As omnichannel retail and social commerce trends continue to shape the business landscape, some industry leaders argue that focusing on enhancing their own websites can lead to increased conversion rates, customer loyalty, and lifetime customer value. Janvi Shah, CEO of Boston-based e-commerce company Hue, emphasizes the enduring importance of a brand’s own digital platform, asserting that while various platforms may come and go, a consistent online presence remains essential. Shah highlights the pivotal role websites play in customer research, even if the final purchase occurs on a different channel, stressing that investments in a brand’s own platform can have a positive ripple effect across different channels.
Incorporating artificial intelligence and innovative site design offers fresh avenues for retailers to engage with their audiences and unlock long-term advantages. Here are five ways B2B businesses are revolutionizing the e-commerce landscape:
- Harnessing User-Generated Content for Enhanced Conversion Hue, based in Boston, proposes an enhanced implementation of user-generated content (UGC) to boost conversion rates. The company empowers clients to seamlessly integrate video reviews from customers into their website landing pages, product pages, and social media platforms. By leveraging Hue’s technology and a community of content creators, brands can elevate customer engagement, driving sales and improving user experience. Video reviews provide an authentic and trustworthy medium, leading to a notable 127 percent increase in on-site engagement, according to Shah.
- Enriching Product Discovery with AI-driven Image Recognition Lily AI, a California-based startup, addresses the challenge of aligning customer language with product descriptions. By utilizing image recognition technology and artificial intelligence, the company enhances product attribution with accurate, customer-centric keywords. Lily AI’s solution accommodates subjective customer searches and has demonstrated success in increasing site conversion rates and average revenue per consumer. The platform, trained on a vast dataset, offers tailored recommendations to unique visitors, bridging the gap between user preferences and product offerings.
- Interactive Virtual Storefronts for Engaging Online Experiences Obsess, operating in New York City, focuses on elevating the online presence of retail brands through interactive virtual storefronts. Designed for both mobile devices and browsers, these immersive experiences drive engagement, extend time spent on the site, and gather valuable first-party data. By integrating gamification and quizzes, brands can extract insights into customer preferences and optimize the user journey. The increased engagement translates into deeper customer relationships and improved brand affinity.
- Strategic Upselling through A.I.-Driven Checkout Flow Rokt, headquartered in New York City, leverages artificial intelligence to optimize the checkout process for upselling opportunities. By offering relevant promotions and offers during checkout and on order confirmation pages, Rokt assists retail businesses in capitalizing on customers’ willingness to make a purchase. Through intelligent targeting, Rokt ensures that offers resonate with customers, enhancing their experience without risking cart abandonment. This approach has proven successful for brands like Panda Express, boosting revenue and customer loyalty.
- Focusing on the Digital Frontier for Sustained Growth Neha Singh, founder of Obsess, emphasizes the significance of refining online presence, even amid investments in in-person strategies. Obsess specializes in designing interactive virtual storefronts that facilitate engaging and memorable brand interactions. By leveraging these touch points, brands can deepen their customer connections and gather valuable insights to drive long-term success.
While evolving retail trends continue to shape the industry, these innovative strategies underscore the pivotal role that technology and customer-centric approaches play in enhancing customer experiences, boosting sales, and fostering brand loyalty.
By Impact Lab