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Commerce Relevancy – The Next Generation of Omnichannel Commerce

How often are you getting emails with “your personal product recommendations”? How personalized and correct are they really? How relevant is your omnichannel information to your customers? Commerce Relevancy is the next wave putting Omnichannel Commerce on another level.

As Information gets more democratic, connecting the dots between master data of customers, supplier, location and products ring the bells for the next commerce wave after omnichannel commerce: It is Commerce Relevancy: In the first phase it is focusing and combining product and customer data to deliver consistency and relevancy in omnichannel retailing. That will have deep inpact in customer experience.

The evolution of the retail environment, driven by advances in technology, has taken us from single channel or siloed channels to omnichannel retailing. Customers expect to find product information and make purchases when it is most convenient to them. As a result, delivering the right product and brand information at every customer touch point has never been more important.

Consistent and accurate product information has a profound impact on the buying decision, but in this hyper-connected world where competitive information is at the customer’s fingertips, retailers and CPG manufacturers also need to ensure that the information provided is highly relevant in order to differentiate and stay ahead.

The market has passed the eras of siloed channels to multichannel commerce (serving all channels, but not allways connected, then connecting the channels, called cross channel commerce. The last wave was establishing the term of omnichannel commerce, due to Wikipedia described as “very similar to the evolution of, (Multi-channel retailing), but is concentrated more on a seamless approach to the consumer experience through all available shopping channels, i.e. mobile internet devices, computers, bricks-and-mortar, television, radio, direct mail, catalog and so on.”

The new generation of Commerce Relevancy requires the right information and data which help turning data into a competitive advantage by helping organizations present product information that is complete, accurate and easy to understand. In today’s retail environment data consistency is key, but it is no longer enough. Every retailer wants to be a success full online retailer and every manufacturer wants to become a retailer with several own direct sales channels.

The next wave taking omnichannel commerce to the next level will address information relevancy at every channel and all customer interactions – called Commerce Relevancy.

 

Commerce Relevancy

In order to enable Commerce Relevancy, companies are now asking themsleves how to connect the dots between supplier, location, customer and product information. In this business use cases customer profiles or target group personas get match with product inforomation in sales and marketing. Think of the same TV flatscreen sold to two completely different personas, but using other parts of the description to tailor it to the customer. Using other channels to promote it. Using other images and vidoes which match with the customer profile. Commerce Relevancy means connecting the dots between all master data and product information.

4 Elements of Commerce Relevancy

Relevance commerce is taking omnichannel commerce to the next level now. Commerce Relevancy is influenced by four main characters:

  1. Relevant product recommendations everywhere: what is the next logical buy? This will not only be leveraged in ecommerce but at any customer touch point.
  2. Relevant locations: the ways of a product from an own warehouse, from a supplier warehouse and brick and mortar become more flexible. Customers are being served always from the location nearby.
  3. Relevant marketing: personalization will reach a new level combining product, location, supplier and first of all customer information the right way and across all channels. Relations of and between data (like customer profiles and product bundles) build the core of customer experience, when delivered in real-time.
  4. Relevant analytics: As customers expect real time information and services new technologies come up to use eye mark recording or image recognition of customer faces when customers returning into a store. Measuring the heart frequency to understand customers’ emotions while shopping opens new possibilities, when connecting the data to unleash information potential.
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2 Responses to Commerce Relevancy – The Next Generation of Omnichannel Commerce

  1. Michele says:

    Hi Ben,
    I enjoyed reading your post. Perhaps few more words can be spent on the implications of the evolution from “multi-” to “omni-”. Here my 2 cents.

    The Omni Channel approach aims to not only let the customer experience the channels in a consistent way, but also in a seamlessly integrated way. Which basically means that from the customer standpoint there are no channels…all the touchpoints are a way to experience the brand. Though I am fully persuaded that technology is the key driver, a more profound shift has to occur in order to achieve this. Granted, an intelligent way to gather data, connect different domains, being fully social, big data, etc. are all great means but once again the customer want the greatest shopping experience which implies the way your business is structured. Take Apple. You buy a new Mac online and pick it up at the store. Don’t like it? Then you can either ship it back or take it to the nearest store. Apple doesn’t care. Why? Simple, they have broken the silos…they’ve got only one P&L compartment headed by the CFO.
    You see, there are fundamental shifts (e.g. converging marketing and technology) that must occur along with a savvy use of technology to enable a fully seamless customer experience. One brand that is doing great is Burberry – their CEO has the spark for great shopping experience (she has in fact recently been appointed to serve as head of Apple retail efforts…)

    Best,
    Michele

  2. helloworld says:

    Asking questions are truly pleasant thing if you are not understanding something fully,
    however this article presents nice understanding even.

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