Posts Tagged Platforms
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
API, Application Programming Interface, Augmented Reality, buzz, Commerce Edge, eCommerce, Engaging Shoppers, Forrester, GPS, Infosys, Mobile Device, Oracle, Platforms, SAP, Shoppers, Social CRM, Social Media, Web 2.0
Web 2.0 saw revolution which went on to change the political scenario, babies named after the giant ‘Facebook’ and to top it, marketers found answer to their long lasting query on ROI. They have changed the way people used to reach their prospects and more over countering business opportunity. Life is been more focused and even smaller, the phrase ‘world is small’ has more meaning to it now than before.
The closer analogy to social networking is of the iPhone ad which states “if you don’t have an iPhone you don’t have the apps….. and if you don’t have a iPhone, well you don’t have a iPhone”, which is (when applied to social networking) if you are not in one of the social networking sites, you are missing on the networking and to top it, today even recruiters have jumped into it, of course now it makes more sense to be in, then losing something.
Social networking today could be categorized into Business, Casual and Micro-blogging. We have seen good number of players moving into the space and making it big, and many of these are the pioneers, who have traced the path and been the part of the revolution, who are the leaders and category by itself. Competition now is becoming intense among the category leaders, and some renowned biggies who have tried and backed off are consistently trying to get in, to still carve a pie for themselves. The advantage with these biggies are, their application stack and power of innovation, which makes them prospective leaders only if, they crack the platform.
The battle lines are drawn and the success would be based on differentiation; which would be user interface, platforms, applications and engagement model. The leader would now have to be constantly on the drawing board and working on the differentiator model, as they would have to keep pace with new applications & concepts being developed using the existing model by the partners, in parallel ensuring the constant revenue streams from the existing model. The challenge now is on retaining the users and withstanding the migrations to newer platforms, which could be mouth watering.
The question which haunts every category leader, in different verticals, to answer on the differentiation, today hangs on to Social Networking Platform, as it is a successful model and others would definitely follow to cash in.The key here would be to stick on to User Engagement and Redefining Evangelism, which would mean drilling down to the levels of analyzing the database and bringing in the right kind of interface and application which could glue the user tightly to the platform, to the extent where the user feels incomplete without it. Like how the customer centricity brought the Social Networking into their business, today the same paradigm needs to be imbibing into their platform.
The essence lies on Social Networking Site being the one stop shop for a user, apart from just networking and being in touch. We have seen the progressions here too in terms of; communities, forums, skills, News, creating groups, pages and so on. This would have to move in a step into associating with user’s individual planning, which he/she would associate to and use it as bench marking himself/herself for his/her development which could be either career, skill sets, evaluating options, consumption patterns, financials and so on.
Application Stack, Biggies, Business Model, Competition, Consumer Behavior, Differentiations, Engagement Model, Evaluation, Evangelism, Facebook, Migration, Paradigm, Platforms, Redifining, Skill sets, Social Networking, Social Networking Platform, Web2.0, World is Small
Check Out the new PostIndustrialization for Masses & Digitization for PersonalisationJuly 6th, 2014
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Dated: Grey Mind’s
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