Gone are the days when having a great product was enough to have a successful online brand. In terms of a tailored, customer-centric experience, consumers want more from the brands they buy from. Today’s customer is firmly in control, which necessitates a shift in how brands create and maintain relationships with new and existing customers.
What is driving the e-commerce growth today? Everyone is aware that there is no longer a “one-size-fits-all” option for brands and businesses. Gone are the days when all people needed to know was “the right store on the right street.” The rise of the internet has provided a wealth of new ways to reach consumers, but it has also complicated the basket journey. As a result, it is getting increasingly difficult for businesses to stand out from the crowd and gain consumer attention and loyalty. When it comes to digital growth, the key is to build and maintain a customer-centric approach.
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Drivers of Change and Customer Focus
The first key driver of change is behaviour – as generations grow older, their values and interests change and evolve. The growing interest in sustainability is an example of this. According to a Deloitte survey from 2021 “Shifting sands: Are consumers still embracing sustainability?” 32 percent of all customers are very interested in adopting a more sustainable lifestyle.
Furthermore, due to ethical or environmental concerns, 28% of consumers have ceased buying specific items entirely. Not taking a stand on such a significant consumer trend is no longer an option, and organizations should address these issues through their products and processes in order to develop a stronger relationship with customers by aligning with similar values.
Changes in business models and brand recognition are the second and third key components.
Access to products and services is becoming more important than ownership in today’s world. Traditional business models are threatened, forcing brands to modernize in order to remain relevant to today’s consumers. Furthermore, they need to ensure that they remain top of mind with customers. This necessitates more in-depth consideration of how to better engage with customers, sustain that relationship, and create a more meaningful and personalized experience that encourages them to return.
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Customer Focus Evolving as a Result of Flexibility
The consumer is the common thread that runs through all three of these pillars of change. Brands should first and foremost take a customer-centric approach, fully understanding their values and needs, and coupling this with their product offering. They can achieve a perfect alliance between brand and consumer by doing so, blending smoothly into their lives and, and where possible, improving and simplifying them.
All brands try to gain customer loyalty and, as a result, increase the value of those customers. A brand wants the customer to see them as the only viable option, and they also want them to understand that they are getting the most value for the time they are using their product.
The easiest way to sustain this is to focus on a customer-centric strategy, but this requires flexibility. This is because the closer a company gets to its customers, the more it needs to adjust and grow the customer experience to meet those needs, and doing so technically necessitates malleable and extensible platforms. It should come as no surprise that Open Source systems are more adaptable and adjustable, making them ideal for this type of task.
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