With time, the way people interact with brands keeps evolving. Modern technological solutions are changing business dynamics and support them to excel in their business from the bottom line. Well, companies are trying their best to cope with trends that emerge in the competitive market. Shoppers these days spend more time on their smartphones; thus, before making purchases, they compare products, search for alternatives, read reviews on various websites, and make the final move.
According to eMarketer, Asia pacific alone produces 62.6% of total digital sales. Indeed, tech solutions have become very innovative and help customers to have a seamless shopping experience. Today, we are living in the times of the digital commerce revolution. Delivering a glitch-free and seamless eCommerce experience is no longer a luxury; it is necessary to survive for modern entrepreneurs.
Before discussing the benefits of Digital Commerce, we should understand the meaning and scope of this segment.
What is Digital Commerce?
Digital commerce is another type of eCommerce used by organizations to deliver and sell products online. In simple terms, D-commerce is just like eCommerce meant for selling and delivering digital goods online. Moreover, D-commence only deals with digital goods, not tangible goods.
Digital commerce products include eBooks, online courses, multimedia content like social media, images, photography, themes, software services like SaaS, and web development. We can not precisely define digital commerce today because technological trends have changed many facets over the years.
In simple terms, digital commerce enables customers to buy products and services online without having direct contact with anyone.
Some of the facets of modern digital commerce contain:
- Content development
- Digital marketing and social media
- Customer service
- Customer experience
- And analytics
It means digital commerce encompassed any transaction that happened over the Internet through any formats such as branded websites, mobile apps, social media platforms such as Facebook and Instagram, or from any shoppable ads.
Perks of Adopting Digital Commerce for Businesses
Conventional businesses are bound by location, but the situation is not the same for companies that have shifted to digital commerce or eCommerce. It offers a plethora of benefits to companies and customers; here, we will discuss the benefits digital commerce provides to businesses; at the end of this post, you will understand that digital commerce is the holy approach of the retail sector.
Irrespective of business type and size, every business’s dream is to expand its reach to maximize profitability. Usually, traditional companies are bound by location, and they also have limited options to promote their offerings. Simultaneously, the case is not the same for companies that have adopted the digital commerce approach.
It would help if you worked on many things when you want to expand your conventional business, from choosing a location to arranging money- you have to go through lots of things. Besides, you can easily grow your business without investing much effort and capital in digital commerce.
Over the last couple of years, the online food ordering business is growing; thus, demand for SaaS-based online ordering system for restaurants is increasing because it is relatively simple and easy for business owners to automate several transitions with minimal effort.
Help Offer a Glitch-free Customer Experience
Today, tech-savvy customers seek instant customer service, and digital commerce enables organizations to provide round-the-clock customer service with smart tools such as chatbots, email, in-app chat support, and many more. There are a few reasons why digital commerce helps brands by delivering better customer service are:
- Customers can purchase any corner of the world.
- They don’t have to deal with a salesperson.
- Returns and exchanges are made easy.
- There is the ease of browsing and ordering products.
- Round the clock chatbot assistant available to resolve any customer queries
By addressing customer pain points quickly, any enterprise can win customer’s trust within a short time. Glitch-free customer support and effective communication lead to enhanced customer satisfaction.
Easy Collection of Customer Data
No doubt, the Internet has made it easy for business owners to promote their products and services globally, but you can not make most of it without having customer data. When it comes to digital commerce, storing and collecting customer data become easy. Based on the customer’s preferences and buying behavior, you can easily track their interactions and buying frequency.
Digital commerce lets you collect data by tracking customer behavior. Based on that, you can craft a marketing plan and run advertising campaigns. Moreover, you can take the necessary actions to improve your customer experience.
Here you can consider the example of Amazon that recommends products to customers based on their previous purchase.
Fast Go-to-Market Time
The business world is becoming more saturated because of technological upgrades, and customers’ preferences keep changing with time. Unlike traditional retail, digital commerce allows you to hit the market quickly in just a few clicks. Popular eCommerce platforms like Shopify, Squarespace offer readymade and custom templates to create your store.
All you need to spread words about your business on social media, you can quickly online store and start receiving traffic to your online store in no time.
Personalization and Better Targeting
According to Google, more than 90& of leading marketers believe that personalization is the key that boosts sales and customers feel valued. Digital commerce allows business owners to gather, compress, and use customer data more accurately than traditional channels. For instance, based on customer demographics, you can craft a paid advertising strategy. You can later offer a personalized shopping experience to customers.
The recommended items list on Amazon is a better example to understand how digital commerce improvises customer experience. It offers products based on the customer’s buying behavior and browsing history. Moreover, targeting based on location, gender, and preferences also becomes easy for digital commerce.
It would be suitable for businesses to stay relevant in this competitive market. Even if you are running a small business, you can not skip the latest trends; otherwise, you might lose lots of money on the table. From mobile ordering to personalization to customer service- digital commerce plays an important role and promises enterprises to achieve high ROI over the long term.
Deep Moteria – Deep is a serial entrepreneur and blogger who wishes to support the ground transportation industries with his writings. He covers up all the known and unknown facts around the industry and puts them together to create trending articles across different websites. He also includes details on the latest trends, fun facts, business expectations, strategies, and models to follow to succeed in the transportation sector.