6 Groundbreaking Technology Changes In Ecommerce
The impact that tech-savvy customers are having on the ecommerce world is not just stronger than ever. It’s faster than ever. Gone are the days when customers would meander online. Trying to determine if an online order was worth the risk. Instead, technology today is helping customers keep track of their purchases. And altering the ways in which those consumers interact with online retailers. These trends, in turn, are affecting the big picture.
As technology changes business-to-consumer transactions. New opportunities for both sides of the sphere are emerging. Consumers now have access to a range of tools that help them gauge prices. Find alternatives, locate stores and receive coupons. Retailers are seeing benefits as well. As technology helps them make stronger connections with consumers and build their brands faster. Altogether, technology is revolutionizing how business-to-consumer transactions occur. Marketing is volatile. And the concept keeps evolving with time. With the advent of Internet and enhanced mobility. The picture is changing rapidly.
Nowadays, quality marketing is not seen far from the reach of small businesses. but countless innovative startups are testing the new technology. and transforming the landscape, for good. These emerging technologies could change ecommerce in just the next few years. Giving shoppers new access to products. And the ability to customize some items for their particular needs. Each technology’s impact could touch, a different part of the ecommerce business model.
Development of apps for business has expanded opportunities in business monetization. Through digital payment technologies. Today, businesses are using applications such as online programs and mobile apps to make and receive payments. These monetization innovations have fueled the growth of online shopping. Since the invention of online buying. Many people have embraced business monetization. Because of the efficiency it offers compared to shopping in physical stores.
Digital payment apps offer quick payment solutions to users. Including facilitating handling of business transactions on tablets or phone, swiping credit cards, and use of points of sale. They enable businesses to receive payments fast. Saving buyers and sellers time. Which is otherwise spent on bulky registrations or customized systems. Yesteryear’s email notifications are swiftly being crowded out by marketers in favor of smartphone push notifications. These features and their apps allow marketing teams to command consumer attention as never before.
Promotions that once got filtered out by spam detectors. Or were scrolled over by consumers. Can now grab a user’s attention right at his or her home screen. Retailers are harnessing these updates to keep customers updated and informed about new sales and promotions. Here are the 6 groundbreaking technology changes and trends which have changed ecommerce over the years and are still having huge impact:
Mobile Apps And Computing
It may seem odd to describe mobile computing as an emerging technology. Given the number of tablets and smartphones in use. Because a study by Custora points out, perhaps 37 percent of ecommerce site traffic now comes from mobile devices. Nonetheless, mobile still has the potential to grow significantly in at least two ways: form factor and functionality. Apps are now affording retailers an opportunity to connect with consumers. That goes beyond the boundaries of a brick-and-mortar business. Brands no longer have to wait for consumers to walk into their shop. Or spot an ad that prompts them to engage with the business. Now, businesses can reach consumers everywhere.
Even when customers aren’t shopping. Retailers can still be on their minds. The constant presence of a brand’s app on a customer’s phone. Reminds him or her that that brand is out there, as an option. What’s more, location-enabled interactions, which deliver messages to customers who enter shops. Are getting customers offline back into actual stores. At the moment, most mobile devices are rectangular bricks of various sizes. These candy-bar shared interfaces give shoppers access to just about anything on the web. And millions of applications.
But smartphones and tablets will have to make room for other shapes of mobile devices. Including products like Google Glass, Pebble Smartwatches. Or even automobile-based mobile computing. For example, a person could be walking along a busy street. He sees a fashionably dressed person. Touches the Google Glass, and instantly have the ability to buy the outfit. That person was wearing from a favorite ecommerce retailer. If that doesn’t represent a change to ecommerce, then what would?
QR codes are like the bar codes which appear on the back of a product for quick reading and instant record building. While the archaic codes contained a single line of text. QR codes can contain much more information. For marketing, QR code can be thought of as a paper based hyperlink. That connects the physical tangible world to the online domain. The printed code needs to be scanned with a scanner application. Which translates it into actionable information such as text message, images and webpages. You can generate QR codes with online tools like QR code generator from spaces.
The code can be integrated with any type of media like print advertising, Business cards, brochures and flyers, online advertisement etc. The scan can trigger a range of actions. Direct user to the landing page of advertiser. Send an Email, text message, dial a telephone number. Download contact details. View Google map locations. As technology advances, many people spend more time on computers. Businesses have realized this. And they are finding innovative ways to make their goods and services available online to access to a wider market.
Tech firms are tapping into this opportunity. They are developing business gadgets. That allow businesses and customers to interact anywhere without necessarily having to use computers from a central place. Today, portable business gadgets such as mobile phones, laptops, and tablets have gained traction. This aspect alone has moved business interactions to a whole new level. In addition, businesses are increasingly embracing cloud computing to give employees access to business information from any location through business gadgets.
Bitcoin was the first cryptocurrency, and it is almost certainly the best known. While many online retailers are concerned that the electronic money may be too volatile. Those stores that do accept it find it to be “a viable, preferable alternative to credit cards. That don’t carry the same risk of fraud and have lower transaction fees. Adding Bitcoin to an ecommerce site is very easy. And retailers that are nervous about Bitcoin’s rapidly changing value. Can instantly exchange Bitcoin for other currencies, like dollars.
Perhaps this is the least-known benefit of using Bitcoin. That there is almost no fraud from the merchant’s perspective or chargebacks. Making it safer for ecommerce merchants to sell internationally. Even to nations with relatively high rates of credit card fraud. Organizing tools such as Google Calendar. Make the processes of researching, analyzing, sharing tasks and planning scalability easier. In addition, customer relation management systems enable businesses to collect real-time data from customers. This allows them to understand customer behavior.
Video games have been entertaining us for nearly 30 years. Computer graphics have become much more sophisticated since then. And game graphics are pushing the barriers of photorealism. Now, researchers and engineers are pulling graphics out of your television screen or computer display. And integrating them into real-world environments. This new technology, called augmented reality, blurs the line between what’s real and what’s computer-generated. By enhancing what we see, hear, feel and smell. On the spectrum between virtual reality, which creates immersive, computer-generated environments, and the real world.
Augmented reality is closer to the real world. Augmented reality adds graphics, sounds, haptic feedback and smell to the natural world as it exists. Both video games and cell phones are driving the development of augmented reality. Everyone can now benefit from the ability to place computer-generated graphics in their field of vision. Augmented reality is changing the way we view the world. Or at least the way its users see the world.
These enhancements will be refreshed continually to reflect the movements of your head. Similar devices and applications already exist, particularly on smartphones like the iPhone. In this article, we’ll take a look at where augmented reality is now and where it may be headed soon.
Personalized Customer Experience
56% of customers are more likely to buy with a personalized experience. This kind of customer-centric experience is created when relevant data about the user behavior is utilized. Such data is available in huge numbers from analytics software, email service providers and Ecommerce platforms. The proper usage of this Big Data is much more important than its size. And this is where data science comes into picture. Data science is an interdisciplinary field. About processes and systems to extract insights from data. Structured or unstructured. With the skillful maneuver of this bulk data.
Marketers amend their communications. Based on customer’s gender, device, location, purchase history or even the past browsing behavior. Personalization takes place in subtle ways. Name being displayed in the communication. Suggestions for products which complement your past purchase. For instance, matching footwear for a previous purchase of similar dress. Content flowing freely across different screen resolutions with Responsive Design. While it generates better ROI, and with tools such as Google Analytics and Adobe Target, personalization is fairly easy, but it is highly recommended to employ an expert which can give way to Hyper-personalization.
Analytics is not only used for driving personalization in campaigns. But a complete suite for future marketing efforts. Marketing automation refers to an approach. In which redundant task such as sending emails, social media updates, messages newsletters etc are mechanized. Without the need of human intervention. Marketing automation softwares have various benefits. Scheduling advertising communications according to individual consumers. Working as a system of record. Where data can be managed and consumer profiles can be maintained. For sending out the right information at the right time.
Utilizing real time data and “trigger events” for shooting marketing campaigns. For instance, the user searches for electric cars, and you send a brochure for the same product. Doubling up as an analytics software and gathering user behavior data. This data is used to know what is working and what is not in terms of response to communications. A good software which aligns with sales. Marketers can predict the ROI for programs and foresee the funnels which can create pipelines.
The emerging technologies are rapidly changing the customer experience. Marketers are gradually realizing its impact and implementing it in their campaigns. While the Initial costs might seem big, but testing a raw science is well worth the investment and direct businesses to a better ROI. Business apps allow users to get real-time information and conduct market research.
This is made possible by analyzing public opinions. And feedback available on industry forums and social media. Conducting online customer surveys, and video conferences. Tech tools such as Google Analytics offer support to businesses when it comes to making business decisions. Technology also empowers businesses to solve complex problems. Improved hardware specifications such as sharp visual displays. Faster processors and higher memory along with smart applications.