14 Dec 2016
Last month, inRiver had the pleasure of sponsoring and taking part in a panel discussion at Fashion Digital New York.
The topic of the session was “micro-moments”—defined by Google as those moments of intention during a shopper’s buying cycle when the buyer conducts research, forms opinions, acts on preferences, and ultimately makes purchasing decisions.
We were excited to include Michael Burke, Head of Industry—Fashion, Sports & Toys, Google and Mark Lippmann, Managing Partner and Co-Founder, Deborah Lippmann, on our panel to cover topics ranging from the challenges of addressing micro-moments for fashion retailers to the types of tools and measurements you need to be successful. We will be continuing to cover aspects of detecting and addressing micro-moments over a series of blog posts in the coming weeks. In this initial post, we would like to offer some insights into the role of content.
The Right Content for Micro-moments
Micro-moments are creating challenges for retailers across industries. There is a very short window in which a retailer has the opportunity to engage the buyer and convince them to buy. The key is to get the right content into shoppers’ hands at the place and the time that they are needing it—when they are researching products and ultimately making purchases.
To do this, you may need more content, in more formats, so that you can satisfy the needs of a variety of customer needs. In addition, your content may need to be more granular and of higher-quality, so that it can be found and identified when it is needed. Last, it must be served up to the right shopper at the right moment in time.
Identify Key Touchpoints
The first step in developing this content production factory is to identify all of the touchpoints where buyers will be in need of product information. You will then need to prioritize those touchpoints to address the most critical ones first. Because many companies do not have enough information about how consumers are interacting with their content, it is important to set up metrics to measure the success of your content and touchpoints at those crucial junctures.
Determine Where You Are Losing Potential Customers
Online retailers frequently measure the frequency of abandoned carts. However, you need to consider the possibility that you are losing customers and related sales long before the “Add to Cart” button is clicked. This may be because your content is insufficient, irrelevant, or inaccurate for a given buyer. Determine where you are losing customers before they are reaching your cart and establish a feedback loop to improve your content. Analyze what type of content is most likely to convert or influence conversion. What do your buyers want from your content that will result in clicking that “Add to Cart” button?
Create a Content Production Factory
Once you have established a strategy for providing content at key touchpoints, you will then need to start developing your targeted content. However, to produce this better quality, more copious content, you need the right tools and internal processes. Companies that have been successful at this effort have been structured in their approach. They have developed a “content production factory” to make the content creation process faster and easier. There are a number of tools that support this production effort, but the heart of the ecosystem is the product information management (PIM) application. Providing excellent product stories is the foundation on which you can build enticing product assortments and stellar customer experiences.
In the coming weeks, we will delve further into some of the techniques and tools that you can employ to help run your content production factory. In addition, we will highlight some companies that have been successful in addressing micro-moments and share some of their secrets.
Kathryn Zwack, Senior Content Marketing Manager North America, inRiver