New report examines digital commerce adoption, strategy, and roll out across enterprise level B2B and B2C businesses.
Verndale, the Marketing Technology Agency that is pioneering the way people and brands connect, today unveiled the “2016 Digital Commerce Report: Strides and Shortfalls in Strategy and Implementation,” a report examining digital commerce across organizations with at least $50M in revenue.
According to the research, most B2B and B2C organizations have a commerce system in place, but the strategies behind those systems are lacking and execution is not yet optimal.
In the era of Amazon, digital commerce can’t be ignored. Today’s commerce-driven marketplace is filled with consumers who hold expectations for seamless, intuitive and relevant brand experiences, and that includes their path to purchase.
Whether selling direct to consumers, through resellers or direct to businesses, digital commerce has the ability to deliver a unique piece of the customer engagement cycle that brings with it big rewards.
The report highlights that the majority of U.S. enterprise businesses understand the importance of digital commerce systems, but do not have comprehensive strategies in place that encompass all channels.
While digital commerce has risen in its importance and demonstrated its ability to deliver value in the market over the past decade, most organizations are still unsure how exactly to leverage its potential.
Additional insights from the report include:
- 45 percent say managing the IT platform is the biggest day-to-day challenge associated with their commerce strategy and program
- Only 25 percent strongly agreed that their organizations have well-conceived, comprehensive cross-channel commerce strategies
- 41 percent of organizations plan to implement a commerce system in the future, while 51 percent already have one in place
- 68 percent of organizations say they will focus primarily on incremental enhancements to existing systems, while 25 percent are embarking on large transformational projects
The research uncovered that enterprises see weak execution of digital commerce due to a lack of employee expertise as well as the complexity of managing an IT platform that is both secure and scalable.
That said, the resources are being put toward getting digital commerce sorted out.
Investment in digital commerce is a focus across organizations this year with the report stating that it will encapsulate 11-30 percent of both the 2016 marketing and IT budgets.
Jeff Pratt, Commerce Experience Practice Director, Verndale, said,
Enterprises today must be laser focused on the customer journey if they want to succeed, and commerce is a critical part of that experience. There are a lot of organizations who feel they have checked the digital commerce box but are just now finding their approach does not encompass all channels and often isn’t delivering the value customers want and expect.
2016 will be the year that enterprises look to refine their digital commerce approaches and begin to see how successful execution can lead to big improvements to their bottom lines.
As commissioned by Verndale, Berg Research surveyed 120 executives (from companies with 500 to 5000 employees and $50M to $1B in revenue) who are involved in the marketing and IT decision making.
The “2016 Digital Commerce Report: Strides and Shortfalls in Strategy and Implementation” is available for download here.
Verndale is the Marketing Technology Agency that brands call when they want to connect with their customers in a more meaningful way. It designs, builds and evolves digital experiences that mid-sized and Fortune 500 companies use to bring their products and services to life for their always-on customers.
Offering unparalleled strategy, experience design, technology and post-launch managed services, Verndale works across departments and platforms to create and sustain cohesive experiences that both marketing and technology leaders love.
One of the largest independent agencies in the industry, Verndale is headquartered in Boston with five additional offices across the U.S.