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14 New Ecommerce Books for Summer 2020

Here’s a batch of new ecommerce books for summer and early fall reading. There are titles on startup funding, podcasting, branding, entrepreneurialism, international trade, the psychology of social networking, and the science of happiness.

I compiled this list using Amazon. From Amazon’s “Books” category, I selected “Business & Money.” From there I chose the “Processes & Infrastructure” sub-category and selected “E-commerce.” Then I handpicked titles from that group based on customer ratings and relation to ecommerce. Also, I chose a few titles from the “Small Business & Entrepreneurship” sub-category.

New Ecommerce Books

How I Built This: The Unexpected Paths to Success from the World’s Most Inspiring Entrepreneurs by Guy Raz

How I Built This

How I Built This

Based on “How I Built This,” a National Public Radio show, this book explores the stories behind highly successful entrepreneurs. Get practical insights on every step of the entrepreneur’s journey, from formulating an idea, to raising money and recruiting employees, to fending off competitors, to finally paying yourself a real salary. Kindle $15.99; Hardcover $18.60.

Big Enough: Building a Business that Scales with Your Lifestyle by Lee LeFever

Big Enough

Big Enough

In “Big Enough,” entrepreneur Lee LeFever recounts the journey of building a scalable, product-focused business while not sacrificing quality of life. Through the development of Common Craft, LeFever’s company, explore the various business models the author pursued: marketplace, digital product licensing, subscription services, distribution partnerships, and more. Discover how to build your right-size business, and explore the new definitions of what it means to be successful. Paperback $15.95.

The Hidden Psychology of Social Networks: How Brands Create Authentic Engagement by Understanding What Motivates Us by Joe Federer

The Hidden Psychology of Social Networks

The Hidden Psychology of Social Networks

“The Hidden Psychology of Social Networks” uses a framework based on Freud’s id, ego, and superego to show how social network structures correspond to different mindsets of the human psyche and how to use those mindsets to reach your target audiences. Create content that drives sharing, and balance your social presence across a variety of networks. Kindle $25.27; Hardcover $26.60.

Get Funded!: The Startup Entrepreneur’s Guide to Seriously Successful Fundraising by John Biggs and Eric Villines

Get Funded!

Get Funded!

From a founding editor of TechCrunch, “Get Funded!” will help you create a powerful story, a solid business plan, explore funding options, and plan and deliver the perfect pitch to raise money and take advantage of the latest financial tools. Access step-by-step strategies, ready-to-use resources, and on-the-ground insights. Kindle $15.99; Hardcover $28.00.

Profit From Your Podcast: Proven Strategies to Turn Listeners Into a Livelihood by Dave Jackson

Profit From Your Podcast

Profit From Your Podcast

“Profit From Your Podcast” offers strategies and examples for successful growth and monetization. Learn how to grow your audience and set the right pricing, find sponsors, utilize crowdfunding, exploit affiliate marketing, harness webinars and events, and discover helpful tools. Identify your audience and deliver value. Paperback $16.99; Kindle $12.99.

Outrank: Your Guide to Making More Online By Showing Up Higher on Search Engines and Outranking Your Competition by Damon Burton

Outrank

Outrank

“Outrank” helps you identify a blueprint for increasing visibility, traffic, and profits through search engine optimization. Explore the trends that will impact your results for the next decade. Paperback $9.99; Kindle $1.99.

Binge Worthy Branding: Build Customer Loyalty Using AI and Personalization Like Amazon, Netflix, and Starbucks by Sterling McKinley

Binge Worthy Branding

Binge Worthy Branding

“Binge Worthy Branding” explains how to use artificial intelligence to build effective corporate loyalty programs, emulating the success of top companies. Create a brand that attracts cult-like followers. Learn to prepare for the ever-expanding expectations of your customers. Kindle $14.99.

Power Your Profits: How to Take Your Business from $10,000 to $10,000,000 by Susie Carder

Power Your Profits

Power Your Profits

“Power Your Profits” is a plan for launching a business. Learn how to run daily operations, understand finances, account for sales, and employ marketing systems that lead to predictable and substantial revenue and profit growth. Paperback $14.99.

Entrepreneurial Happiness: How to Build an Abundant Business and a Fulfilling Life by Charlie Reading

Entrepreneurial Happiness

Entrepreneurial Happiness

An entrepreneur need not sacrifice free time, leisure, and fun. In “Entrepreneurial Happiness,” business owner Charlie Reading presents the “entrepreneurial happiness” system, developed through his own experience as a business owner, as well as the experience of other successful entrepreneurs. Learn to make your business more profitable as you achieve a healthy work-life balance. Paperback $19.95; Kindle $9.99.

Your Next Five Moves: Master the Art of Business Strategy by Patrick Bet-David

Your Next Five Moves

Your Next Five Moves

From the creator of the popular “Valuetainment” YouTube channel for entrepreneurs, “Your Next Five Moves” is a practical guide to help entrepreneurs develop their strategic thinking — to look at the pieces in front of them and anticipate their next five moves. Get clarity on what you want, learn growth tactics for good times and bad, and develop strategic thinking to grow your business. Kindle $14.99; Hardcover $25.20.

Hook Point: How to Stand Out in a 3-Second World by Brendan Kane

Hook Point

Hook Point

With over 60 billion messages shared on digital platforms each day, digital and social media have reshaped our world into micro-seconds. In “Hook Point,” Brandan Kane reveals the power of delivering messages in a succinct, attention-grabbing way that leads to better opportunities both online and off. Learn to promote in a three-second world. Hardcover $27.95.

Mastering Marketing Agility: Transform Your Marketing Teams and Evolve Your Organization by Andrea Fryrear

Mastering Marketing Agility

Mastering Marketing Agility

“Mastering Marketing Agility” shows how to build your marketing operations that can pivot and still maintain your priorities. Learn to build a marketing system that succeeds in every trend shift. Learn how to implement the systems, strategies, and practices that will truly transform your marketing. Paperback $29.95; Kindle $16.17.

Technologies for Modern Digital Entrepreneurship: Understanding Emerging Tech at the Cutting-Edge of the Web 3.0 Economy by Abeba Turi

Technologies for Modern Digital Entrepreneurship

Technologies for Modern Digital Entrepreneurship

“Technologies for Modern Digital Entrepreneurship” is a guide to discover new trends, explore crowd-based digital business models, analyze the economics of distributed information networks, and understand the workings of digital currency systems. Paperback $39.99.

International Trade: What Everyone Needs to Know by Anne Krueger

International Trade

International Trade

“International Trade” is a comprehensive introduction to the key aspects of international trade policy. Learn the history of the issues, and examine why these issues are so difficult. Explore tariffs, antidumping and countervailing duties, government procurement policies, preferential trading arrangements, and trade with developing countries and emerging markets. Develop an understanding of the World Trade Organization. Paperback $16.95; Hardcover $74.00.

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Store Closures, Slow Shipping Could Drive Retail Prices Lower

The coronavirus pandemic could lead to much lower retail prices for some categories, as store closures and product returns caused by slow shipping lead to an inventory glut.

The problem might be divided into two broad categories: excessive discounted inventory and slow-shipping-induced returns.

Discounted Inventory

Some retail sectors could face a significant increase in discounted inventory thanks to retail bankruptcies, store closures, and stalled supply chains.

Each of these problems may lead to an oversupply of marked-down goods in the next several months.

Retail bankruptcies. The coronavirus sped the demise of several, already struggling, brick-and-mortar retail chains. Many of these companies had planned to shutter stores or even cease operations.

For example, Modell’s Sporting Goods Inc. said in March 2020 that it would shutter all of its remaining 141 stores after bankruptcy proceedings, only to have its going-out-of-business sale interrupted by nationwide shelter-in-place and stay-at-home orders. As businesses reopen, Modell’s is expected to continue liquidating its inventory.

The Covid-19 pandemic also contributed to Pier 1 Imports Inc. filing for bankruptcy and announce that it would shutter all stores and cease operations.

“We are grateful to our dedicated and hardworking associates, millions of customers, and committed vendors who have collectively supported Pier 1 for decades,” said Pier 1 CEO Robert Riesbeck in an official statement.

“We deeply value our associates, customers, business partners, and the communities in which we operate, and this is not the outcome we expected or hoped to achieve. …Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of Covid-19…requiring us to wind down.”

To these bankruptcies, add J.C. Penny Co., Neiman Marcus Group Inc., J.Crew Group Inc., Tuesday Morning Corp., Art Van Furniture Inc., Stage Stores Inc., and many more. And it doesn’t include the hundreds or even thousands of single-store retailers the pandemic has pushed out of business.

What all of these bankrupt businesses have in common is inventory that must be liquidated.

Bankrupt retail stores will need to liquidate inventory at discounted prices. <em>Photo: Artem Beliaikin.</em>” width=”570″ height=”375″ srcset=”https://www.practicalecommerce.com/wp-content/uploads/2020/06/060420-retail-discounts-570×375.jpg 570w, https://www.practicalecommerce.com/wp-content/uploads/2020/06/060420-retail-discounts-300×198.jpg 300w, https://www.practicalecommerce.com/wp-content/uploads/2020/06/060420-retail-discounts-150×99.jpg 150w, https://www.practicalecommerce.com/wp-content/uploads/2020/06/060420-retail-discounts-500×329.jpg 500w, https://www.practicalecommerce.com/wp-content/uploads/2020/06/060420-retail-discounts.jpg 703w” sizes=”(max-width: 570px) 100vw, 570px”></p>
<p id=Bankrupt retail stores will need to liquidate inventory at discounted prices. Photo: Artem Beliaikin.

In some cases, these retailers will sell inventory at discounted prices from their stores. Others might sell large amounts of inventory to overstock or discount chains. Still others might auction pallets of goods that will make their way to eBay, Amazon, and other online marketplaces.

In all cases, shoppers should expect to find heavily-discounted items for the next several months.

If your ecommerce or omnichannel retail business is healthy and operating in the same industry segment as one of these struggling or defunct merchants, there could be downward price pressure on some of the products your business sells.

Store closures. Bankruptcies are not the only potential retail inventory problem.

When the shops and boutiques in The Village at Meridian shopping center in Meridian, Idaho closed in late March, for example, those stores tended to have two sorts of seasonal merchandise on display.

First, there were the remaining Valentine’s items, which were already on sale at closeout prices. Second, there were the many and various Easter-themed products ready for the April 12 holiday. By the time those stores reopened in May, both seasons had long passed.

Now, many of those items are heavily discounted.

The example can extend to nearly every seasonal retail item in the country. As stores reopen, they will need to sell through now-out-of-date products.

Thus, this second source of discounted inventory has the potential to lessen demand for similar, full-price items, at least in the near term.

Supply chain in waiting. The pandemic’s shutdowns not only impacted retail stores but also caused closures and employee furloughs at retail warehouses. In some cases, those warehouses had already assembled pallets of goods for a chain’s locations. Those pallets, wrapped in plastic, are still sitting on docks waiting to be loaded on a truck and delivered to a brick-and-mortar store.

Some of these pallets contain the same kinds of Easter or spring items that newly reopened stores are trying to sell at deeply discounted prices.

Thus, supply chain disruptions are still another source of discounted inventory that could push retail prices lower in some industry sectors.

Slow Shipping

The surge in retail ecommerce sales — most notably Amazon and Walmart — along with closures in March, April, and May, has strained ecommerce shipping.

In some cases, the carrier, such as the U.S. Postal Service, has been unable to keep up. In other instances, businesses that furloughed most of their warehouse staff have been slow to ship.

Regardless, slower delivery times have encouraged a new sort of consumer behavior that may impact omnichannel retailers.

Here is an example. Imagine it is early May. Nearly all physical stores are closed because of the pandemic. A kitchen-supply retailer, perhaps in need of cash flow, has put an espresso machine that normally sells for $700 on sale for $500. A shopper buys it.

Fast forward to the end of May. This same kitchen-supply retailer has just reopened its physical stores, but it has not yet been able to fulfill the many orders it received during the espresso machine sale.

A shopper, flush with cash from a stimulus check, goes to the physical store and buys the same espresso machine a second time rather than continuing to wait for the online order. When the online order does arrive a few days later, the customer takes it to the physical store and returns it unopened.

This may sound crazy, but it is happening. What’s more, the returned item is now sitting in the store’s backroom for up to 15 days, depending on the chain’s procedures.

Downward Price Pressure

Collectively, store closures and returns caused by slow shipping could produce an inventory glut in some retail segments, pushing down prices.

Retailers might want to look at their inventory positions and decided if it makes sense to reduce reorders or, perhaps, even try to buy inventory from a new bankrupt competitor.

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Google Sued for Tracking Chrome Users While Incognito

Google is facing a class-action lawsuit for tracking people who used the Chrome browser's Incognito mode. Law firm Boies Schiller Flexner filed the complaint on behalf of people who used the privacy mode during the past four years. “Google tracks and collects consumers' history and other Web activity no matter what safeguards consumers undertake to protect their data privacy,” it states. “Indeed, even when Google users launch a Web browser with ‘private browsing mode' activated … Google nevertheless tracks the users' browsing data.”

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Starting a Retirement Business: How This Former Teacher Became an Alpaca Rancher

Bolivian Alpaca on the background of blue clouds South AmericaThe sedentary life of beaches and golf might suit some as a reward for years of hard work, but it might actually detrimental to the health of others. What if retirement looked more like work and less like leisure? Learn how a former teacher found happiness in retirement—as an alpaca rancher and sock seller. And, find out how to start your own business after you retire.

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SEO: Search Console Is an Untapped Source of Keyword Data

In October 2011, Google made a significant change that impacted search engine optimization. To improve security, Google updated its SSL, encrypting search queries. The result was much less info about searchers’ organic keywords, the blue links they clicked, and the subsequent landing pages. In analytics, the keyword stated, “[not provided].”

Search optimizers erupted. How could we know which keywords to focus on? Which keywords drove profits? Our anger turned to conspiracy since Google passed similar keyword data to advertisers, suggesting that if you want data, you have to buy Google ads.

How could we know which keywords to focus on?

The months after that update were tough. SEOs had to explain to their bosses and clients why new organic-search campaigns took longer since the targeted keywords were unavailable. Instead, we looked at rankings data assembled by third-party tools — which, incidentally, Google has always discouraged because of the scraping methods used to obtain this data —  and organic traffic and conversion metrics. We had to loosely correlate the missing middle component: the keywords that produced the traffic and conversions.

But several years ago, Google’s Webmaster Tools (now called Search Console) began adding performance reports — giving search optimizers some organic data. Later, the reports became more robust. Then the share of keyword data increased. Google even created an API to obtain hundreds of thousands of keyword metrics. (I addressed this API in a Moz post.)

Search Console now has more than enough data to return us to the glory days of natural search keyword data. But many businesses are not aware. I use the Search Console report often, more than Google Analytics and my rank tracker.

I’ll explain the Search Console data in this article.

Search Console

Google Search Console is a free portal to help webmasters understand how their sites appear in Google.com. (If you’re not on Search Console, follow Google’s instructions for creating and verifying.)

On the left rail of your Search Console account are links to reports and tools, including sitemap submission, mobile usability, and more. But for this post, click “Overview” (or, for some users, “Performance”), which produces a report called “Performance.”

Once there, click the “Open Report” for “Search results” for more information.

In Search Console, click "Overview," which produces a report called "Performance."

In Search Console, click “Overview,” which produces a report called “Performance.”

By clicking the colored boxes you can add layers of data to this report.

Click the colored boxes to add layers of data.

Click the colored boxes to add layers of data.

Also, clicking the date range can provide even more analytics data — as shown in the following video.

To dig even further, click the sub-tabs of “Queries,” “Pages,” “Countries,” and so on.

The resulting report is incredibly powerful. By first choosing the page to review, you can then click “Queries” and see the keywords that are driving traffic to it. Moreover, you can see the average ranking position, the clicks Google recorded, the impressions of your page, and the click-through rate. And the data can be exported.

Useful Data

When focusing on specific products or content pages, the Search results “Performance” report is very helpful. Some of the keywords you are targeting. But others you’ve likely never heard of or knew you ranked for.

You could find a term with high visibility, a high conversion rate, and an average rank of 15. That’s page 2 of Google search results. Now, with this insight, you can begin pushing to page 1 with some targeted optimization.

Conversely, you may find that your target keywords are ranking well but have low clicks. You could improve clicks by updating your title tags and meta descriptions to stand more on the results page.

This report is one of my favorite sources for keyword research. Dig deep to find previously unknown keywords. Export the data and append with estimated search volume (which you can obtain from Keyword Planner, Ahrefs, and other SEO tools). You can see the high volume keywords that Google associates with your site. Now it’s time to target them with organic search campaigns.

Data Is Back

I have been doing SEO since the 1990s. I have used many related tools. None are as helpful as this free Search Console report. Take a few minutes to get accustomed to the interface. Our data is back, like the old days.

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News Cart for June 5th

Hey ECF readers,

This week in the podcast version I share some important thoughts I hope you'll listen to first here followed by this week's eCommerce and tech headlines below.

– Andrew

Subscribe: iTunes | Stitcher

In the News

U.S. small firms leave $150 billion in coronavirus stimulus untapped

  • A total of $660 billion was allocated to the PPP program
  • Demand for PPP loans has significantly declined over the last few weeks since the start of the pandemic

‘Digital by default': Shopify is letting employees work from home permanently (Hat Tip to Forum Member Katrina McKinnon)

  • This shift will impact more than 5,000 employees
  • Shopify will keep physical offices closed until 2021

Social media giants take different approaches to presidential messages

Amazon plans summer sale for June 22 to ‘jumpstart sales’ after coronavirus crunch

  • Amazon’s “invitation only” sale is said to be in response to the pandemic and the subsequent delay of Prime Day
  • Sellers were asked to submit deals for items with at least a 30% discount

Slack partners up with Amazon

  • Slack will use Amazon AWS more broadly and replace its lackluster video conferencing tech by integrating Amazon Chime
  • Amazon agrees to roll out Slack to all employees

Amazon reportedly considering $2 billion stake in Indian telecom operator Bharti Airtel

  • Bharti Airtel is the third-largest telecom operator in India
  • Comes on the heels of Facebook and Google's interest in the Indian telecom space with previous talks and/or investments

Alibaba expands its US presence with new programs designed to help businesses struggling with COVID-19

  • Includes longer payment terms, a more unified shipping/fulfillment platform and and additional trade shows
  • U.S. buyers have increased by 70-100% year over year

Stitch Fix to Lay off About 1,400 Employees in California

  • Stitch Fix closed two distribution centers in march due to COVID-19.
  • The company says it plans on hiring 2,000 employees in lower-cost cities like Dallas, Austin, or Minneapolis.
  • All California-based employees will be given the chance to relocate and keep their job

Pinterest adds a ‘Shop’ tab to its Lens Camera search results to showcase matching in-stock products

  • Take a picture of something and see similar items that are in-stock and available for purchase on Pinterest
  • Pinterest reported seeing 3x the number of visual searches compared to 2019
  • Follows Pinterest’s announcement of its partnership with Shopify

Top Forum Discussions

(Membership required to access. Not a member? Apply to join our vibrant community of 7-figure store owners today.)

Looking for Capital and/or Mentorship?

If you're interested in long-term funding from a team that also has the skills, eCommerce rolodex and battle-tested knowledge to help you grow, you need to check out eCommerceFuel Capital.

The post News Cart for June 5th appeared first on eCommerceFuel.

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Listening to Change in CX – and Other News

Enjoy our weekly roundup of top news stories across the Customer Experience (CX) landscape.

Oracle CX Social Content:

  • Here’s what experts say are 3 of the most important elements that will provide insights for driving positive #CX: http://ora.cl/A5Dn8
  • Augmenting the #Service Center with Conversational. How to leverage #chatbots and other conversational interfaces to drive dialogue and value: http://ora.cl/O2gw8 #CX #webinar
  • Check out how @trinelarsen found her passion in support using Oracle #B2C Service: http://ora.cl/E3Ey5 #custserv #OSvC
  • If you’ re looking to further automate your business processes & reduce manual work and errors, you are really going to like the Enhanced Business Rules feature: http://ora.cl/nq6Rp #custserv #CX #B2B by @ppaulsam
  • Here are five areas where companies should focus to ensure they’re ready for the next emergency so they can continue delivering outstanding #customerservice: http://ora.cl/8XQ6z #CX

 

Industry News:

How Artificial Intelligence Can Lighten The Load For Customer Service Representatives – Forbes, 6.2.20

  • The simple truth is that an AI colleague is, in many ways, better equipped to be a customer service agent, and that is a good thing for people.

Listening to change: Customer experience execs share insights on navigating COVID-19 – Marketingdive, 6.3.20

  • Setting up your organization with the capabilities and tools needed to harness the data that serves as the voice of customers in this digital age, is vital.

Why Customer Experience Pays Dividends In Times Of Crisis – Forbes, 6.3.20

  • Great customer service is a no-brainer. Every company should put their customers first.
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The Path to CX Data Excellence

Excellence is a lofty goal. With that in mind, we’ve been publishing a series of blog posts on CX excellence. We started in January with The Path to CX Excellence (very aptly titled), and followed that in March with The Path to CX Excellence for B2B Marketers and The Path to CX Excellence for Sales Professionals.

In April, we featured The Path to CX Excellence for Field Service and The Path to CX Excellence for Service Organizations, and then May brought Path to CX Excellence for B2C Marketers and Path to CX Excellence – Commerce Edition.

These posts provide a roadmap for B2B and B2C companies of all sizes and industries to navigate the challenges and opportunities of providing great customer experiences. This blog builds upon all of the preceding ones and stands on its own.

Data proficiency will help a company excel across multiple functions of marketing, sales, service, and commerce. Brands that lack this can create embarrassing public relations disasters. Whether winners or losers, contenders or pretenders, every company has a chance to mine and refine their data to drive improvements in the speed and accuracy of doing business with their customers.

The Path to CX Excellence Requires a Solid Data Foundation

Per Gartner, 90% of CX leaders agree that if they don’t improve their customer experience, their organization will lose business to more customer-centric competitors! It was noted by Forrester that the brands most successful at differentiating on customer experience are seeing 5X revenue growth relative to their competitors.

Data is the foundation of CX effectiveness. This foundation is built upon solid data collection, management and activation capabilities that produce intelligence, enable better decision-making, drive better customer outcomes, reduce churn and maximize customer lifetime value.

Today, there’s more data customer data available than ever before, and it’s important for companies to try to get customer data management right. Customers expect more from your brand than ever before. They want consistent experiences across every touchpoint, while also expecting you to remember your past interactions with them. They demand that you respect their privacy… but also wish you would understand and treat them as unique individuals.

The traditional, linear customer journey is extinct. Therefore, the congruence of messages your customers receive is more important than ever because today’s consumers engage whenever and however they choose. They always expect a relevant and timely experience.

A single view of the customer is necessary to delivering a consistent, exemplary experience across the entire customer journey.  This view is based upon a deep, meaningful understanding of the customer. However, every customer touchpoint – sales, service, marketing, commerce – produces siloed data that makes a single view of the customer impossible at the moment it’s created. What to do?

Convert Strangers into Friends

CX leaders can start building in-depth customers insights by understanding their priorities, needs and preferences. This begins when your audience is anonymous, well before they’ve developed a relationship with you as a brand. This relationship continually evolves as they engage across various channels throughout their customer journey.

To accomplish this, CX leaders need a data-first approach to unifying all customer data. After all, customers don’t care that you have various marketing, sales and service departments.  These systems should be invisible to the customer while anticipating their needs. At the moment when the customer is about to engage with the brand, all these systems should be orchestrated to serve the customer whatever they need, whenever they engage with the brand – on their terms and channel of choice.

Just as with the other CX areas where we published a Path to Excellence post, the idea is that each company is at their own, unique spot and can make incremental progress. We want to help you demystify this path to excellence, identify where your company is and what can be done to make progress.

The path to data excellence in what Oracle calls “The Experience Economy” relates to a company’s actions in several areas of data maturity;

  • Data collection and connections,
  • Customer data management,
  • Intelligence and decision-making, and
  • Data utilization and activation.

Step 1: Different functions in an organization, especially large enterprises, are siloed. Different technologies work separately from each other and often draw on and potentially maintain their own separate data, assets, and other repositories.    

CX professionals who operate at this level seek to improve results and move to the next stage.

On average, companies use 17 technology applications for customer data with an average of 28 different data sources for customer insights and engagement. – Deloitte

Step 2: The cross-channel stage key focus is data enrichment for better usage. This propels a company to a more accurate data set factoring in 2nd and 3rd party data.  Customer data management is now an area of focus.

According to Gartner, the average annual cost to an organization due to poor data quality is ~$15M!

A move to the next stage of data maturity, the data-driven stage, means that a company is utilizing automation when working with data. This stage features segmentation and activation of data, typically across marketing and at least one other function of the company. An underlying  concept is data being used to drive decision-making.

86% Of customers would pay up to 16% more for better customer experience. – PwC

Step 3: In this data-driven stage, data accuracy is no longer an issue. Decisions are based on historical as well as real-time data to understand what happened in the past and why it happened with diagnostic/casual/ad hoc analysis with some individualized data.

The next step toward data maturity, the intelligence-driven stage, means that a company has intelligence truly activated, with the data used to make predictions across the entire ecosystem. The data impacts all functions within the company, towards the goal of delivering a consistent and responsive brand experience at each customer touchpoint.

91% of customers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them. – Accenture

Step 4: In this data-driven stage, data accuracy is rarely an issue to perform identity matching for centralized IDs across the enterprise. Decisions are based on historical and real-time data and intelligence to understand what happened, why it happened and what will happen in the future.

In the Experience Economy, a brand’s experiences matter more to customers than the products or services that are sold. Brands who collect real-time data signals, and use that to build the most authentic and relevant experiences, will be the ones creating emotional connections and lost-lasting relationships with consumers. Now is the time for CX leaders to position themselves at the forefront of the longer-term shifts in consumer behaviors that result from this crisis. Data is the foundation that can allow you to orchestrate a truly consistent, connected brand experience for customers and achieve the type of long-term hyper-growth that the elevated experience makes possible.

Click here to read about Oracle Unity, Oracle's customer intelligence platform for real-time customer experience.

We’ve developed an assessment tool to help companies determine where they’re at on the path to data excellence and we encourage you to check with your Oracle CX sales representative to discuss where you’re at on the path to data excellence and what steps could be taken to progress.

 

 

 

 

 

 

 

 

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‘New Normal’ Security Era Begins for US Agencies, Cloud Providers

U.S. government agencies and cloud technology providers are heading toward a reset in how they cooperate on cybersecurity challenges. The expected growth of cloud use will create a more complex federal security landscape, according to a recent report from Thales Group. Federal agencies actually have moved ahead of businesses in cloud adoption, with 54 percent of agency data already embedded in the cloud. Furthermore, cloud technology is central to a broader “digital transformation” goal in the federal government.

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Five Shipping Strategies to Keep Customers Happy While Protecting Profits

Please customers and protect margins: here's how to determine the perfect eCommerce shipping strategy for your store and the right tools to accomplish it.

The post Five Shipping Strategies to Keep Customers Happy While Protecting Profits appeared first on WooCommerce.