Monday, 14 March 2016

Numbers and facts that show the history of digital commerce

Emotional intelligence is the essence of any healthy long-term business strategy focused around engaging customers using their own routine habits. Companies constantly keep a stealthy watch on how customers are interacting with people and virtual businesses so that they can cull the wealth of the data signals produced by consumers. This information is further processed to shape up a most viable strategy that necessarily entails customer needs. So the result is: seamless conversion.

Brands are now beginning to capitalize on the moments when customers are at their most amenable to produce the maximum results. Knowing the target is an old thing, meeting the target customers and investing the efforts in the right direction brings conversion for business.

We have dipped in the era of magnificent integration of various aspects of customer engagement and resultant conversion. Mobile, social media, payment solutions, advanced technology, advertisements have come together to play a dashing contextual marketing tactics. 

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But the story of contextual commerce is not new; you will be surprised to know this. The maiden approach towards contextual commerce was made in 1994. Recall the very first banner ad introduced by HotWired into the world of web commerce! The sole intention of this kind of internet marketing is to generate altogether a unique call-to-actions that enter the mind of customers in the most subtle way possible.

DoubleClick came up with visionary plan and fed the world with Ad servers followed by Ad Words that eased the game for marketing professionals.

Then came an amazing solution for global buyers who refused to leave their comfort zone while making purchase. The 1998 was the year when PayPal was born and it set the new definition of buying products and services online.

Considered to be the extraordinary era of wonderful innovations, 21st century came about and gave us the unstoppable power of digital content. Facebook, Twitter and Youtube enabled us to come together on a common platform to share, discuss and express things that matter without any constraint.

By the time 2007 arrived, Facebook had hit 7 billion ad impressions daily. Businesses and entrepreneurs began to leverage the digital fingerprints as our virtual interactions helped brands understand our profile, tastes, likes and certain things that influenced our decisions and behavior.

But that was just a beginning of a storm. The real excitement was to begin later that year. Apple launched iPhone and the game of mCommerce instigated. By 2012, more than 25 billion apps had been downloaded and it became easy for brands to track the hints and habits surrounding customer behavior.  

By 2013, Smartphones sales peaked. Facebook users increased up to 1 billion and collected maximum revenue from mobile ads.

Gaining tremendous mCommerce success in U.S. and European countries, the concept of digital wallet influenced bigwigs in online business. Amazon and Apple are thinking over it, whereas PayPal went clever and acquired Braintree to ensure the safest mobile payment.

Data was never as important as it is now. The glorious constellation of mobile, social and payment technology produced immense data about customers. This data was no less than a capital wealth for advertisers and data analysts. As 2015 showed, Data-based insight formed an opportunity for businesses to pull in the maximum consumers.

Since the digital market is nothing without sumptuous data metrics, the role of data analysts is in greater demand. Pinterest employs Buyable Pins, which is an indicator of how social, mobile and payments and advertising have combined to create a mCommerce flow.

As our need to socialize is getting intense, content-driven approach is becoming the integral part of analytical and advertisement tools. Looking at this scenario, it is evident that in future planet earth will have record breaking number of mobile users. By 2020, the world of marketing and advertising will be perpetually influenced by digital activities and transactions from consumers and mCommerce will be a predominant element in social advertising.

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