In simple words, it is the selling and buying of products and services online. The transaction may take place online or offline and the customer journey may include both digital and physical. Delivering an engaging experience involves the use of omnichannel marketing, digital commerce software, personalised content, and analytics.
Digital Commerce Overview
Digital commerce primarily involves two people – seller and buyer. For a seller to find a buyer online, the first requirement is the selection of software. Followed by implementation of marketing practices that involve omnichannel marketing techniques and the use of analytics to turn data into useful information. The final step involves omnichannel customer service.
A software is an essential part of capability within the omnichannel commerce. A business owner has two options – select a digital commerce platform from a vendor or design and develop the software from scratch. Many businesses prefer a platform to save time and effort.
Platform Developed by a Vendor
Many digital commerce industry leaders such as IBM, Oracle, Magento, Salesforce, SAP, Digital River, and more, that provide a platform. There are professional services and software companies such as Accenture and Apttus, respectively, that offer solutions. The two main elements of a digital commerce platform are:
Native Functionalities – Platforms come with built-in features. These features help you perform different functions such as execute a new email marketing campaign, provide analytical insights, and more.
Third-party Integrations – There might be a case when the need to modify the platform arises to suit business goals. However, one must be cautious as the cost increases with the integration of third-party applications.
Custom Software Development
Business goals and desired customer experience often change as more advanced technologies are developed. The use of such technologies is essential to design and deliver the next new experiences possible within the omnichannel commerce. Hence, the need for custom development arises.
Marketing and Customer Service
Personalization is the key element to design an omnichannel marketing strategy for digital commerce. By leveraging complex algorithms and artificial intelligence (AI) concepts, different native functionalities and third-party integrations within a platform can help businesses design personalized experiences for consumers. The essence of an omnichannel strategy is to deliver a consistent and targeted message across different channels and stages of the marketing and sales funnel for improved conversions.
The omnichannel marketing is deeply connected with customer service. Omnichannel customer service creates an impactful outcome and bridges the gap between digital and physical. It increases cross-selling and up-selling opportunities by leveraging tools and techniques to understand the context at a deeper level.