What’s your modern commerce strategy? If you can’t answer that, your business is in jeopardy. Disruption in the food and beverage industry is changing how food and beverage manufacturers will compete in the future. And companies who implement a modern commerce strategy now will create a clear competitive advantage with their customers. According to Gartner, 89% of marketing leaders expect to compete primarily on the basis of customer experience.* As we’re all learning, providing a frictionless buying experience for your customers – a key component of modern commerce – will soon be required. You will not be able to maintain or grow your business unless you leave traditional methods in the past.
Don’t panic, creating a modern commerce strategy is easier now than ever. Advances in technology and data science are shaking up how companies approach their pricing strategy models. Dynamic pricing science is the key to success in modern commerce. Food and beverage companies are now leveraging machine-learning algorithms to deliver the right solutions to the right customers at the right prices, on the fly. This sophisticated go-to-market strategy is bringing them closer to their customers, shortening quote turnaround times, and improving the top and bottom line. Your competitors are leveraging these new technologies. Are you?
There are 4 easy steps to implementing a modern commerce strategy:
#1 – Understand the cost of the status quo #2 – Develop a modern commerce strategy #3 – Get the REAL value for your products #4 – Create a personalized customer experience
Download the PROS Modern Commerce Tip Sheet to learn more.
*Gartner: Customer Experience is the new Competitive Battlefield, November 2016
About the AuthorMore Content by Tim Chilson