Streamline and Simplify - feat. Keith Anderson, SVP of Strategy & Insights at Profitero

Future Commerce Podcast: eCommerce, DTC and Retail Strategy

• Episode: Streamline and Simplify - feat. Keith Anderson, SVP of Strategy & Insights at Profitero
• Website: Future Commerce Podcast: eCommerce, DTC and Retail Strategy
• Feed URL: https://rss.simplecast.com/podcasts/2042/rss
• Duration: 00:52:02
• Published: 2020-07-17 13:00

What is Profitero?

• Profitero is a platform for eCommerce performance, measurement, analytics, and optimization for brands primarily in Europe, North America, and Asia.
• Profitero isn’t an agency, though it has similarities. Profitero doesn’t actually perform the work for the brands, but does create data and create tech to make that data valuable.
• Agencies have seemed to be expendable or interchangeable in the past. Profitero comes in to perform the “know-how” of an agency, but allows the work to be performed in-house. This allows for better visibility into the processes and its effectiveness.
• Some brands that Profitero works with are working with agencies that are managing their eCommerce DTC, their Amazon presence, their paid media, etc. and Profitero’s data helps to inform and optimize all of those processes.

How are brands moving forward?

• “Everybody that was doing eCommerce is doing much more of it. Everybody that wasn’t doing it wants to do it. Either way, everybody needs to know: how do we do it and is it working?” - Keith Anderson
• CPG brands (Pepsi and Heinz, for example) have pushed into having their own DTC platforms. During COVID, CPG brands that traditionally relied on retailers had to push into having their own domains in order to have that direct connection value due to supply chain disruptions or limitations on “non-essential” items.
• “We need to de-risk our dependency on others for fulfillment of demand.” - Keith Anderson

CPG to DTC

• First-party data about customers is valuable - knowing who they are, how they’re behaving, and having direct lines of communication.
• In having your own DTC domain, loyal customers have a place they know they can receive your full selection and in displaying that selection, you have full control over the way those products are presented and priced.
• Both Indirect (retail) and Direct eCommerce presences have value. Typically, these two branches lack communication with each other. COVID has pushed the realization that these organizational structures should be simplified so that brands can quickly and effectively adapt to a changing market.
• Brands should recognize that moving into DTC is a way to get closer to their consumer, get more control over their brand and customer experience, and be more personal with their consumer instead of looking to DTC as a singular pathway to your consumers or as a way to get discovered by new consumers.
• Anderson advises focusing on sustainability for long-term exponential growth: “The sooner you do the right thing, the better the outcome.” - Keith Anderson

CommerceLive

• Profitero hosted a webinar conference to help discuss the uncertainties of the global pandemic and what brands can do to stay ahead.
• “All of your scarce resources really have to be revisited during times of volatility, uncertainty and crisis.” - Keith Anderson
• CommerceLive wasn’t opportunistic, but very community-centric and community driven.

Links

• Jackson Jeyanayagam’s appearance on Future Commerce, Episode 175: “Around You, On You, In You”
• Profitero’s CommerceLive video replay gallery
• Visit Profitero’s website
• Connect with Keith Anderson on Twitter

Have any questions or comments about the show? You can reach out to us at [email protected] or any of our social channels, we love hearing from our listeners!