The commerce or retail market is very much driven by customers. Customers drive purchases, reviews, and recommendations. If customers do not receive the kind of service they expect and get the kind of experience they want to have, chances are they will abandon a transaction.
This is especially true of potentially new customers. According to a Help Scout report, “It is six to seven times more expensive to acquire a new customer than it is to keep a current one.”
This is far more evident in e-commerce and retail businesses where the ratio of those abandoning their shopping carts is a staggering 78%.
What can be done about this?
The solution is quite simple.
An integrated framework of content and commerce must be put into place. This allows businesses to improve their customer experience particularly with an impatient or unhappy customer.
A seamlessly integrated digital content and commerce platform allows businesses to manage customer data and content from a single repository.
Here are 5 important benefits of integrating content and commerce:
#1 Automate the abandoned cart.
Having an automated mechanism for abandoned shopping carts will help to ensure fewer abandoned carts, thereby improving the company’s bottom line.
#2 Contextualize marketing to personalize the experience.
The marketing content must deliver a personalized experience, telling the customer that you know them very well.
#3 Using pricing engine capabilities.
Deliver a seamless omnichannel experience by leveraging various price engine capabilities and implementing specific tactics that focus on customer preference.
#4 Develop targeted promotions.
When promoting a product, develop a targeted promotion so that you can deliver a 360-degree view to your customers.
#5 Implement end-to-end engagement tools.
With an integrated content and commerce function, you can help to engage customers for life if you provide an end-to-end experience through various tools.
If you are interested in knowing more about the benefits that an integrated content and commerce function can provide, click the link below for more information.