Monday, August 27, 2012

3 Phase Strategy in Digital Commerce

It's been quite some time since my last post on "5 Pillars in the Internet Content Business", where I was discussing the areas to look at from content to advertising, access/browsing, payment, and fulfillment/monitoring. I have been busy but I am back with a couple of ideas brewing in my head.

Lately, I have been deliberating on what are the phases in which the various players in the markets are putting into play as they go-to-market in digital commerce. I came up with the following 3 phases which I would like to share and discuss with you - all comments most welcome to refine this further :-)

(1) Apps (& Content)

(2) Social

  • Today, we are also witness to the battle of the social networks - Facebook, Twitter, and recently and Google+ giving the former 2 a good run.
  • Consumer fatigue in the above "traditional" social networks amongst especially the millennials are leading to exits from social networks like Facebook to micro-blogs like Tumblr and more rapid and engaging conversations through instant messaging.
  • And so, instant messaging is also turning social.  And there are many players in the market - the popular WhatsApp, Naver Line, KakaoTalk, SK planet TicToc fast mobile messenger and more.
  • Tremendous opportunities abound to engage communities from apps drawn to the social messaging platforms, with a relevant content marketing calendar.

(3) Commerce

  • What we have been hearing like a broken record these days "Commerce is getting social"
  • Indeed by understanding the conversations taking place in social networks, microblogs, group boards etc, businesses would be able to discern patterns and profiles of consumer behaviours.
  • Not only will these consumer analytics help in the commerce of digital products but rather, end to end, with consumers buying time these days (ease of purchase key), businesses could look to explore differentiated offers via transmedia connecting people to a new world of entertainment (digital and physical merchandise).

Definitely non-prescriptive in the approach of how the above 3 phases "Apps-Social-Commerce" need to be deployed by businesses. It all boils down to sitting down and understanding the markets businesses would like to play in digital commerce and pursuing the relevant game-planning.

What do you think about the above 3 phases in digital commerce? What have your strategies been for your businesses and markets you play in?

Talk soon,
Nelson Wee
Catch me on Twitter @nelsonwee
Look me up on LinkedIn

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