Social Commerce has a Big Cloud Future

All the major players have a cloud for every occasion; all perfectly aligned to help companies take advantage of their online sales channel. These solutions all align to providing the most agile and scalable method of attracting and winning consumers in the digital space. It is the technology sectors response to the continued growth of e-commerce and the need to provide their customers with flexible yet powerful online tools to deliver personalization to the masses.

EMPOWERED CUSTOMER – ‘IN’ MOMENT

To win online presents immense challenges along with opportunity. Competition is fierce and consumers are empowered; hopping from one site to another in an instant. Companies need to align their end to end online operation to the customer’s very high expectations. According to a recent Forrester report “empowered customers are changing the fundamentals of the market.” To respond companies are executing strategies that place the customer at the center of their universe. Customer intelligence is key; and gathering the data that supports a view of the customer is built in to all of these cloud solutions. From every angle of interaction data is collected and stored against a customer profile to provide the means of ‘knowing’ the customer. This information is then used to for instance ensure customer services are aware of order history and of course to inform marketing efforts to help drive new sales.

All these cloud solutions focused on the online channel are incredibly powerful; for delivering an e-commerce solution that manages content, offers responsive design, inventory and billing management through to all the advanced analytics to manage customer data. However all these solutions seem to be neglecting one very important factor; the need for ‘real-time’ data on what the customer wants or intends to do. The empowered consumer does value the fact you understand all this past information about them; but what they want is to be met in the moment and offered a real-time personalized experience.

WHY WAIT? PROACTIVE BEATS REACTIVE EVERY TIME

Why have technology that waits for consumers to come to a web site?; why not find them beforehand; when they are declaring their intent to make a purchase online. This is especially important considering the rapid rise in the use of mobile and social for consumers to research, show intent and make online purchases via buy buttons.
This is the next wave of commerce; made possible by advanced machine learning technology; its something we at Chatterbox Labs deliver; and we call it ‘social commerce’.

Our leading product ‘Path 2 Purchase’ fits right across the multitude of clouds used to deliver a digital channel for ecommerce. Our machine learning solution works across social / textual data in real-time to pinpoint consumers ‘in’ moment; on their own path to purchase; way ahead of when they might go and visit the web site of a brand.

‘Path 2 Purchase’ technology is deployed for segmentation, audience targeting and lead validation for identifying “in moment” buyers in real-time. Utilizing statistical machine learning methods ensures highly accurate categorization of each step of the purchase journey (non-buyers, ads, spam are removed) therefore, allowing each customer or brand to focus on Pre-Purchase (Interest, Consider or Buy). Together we find buyers on their journey to drive new sales and customer acquisition using advanced Natural Language Processing (NLP) and Machine Learning.

REAL TIME SOCIAL COMMERCE & MULTIPLE CLOUD FIT

Social commerce is the future; here now in the present – the ‘in’ moment where the empowered consumer exists on the purchase path. According to Forrester customers “….will reward companies that can anticipate their personal needs and wants…”. The move to ‘real-time’ goes beyond trying to predict the future based on past orders and customer history; it facilitates the meeting of brand and consumer ‘in’ moment.

For more information on ‘Path 2 Purchase’ please contact Andrew Watson, VP Strategic Alliances, Andrew@chatterbox.co or visit our web site www.chatterbox.co