MarTech Interview with Shelly Cohen, Head of Business Development, eCommerce, at Wix

Shelly Cohen, Head of Business Development, eCommerce, at Wix talks about the latest customer facing eCommerce functions that users expect in today’s digital journeys:

 

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Welcome to this MarTech Series chat, Shelly, tell us about yourself and your journey in the B2B tech market. We’d love to hear more about your role at Wix…

Thanks for having me. I’m Shelly Cohen, a member of Wix’s eCommerce management team, and have been at Wix for over 9 years now. As a reminder, Wix is a leading platform to create, manage and grow a digital presence. The company began as a website builder in 2006 and is now a complete platform where anyone can build a powerful digital presence to fulfill their dreams. We offer a wide range of commerce and business solutions, advanced SEO, and marketing tools. And, we’re constantly working on improving our offerings to provide merchants with all the tools they need to successfully run and grow their businesses directly from our platform. I’m responsible for Wix’s eCommerce strategy, partnerships, and initiating product innovation to make sure this happens.

Before Wix, I led mergers and acquisitions at NICE Systems, a provider of enterprise software solutions based on advanced analytics. I also led an engineering team working closely with select, enterprise customers of NICE, providing software and product development consultancy.

Take us through some of Wix eCommerce’ latest innovations and how the platform is changing the game for online businesses today.

We’re constantly innovating our offerings and products to help businesses thrive in today’s online marketplace. Some of our latest innovations include:

• AI Text Editor: We recently released our AI Text Editor to help businesses generate high-quality and uniquely-tailored content. By entering several inputs about the desired text, within seconds, the AI Text Creator creates selections of tailored titles, taglines, and paragraphs to choose from. This feature helps combat the time-consuming efforts needed to complete a professional-looking website and essential marketing materials including email marketing campaigns and landing pages.
• Amazon Multi-Channel Fulfillment App: To streamline order processing, business owners in the US, can use the Amazon Multi-Channel Fulfillment App. The app allows businesses to easily process their orders from Amazon directly from their Wix dashboard, simplifying the process of fulfilling orders and ensuring that customers receive their products quickly and efficiently.
• “Back in stock” emails: Wix eCommerce offers “back in stock” emails, which allow businesses to notify customers when a product that was previously out of stock becomes available again. This feature can help businesses retain customers who might have otherwise given up on finding the product they were looking for.
• Pre-order options: Wix eCommerce also offers pre-order options, allowing businesses to offer products that are not yet available for sale. This feature helps businesses gauge demand for new products and generate revenue before the products are even available.

Overall, our offerings are designed to help businesses save time, streamline processes, and improve the customer experience. With these features, businesses can focus on growing their business rather than getting bogged down in the details of running an online store.

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What are some of the trends surrounding ecommerce that you feel will become more dominant in the marketplace as newer technologies make it easier for brands to deliver above par experiences?

There are several eCommerce trends that are gaining momentum including:

• Hyper-personalization to customers: As consumers become more sophisticated and tech-savvy, they expect a more personalized experience when shopping online. This can include everything from personalized recommendations and product suggestions based on their browsing and purchase history, to personalized marketing messages and offers tailored to their individual preferences and behavior. As new technologies like AI and machine learning continue to evolve, businesses will be able to collect and analyze more data about their customers, allowing them to deliver even more personalized experiences that can help drive customer loyalty and repeat business.
• Adoption of new payment options: With the rise of mobile payments and other digital payment solutions, customers are looking for more flexible and convenient ways to pay for their purchases online. This includes everything from traditional credit and debit cards to newer payment methods like mobile wallets, digital currencies, and installment payments. As more businesses adopt these new payment options, they will be able to offer their customers more choice and flexibility, while also reducing friction in the checkout process and ultimately increasing sales.
• Omnichannel shopping: With the rise of mobile devices and the increasing popularity of social media, consumers are looking for a seamless shopping experience across multiple channels and devices. Brands that can deliver a consistent and engaging experience across all touchpoints – from their website and social media channels to their physical stores – are likely to be more successful in building brand loyalty and driving sales.

What are some of the common lags you notice in typical B2B ecommerce journeys and what best practices would you share?

Many can overlook the fact that the shopping journey starts when a potential customer is looking for a product.  This is important to remember when building an online store. Merchants need to be crystal clear about what they’re selling online and publish detailed and accurate product pages, including features, specifications, and benefits, with high-quality images and/or videos to ensure there aren’t any surprises for the buyer when they receive the product. Poor or limited product content leads to fewer buyers, with approximately 85% of shoppers saying that product information and pictures are important when deciding which brand or retailer to buy from.

Furthermore, they need to ensure that they have a simple, fast, and easy-to-navigate checkout process. A complicated checkout process can lead to cart abandonment, where shoppers leave without completing their purchase meaning all of the merchant’s efforts up to this point ended without a sale. A one-page checkout process is preferable, and any unnecessary steps or fields should be removed to speed up the process. Offering a variety of payment options can be important, particularly for international buyers who may prefer to use local payment methods.

Another best practice for all merchants – no matter their size – is to be smart about inventory management strategies. Setting up the proper fulfillment and inventory flows will help ensure that they’re not overselling items, having late shipments, and other costly mishaps.  Dropshipping and print-on-demand are smart options to avoid juggling inventory supply and demand. Dropshipping allows merchants to fulfill orders as they are placed to avoid guessing the amount of inventory to stock, and print-on-demand adds a layer of customization to those products. Throughout the purchase process, merchants should communicate proactively with customers. This can include sending automated order confirmations, shipping notifications, and delivery updates. Merchants should also provide clear and easy-to-find contact information and support channels, such as email, phone, and chat, to ensure that customers can reach them quickly and easily if they have any questions or concerns.

Lastly, a positive mobile shopping experience is essential. If merchants don’t have a mobile site or a positive mobile experience for their customers, they will miss out on a huge selection of potential buyers, with roughly three-quarters of U.S. adults buying things online using a smartphone. Mobile sites need to be clean, easy to navigate, and efficient. Merchants need to check the format and layout of pages on mobile, audit mobile loading times, and simplify menus, navigation bars, and page elements to account for smaller screens.

If you had to redefine/ reshape five things about the modern state of ecommerce: what would they be?

1. Increased Emphasis on Sustainability: As consumers become more aware of the environmental impact of their purchasing decisions, eCommerce companies will need to prioritize sustainable practices to stay relevant. This could include reducing packaging waste, promoting environmentally-friendly products, and implementing eco-friendly shipping practices.
2. Rise of Social Commerce: Social media platforms are increasingly becoming a place where consumers discover and purchase products. eCommerce companies will need to leverage this trend by investing in social media marketing and ensuring they have a solid multichannel sales strategy.
3. Personalization and Customization: Consumers are increasingly seeking personalized and customized experiences, and online stores will need to meet this demand by leveraging data and technology to provide tailored recommendations and experiences.
4. Increased Adoption of AR and VR: Augmented and virtual reality technologies have the potential to transform the eCommerce experience by allowing consumers to visualize products in their own spaces before making a purchase. Businesses that invest in AR and VR technologies will likely have a competitive advantage.
5. Expansion of Global eCommerce: The eCommerce industry is expanding rapidly across the world, with more and more consumers turning to online shopping. eCommerce businesses will need to consider global markets and adapt their strategies to cater to different cultures, languages, and regulations. This could involve localizing their website, payment methods, and customer service.

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