Wednesday, October 30, 2024

Why Ecommerce Companies Are Doubling Down On Data

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In the ecommerce landscape, the genesis of 2 Visions stems from a profound realization: the true potential of online businesses lies not just in high-quality marketing and user experience but in empowering the people behind the brands. Founded seven years ago by Yates Jarvis , 2 Visions emerged as a response to the growing demand from direct-to-consumer (DTC) brands for transformative strategies that elevate both performance and organizational structure.

With a keen focus on maximizing profit through effective team development, Jarvis recognized that while many agencies excelled in delivering incremental results, a more holistic approach was essential for unlocking exponential growth. As consumer behaviors shift and new technologies reshape the market, the dual visions of financial performance and employee engagement stand as critical pillars for sustainable success in the competitive world of ecommerce.

I wanted to get into the highest leverage profit drivers of an ecommerce company — its people and their performance. Coming from the agency world, we majored in knocking out high-quality work, like a labor force replacement for a company, and we minored in strategy. That's great for what it is, but our clients needed more. They needed help with their own structures and people to really transform their profit potential.

DTC ecommerce brands were coming to us looking for significant results, and we definitely felt like we knocked it out of the park relative to our competitors. However, while working there, we saw so much more opportunity. An opportunity that made what we were doing pale in comparison. It made what we were doing with UX/UI and marketing/advertising start to look wholly incremental instead of exponential. This was a wake-up call.

Ecommerce companies are doubling down on data. Gone are the days of basic attribution modeling and tracking email opens. The game has evolved into complex digital fingerprinting and mixed modeling that attempts to get at the heart of incrementality and causality. I see every brand participating in their stance on this, trying to win by better leveraging data than their competitors.

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