The Conversations in Commerce fireside chat during NRF’24 brought together leading minds to demystify platform migration. This gathering provided a rare glimpse into the collective wisdom of industry leaders as they navigate these complex projects.
- David Cost, VP of Digital & Ecommerce at Rainbow Shops, brings firsthand experience with two major migrations, underscoring his adeptness at steering digital strategies.
- Ben Crudo, CEO of Diff Agency, has done more migrations than he can count, bringing over a decade of consulting experience to the table.
- Vicki Bodwell, Sr. Account Executive, Enterprise at Shopify, serves as the moderator with over 4.5 years at Shopify and involvement in more than 30 migration projects under her belt.
“The decision to pull the trigger on migration is fraught with risk. There are many people who have lost their jobs when it doesn’t go well. It’s not something to be entered lightly.” - David Cost
In light of David’s warning about the professional risks of platform migration, it's crucial to approach this decision with a comprehensive analysis of your business needs. Below are key factors you should carefully evaluate:
“Problems usually arise because a clear direction hasn't been established. Important stakeholders haven't been able to weigh in and provide feedback that's necessary, which then is going to trickle down to the working team.” - Ben Crudo
Achieving alignment across all levels of the organization is paramount. David shared that while his engineers were eager to embrace Shopify for its innovative features, his merchants had apprehensions. Engaging all teams early in the decision process, demonstrating the new platform's benefits, and how it simplifies daily operations can foster acceptance and enthusiasm for the change. This collaborative approach ensures that all stakeholders are committed to success.
“You’re not optimizing your business’s entire potential if all you’re trying to do is save money. The real question is, how do we make more money? That’s the big problem to solve and Shop Pay offers an incredible advantage due to the network effect it has.” - Ben Crudo
A standout feature of Shopify, as discussed by all panelists, is its superior checkout process, particularly through Shop Pay. This allows retailers to rival Amazon’s checkout in terms of speed, efficiency and conversion rates. Their praise for Shop Pay underscores a critical point: in the digital marketplace, where every second counts, the best checkout wins. And this factor should be weighed heavily when you’re reviewing platforms.
David's strategy emphasizes the need for a platform that promises not just current solutions but future growth through innovation and support. This foresight involves evaluating how a platform stays ahead of trends like AI, augmented reality, or voice commerce, ensuring you have the tools to remain competitive. It's about choosing a platform that not only solves today's challenges but also empowers your business to leverage tomorrow's opportunities.
Ben stresses the importance to focus on core business objectives amidst the allure of new technology. The foundation of any successful ecommerce operation lies in mastering the basics such as user experience and checkout efficiency. These are non-negotiable elements that directly impact customer satisfaction and conversion rates.
David echoed this sentiment by sharing his method for analyzing new technology: “When we evaluate anything, it’s pretty simple. You’ve got traffic, conversion rate and average order value. You multiply those three things together and you get your sales number. Every piece of tech that we look at has to move one of those three things.”
“Choosing a new platform is not just a technological change, but a strategic shift for the business. It signifies a profound transformation in how a business operates, engages with its customers, and positions itself in the marketplace.” - Vicki Bodwell
The insights shared during Conversations in Commerce underscore the nuanced considerations businesses must navigate in platform migration. It’s a strategic decision that requires a balanced assessment of risks, a clear vision for the future, and an unwavering focus on business objectives. For those contemplating this journey, partnering with the right platform, vendors and consultants is a pivotal step towards ensuring a successful migration and securing a competitive edge in digital commerce.
