October 10, 2018
The State (and Future) of Digital Marketplaces
There are 3 levers businesses can use to compete with each other. They can be cheaper, they can have unique intellectual property, or they can provide an exceptional customer experience.
Brands can master one, maybe two of these areas, but to do all three at once is extremely difficult.
For many e-commerce properties, competing on price isn’t practical, especially when stacked against Amazon. Even having unique inventory and intellectual property is a challenge given the vast selection of products from industry leaders.
This leaves businesses with one last lever—the ability to deliver exceptional customer experiences. Delivering this can be easy, but many brands are actually failing. Why? They create a frustrating experience by over-messaging their consumers with irrelevant, impersonal communications. Consumers are sick of it:
But it doesn’t have to be this way. Brands can start delivering relevant, personal communications and thus also deliver an exceptional customer experience. The answer is to invest in AI-powered tools that help brands speak to consumers as the individuals they are and breathe new life into the customer experience. As a result, brands are able to build stronger connections with consumers and increase conversions by 150%.
Investing in AI-powered tools is just one part of rethinking the customer experience and how to better engage with consumers. Let’s take a look at all 4 elements of meaningful customer engagement:
Want to dive deeper? Hear Sameer Patel, CEO at Kahuna, and 3 leading B2C marketing pioneers discuss the 4 elements of meaningful customer engagement. Simply click the button below!
A Bi-Weekly Newsletter Focused Exclusively on Online Marketplaces