Executive Briefings

Here's How You Can Successfully Reach the Global Consumer

Today's consumer is a lot different than the consumer of 5 years ago, or even one year ago. Consumers today are making purchases both on and offline, through mobile devices, and even social channels from all over the world. Retailers are transforming their business strategies to engage these consumers, wherever they are, but not every retailer is seeing the payoff for their efforts.

For example, a very well-known online retailer decided to go cross-border. As they transformed their business strategy to engage cross-border consumers, they naturally opted for a business model that put an emphasis on transportation of their goods - because moving stuff from Point A to Point B is essential. No surprise, after launching the cross-border offering, the retailer saw very little business from the global consumer, plus an increase in abandoned carts.

Where did this retailer go wrong? While they introduced a cross-border solution, they completely left out a necessary emphasis around customer engagement. Logistics is important but only half the battle and maybe a little less if you have no one shopping on your site. Creating awareness and getting traffic to your site takes effort, and what works for your domestic site does not always translate cross-border. Just having a presence and the ability to offer international shipping does not make a successful program.

When it comes to cross-border shopping, marketing is an essential. While the “what” may be similar to your domestic operations, the “how” needs to be stepped up. So how do you ensure your cross-border strategy is a success and not a flop?

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For example, a very well-known online retailer decided to go cross-border. As they transformed their business strategy to engage cross-border consumers, they naturally opted for a business model that put an emphasis on transportation of their goods - because moving stuff from Point A to Point B is essential. No surprise, after launching the cross-border offering, the retailer saw very little business from the global consumer, plus an increase in abandoned carts.

Where did this retailer go wrong? While they introduced a cross-border solution, they completely left out a necessary emphasis around customer engagement. Logistics is important but only half the battle and maybe a little less if you have no one shopping on your site. Creating awareness and getting traffic to your site takes effort, and what works for your domestic site does not always translate cross-border. Just having a presence and the ability to offer international shipping does not make a successful program.

When it comes to cross-border shopping, marketing is an essential. While the “what” may be similar to your domestic operations, the “how” needs to be stepped up. So how do you ensure your cross-border strategy is a success and not a flop?

Read Full Article