With the recession looming, it is now more important than ever for eCommerce brands to strengthen their strategy in order to stay on-top during an economic downturn.
So, we did the work for you and reached out to 12 leading eCommerce influencers to get their unique insight on what the focus of eCommerce teams should be to maximize business during a recession.
1. Karl Lillrud, Bestselling Author & Entrepreneur
With distinctions as a keynote speaker, growth consultant, and thought leader, Karl Lillrud has been named a top 30 global motivational speaker by Global Gurus. Karl’s 25 years of experience leads eCommerce companies to reach the next level with a unique understanding of their business, goals, and challenges, to enable rapid growth.
2. Larry Kim – Founder, MobileMonkey
Larry Kim is the CEO of MobileMonkey, Inc., which works to build the next generation of AI-based Mobile Marketing Solutions through its OmniChat Marketing Platform by connecting with customers on the messaging platforms they use every day. Larry has a history of founding successful companies, with WordStream being acquired by Gannett for $150 million in 2018.
3. Mike Wittenstein – Founder, Storyminers
Mike Wittenstein founded Storyminers nearly two decades ago to help eCommerce leaders leverage the power of their story to develop strategies that increase and sustain their competitive advantage. Mike partners with entrepreneurial leaders as a co-thinker to help them articulate their vision, bring their teams on board, and adapt quickly and confidently in a changing world.
4. Chloë Thomas – Podcast Host and Author, eCommerce MasterPlan
Chloë Thomas is a globally recognised eCommerce marketing problem solver. As the author of several bestselling books, a keynote speaker, and an advisor, Chloë strives to help businesses find the right way to grow. In addition to this, she is the host of both the award-winning eCommerce MasterPlan Podcast and the Keep Optimizing marketing podcast.
5. Connor Gillivan – Founder at EcomBalance
Connor Gillivan is the Founder of EcomBalance, a US based bookkeeping and analysis service for eCommerce businesses. In addition to this, Connor founded the Outsource School which aims to teach business owners and entrepreneurs how to hire and scale. Connor is on a mission to make it simpler for eCommerce businesses to understand their numbers and make smarter decisions.
6. Bryan Gildenberg – SVP, Commerce at Omnicom Commerce Group
Bryan Gildenberg is the Senior Vice President of Commerce at the Omnicrom Commerce Group (OCG), which is a community of eCommerce experts who create omnichannel strategies to drive conversions and support seamless customer experiences. Bryan works to strengthen the retailer intelligence at OCG as a vital partner to their clients.
7. Eli Weiss – Sr. Director of CX & Retention at Jones Road Beauty
Eli Weiss has spent the last eight years building and operating early-stage startups, and is particularly known for his work with Customer Experience and Retention for DTC brands. Eli now works as Sr. Director of CX & Retention at Jones Road Beauty.
8. Andrew Busby – Founder at Retail Reflections
Andrew Busby is the Global Industry Leader Retail at Software AG and the Founder of Retail Reflections. Through these roles, Andrew has helped retail businesses realize their digital transformation objections and lead them to success. Ranked as a top global retail influencer by many notable eCommerce platforms, Andrew is one of the most influential figures in retail.
9. Miya Knights – Director and Publisher, Retail Technology
Miya Knights has 25 years of experience as a retail technology analyst, editor, author, and consultant. She is the owner and publisher of Retail Technology magazine and has co-authored two best-selling books about Amazon and Omnichannel Retail. Named one of top retail influencers in 2022 by RETHINK Retail and the Retail Technology Innovation Hub,
Miya has been recognized by numerous media outlets as a prominent figure in the eCommerce industry.
10. Kristen LaFrance, Director of Community, Repeat
Kristen LaFrance is devoted to creating meaningful relationships with customers to help get CPG brands from purchase one to purchase two+. Kristen is the Director of Community at Repeat, a SaaS platform that enables these brands to turn one-time buyers into repeat customers. She is also the podcast host and founder of DTC Fam Media, where she spreads her knowledge to help brands grow.
11. Scott Emmons – Business Development Manager, Powerfront
Scott Emmons works to deliver game changing solutions for the customer experience with brands and technology partners around the world. As a visionary pioneer in the eCommerce industry, Scott created the innovation lab (iLab) during his time at the Neiman Marcus Group, and is now a brand ambassador for the Powerfront team, a leading provider for customer engagement technology and solutions.
12. William Harris – Founder & CEO, Elumynt
William Harris is the CEO of Elumynt, a performance driven eCommerce growth agency. Within the last couple of years, he has helped over a dozen clients get acquired by focusing on EBITDA-driven advertising. Harris is a regular contributor to large eCommerce publications such as Entrepreneur and Shopify Plus, as well as a speaker for large events like CoffeeFest.
Where Should Brands Be Focusing Their Efforts in Order to Come Out on Top?
Considering the many diverse perspectives that the eCommerce influencers of the world have to offer, there is a common theme to be taken away from it all.
Delivering a positive customer experience is key to making meaningful connections between shoppers and brands. Therefore, building loyalty and raising customer retention rates is the most important area for your business to focus on during a recession. Utilizing a variety of tools to support a seamless digital journey such as marketing automation technology, augmented reality assets, and social media can help businesses better understand the behavioral differences of their consumers.
So, while the recession may pose a threat to your margins, it also provides an opportunity to outshine your competitors and foster relationships with loyal customers, ultimately enhancing your overall brand perception.