What is x-Commerce?
"x-Commerce refers to selling products or services across different channels, including
e-commerce, social media, marketplaces, and brick-and-mortar stores."
By Whom? And not only that: How?
And so on. And so forth.
A Better Definition
* DL = Digital Lifestyle
5 Ways to Prepare for x-Commerce
Take Care of Basics To begin with, ensure that you have a user-friendly UI + UX, centered around a Mobile-First design. Your site should be fast-loading both on Desktop and Mobile to optimise conversions to sale. And – stating the obvious – user confidence should be guaranteed, thanks to secure payments. To strengthen discovery of your products, be sure to comply with all Best Practices related to SEO (Search Engine Optimisation).
Personalise Experiences The Golden Rule of Personalisation is: Know Thy Customer. The more you do, the easier it will be to offer her relevant products and services. So-called "First-Party Data" (her personal data obtained with her permission) is essential, in order to create targeted campaigns using CRM (Customer Relationship Management) platforms such as Selligent, Hubspot, Salesforce, Actito, Marketo and others.
CRM will help you to identify your most profitable customers (the 20% who create 80% of your sales), segment your Marketing according to their interests, geographic location, and DL (Digital Lifesyle). And of course, it's always a great idea to surprise your VIP customers proactively with exclusive offers and attention. AI-driven Commerce Search solutions such as Doofinder, Motive and the more advanced Empathy platform will improve the virtual shopping experience.
Integrate Sales Channels The new reality of online sales is probably one you already are experiencing: Integration of the sales experience. Whilst you might make your purchase on-line, in many cases you might pick up the package at a physical store, locker or drop-off point afterwards. This union of the Physical and Digital is forcing many companies to admit that Traditional Retail is dead.
According to Cristina Elson, Senior Specialist at the BV Innovation Lab, they are converting their sales floors into "stages" on which they are beginning to create "Phygital" presentations, Brand Experiences for customers to keep them engaged and loyal.
X-Commerce: Any Way, Anywhere, Any Time, Any Device, Any Pay
To easily drive consumers to "brick and mortar" stores, many Brands are making increasing use of QR Codes, as well as beacons and geo-fencing to push offers to smartphones as consumers enter a given radius close to their physical stores. In the near future, Generative AI-based chatbots might help with the directions!
And since x-Commerce sales might be made anywhere at anytime with any device, it is also a very good idea to broaden your payment methods beyond credit card or Cash on Delivery. Including Paypal, Apple Pay + Google Pay, smart watches – even via biometrics – will facilitate sales and smash any anemic conversion KPIs!
Excel in Customer Service As you can see, the on-going Internet Revolution is determined to transform virtually every company and industry on the planet. One department that will not remain untouched is, without a doubt, Customer Service. Active and demanding x-Commerce consumers, many of them Gen Z'ers, simply expect fast answers and very easy ways to contact your company, They take CRM for granted and also expect that any Sales Rep "worth his salt" will have their purchase history and preferences at his fingertips.
Oh, by the way, these twenty-first century customers also expect to be able to call you at any time, day or night. To not only satisfy them, but also delight them, train tech-savvy Customer Service teams. Then, equip them with CRM dashboards and give the team the necessary freedom to make autonomous decisions, without red-tape and bureaucracy:
"Mr. Miller, we're very sorry for that shipment mistake,
so we're sending you a voucher for 50% off your next purchase.
Ms. Martínez, since you are such a valued customer
we've upgraded your reservation."
Anticipate Trends Finally, to prepare for x-Commerce and maybe even lead the way, we encourage you to #FallInLoveWithTheFuture! Keep your eyes open for new Digital Commerce trends (many already a daily reality in Asia) such as Flash Sales events with Virtual KOL Influencers, Social Shopping, Voice Search and Voice Commerce, and Immersive AR / VR Shopping.Domino's Pizza AnyWare Already in 2017, Domino's Pizza won the Mobile Grand Prix at Cannes Lions for its AnyWare campaign. The campaign allowed customers to order pizza using any device or platform, including smart watches, voice assistants, and social media platforms. The campaign resulted in a 28% increase in online sales for Domino's.
Just around the corner: a broadening of cashier-less supermarkets such as Amazon Go (despite the current temporary fine-tuning), as well as the mainstream adoption of Web3, Crypto currencies and Blockchain commerce.
To cite just a couple of examples:
Alibaba's Singles Day Alibaba's annual Singles Day shopping festival is one of the largest digital sales events in the world. In 2020, the event generated a record-breaking $74.1 billion in turnover. The event features a wide range of promotions, discounts, and Live-Stream shopping events to attract customers.
So: what do you think?
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- 11/12 May 2023
- 12/13 July 2023
Barcelona Virtual works actively with Hubspot, Selligent, Salesforce, Actito and Motive.