With current market uncertainty and external forces affecting the way businesses have to operate, companies across the board are wondering what they can do to continue business as close to usual as possible, retain customers, and drive revenue.
So how can businesses do this while keeping an eye on costs? They can begin to look at opportunities to increase efficiency and stay connected with their customers. The common denominator is to create a digital channel. This enables businesses to respond to customer purchasing needs as workforces move remote, supply chains are strained and demand wanes.
We asked our Commerce Practice Lead John Brumbaugh a few questions to learn how businesses can begin to move to digital, or embrace it more, during these times of market uncertainty.
Q: How can businesses ensure customers can easily make purchases from the safety of their home?
A: Businesses with an online storefront should focus on what they can control:
• Make sure product content is up to date and accurate
• Make sure products are discoverable especially those that might be of increased importance during this time
• Highlight clearly and concisely what products are out of stock and when they will be back in stock, if known
• Ensure you are still providing fair pricing for products, buyers will absolutely remember this later
Q: If organizations don’t have an online channel, launching one doesn’t happen overnight. What are short-term steps businesses can make toward an eCommerce strategy?
A: Open up your customer service and sales organizations to take phone and email orders. Once this rush is over, then focus on determining the best path forward to build out your online channel using information gathered from orders placed through offline channels.
Q: What can businesses learn from this external force impacting their business?
A: When external forces impact your business, the need to be agile to respond to them is highlighted. If your business or technology stack cannot make adjustments quickly, it might be a time to look at how you can change your infrastructure to provide more flexibility in the future.