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Apr 15, 2024 | 8 minute read

Skyrocket Commerce Revenue in Three Months: Gartner Recommendations, Made Possible by Elastic Path

written by Seamus Roddy

Add it to the evidence that the age of the required replatform is coming to an end: In a recent report, Gartner analysts said that leading brands are increasingly approaching commerce innovation “with reasonable incremental efforts rather than a big-bang approach.”

Those incremental efforts include actions Gartner recommends for brands to act quickly to boost commerce revenue without breaking the bank. All 20 of Gartners’ quick commerce fixes are available in the full report – most can be implemented within three months.

We agree with Gartner’s independent assessment of the commerce market, and we’re proud that Gartner’s actionable tips to increase AOV and conversion rates are made possible by Elastic Path’s family of modular, composable products.

Ready to get fast value on commerce innovation? Learn about five commerce actions recommended by Gartner that Elastic Path brings to life. As a bonus, you’ll get insights into a sixth, organizational-wide recommendation from Gartner that Elastic Path unlocks for commerce innovators.

6 Gartner Commerce Recommendations That Elastic Path Makes Possible

  1. Increase profits with smart merchandising
  2. Run marketing campaigns that increase traffic and drive sales
  3. Improve product discovery
  4. Add customer reviews
  5. Provide alternative payment options
  6. Improve organizational efficiency and productivity

1. Increase profits with smart merchandising: flash sales, buy-one-get-one, coupons, discounts, dynamic bundling

The Gartner recommendation: Gartner urges brands to sell products at the right time at the right price to the right customer to increase not just revenues, but business profits.

What does this mean in practice? It could be launching a site-wide flash sale to clear overstock items, or it could mean only targeting certain users with promotions and discounts. It could be pairing together products in dynamic bundles. It could be dynamic pricing broken down by category.

The result of identifying and implementing smart merchandising strategies is opening up a flood of new revenue streams while maintaining or improving strong profit margins.

How Elastic Path makes it possible: Elastic Path has the strongest, most robust smart merchandising capabilities in commerce. Elastic Path Product Experience Manager has merchandising and catalog management capabilities that unlock the ability to create flash sales, buy-one-get-one promotions, discounts, dynamic product bundles, and more,in a matter of minutes, and without relying on IT or dev support. The result is empowered merchandisers, a faster time to market, and less time and costs spent on technical support. More revenue, less cost, efficient and productive business users: Gartner’s recommendation, brought to life.

See Elastic Path bring the recommendation to life: With Elastic Path, you can set up a flash sale that boosts AOV and revenue in a matter of minutes and clicks. Watch a short demo to see Elastic Path’s merchandising power in action.

2. Run marketing campaigns that increase traffic and drive sales

The Gartner recommendation: Gartner recommends that all businesses selling online prioritize driving high-quality traffic to pages that spotlight and sell products. According to Gartner, product traffic is directly tied to revenue, as it increases awareness and drives sales. To Gartner, marketing is a revenue-generating activity, and when done efficiently for the right amount of time and money will result in organizational profit.

How Elastic Path makes it possible: Elastic Path CX Studio gives merchandisers and marketers the ability to quickly generate high-converting shoppable landing pages without code or IT support. CX Studio’s no-code visual editor, first party analytics, A/B testing, one-click integrations, and SEO tools and tracking mean that landing pages can be created fast and at scale, reach customers, and drive revenue.

We used CX Studio to test the copy on our request-a-demo landing page. The test showed a 9.4% conversion rate for version A and a 16.7% conversion rate for version B. When we needed to decide on the final copy, we had clear, specific data to help us make a conversion-boosting decision for version B.

compt logoSarah Bedrick CMO

See Elastic Path bring the recommendation to life: Launching a product? Considering a seasonal sale? Heard the buzz about commerce-enabled landing pages and want to try them out? CX Studio gives your merchandisers and marketers the ability to create stunning, revenue-generating landing pages in minutes. Watch to see a business user create a pre-sale landing page to attract customer sign-ups.

3. Improve product discovery

The Gartner recommendation: With the average buyer spending less than a minute on any given webpage, it’s critical to give your website’s visitors what they’re searching for – before they turn to competitors. Gartner recommends improved product discovery to boost conversion and make more online sales.

How Elastic Path makes it possible: Elastic Path is a composable commerce provider. That means supporting commerce architectures with best-of-breed vendors powering specific components. Elastic Path Composer’s Integrations Hub offers instant-on integrations with Constructor, an AI-powered search and discovery platform, and Algolia, a leading site search provider. Both integrations are available without code and can be integrated in a matter of clicks and minutes, providing unparalleled speed and efficiency in accessing conversion-boosting product discovery.

4. Add customer reviews

The Gartner Recommendation: When it comes to building buyers’ trust, Gartner recommends reviews. In the report, Gartner says that reviews bolster buyers’ confidence in purchases, and that even replying to negative reviews can demonstrate a commitment to customer satisfaction. Other research has shown reviews boosting conversion rates by nearly 400%.

How Elastic Path makes it possible: Integrations Hub offers a pre-built, no-code, instant-on integration with Yotpo, an eCommerce retention marketing platform. The integration:

  1. Enables reviews and ratings on your online store
  2. Syncs to your site search provider
  3. Includes a feature in review request emails are automatically sent to buyers

Collect enough positive reviews and you might decide to feed review data to your site search provider, putting positive reviews and social proof at the forefront of your commerce experiences.

5. Provide buy now, pay later and alternative payment options

The Gartner Recommendation: If a buyer wants to pay you, do everything you can so that they can pay you in their preferred method. That’s Gartner’s advice on offering “buy now, pay later” solutions and alternative payment methods. According to Gartner, supporting different payment cadences and methods reduces friction and increases conversion.

How Elastic Path makes it possible: Elastic Path Payments supports buy now, pay later functionalities, as well as other alternative payment methods such as Apple Pay and Samsung Pay. Our Payments solution also supports pre-orders and buy online, pick up in store options, giving customers like Billfold game changing payments functionalities.

Our previous technology stack had a bunch of faults. We couldn’t support Apple Pay or Samsung Pay – which customers at events now expect to use. Elastic Path helped us unlock both and offer our clients a better product.

Billfold logoStas Chijik CEO and co-founder

6. Improve organizational efficiency and productivity

The Gartner Recommendation: Not all of Gartner’s recommendations can be fully implemented. In the report, Gartner exhorts brands to improve their organizational efficiency and productivity, leaving the siloed digital commerce strategy of the past behind. In Gartner’s words, “Without ongoing cross-functional collaboration, digital commerce will not be able to deliver satisfactory results.”

How Elastic Path makes it possible: Shifting to a modular, composable commerce approach means working differently. With Elastic Path’s suite of composable products, business users get increased control over commerce functions. Your IT team isn’t bogged down with requests, your developers are free to innovate and build new features, and your merchandisers and marketers have the power to launch and optimize revenue-generating commerce experiences.

Want access to the full list of Gartner’s commerce recommendations? Download the report today.

Gartner: 20 Tips for Increasing Revenue

Get actionable tips for increasing AOV and conversion rates, minimizing return and shipping costs, and improving operational efficiency.

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