Why? With e-commerce experiencing a boost due to the pandemic, many brands and retailers are focusing on customers’ online experiences, using rich media to increase sales and survive during these difficult times.
However, shaping successful online experiences is not simple; it requires harmonizing multiple technologies combined with an effective content strategy. Let’s look at some numbers to better understand what fundamental factors drive the need for exceptional online shopping experiences and what businesses can do to create and deliver them to shoppers with a rich media content delivery strategy.
What is Rich Media?
Rich media refers to video, images and audio elements that are used to catch the attention of a viewer. Typically used in ads, the main goal of rich media is then to combine information with high-quality digital assets to provide engaging and interactive experiences for consumers.
Why Adapt Customer Experiences for Rich Media?
1.) Online sales have spiked
- 30% of consumers expect to spend more at online retailers in the next 12 months1
- Last holiday season, global digital sales grew 45% year over year to reach $181 million Dec. 1- Dec. 142
- Research estimates that between three and six percentage points of market share gained by online channels will stay long-term3
2.) Brands and retailers need to adapt fast to changing customer expectations
- 41% percent of US adults feel more confident about their in-store purchases when they use a smartphone to do research4
- 86% of buyers will pay more for a better consumer experience5
- 57% of customers won’t recommend a business with a poorly designed website on mobile5
3.) Many businesses have started to adapt by focusing on customer experiences
- 70% say they have increased their customer experience budgets6
- 63% have invested in customer experience tools and resources6
- 81% have increased their focus on creating cohesive customer journeys6
Challenges of Creating and Delivering Rich Media Product Content
Most companies lack the data governance required to maintain product data and digital assets aligned. Furthermore, product data and digital assets often live across many systems, creating inaccuracies that take a lot of time and effort to resolve. This all hinders the content creation process and prevents companies from delivering rich product content fast.
How to Deliver Rich Product Content for Digital Commerce Success?
Harmonize Product Information Management (PIM) and Digital Asset Management (DAM) to stand out on digital and physical shelves.
PIM is essential to manage, validate and deliver accurate product content. Organizations should look for solutions that integrate PIM with an actual DAM to harmonize product data and creative assets to craft product content that converts. It is also important to choose PIM solutions that can syndicate to key channels and focus on product experience7, while looking for a modern DAM that can enhance collaboration and planning. In turn, this will enable companies to prioritize and deliver the digital consumer experiences today’s shoppers seek.
Sources:
- https://www.forrester.com/fn/1kNwcyyFYLRuWAa9aCquip
- https://www.digitalcommerce360.com/article/coronavirus-impact-online-retail/
- https://www.cnn.com/2020/10/11/investing/stocks-week-ahead/index.html
- https://www.forrester.com/Consumer+Technographics+Retail+Consumer+Buyer+Journey+Survey+2020/-/E-sus5851
- https://www.superoffice.com/blog/customer-experience-statistics/
- https://digitalhumans.com/blog/increased-customer-experience-budgets-more-cx-challenges/
- https://www.forrester.com/report/Now+Tech+Product+Information+Management+Q1+2020/-/E-RES159298
