Philadelphia, PA (July 18, 2012) – Monetate, a provider of cloud-based technology for ecommerce marketers, today announced the release of a commissioned study by Forrester Consulting titled “Getting The Most From Your Replatforming Project.” Through in-depth surveys and interviews with ecommerce and technology professionals, the Forrester report uncovers the best practices, common pitfalls, lessons learned and key recommendations during an ecommerce replatforming project.
“Nearly every ecommerce organization faces the replatforming issue,” said David Brussin, founder and CEO of Monetate. “This report’s findings reflect the questions we hear from our customers on a regular basis; ‘How do I run a smarter replatforming process, and how do I continue to optimize my online store throughout the project?’ We commissioned this report to help businesses mitigate the risks of replatforming, and to provide recommendations that ensure success.”
(Click here to read the blog post: “6 Critical Steps to Take Before a Replatform”)
With 97% of ecommerce shoppers reporting that a website experience has impacted whether they purchased a product or service from a brand,1 ecommerce IT and marketing professionals are challenged to create more personal, relevant online customer experiences. However, as the Forrester Consulting report reveals, there are certain common considerations that marketers should be aware of prior to committing to a replatform, including:
- Key performance indicators tend to dip post-launch. KPIs like conversion rates and average order values often dip following the launch of the new platform and take up to three months to return to pre-launch levels.
- The average delay for replatforming projects is 3.9 months. A four-month project delay amplifies risks associated with launching the new platform.
- Scope is a common victim of replatforming projects. In order to meet timelines and budget, 25% of organizations end up limiting the project’s scope, which can negatively impact the ROI.
- Multiple forms of testing are critical to success. Critical success factors marketers must make time to thoroughly test during a replatforming project include: the design of features, the layout of the site, and business user tools. Testing should be done before, during and after the replatform.
The Forrester report also offers seven Key Recommendations to help brands prepare for the challenges of a replatform. These insights include practical tips such as using the STEP (scenario-based technology evaluation) for vendor selection, as well as more bottom line-focused insights, like the importance of keeping the business vibrant and growing during the replatform.
“While replatforming is an inevitable reality for most ecommerce and multichannel businesses, it can be a daunting undertaking,” said Bob Myers, CEO of Sheplers. “This report really captures what those of us who’ve been through the replatforming process know; that to be successful, you must test throughout the entire process, set expectations of the C-level, and continue to innovate throughout the project.”
To read the research report in full, download “Getting The Most From Your Replatforming Project.”
1 “Razorfish Digital Brand Experience Study,” Experience Group at Razorfish, http://feed.razorfish.com/feed09/read-this/
Monetate drives billions of dollars of revenue every year for some of the best-known brands in the world, including Best Buy, QVC, Urban Outfitters, Aeropostale, The Sports Authority, and PETCO. The company’s comprehensive product suite and conversion expertise enable marketers to deliver a more relevant customer experience with unprecedented agility.
Leading marketers rely on Monetate’s cloud-based browser technology to achieve a new level of speed and control, allowing them to run 16 times more optimization campaigns compared to industry averages. The Monetate Agility Suite includes advanced products for testing, merchandising, targeting, and cross-channel consistency, providing an opportunity to bypass IT restraints and react in real time to customer demands. Monetate also helps marketers implement best practices and drive online revenue through its expert strategic services and content publishing teams. For more information visit http://monetate.com/ or follow us on Twitter @Monetate.
Director of Corporate Communications
Launchsquad for Monetate