If you can create a seamless purchase journey, you can encourage engagement and increase market share. But only if you know what your customers really want. You need a strategy driving your product, pricing, channel, and marketing decisions to know how you can deliver what your customers want.
Benefits of planning your ecommerce from the ground up
Markets are crowded. Simultaneously, more ecommerce marketplaces are emerging. Emplicit can help you find your place in them and stand out from the competition:
- We can create a holistic digital retail experience catering to your customers’ specific purchase journeys–taking your products to them rather than expecting them to come to us.
- By identifying product and promotional strategies before you launch, you can use your sales trends to be more responsive.
- Omnichannel ecommerce solutions provide cost efficiencies for operations and marketing.
- Open up new markets and audiences by aligning products with marketplaces.
Emplicit’s ecommerce & product strategy process
Emplicit a data-driven approach to strategy: we observe, analyze, and learn. Once we understand the whole picture, we build a strategy that will elevate your ecommerce.
Brand & product discovery
Our team digs deep into your brand and products. We define your products’ strengths and weaknesses, plus your objectives and key performance indicators. We produce a business requirements definition and measure everything against it.
The strategy begins with defining the target audience through detailed personas: what do they want from your products and why, how do they use them and how often, and what do they want from your digital experience. Essentially, knowing what makes them tick. We use a range of inputs including customer research, profiling data, analytics, social listening, user testing, online reviews, and Q&As.
Market & competitor analysis
No business operates in a vacuum, and we take your competitors seriously. Understanding what products the competition offers and how they meet or don’t meet customer expectations helps identify gaps and opportunities we can exploit.
In this stage, insights turn into actions, and the team turns the research into a concise ecommerce plan. The go-to market strategy is a step-by-step plan to ensure a successful launch. It will include:
- Product and category recommendations
- Pricing and promotion recommendations
- Marketplace and platform selections
- An approach for warehousing, stock management, inventory forecasting, shipping, delivery and returns, and related logistics
- Customer support and channel recommendations
- Tracking and reporting structures
Because we run clients’ ecommerce stores, we know what you’ll achieve in-house and what you’ll need our support on. We tailor our level of support to your needs and remain on standby to offer implementation guidance.