Each one of us has had to pivot in the last few months and find ways to navigate massive disruption. In digital commerce, disruption may be the status quo, but the keys to success during any transition are the ability to be flexible, agile and creative.
Today’s climate makes the value of being nimble abundantly clear. To grow during unpredictable times, your business needs the flexibility to serve new needs, broaden your reach, test new strategies and scale for minimal effort and cost.
When we built Oracle CX Commerce, our goal was to enable B2B and retail brands to quickly pivot in a dynamic, complex and rapidly changing market. Turns out that our customers are doing exactly that!
Here are 5 ways Oracle CX Commerce customers have expanded their commerce footprint.
1. Expand what you can handle. There has been an unprecedented surge in online traffic as buyers adjust to how they purchase. With store closures and shelter-in-place mandates, consumers are staying (and shopping) at home in mass. With B2B, buyers need self-service to keep their businesses moving. This digital shift as the core of business growth is not going away.
A food distributor had site traffic increase 205% from February to April 2020 after increasing focus on direct-to-consumer sales.
A retail customer saw average online daily sales increase 677% from February to April 2020 after temporarily closing retail storefronts.
For our customers, serving a much larger online customer base overnight doesn’t mean buying servers, installing software or stressing about uptime. It means Oracle takes care of it, elastically scaling to accommodate major increases in traffic volume without any disruption to site performance. Our customers’ focus is solely on supporting their customers’ experience while CX Commerce makes them able to sell more and increase revenue.
2. Expand your business using what you already own. Optimizing existing channels is important, but real growth comes from seizing opportunities when the market inevitably changes. Traditional business models are being disrupted. Distributors are temporarily closing their storefronts, therefore B2B manufacturers are selling direct to buyers. Same applies to consumer sales, where brands are going direct to shoppers as retail partners deal with store closures and uncertain futures.
Meanwhile, our customers are creating new revenue streams on demand by leveraging their existing site. They can run B2C and B2B shopping experiences using the same platform. This means that to provision a new site, the brand can leverage and share existing layouts, widgets, catalogs, assets, customer profiles, merchandising rules, promotions and more. Launching a new site happens in hours and means re-using existing skills, components and integrations, and customizing what’s needed to distinguish the experience.
Rapid site expansion also includes new brands, test programs, channels and locations. Retailers can launch pop-up shops, sub-brands, and test subscription programs using what they already own in a single instance of CX Commerce.
3. Expand your global presence. The ability to reach new markets fast opens up incredible opportunities for growth. If your organization sees an opportunity to bring products or services to a new part of the world, CX Commerce can customize an existing site and expand to a new country by supporting over 40 languages and 60 currencies with flexible payments options around the world.
Numerous CX Commerce customers have quickly achieved a global presence, reaching new levels of profitability by serving new regions without starting from scratch. A single, centralized team can support global operations. Or, distributed teams can share components among themselves.
4. Expand HQ-level productivity. Today’s work-from-home mandates are fueling tomorrow’s more-remote workforce. A huge benefit of the cloud is accessibility. Remote workers can access the same tools and perform the same tasks from anywhere, and productivity doesn’t lose a beat.
With cloud-based commerce tools, business users can immediately update experiences to reflect changing circumstances, or, update site elements to capture opportunities. Business users can do it all from anywhere.
Expanding your team is important. So is attracting new talent that can work from anywhere. CX Commerce is a modern, API-first platform that leverages micro-services and standards-based languages. This means you can cast a wide net and easily expand your team when looking to hire. No proprietary skills or languages are required.
5. Expand 1:1 experiences. Retail and B2B commerce teams are striving to maintain normalcy for customers while stores and supply chains are disrupted. If a buyer’s experience is frictionless in a time of need, you may win a customer for life. CX Commerce allows business users to scale responsive selling experiences that adapt to every buyer, in real time. Enriching lifetime data with live buyer clicks and supplemental behavioral data, sellers can deliver a bespoke experience to every single buyer, wherever they’re purchasing.
Personalization at scale is made possible by a balance of automation and hands-on control. Scaling targeted experiences to anonymous and known shoppers makes them feel known and values their time – and pays off big for sellers.
A CX Commerce customer has recently seen its AOV increase 45%.
Whether you run a B2B commerce program and need custom catalogs, offers, pricing and workflow, or are a B2C brand looking to deliver targeted product recommendations and offers, CX Commerce expands the group you deliver 1:1 experiences to include everyone.
Buyers are used to getting what they want, on their terms. From here on out, digital commerce will be their go-to choice for purchasing. Commerce organizations need the agility of a young startup, even if they’re a generations-old company. In stable and unpredictable environments, there’s huge value in controlling costs and uptime while launching new revenue streams. Today’s winners are reliably delivering responsive selling experiences at scale. Those struggling will have to keep pivoting.
To learn more about how CX Commerce is impacting our customers’ businesses, head over to Oracle Customer Connect. (registration required)
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