Over the past 30 years the leadership team at e.fundamentals have spoken to hundreds of retailers and brands; drawing on their decades of experience in the rapidly evolving FMCG sector, they now work closely with brand owners to help them drive it. With retail footfall falling and eCommerce sales rising in 2018, for a commercially savvy and ambitious leader it would be clear where the next growth opportunity lies.
With insight from former and current brand owners and input from hundreds of conversations we’ve had, here are 10 important things to keep front of mind as you lead the eCommerce agenda for your company.
For eCommerce to work, you need a big, long term vision for it and embed it into your company’s business plan
With deep category insights you can create more interesting, competitive and ambitious strategies than what the traditional joint business plans consisted of
Bring your international and regional teams together to drive eCommerce growth
Take eCommerce scorecards with a pinch of salt; they’re good at reflecting where you are but not what you need to do to grow
Asses the tools you need for Amazon carefully - brands have more leverage than they think
You don’t need a data scientist, analysts or a team of specialists to maximise your eCommerce data
Borrow great ideas from other industries
Spread your eCommerce knowledge throughout the company
Don’t forget to be passionate about what you do! It’s infectious.
1. Create a vision for eCommerce
Companies often have a clear vision for their brick-and-mortar model and a solid business plan that kicks of the new year. Very few can say the same for eCommerce. Setting a vision is slightly different from setting the goals / KPIs. Wanting to increase your search ranking or fixing the basics isn’t a vision; those are executional KPIs that help deliver the vision.Having a vision means thinking bigger. It means you’re committed to growing the channel and seeing a future for it in your wider business plan because eCommerce will help you deliver it. Such as….