When it comes to online shopping experiences, the new normal is for brands and merchants to engage customers wherever they are, react on the fly to changing consumer needs, and constantly iterate on the commerce experiences they deliver.
While these demands have created a strain on many merchants’ budgets, via Magento Commerce, Adobe has forged an unbeatable path to empower businesses, of all sizes, to better orchestrate end-to-end experiences they deliver to customers across every channel – in a cost-effective way.
It’s for this reason we continue to invest in additional resources, research and capabilities that enable merchants to target new audiences, easily reach more customers, and ultimately drive real revenue and profit growth.
Total Cost of Ownership
Earlier this year we commissioned Stax, a global strategy consultancy, to evaluate the business value associated with a Magento Commerce 2 migration.
The study sampled customers of varying size, geographies, and their paths to Magento Commerce 2 (those that migrated from version one vs. those that ditched a competitive solution). Stax revealed key insights about the decision-making process, KPIs, cost, and other benefits associated with upgrading the commerce solution.
“Benefits of migration include the ability to drive revenue growth, increase average order value, improve website conversion rates, and increase site traffic,” said Gregg Silver, engagement manager at Stax. “The key findings show there are clear benefits to implementing Magento Commerce 2.”
Indeed, customers that have migrated to Magento Commerce 2 already experience a cost savings of 62% when deploying new content, such as landing pages, new product launches, etc. Here’s how: Magento’s intuitive user experience design makes it easier for marketers and merchandisers to create and manage content, freeing technical resources to focus on higher value needs and allowing for more tailored content. This will be augmented with PageBuilder functionality in version 2.3.
Customers also achieve greater efficiency through Magento Commerce 2’s extension marketplace. Versus building out comparable functionality on their prior platform, customers saved an average of 91% when purchasing and implementing a Magento Commerce 2 extension. For example, on a competitive solution, it would cost $11,000 to replicate the functionality of a Magento Commerce 2 extension that only cost $1,000. There are also built-in “premier” extensions that significantly cut down the time and money spent to implement key capabilities such as marketing automation, shipping & logistics, payment, fraud protection, and more.
Gregg at Stax said, “The breadth of platform is something that is top of mind for folks. The idea that they can get a feature-rich technology in a more open environment that welcomes extensions or customization is attractive, as are the efficiencies associated with Magento’s scalable architecture.”
Based on the respondents that recently converted to Magento Commerce 2 from a competing solution, their reasoning for choosing the platform was based on how it can be customized to meet their specific needs. For example, customers reported that they benefitted from the platform’s easy-to-use content development functionality, multi-site capabilities, native B2B functionality, and comprehensive security standards.
For those customers considering a migration from Magento 1, the study indicated that they should focus on selecting an experienced implementation partner, which can be instrumental in mapping out their current setup and desired performance, preparing migration of data and processes, documenting the critical functionality for implementation, and designing a roadmap for future functionality needs.
The Stax research found that Magento partners play a key role in helping organizations – both big and small – succeed. From solution partners to technology partners and community insiders, we have no shortage of trusted companies to help our customers transform and grow their business.
“Magento really does differentiate itself by having a robust network of partners that have experience implementing a variety of business cases,” Gregg said. “Make sure that you have the right partner because they can help you to prepare more effectively and to maximize the outcomes that you can achieve post implementation.”
The research shows that there are many benefits of migrating or converting to Magento Commerce 2 and value realization will only grow as we continue to integrate our product into the larger Adobe Experience Cloud suite of products.
Our future—and the future success of our customers – requires mastering the end-to-end customer experience, from discovery all the way through post-purchase. It’s what we at Adobe call customer experience management (CXM). CXM will separate the winners from the losers, and we’re here to help you become an experience business.
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