A conversation with Sophie Frères from LiSA about innovative approaches to community centricity and social commerce in retail
In a world that is constantly changing, companies face the challenge of staying innovative and adapting to new trends. Listen to the latest podcast episode of "Hope is not a strategy" in which Christian Underwood and Sophie Frères, CEO of LiSA, discuss key strategies and business innovation approaches using the example of social commerce for retail. Especially in retail, the ability to respond to new technologies and consumer behavior is critical to success. This episode highlights the transformative power of social commerce and how companies can build a strong community for their products through authentic and innovative approaches in retail and thus massively strengthen their market position.
What is social commerce?
Social commerce goes beyond simply selling on social media. It is an integrative approach that combines content creation, interactivity and direct shopping opportunities. Platforms such as TikTok and Instagram are pioneers in this area, but traditional retail brands such as Marks & Spencer are also using social video content formats on their website to offer customers an interactive shopping experience in real time. Sophie Frères, CEO of LiSA, explains that the key to the success of this innovative approach lies in building a community that not only buys products, but also actively participates in the brand experience.
The LiSA company and its role in social commerce
LiSA takes an innovative approach by future-proofing digital retail through community-centricity. This means that LiSA's social commerce platform is not only focused on pure sales, but on creating deep, community-based interactions that foster long-term customer loyalty.
Originally started as a project title for an online store for children's fashion, LiSA has developed into a leading player in the field of social commerce. The company offers solutions that enable brands to present their products seamlessly on various platforms and make them available for purchase, while at the same time building their own community.
Focus on strategic innovation management
In conversation with Sophie, it becomes clear that strategic innovation management is crucial for success in the digital age. It's not just about integrating new technologies, but also developing new business models aimed at building and maintaining a community. This can be done through user-generated content (UGC), interactive shopping experiences or personalized offers.
One example of the successful application of social commerce is LiSA's collaboration with the jewelry brand Friday Atelier. By implementing a simple shop-with-stories solution that integrates Instagram stories into the online store, the company was able to increase the average basket size by 30% and double the time spent on the website.
Challenges and opportunities of business innovation
Sophie and Christian discuss the challenges that companies face when implementing such innovative strategies. In the German market in particular, fear of making mistakes and reluctance to embrace new technologies such as live shopping is widespread. Traditional management structures and concerns about brand reputation can hinder the rapid introduction of such innovations.
The solution is to overcome these challenges with small, low-risk steps. By using existing resources and simple, cost-effective solutions, companies can already achieve initial success and strengthen confidence in new technologies. The focus should be long-term by continuously monitoring trends and adapting your innovation strategy accordingly.
Sophie and Christian emphasize that innovation today is seen less as revolutionary and more as a continuous process of adaptation to constantly changing market conditions. Companies are encouraged to question existing structures and promote a willingness to continuously learn and experiment in order to remain competitive in the long term.
Conclusion
Strategic management plays a decisive role in the sustainable success of companies, especially in times of rapid change and increasing digitalization. Companies that implement strategic innovations effectively can not only strengthen their market position, but also tap into new, profitable business areas. The example of LiSA illustrates how a targeted strategy can not only increase sales, but also promote strong brand loyalty through community building. Through strategic innovation management, companies can respond to market changes at an early stage, take advantage of technological trends and engage with their customers on a deeper, more personal level. In an increasingly digital world, it is essential to make strategic decisions that support both short and long-term business goals and ensure competitiveness.
SHOWNOTES
StrategyFrame® ACADEMY
Sophie Frères
LiSA
Christian Underwood
StrategyFrame
Podcast "Hope is not a strategy"
Book "Hope is not a strategy"