The Future of Retail Over The Next Five Years, with Victor Rosenman, CEO Feedvisor and Aaron Weiner

I had the pleasure of interviewing Victor Rosenman. Victor is CEO and founder of Feedvisor. Before Feedvisor, Victor founded an innovative social media marketing startup, Sun Microsystems, and also served as a senior R&D manager there. Victor holds a B.Sc. in computer science and an executive MBA from Kellogg Northwestern.

Can you tell us a story about what brought you to this specific career path?

My career has always centered around technology and connecting people to the best possible resources to drive success. When I started consulting early on in my career, I noticed a great deal of confusion and frustration among clients in the e-commerce space. No one understood how to navigate Marketplaces or leverage these brand new channels to drive positive business outcomes. I saw a need to guide sellers into the next generation of sales and customer engagement, and understood how machine-learning technology could play a role in that narrative. Ultimately, I cemented my path by founding Feedvisor in 2011.

Can you share an interesting story that happened to you since you started your career?

While I was still running my consulting business, there was one day when I noticed the price of a particular book on Amazon spiked to $1 million. Within an hour, there were several news stories published online and the public was collectively shocked about how such a dramatic price change could be possible. It was one of the first times I observed a real-world example of the complexities of Marketplace pricing.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?

Right after founding Feedvisor, I went on vacation to an unplugged region of Switzerland. I ended up spending most of my time running back and forth to a restaurant in the nearest town to use the wifi, and got caught up navigating time zones to get customers the insights they needed. It sounds like a small memory, but it was an important reminder of how passionate I am about making a difference for the clients we serve.

What do you think makes your company stand out? Can you share a story?

At Feedvisor, we’re leading brands and retailers into the future of e-commerce. Amazon is increasingly becoming the go-to destination for online shoppers, but as it evolves it is becoming more complex to successfully run a business on the Marketplace. Through “AI-first” optimization and intelligence technology, Feedvisor enables large sellers and brands to grow their Amazon business. Our team of Amazon experts and data scientists provide strategic insights and hands-on support on an ongoing basis. At the end of the day, innovation is and always will be at the core of our company, and our hunger to empower customers is what truly differentiates us from our competitors.

Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?

Be transparent and align expectations. Keep your team aware of any overarching changes that will impact either the internal or external functions of the business. Be sure that every team member thoroughly understands their specific role and is aware of their expected contribution to the company’s overall goals.

Encourage collaboration and a supportive team culture. At Feedvisor, we value collaboration and take ownership of our work. Whether that means supportive relationships within teams or creative experiments across departments, providing your employees with the resources they need to show them they are fully valued will go a long way. This is how we got to where we are today.

Make innovation a constant. Especially in the e-commerce space, changes take place everyday across consumer trends, marketplace policies, and industry best practices. Regularly monitor these changes, and use them as motivation to evolve. In a rapidly changing consumer retail ecosystem, innovation will be the defining factor of long-term success for your business.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?

None of our success would be possible without the support of Feedvisor’s board members and team of advisors. I’m so proud to say that Feedvisor hires the brightest, most innovative minds across diverse industries like retail, e-commerce, technology, branding, and digital marketing.

Are you working on any exciting projects now?

Always! We have a clear picture of our customers’ goals, and our team is constantly working on projects that help our customers drive demand, profit, and revenue growth to their Amazon businesses.

Can you share 5 examples of how retail companies will be adjusting over the next five years to the new ways that consumers like to shop?

• Harnessing artificial intelligence. AI-powered platforms will allow for more personalized, targeted experiences and marketing campaigns, which, if leveraged properly, can drive incremental sales for retail companies. By automating processes, retail companies can save time, improve operations, and focus on tailoring their store to each customer.
• Capitalizing on personalization. Today’s e-commerce landscape is extremely competitive, so a personalized marketing campaign or shopping experience can make all the difference for online retailers. Companies will continue to incorporate personalization into various facets of the customer experience, from end to end. From email personalization to targeted landing pages and product bundles, creating a customized experience between the company and the buyer drives brand loyalty and engagement and shows the customer that their best interest is in mind.
• Solidifying an e-commerce presence. If a retail company doesn’t have an e-commerce presence, now is the time — more customers are expecting a seamless online retail experience than ever before. Last year, Amazon claimed 44 cents for every e-commerce dollar spent in the U.S., and it’s projected to account for 58 percent of all U.S. e-commerce sales by 2020. Whether you decide to integrate online and in-store shopping or add a specific online channel, act quickly or risk losing out to competition.
• Implementing rapid delivery. As we have seen with the Amazon Prime program, fast delivery has become increasingly mainstream today. It will continue to become even more integrated into the buying process, so retail companies should optimize for same and next-day delivery. They should revisit their shipping and delivery models to ensure they are receiving ongoing value and are well-equipped to provide an efficient delivery process for customers. Customers expect fast and easy processes not only for their purchases, but also for returns. Smooth, hassle-free returns are becoming more commonplace as the retail landscape continues to evolve.
• Utilizing voice commerce. Amazon’s Alexa was one of the top sellers from Prime Day 2018. AI-enabled technology as a whole allows for convenience, instant gratification, and ease of use during the customer buying process. Retail companies can and will adjust to adapt content and ad copy to take voice search into consideration — giving them a competitive advantage over sellers who aren’t optimizing for voice search.

If you could start a movement that would bring the most amount of good to the most amount of people, what would that be?

Transitioning toward clean energy is the most critical issue facing our planet today, and it’s also an issue where each of us can make small changes that can lead to a significant impact . One of the major roadblocks in energy efficiency is customer engagement, and I think utilities can learn a lot about how to get customers on board by exploring case studies in the e-commerce revolution.

How can our readers follow you on social media?

Keep up with Feedvisor by following us on Twitter @feedvisor.

This was very enlightening, thank you so much for joining us!