Mobile Commerce Jargon Every Company Must Know
Experience-Driven Commerce
Experience-driven commerce is a wide term covering the whole spectrum of a customer’s journey along the sale cycle and beyond. In simple terms, it means optimizing resources, channel integrity, connectivity and communication across channels to provide a seamlessly integrated, intuitive and hassle free shopping experience to the customer.
While experience-driven commerce seems like a concept businesses have been already working on, the implementation of the technology and intertwining it with business strategy is the challenge. To take a use case for instance, Nina, a snowboarding enthusiast updates her FaceBook page with pictures of her latest snowboarding trip. A friend sends across a video of snowboarding champion doing some real tough snowboarding. While Nina checks out the video she checks out the gear used by the champion, checks out their price, variations and finally orders the pair of shoes that she’s always wanted. Nina is able to do all this without leaving her Facebook Page even for adding things to the cart or making the payment, thanks to experience-driven commerce. There can many manifestations of the concept and the best part is that there is no restriction to how innovative a marketer can get.
While experience-driven commerce seems like a concept businesses have been already working on, the implementation of the technology and intertwining it with business strategy is the challenge. To take a use case for instance, Nina, a snowboarding enthusiast updates her FaceBook page with pictures of her latest snowboarding trip. A friend sends across a video of snowboarding champion doing some real tough snowboarding. While Nina checks out the video she checks out the gear used by the champion, checks out their price, variations and finally orders the pair of shoes that she’s always wanted. Nina is able to do all this without leaving her Facebook Page even for adding things to the cart or making the payment, thanks to experience-driven commerce. There can many manifestations of the concept and the best part is that there is no restriction to how innovative a marketer can get.
Serve Your Customers
There are three words that can determine a business' success – service, service and service. With technology helping crease out operational issues, business houses can utilize the extra time and resources into servicing their existing customers and building up a loyalty base. With social media being such an integral platform, every well-serviced customer automatically becomes a brand ambassador and vice versa.
Application Programming Interface (API)
Application Programming Interface or API is seamless integration of all customer touch-points.
With the advent of smart phones and mobile devices, there are multiple platforms or touch-points wherein the customer comes in contact with the brand. For instance a working professional Zach surfs the Internet for a backpack from his work desktop computer. Later while traveling home from work, Zach checks out retail app for backpacks. He stops over for some food wherein the app sends a special backpack deal along with the location of the store closest to his current location. Across platforms and customer touch-points there is a seamless integration and communication, which facilitates flow of information making each channel both complimentary and complementary to each other.
Mobile mind shift
Mobile mind-shift pretty much is the fact that mobiles have changed the way customers shop – MY PLACE, MY TIME, MY PRICE, MY TERMS shopping. This essentially means that companies not only need to gear up to mobile commerce but to the mobile-first approach. It requires technological changes along with business strategy re-design.
Omnichannel
To begin with omnichannel is not the same as multi channel. Omni channel refers to the brand being omnipresent; on multiple channels but with seamless integration and backend connectivity of all the channels or customer touch-points. Unlike the common misconception, mobile commerce, e-commerce and in-store are not individual profit centers but are all integrated and one-brand experience.
Personalization
This is perhaps the most commonly used buzzword in the industry. Personalization includes collecting customer information from every customer touch-point and building a customer profile that includes information like likes, dislikes, preferences, social profile and all. With this information in hand a company needs to personalize the offer to the customer according to her tastes, her shopping preferences, at a time she is willing to shop from wherever she prefers to shop.
