Changing Faces Of eCommerce: Technology & Business Models

eCommerce or eRetailing, is just getting more and more exciting with the advent of new technology which are smarter, lighter and advanced, to convert every experience closer to reality. Every platform today can boast one new feature, a new innovation and optimized technique to entice their shopper. The trick is to bridge the gap arising from the real life shopping, reduce the rejection on delivery and increase process efficiency.  While I was writing on Augmented reality & Social Commerce, in one of my posts, I considered them as a boon to the eCommerce, but as I started researching for new technology which could overcome the biggest challenge in the fashion category, in the eCommerce model, where the rejects after delivery is as high as 30%, purely because of the nature of the buying behavior & size match, I came across a cool technology and methodology, which is as hilarious as:

Technology : Webcam Measurements for Buying Clothes Online

Like any other Success story, the technology UPcload, also started through addressing the pain area after self actualization & returning the delivery of the online shopped cloth, by the founders, purely because of the mismatch of size. They found an opportunity and brought a solution through two years of effort, which is now spreading as a wildfire, with it’s originality & fabulous methodology of scanning the body online through a webcam & holding a CD. UPcload uses your webcam, and here is the clever part—a CD or DVD—and a whole load of image processing, to work out your exact measurements. You stand in front of your webcam, in reasonably tight-fitting clothes, holding the CD in front of your navel. The system takes your picture and then runs it through object recognition processing. Since the system knows how big a CD is, it can work out your relative body dimensions. This technology is here to bring the much required revolution while shopping for your fashion line merchandise.

The discussion with Asaf Moses, Founder of UPcload, was totally a visionary one, he is set to change the online shopping experience and has been very optimistic with the soft launch in Germany & set to open shops in US now. UPcload has started seeing it’s adaptability from various leading platform and he quotes “It means we can suggest clothing ideas to people that they may never have thought of before. The program is using your body shape to suggest genuinely new ideas to people rather than simply suggesting on the basis of your historic buying pattern. It is like having your best friend with you.”

Such, inventions, innovation & explorations would only, make the online shopping experience more exciting & realistic. This would strategically be very beneficial for fashionable clothing line, especially when it comes to experimentation of new trends, fads in the fashion line. With this technology we would see more and more people experimenting. Also, such technology would make certain lines more accessible & open to the broader market base, using body shape, it  would enable to see yourself with new trends & even more, going forward you could ask your friends  through social networking sites. This business model would work more or less in the similar way to PayPal for financial transaction; a user could actually create his or her profile through their site and save it online, and use measurement while shopping online.

Takes for eCommerce Industry

  • Measurement technology would change the online buying experience of the shopper and reduce the rejects 
  • Increase experimentation leading to move on perception on trends to trial, with the blend of social commerce, would only increase the market base by cross-Category  adaptation in the fashion apparel category.

Business Model: Orderwithme.com ‘s Changing sourcing Model

Success stories are always born from the opportunity of gaps, and so is another example, which was the winner of TechCrunch DISRUPT in Bejing, Orderwithme.com.

During the founder Jonathan’s  education days in China, he was fascinated with the cost arbitrage to US, he went on to set up a shop in United States, sourcing Bags & other accessories from china, soon he found himself sailing on the ugly side of the sail, not because of the cost, but the quantity. The question here is, do you have so many customers to exhaust your procurement, which soon would be a dead investment in terms of inventory. He found an opportunity, in the entire sail where he was not alone & there were many small retailers, which his new platform could cater too, in sourcing through group buying. This model is now the version 2.0 when compared with alibaba.com, which too is sourcing model from china.

Orderwithme.com, found opportunity in sourcing for all the small retailers in United States through group buying, hand picking goods for their customers, walk through the journey of procurement & selection, quality evaluation & many more attributes, making the sourcing site the most effective platform for it’s small customer & adding the flavor of personalization. The value in the model is creating a platform where various small retailers could queue the order for the bulk pick up from china, as like the founder, not everybody would be able to relinquish the quantity procured, even though you have the cost advantage.

The Learning from the model is their personalized touch which makes every customer of their feel of being in China and procuring goods, through Video, high definition pictures on the journey of purchasing and Account manager who liaison with their customers, understanding the requirement & taking care of the order.

You Could reach me on adarsh.pete@gmail.com or connect me linkedin

Takes for eCommerce Industry

  • Enhancing the online shopping experience with more digital aids like the high definition videos & pictures, which could bridge the decision making process of the real life
Advertisements

, , , , , , , , , , , , , , , , , , ,

7 Comments

6 Point Strategy To Pin Your Customer To Your eCommerce Model In Emerging Economies

ECommerce, as such, is not a new concept, but it is considered as a new model when it enters the emerging economies, where infrastructure and technology is trying to keep pace with the people’s perception. Moreover, they would have seen the organized retail flaring new heights, people adapting to new culture, where they are exposed to brands on shelves, feeling it, investigating it & top it, freedom of choice. Given the behavioral adaptions & the technology advances, eCommerce is seeing a new wave with Social Media & mobile technology vis-à-vis web 1.0.

Not biased on the brand though, but it’s amazing to see flipkart’s approach to the dig in the 10,000 cr market segment in the book industry, commanding  to sell a book every minute and gaining the foothold in eCommerce industry. The founder, while being interviewed in Young Turks, based his entry strategy to gain the consumer confidence, as books don’t cost much (helping the shopper to gain confidence) and secondly books don’t break or get damaged while in transit. Interesting to note here is, in spite of them being start-up couple of years back, they have gained a commendable market share and huge traction even in their newly introduces categories of with respect to white & brown goods. Yet another point to note is that they have good volumes churning from tier 2 cities and more so their advertising campaign have been very appealing as they are more on to the typical pain area, with respect to  why people hesitate to opt for eCommerce.

Wooing shoppers is the toughest task with any player today in the internet space, Thanks to the digital advancements in terms of technology, operating systems, mobile technology & enterprise applications, eCommerce has seen a sea change. Players like DataLink , who are the prominent players in the space, help budding & existing eCommerce Companies, in developing, supporting, maintaining flawless architecture which are constantly been innovated & updated with the  new ways like the social & mobile commerce which could help your platform to be on top of the mind of the shoppers. Such agencies play a crucial role in bridging the gap & help focusing the player on to the business.

As the social wave & mobile technology (in terms of smart devices) picks up heat and the numbers trending towards eCommerce being a prime channel strategy for any brands to reach their consumers.  6 point strategy to pin your customer to eCommerce model would be an approach towards finding ways & means to attract & have them with your model.

1. Play on Perception – Flipkart is a good example which has played a pioneering role in addressing and educating people, around their value proposition. The ad campaigns which were more on towards replacement guarantee, EMI options, pay on delivery and so on, caught bang on with Shoppers. The beauty of the entire campaign was, no where they touched on type of deals & offers. Such a thought process always creates the right kind of buzz and sets a platform in the emerging economies, which has a large addressable and consumption base.

2. Partner Brands as a channel in their sales Strategy – This point strategy builds the notional value among the user, when the consumer finds their choice of product tagged to the platform, it plays the much required promotions. A real life example, I was checking for the Samsung Tab in their website and curiously went on to see the online retailer in India, was Flipkart. This example is again not to talk on the Flipkart, but to articulate the value of being one of the prime channels in the sales strategy. Please note such a presence not only builds the loyalty but also helps to extend the brand loyalty of the product to the platform. In case of India, where eCommerce is seeing huge traction, such a move plays a lot on notional values.

3. Explore Mobile Apps for mobile devices – Mobile devices are proving to be one of the most intrinsic part of the consumer life, impacting their behavior, lifestyle and even more the decision-making process is not the same any more. We have already seen in one of the theories of Google and one of my previous blog on Zero Moment Of Truth . With the advent to tablets, every company is mooted towards developing applications which are lighter, quicker and smarter; it would be a big crime in this smart world, if the applications are not optimized to the mobile devices. Application plays a huge role in engagement too and also building the brand presence, and more so, smarter application reinstate the brand  prominence in the mind of the prospects in influencing the decision-making, through various engagements. An example to mobile app, evaluating  products, brand tracking through feeds and so on.

4. Adopt Social Commerce – Adopting social commerce principles could help the platform to boast their footfalls, also create the experience closer to reality and in the company friends, developing reviews, sharing, asking friends for recommendation and the list goes on. If not the social commerce platform at least the features, this ads to the engagement which is the core to pin your prospects. As in the case of the retail format, every outlet tries to engage his or her own customer to increase the footfall and enhance their shopping experience. Digital media could boast with the type of technology coming in, for example the augmented reality app connected to the social media can play wonders in promotion.

   Courtesy Rackspace, building43

5. Building a community of Happy Faces “The Brand Face”  & program around –  It is very important today that eCommerce needs to create a connect with its customer, and what better way it could be having your happy customer on to your ‘Wall of Fame’. The time has come now to build a community around the happy faces, not to have the freebies, but to facilitate value ads to its frequent & loyal customers to its credit. This point strategy purely works on the consumer buying behavior and their spending pattern on the social media circle, for example in the case of category dealing with books, how fascinating it would be for a customer to have a personally autographed books or meet his favorite authors or thinking a loud a chat or live video from the author in form of streams.

6. Practice Zero Moment of Truth – When we look at the buying behavior of a shopper after having a desire to buy a product, he has different ways today to gather more information, either he gets on to his mobile device like Laptop, iPad, smart phone or get on to stand alone PC, hit the search button, the best in today’s world what people say is ‘Google’. Your favorite search engine is able to throw loads of information from the product details, availability, location, feedback to reviews; they are so intrinsic that no brand can actually neglect any of these details, if they want to win their shoppers’ heart. So in the case e-commerce, not only the site would have to be optimized to the search engine but it would have to be calibrated for various devices from the smart phones to other smart devices, making it friendly for the shopper to view the information. The last thing you would want is the opportunity loss for unfriendliness in viewing the product.

More or less, when you evaluate the different players, these point strategies are prevalent, what is missing today is being customer centric and building engagement around them. It is not hard to have a sale today, but what would make a difference is building a community around the happy customer & tools to engage, it is just not enough to have a fan page to communicate people on the deal, but what would work is allowing the brand to speak, listen & engage with their customer.

You could reach me on adarsh.pete@gmail.com or connect me LinkedIn

, , , , , , , , , , , , , , , , ,

4 Comments

Best Practices of one, can’t be true for all: Balancing Regionalization with Globalization is the key

From the world of technology to theories of Marketing, everything revolves around the Best Practices and Principles; we the professionals, iterate, refer and suggest to the ecosystem, where we belong, quite often. We love to throw the jargon, drop names when it comes to weighing our decision on others. Do we ever try to think on the ‘Recipe To Success’ being the same everywhere, where the consumer behavior, buying patterns, rules & regulations, paradigms defer and in some case we see it changing even within the boundaries.

Usually, in the case of technology (either in the form of consumer technologies or enterprise level) conceptualized in the developed countries, flow into the developing countries as one form or the other, Best Practices, no doubt India & China are the growth engines for these companies, but are they doing enough to penetrate deeper, to achieve broader marketer, where the actual buck lays. No doubt, first mover customers evolving out of the growth engine and spreading their wings through the developed nation, adopt with the best practices sooner, thanks to their operational demand & deeper pockets, but what about the segment which is untapped and are so called gold mines,  where the affordability is not a question but adaptation & reach rules over.

Lets’ play around with some examples, Apple, no doubt Indian market waited for long for their products, it took the company some time to open their shops, to have their innovative products up for grabs. In spite of non-availability, consumers in India used all their way out to own & experience the Apple mobile handsets, either through reaching out to their friends in US or Singapore or wriggled through eBay or Amazon to have it. The question at this point, which comes in mind, Shouldn’t the company have kept the growth engines in their priority list, for consumption. The adverse reaction to it led to duped Apple stores in China, black marketing & in some cases, usage of patches to unlock the locked version. The essence is very strong, availability to fight piracy & creating accessibility for the brand to increase the much required presence.

Honda, the renowned car brand playing in the band of premium segment took around 15 years to crack the strategy in terms of price, variant & go-to market in terms of ‘Brio’ and bringing the price of ‘City’ to make it accessible, after the competition had stepped in with a variant tagged made for India with made in India, in terms of Toyota ‘Etios’ and planned it for other emerging countries for exploring the markets with similar behavior.

We are now seeing a trend where in companies not only bringing in technology, but a technology which is closer to its customers but made available locally to play in the price variant, companies like ABB into the power generation infrastructure is in line & planning to set up their manufacturing. Volvo, which is into the commercial vehicle segment redesigned its commercial vehicles to suit the country requirement, giving them an edge and much required market share against the competition. The take away is being closer to customer not only in terms of cost to customer but also in terms of product configuration, manifestation & adaptability.

No doubt, the way economies are shifting from the growth centers which were economies of  scale, manpower & talent once, to the consumption buckets in the value chain. In other words, where India & China were once known as the center for lower cost & talent pool, which helped many of the development companies in IT sector to move in, are the epicenter of growth engine for consumption of the same developed product. So it is very important today, to have consumable products close to their tastes and preferences, which were produced for the developed economies, to capitalize and accomplish the value chain or use the same talent pool which developed, maintained & released for other countries, for building the value proposition for these regions.

Google which never loses a chance, and tops the chart for drawing a parallel in regionalization, have been able to crack the country wise products, through their strategy of reach, if they can’t open a shop, they implants their personnel to tap, very recently, I have seen lot of their openings in the very remote urban places too, to achieve the objective in being close to their user and tap the untapped.

As spoken & manifested in the form of ‘Triangle’ in explaining the markets, companies have now exhausted the top most part and are in the phase of Mid size laying in the middle, where ‘The Best Practices’ still holds good to a extent but the bottom most portion of triangle, where the broader marketer exist, is where   “Adaptation & Adoption, customer centric strategy using ‘The Adopted Practices’  becomes the value proposition and are the key for the Gold Mines of the untapped segment.”

4 Comments

An Era of Symbiotic Relationship: Social Media & Entertainment Broadcasting

If Facebook would have to be a country, they would have been the third largest country in the world after the heavy weights like china and India. It has users which are 2 times of US population and enjoying the market share of 76%. Applauding to the success of Facebook, in specific, verticals like games, commerce, brands, fund-raising have been latching on to enjoy the fanfare  & engaging with customers. On other hand the platform also enjoys the chunk of active users resulting of the later, thus web 2.0 serves the perfect example of symbiotic relationship.

This insights only goes to show, how the social media has penetrated into the life of an individual, being synonymous to the social identity, waving across the truths introduces by Procter & Gamble, Google’s of the world, making the world smaller and bringing in the  channel of communication in terms of updates, streams, tweets, share, likes, +1 and so on. Every new release, launch or upgrade on the platform is just another beginning to lure brands to optimize them to the fullest and bring in the ideas which are out of the box that goes to electrifying its fans and challenging the marketing professional only to explore the extreme. Check how advertising strategy has changed in Facebook alone; The History of Advertising on Facebook

Electrifying of experience of subscribers, followers, likes or +1, through various widgets and applications which enable social media platform to interact directly with the audience, on mobile devices of the individual, which today are supported with infrastructures which are getting upgraded to the 3G networks in many part of developing countries, making the most viable & lucrative option for the entertainment industry to use it to build their community along with the fanfare around it. This medium could be grown as one of the channel in terms of Social Broadcasting Media, given the usage of internet today and penetration it is achieving.

The one minute Snapshot, from Infographics, in the above graphics is just a feeler to showcase, the competition which internet and user-generated content, is now giving to the entertainment industry. We have already seen the way smart technology is laying it’s footprints on what was once called the ‘Idiot Box’, now the Smart Television, with internet connectivity and loads of applications on to the market place. Check how television has changed over 10 years

Very soon, we would have Social Broadcasting Media, where people would be able to select the feed they want to view, follow the character, share emotions live, bring in more viewer, dedicate scenes and the list goes endless, which now happens more on archives. Check the following statistics on Infographics: The State of Internet , there are 35 hrs of video uploaded to YouTube every minute, 30 billion of content have been shared on the Facebook, number of videos watched per month comes to 136 per user and with Smart TV’s  this relationship even grows stronger.

Social Networking Platform, not only provides ready base but also creates access to the netizens, growing the market share and tapping a newer segment, thus giving run for the advertisers money and also a model which could allow to promote and share the word of mouth. In past few months, I have seen radio’s tapping Social Media to engage their audience on a real-time basis and build a bigger fanfare, but Fever Fm on Facebook has gone beyond just maintaining a page, to developing an application where in, you could dedicate the songs from the list, share and listen, which I feel is just a start of how the symbiotic relationship would envisage.

Social Media Revolutionizes The TV Industry

1 Comment

Social Commerce & Augmented Reality, Boon to eCommerce

Forrester’s article very recently published, Social Media Still Very Nascent – Adoption And Adaptation Challenges For Organizations, is so true. When I look at e-commerce today from the perspective of Social Media, the opportunity  is infinite and not just restricted to a page as the only engagement mode for update, offers & review. In this era of Social Media or Web 2.0, out-of-the-box thinking has no limits, with the option what Google +, Facebook or Twitter could throw with their new Application Programming Interface and the new features which they introduce, make it only more favorable for the marketer to explore, expedite & experience.

The well-known fact on engaging with consumers is co-exist where they are, imbibe in their activity & feeds, associate with their community and groups. Today, there are many leading ERP companies which build their platforms in the CRM area using the essence of social media, popularly known as Social CRM, these can track customers on social media or in simpler terms they are very synonymous to Social Media Monitoring. However, this is too narrow an interpretation, as Social CRM also includes customer communities managed by the organization themselves.

While I was looking for Social Media Platforms used in e-commerce, I came across a technology ‘commerce edge’ of Infosys, which is a Social Commerce Platform, on SaaS model and delivers, what could be the differentiation among the competition. This could be just a start in exploring social media from creation of buzz to inducing buy through new ways of group gifting, co-shopping, Interacting with your friend to review product and so on. Basically, drifting the shopping experience more towards the real world. Countries where the myths overrule the benefits of e-commerce, these technologies come as a boon in changing the perception, and also acting as a double-edged sword with the benefit loaded messaging in campaigns as the value proposition. The other way to think about this would be enhancing the opportunity base by creating new access for new set of shoppers.

The other technology, which dives deep in making the e-commerce closer to the real world is Augmented Reality. Augmented reality (AR) is a term for a live direct or an indirect view of a physical, real-world environment whose elements are augmented by computer-generated sensory input such as sound, video, graphics or GPS data. It is related to a more general concept called mediated reality, in which a view of reality is modified (possibly even diminished rather than augmented) by a computer. As a result, the technology functions by enhancing one’s current perception of reality. By contrast, virtual reality replaces the real world with a simulated one.(Source –  Augmented Reality on Freebase, licensed under CC-BY ).

As mobile devices today are going through a phase of invention, innovation & induction, shoppers’ buying behavior is varying through the process of adoption & adaptation. Today the brands are just not restricted to brick & mortar modes of advertisement to reach the consumers, thanks to the mobile devices becoming smarter, sleeker, handy and a personal device,  facilitating insights at the finger tips, making them dependent on their favorite application to  move them through the decision value chain. This is where Augmented Reality, plays it’s trick, enabling shopper to visualize, evaluate & decide on to the options.

With this technology, a shopper could use his/ her mobile device to visualize his product under evaluation on to him/her (in case of Apparel) or on wall (in case of display) or on floor (in case of furniture) and so on. This would not only bring in the conviction but could add an edge over the real world in case of products like consumer durable, furniture, display pieces and so on.

Augmented Reality & Social Media is a big boon to the e-commerce world in bringing in the real world experience.

A Video on Augmented Reality

, , , , , , , , , , , , , , , , ,

5 Comments

Decoding Google’s Zero Moment Of Truth (ZMOT) to eCommerce Sustainability & Continuous Engagement

Let’s slice E-commerce, an online store or retail which enables shoppers to be where they are and by using the power spell WWW.ABCD.COM , they could have products and services of their choice underneath their eyeballs, ready for the consumption, although not immediate but gradual.  On the flip side, the biggest challenge which e-commerce faces today is the perception, in terms of acceptance on feeling the product to virtually seeing and ordering.

Though, the internet penetration have been fairly a primary deterrent for the success of e-commerce across the geographies where they have not gained prominence, but with advent of 3G services, e-commerce is slowly seeing it’s acceptance, but where it still sees it’s roadblock is on the perceptions. Perception is all in the minds, generally through one’s experience or word of mouth. These are those strong impulses, which could drive a shopper for immediate consumption which is a gradual one or not. To top it, shoppers love to feel the product, look at it, have a face to converse & bargain and shoulder on in case of bad experience or clarification. Last but not the least to pick freshest one in the rack, which in case of e-commerce is just the virtual and the thought keeps lingering, ‘hope I have got the freshest piece’.  Perception generally relies on the positioning strategy or the business model of the e-commerce led marketer.

What goes beyond perception is sustainability, how to have the shoppers think about us in their buying decision process is a challenge and being where consumers are interacting & engaged is innovativeness. Usually, when marketers are working on these thoughts, the first approach is to be in there on the informative sites, social media, branded merchandise and prime sponsorships to grab as many eyeball as possible, as the low hanging fruits in their checklist, this gives them the much-needed spikes but could this be sustained for a long run in front of the giants, who have been in the industry for ages & have built-in fats which could sustain by shedding in terms of big bang activity. The answer would be “no”.

The answer lies in theory of Moment of Truths, what once Proctor & Gamble defined First Moment of truth, as one of the science of shopping, which concentrated on the display of products in the store, then came Second Moment of Truth which was on the consumption of the product. These two truths are more or less very well followed by the marketers across the brands in positioning and displaying. What is now coming in might with the adaptation of new mobile devices, which are changing the consumer line of thought, buying behavior and a trend which is far emerging in terms of product knowledge among the shopper even before he decides on the products.

The shoppers today are far well versed with knowledge on what they want to buy, where they want to buy, what is the best deal available while they are in the process of buying a product. Google defines this as Zero Moment of Truth, ZMOT. In the words of Jim Lecinski, Managing director, U.S. Sales & Service,  Google, It’s a new decision-making moment that takes place a hundred million times a day on mobile phones, laptops and wired devices of all kinds. It’s a moment where marketing happens, where information happens, and where consumers make choices that affect the success and failure of nearly every brand in the world. At Google, we call this the Zero Moment Of Truth, or simply ZMOT

The Zero Moment Of Truth, is a paradigm which focuses on the buying decision process, this is when shopper is deciding on the product, in parallel, checking where & how to buy (which is what format to go with), and if you are not here you have lost an opportunity. Lets’ try to dig into the science and understand what ZMOT has in store while buying decision process is happening, both online and offline, for e-commerce, which could work towards getting shoppers.

When we look at the buying behavior of a shopper after having a desire to buy a product, he has different ways today to gather more information, either he gets on to his mobile device like Laptop, iPad, smart phone or get on to stand alone PC, hit the search button, the best in today’s world what people say is ‘Google’. Your favorite search engine is able to throw loads of information from the product details, availability, location, feedback to reviews; they are so intrinsic that no brand can actually neglect any of these details, if they want to win their shoppers’ heart. So in the case e-commerce, not only the site would have to be optimized to the search engine but it would have to be calibrated for various devices from the smart phones to other smart devices, making it friendly for the shopper to view the information. The last thing you would want is the opportunity loss for unfriendliness in viewing the product.

Being in the minds of the shoppers, would mean 6th sense of your product prospect, what I mean is understanding the key word definition used or related phrase from the ad copy to the attributes of the product, being reflected in your site so as to bring you there when the prospect, enters queries in your ‘Google’ world. There are shoppers who would have the desire to buy, but wouldn’t be remembering the product, they would either vaguely remember the attributes or message from ads and would have entered the query, if you would have reflected in top 5, that is an opportunity win.

ZMOT for e-commerce, just doesn’t mean the ad words, it could also mean understanding your footprint’s queries either in terms of review, feedbacks, comparison, product details, Q&A, ratings & so on, which could act as a differentiation and comes out while the query have been run on Google, by the prospects. What you have done using ZMOT analysis is you have not only made your e-commerce site more shopper friendly but also search engine too, apart from the SEO tools.

The other way to look at ZMOT strategy, is to understand the Socio-economic environment of the products you are selling, to capitalize on queries regarding the event which wouldn’t have been related directly to your product on the site, but subtly conveys the message what you are trying to sell. Let me give you an example, the people leaving in India are seeing a big movement on Jan Lokpal Bill, an anti corruption movement, by the Social Activist Anna Hazare, during the movement there were lot of silent protest which were happening with people printing posters, messages on T-shirts & caps and so on, if any agency wanted to capitalize on them, they could have had customized the offerings as per the movement to be in the search results which would have had the query on the movement.

 Zero Moment Of Truth is just not online, this principle could be used on Offline too, and being where your shoppers are is the secret for sustainability of unique & continuous engagement with your users. Using the online strength, an e-commerce Marketer could either device a mobile application on any of the widely used platform, enabling the smart device user to evaluate his product of the choice through it.  The other way of being in smarter devices would be through the service provider; this would enhance the opportunity prospects for the marketer. These work as a double-edged sword, on one hand the application icon sits on to the shoppers smart device home page, increasing your chances for continuous engagement, as he could evaluate deals, which could look lucrative for him while he is on the store or on information gathering phase and on other hand the recall is made significantly.

This application need not be just restricted to mobile devices but could be made an add-on to the social networking platforms, enabling the users to view their queries, share, engage with their network and compare brands, making it even more lucrative. The application strategy would be incomplete, without social networking, looking at the prominence which it has in our daily lives; these systems would also encourage fans on their pages. These moves help to play on perception and move the users slowly to the e-commerce platform and increase confidence on it

To Know more on Zero Moment Of Truth, click http://www.zeromomentoftruth.com/

You could reach me on adarsh.pete@gmail.com or connect me on Linkedin

, , , , , , , , , , , , , , , , , , , , ,

7 Comments

Viral Demand Gen Engine

Couple of years of back nobody could have even thought how Web 2.0 would sweep through everyone’s life, to become the Numero-Uno. There are appealing statistics which comprehend the fact of visit an individual would make during a day, which reinstate the position.

The rate at which this methodology has precipitated into the ecosystem is quite commendable and what we are seeing is just the tip of the iceberg, where the way players are exploring, beneficiaries experimenting and end users relishing the engagement are just the right things at the right place. When we look at the players today they use Create, innovate and embed as their drivers for exploration.

Networking is never been so intrinsic, where engagement being more extrinsic it leads to roots which go on to develop applications, widgets, feedback mechanism, share, likes, streams, +1 and status updates. Social Media today has become the face for their respective brands, more importantly the interactive one, which no doubt comforts the consumer and also benefits by providing the right kind of feedbacks, inputs and updates leading towards service / product optimization & in some cases a new product idea. As we all know Dell has been heavily working on the social media tactic  to use thousand and odd status update to shortlist few best ideas, which finally go to make some of the successful Dell products.

Never the less, Web 2.0 is been a true revolutionary for marketers and the best to happen for any Brand, in terms of adding a face, connecting with prospects and consumer but on other hand it poses challenges on engaging with the fans (prospects & Consumers), extent of insights and last but not the least, the most dreaded of all the issues, handling demanding, unsatisfied consumers who could derail the engagement with negative updates and comments. Among the reputed brands there are some which use the later as a model to resolve problems of the customers and also channel for service & support.

If I would have to think, how Web 2.0 would be in the coming days,  it could be like the hosted services of the leading enterprise products, where every individual has their own page which has all their information on an application which would give insights on their skill up gradation, finances, Career and so on. In fact there are android applications which are getting developed to control house hold appliances through the mobile, which could be synced to it. Thereby making the social networking site the most used and depended site.

Social Media today is an evolving strategy towards engaging customers, virtual product visualization and the most important where every brand would like to use such an optimized, targeted, measurable, seamless methodology to run a viral demand gen engine, which helps them to generate a fully matured lead which has been influenced, informed and  endorsed.

The Viral Demand Gen Engine works on an integrated model of Engagement and Virtual Product Visualization engine, powering the viral through engaging fans (prospects & consumers) either in view of product conceptualization, optimization, improvisation, development or even to the extent of sampling & testing. The model gets more appreciated when these insights are used to reach the targeted audience through blog sphere and for deeper pockets, micro blogging (in the form of mobile apps eg twitter). The strength here is it could be in terms of consumer endorsements, which is powerful than any other media, which is one of the KPI in all the reputed companies. Or the combination of different web application, widgets and blogging to create a good appealing visualization. Exhibit 1 Below demonstrates the Viral demand Gen Engine.

Exhibit 1- Demand Gen Engine

WATCH THIS BLOG FOR MORE TO COME ON ENGAGEMENT ENGINE, FOLLOWED WITH VIRTUAL PRODUCT VISUALIZATION ENGINE AND UPDATES

, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

%d bloggers like this: