04 LEVERAGE TECHNOLOGY, CAPTURE DIGITAL GROWTH OPPORTUNITIES Become Truly Customer-Centric, everything they can to protect and grow market Double Down on E-Commerce share. Investment in technology that enables a smoother e-commerce experience, and Getting customer experience right is now even brings customers in before your competitors higher stakes. Due to the closures of many by identifying relevant audiences through physical stores, digital channels are now central, digital channels, is the way to win. Automating with Internet use higher. operations, particularly on ad spend, will help you move instantaneously as conditions change. Demographic shifts towards digital, with older audiences forced to use digital channels But the deployment of technology also needs for the first time, mean every experience can to follow a well considered and deliberate potentially pose a threat to retention; first-time strategy. It’s less about individual features and experiences carry more weight than those of more about concrete use cases. Before you start digital natives, for whom experience is less of a building (or updating) your marketing stack, it’s hurdle. crucial to devise your overall business strategy. This approach must be shaped around the With this in mind, making the e-commerce value proposition, product portfolio, the desired experience as easy as possible will lead to audience, and the channel mix employed to reach them. Carefully analyze your current stack customer retention. Right now, many businesses and identify where it matches the strategy and whose physical stores and operations were their where it blocks it. primary channels are having to compete with Amazon. A good customer experience could be the difference between a new, loyal customer or the loss of existing customers, who have "Demographic shifts towards now become used to digital channels and will digital, with older audiences consume less in-person even once the crisis abates. forced to use digital channels Traditional retailers, who are less equipped to for the first time, mean every serve people immediately at their homes and experience can potentially whose delivery times will be longer, are at risk of pose a threat to retention; losing their market share over time. first-time experiences carry Tracking customers throughout the flow to more weight than those of understand potential bottlenecks, testing digital natives, for whom messaging and adapting accordingly, and increased personalization and data enablement experience is less of a hurdle." to identify earlier openings will help you win against competitors, who will also be doing