The digital marketing landscape is ever-changing. It's more critical than ever for enterprise-level retailers to harness the power of technology to remain competitive.
Devising a digital transformation strategy necessary to evolve and grow your brand can seem challenging. Below, we discuss some of the best practices and trends that some of the most innovative retailers are starting to roll out now to ensure they secure increased market share and revenue growth in the not-too-distant future.
In your work for a medium or large-sized retailer, you've probably heard the digital transformation thrown around a lot as the most critical key to your company's continued success. However, you may be unclear about what this process entails.
This terminology refers to a calculated, strategic enterprise-level process of change in which retailers compare their existing operational capabilities and information technology (IT) infrastructure to what they need in place to achieve desired results.
When devising a digital transformation strategy, company leadership must keep two key details in mind. These are creating a sustainable schedule for implementing changes and ensuring selections made have the highest potential for the best results.
Fortunately, a recent article published by Forbes highlighted how an increasing number of companies are allocating millions of dollars to their digital transformation initiatives, and a significant percentage of those projects are experiencing a high payoff.
There's valuable insight that retailers who haven't yet instituted a digital transformation strategy can stand to learn from those that have. Some initial nuggets of information that have emerged from trailblazing retailers who've attempted to get ahead of the fray include:
Catchy Content Doesn't Always Sell
One valuable piece of insight that has emerged among retailers who have already invested in their digital transformations so far in 2022 is that trends or viral don't always result in sales conversations. For many industry analysts, this has to do with wordplays and more viral tactics making it challenging for consumers to understand what is real and what is hype.
Research shows that brands' digital initiatives most apt to appeal to consumers are ones that are instead ones that have a tie-in to the metaverse and are sustainable.
How Does the Metaverse Figure Into the Digital Transformation Space
The metaverse is slated to be a critical component of virtual shopping in the future. In fact, some of the largest retailers, such as Crate and Barrel, have already hired in-house executives to help them get ahead of this digital transformation trend.
Some examples of early adoptions of metaverse-positive digital strategies retailers have employed include Gucci's founding of a digital marketplace they refer to as a "plaza" where customers can interact with one another around their shopping. Nike has also tested the proverbial metaverse waters recently by launching the first-of-its-kind digital footwear collection.
How Augmented Reality Is Shaping Retailer's Digital Transformations
In recent years, brands have felt increasing pressure from consumers looking for a more engaging virtual sales experience. Augmented reality glasses are just one example of how brands have been able to reach their customers on a multi-sensory level as opposed to the one-dimensional image that a computer or mobile device screen made possible before.
Recent research shows that 46% of consumers appreciate the life-like product experience that technology like augmented reality affords them.
Here at Dotlogics, we've helped some of the biggest brands re-envision their branding necessary to create websites that consumers can't resist.
Branding and web design are far from being static concepts, though. They're dynamic.
Rest assured that we're aware of the ever-changing trends in our industry and are keeping tabs on yours. Let us help you implement the technology changes now that will catapult your success into the future.