Global lockdown measures as a result of COVID-19 have aggressively shifted consumer behaviour, and the transition from offline to online sales is now five years ahead of expectations. As more brands and retailers shift their focus to online sale channels, they should create a roadmap for growth for their digital channles to provide strategic direction.
Added benefit from making such an investment comes from quick-win actions taken from reviewing your online or omnichannel operation that will generate a return on investment.
As experts in providing this type of assessment for retailers and brands around the world, members of our senior leadership team have answered some of the most commonly asked questions on why and how to create a roadmap for growth.
General Manager for MENA, David Quaife believes your roadmap for growth should first help to build the understanding of the current business capability, what the market opportunity is, what growth can be achieved and what is needed to get there, in order for it to be successful.
This can include an assessment of various areas of your business – such as digital marketing and SEO, site experience, customer service proposition, product, merchandising and omnichannel customer experience.
Discovering what needs to change internally within the business in order to achieve the desired growth targets by examining your operating model and processes - as well as your supply chain and technology - is critical.
Director for ANZ, Stacey Hyland explains the five deliverables in a roadmap produced by Pattern:
Stacey Hyland explains how the five elements work together: “Once existing capabilities have been audited against best practise criteria and market data has been analysed to understand where opportunities lie, a strategic commercial plan can be outlined in agreement with key stakeholders."
"This commercial plan will provide a one-year forecast including fully potentialised investments and conversion rate improvements, which are then prioritised and defined into an action plan for your business to execute against.”
Your pre-determined commercial plan should highlight the potential ROI expected from your improvements.
Principal Consultant Stephanie Firth explains: “This will vary by brand but typically the ROI tends to come from improvements made to the customer journey plus improvements from the effectiveness of marketing and the online shopper experience, as these are the areas that show quick results.”
Stacey Hyland explains: "It depends on the business. Some clients have a lot of low hanging fruit but they may not be able to move quickly on because of platform, people or process barriers. On the flip side, some businesses have already implemented the quick wins and need to focus on the longer-term strategic changes in order to make the next leap. Each roadmap is tailored to where the business is at in its multichannel journey and its capacity and capability to execute initiatives."
Despite the fact that retail stores have reopened, recent consumer surveys show that 42% of people now say that they will shop online more frequently post-lockdown. Brands and retailers must closely assess their online sales channels, to ensure that they are associated with excellent online selling experiences.
Principal Consultant Stephanie Firth explains the importance of investing in a roadmap for growth in 2020: “As many brands and retailers suffer a loss of sales due to COVID-19, it’s more crucial than ever to ensure that your budget is being spent efficiently, that you provide your consumers with a great experience so they continue to return, and that you make sure your roadmap is fit for the times we’re living in.”
“With this in mind, it’s vital that a plan is in place to mitigate the impact of a second wave of COVID-19 as well as longer-term impacts to the economy.”
Stacey Hyland concludes: "A thorough roadmap for growth will not only help to determine how online strategies need to change to meet new customer needs and behaviours, but also how to exploit opportunities created by the new post COVID-19 way of life and acquire new customers."
To discuss how we can help to define your digital roadmap for growth, please get in touch at UK@Pattern.com
Find relevant content to accelerate your ecommerce business. Stay on top of industry trends and best practices.
Entering the ecommerce landscape is a huge undertaking for any brand—it usually requires a large investment in resources and expertise to really be successful. Any brand can quickly get in over their heads trying to navigate the nuances of SEO, fulfillment and logistics, distribution control, listing optimization, and meeting the numerous other requirements and administrative tasks to show up well on marketplaces.
Unfortunately, because it’s so easy for third party, gray market, and unauthorized sellers to obtain and sell products online, many brands find themselves pressured to execute an ecommerce plan without the right resources to succeed on marketplaces and their other channels.
So, for brands looking to enter the ecommerce space or improve their current and future performance, it makes sense to partner with an ecommerce consultant.
Pattern’s global presence and proven success with hundreds of brands has allowed us to develop highly effective ecommerce consulting services. We can guide your brand to navigate issues both large and small in marketplaces worldwide. To maximize your ecommerce efforts, you’ll need to understand what an ecommerce consultant does and how to select one who drives the right value for your brand and products.
An ecommerce consultant is a specialist in the ecommerce space who can give you personalized guidance on how to market your products and grow their presence on digital marketplaces.
An ecommerce consultant should be able to analyze your brand, audience, category, opportunity, and current roadblocks and help you understand how to utilize your resources (or what resources are missing) to be most effective in capturing your opportunities in the ecommerce space.
Not sure how to evaluate a consultant? Here are 4 key attributes to look for as you make your choice.
At Pattern, we prioritize brand obsession for a reason—we know that a brand-centered mindset makes a crucial difference in the outcomes and results our partners achieve. So in our experience, when you begin your search for an ecommerce consultant, it’s important to look for a partner who is specialized in ecommerce, invested in the product, and passionate about helping brands build and improve their strategies. Typically, this means finding someone that consults exclusively for ecommerce marketplaces, rather than choosing a consultant who offers many different services.
It’s also important to avoid choosing a consulting partner who can’t deliver the right experience for your brand. The best indication of whether your potential consultant can do that is to review their history, data, and results with other brands. Ask if they’ve helped others in your selling category, if they’ve solved specific issues your brand is facing, and why they feel you are a good fit. The key is to leave the conversation feeling confident that you understand your consultants’ capabilities and whether or not they match up with your needs.
It’s best to pick a consultant who knows how to guide a brand onto and through multiple marketplaces worldwide. You’ll want to take a look at your long-term strategy and think about the regions and platforms you’re currently on and where you might want to take your brand in the future. If your consultant is truly great at what they do, they’ll be able to help you perform well enough with your current product roadmap that it’ll be a no-brainer to expand your presence at the right time.
The most effective partnership with an ecommerce consultant will be able to give you both recommendations and point you to solutions for making those changes in your planning, processes, and execution. Your time and money is valuable, so you want to make sure that you’re spending it as efficiently as possible as you follow your consultant’s advice. So, before you commit to an ecommerce consultant, ask about the resources and concrete solutions they typically recommend to the brands they work with.
Finding an ecommerce consultant that checks the boxes can be a difficult task. At Pattern, our entire focus and drive centers around giving brands the tools and resources they need to succeed on domestic and international ecommerce marketplaces.
With over 100 global ecommerce consultants across 10 global offices, we have the right tools to partner with brands across the world to achieve better ecommerce success. We give specialized advice, then make sure our partners have all the adequate SEO, social media, CRM, Amazon multi-channel fulfillment services, and ecommerce outsourcing services they need.
Interested in ecommerce consulting services? Set up a call here to learn what Pattern can do for your brand on global marketplaces.