Live Blogging from 2013 Catalyst Americas: Forrester

April 30, 2013

Welcome to the live blog for ChannelAdvisor. We’ll be live blogging
the general sessions at Catalyst to make sure attendees don’t miss
anything. Also, make sure you’re following hashtag #CatalystAmericas and @ChannelAdvisor on Twitter for all of the latest.

Speaker:

Title: How Retailers Can Innovate to Take Advantage
of Digital Disruption – presented by Forrester Research

Speaker: Shar VanBoskirk,Vice President, Principal
Analyst, Forrester Research

Mobile commerce will top $31 billion dollars by 2016
according to Forrester.  The mobile
mind-shift is occurring for consumers as mobile becomes a pivotal part of peoples
lives. Prior to mobile, comparison shopping tools were primarily used on PCs,
today consumers can make decisions on their purchase in store.

What is agile innovation
and how can it help?

Most
companies find innovation risky. Shar recommended the framework for innovation
should be:

Everything is a
point of interaction.
Expand on touch-point mapping to discover if there are new ways to
interact with customers. Look for negative touch-points such as frictions
internally. Turning these negatives to positives can be your biggest source of
innovation.

Launch quickly then
test to improve
. The challenge with building slowly and testing is that its not fast
enough to keep up with digital disruption and evolving customer demand. Once
people use your innovation, you can gauge reactions and improve around those
reactions.

Collaborate with
internal and external stakeholders.
Your stakeholders have some of the
best ideas, use them and involve them in the innovative process.

Adjust based on
market conditions.
This is different to testing to improve; this is how you will react to
shifts in market conditions or competitive changes.

To Do List: Take
Aways From Session

Enable relationships. In the future of retail, you
will need unique customer relationships. Building your business model on that
is a good move. Facilitate an experience for your customers.

Embrace agile tools and processes. What new systems
will allow you to be more agile?

Apply search smarts to shopping feed strategy. optimise your product feed, target specific shpppers, apply bid management to product listing ads and continuosly test.

Use customer knowledge to stretch your business model. Use that information to expand your relationship with them. 

Reminder for the Catalyst America’s social
presence: