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Whisbi is a tool for the omnichannel customer support. It bridges online, offline and phone-call experiences to provide a type of support fit for today’s and tomorrow’s merchants.
What Whisbi does is create a rich connection with the customer. It does that by streaming a live interactive screen from the sales support and at the same time it synchronizes this screen with a live phone call.
The great thing about the technology is that customers can effectively be “teleported” within the store or a specially designed sales support space. For example, if a retailer were to provide support for big-ticket products, such as cars, high-end electronics or maybe a designer items, the customer should effectively “feel” these products. For now, the general consensus among consumers is that such a feeling can only be attained in a real store. Two of the most important factors for in deciding to visit a brick and mortar store are the sensory experience and human touch.
Whisbi fulfills these two needs quite admirable. First of all it provides a smooth connection between the sales person and the potential customer. This is done either through a “click to call” function where the customer requests a call, or through a direct call to an inbound number. While the phone connection is established, customers also start a digital interaction with the sales consultant. This stream of information can be in the form of co-browsing, assisting in data-filling, showcasing product videos and photos, but most importantly, it can come in the form of a live product demo, from the store.
The sales consultant effectively streams live video to the customer through a mobile app, a laptop camera or even … wait for this … Google Glasses.
So while the two discuss on the phone, the customer can experience touching and discovering the product, as if he or she were in the store. This type of assisted purchases are the perfect fit for omnichannel retail.
The customer sees the sales assistant while they discuss but to insure the customer’s privacy, it doesn’t work the other way around.
The fact that the video stream and the phone call are synchronized may seem trivial but keep in mind that data is streamed through two very different infrastructures. The fact that the customer can see and hear the sales assistant at the same time gives a pleasant sense of human interaction, mimicking the experience one would have in a real store, with a trained store assistant. In fact, one of Whisbi’s four patents, and in my opinion the most important, is a patent to synchronize phone calls to online experiences.
The feeling you get by using Whisbi as a customer is quite impressive. By synchronizing multiple sensorial experiences, the solution works far better than either the phone-call option or the live chat.
In fact, the company claims a 15-30% conversion rate for customers interacting with the brand through this technology. While this might seem outrageously high, I think this might be an accurate figure. The feeling of (almost) complete immersion may be an even better experience than the one customers would get in a real store. The reason is “whisbi-ing” is an experience brought up by the customer’s demand, in the safety and comfort of a familiar place. By taking out stressful elements that brick-and-mortar stores sometimes have (crowds, un-involved sales reps), this omnichannel experiences works as a type of “concierge” service.
If you’ve read this far, you’ve probably noticed that Whisbi sounds too good to be true. The fact is that it actually IS too good to be true. The usage of Whisbi is limited by the potentially high cost of hiring qualified personnel to handle incoming customer demands.
Indeed, forms and chat have a low conversion rate. However they are great for low to median cost products where margins are low and the cost of specially trained sales reps is not justifiable.
But there are some cases where Whisbi can be a great fit:
1. Big Ticket omnichannel sales: Think of cars. A car should be seen, experienced and felt. It is an expensive purchase, one that has a lot to do with the rational but more to do with our emotional decisions. While purchasing and paying for a car is far from mainstream, a sales rep using Whisbi can offer a great display of the car’s features and teleport the customer to the dealership, before a visit is made. One of those using Whisbi is Fiat, and the ad below showcases a potential customer journey:
Its not just cars, either. I think Whisbi can work great as an omnichannel support for other big ticket items such as designer fashion, jewelry or maybe art.
2. High customer acquisition cost: Several industries have high customer acquisition costs. Telco is one of such industries. Voice and data subscriptions, especially for customers switching from one operator to another, as well as those that decide on their first subscription, have a high customer acquisition cost. This is due to increasing competition, large marketing budgets and extensive offers from competitors.
But such high-acquisition cost industries also tend to be profitable because of a certain aspect. That is the large lifetime customer value.
3. High lifetime customer value: The lifetime customer value expresses the long-term value a customer has for the company. Simply put – it means how much will the customer spend on the company products during his lifetime as a customer. For example, due to a high lifetime customer value, Goldman Sachs estimates that Apple’s customer’s base value at $295 billion. The point is that retailers estimating high customer lifetime value should use omnichannel customer service to acquire customers. Even if costs are high.
4. Personalized service for the loyal customers: Maybe not all customers can be served through an Whisbi experience. But such great support can be a great incentive for your loyal pack. Concierge support for loyal customers and high-spenders can go a long way in keeping your friends close.
5. Address to impress: Let’s face it. Whisbi’s technology is awesome. The experience of a live demo convinced me to write this review. The experience is great. Google Glass, mobile apps, live streaming and phone calls – arent these impressive? More so – teleporting users and showcasing products in real time directly in the store and letting customers purchase online and receive at home? This is impressive and impressive is an asset on its own.
In conclusion Whisbi may not be perfect for all ecommerce or omnichannel operations but for some – it is an impressive and must-have technology. The results in conversion rate improvement shows the need for better customer support within omnichannel operations. And Whisbi delivers.
We expect historic changes to be a bit dramatic. We think of “Evrika!” moments when inventors discover new technologies that make our lives better.
The reality, however, seems to sneak up on us. We now know how important the Internet is but few would have guessed it when it was used to exchange short bits of information between academics. Same for Google – it is now easy to see how important having the global stream of information at your fingertips actually is. But it was a lot harder when the concept was still in its infancy.
Not even Steve Jobs could have predicted the impact the iPhone would have on the world. And I believe Elon Musk will look back on these days and be surprised by the changes Tesla brought to the world.
When Elon Musk announced the Powerwall, the world shook a little bit. Its beautiful design and promise of energy independence seemed almost dreamlike. But the Powerwall shows a far larger vision than just making the home energy independent.
It is a promise that we could harness the virtually unlimited energy of the Sun and store it. Storage, you see, is the real problem. The complex systems we use are powered by energy that is consumed almost instantly. Our cars, our electronics, our planes – they feed on streams of energy as it is formed. Even the best energy storage systems fail after a short while.
The promise that one day a company (could it be Tesla?) can find a way to harness and store the sun’s energy (or any type of green energy for that matter) has an impact we can hardly predict.
The implications range from pollution reduction to geopolitics to economics. Especially economics. To understand how much we could save by switching to green energy, have a look at this estimate for an average Tesla car compared to one running on fossil fuel:
Think that’s a lot? That car “only” logs 120 000 miles. Compare that to the 397.8 billion miles logged by all trucks used for business purposes (excluding government and farm). In the US alone.
Now mix the numbers and add the savings Tesla’s technology can bring.
Add something else: sun-powered electricity. Think of trucks and ships that can move goods around without any need for refueling.
Because that’s where the real change comes in. When products are manufactured and shipped at a tiny fraction of what they are today, everything changes.
When we take out the distribution costs, the energy costs and any other costs associated with energy from our current commerce paradigm, everything changes in the world.
The products we buy would have costs that would be driven to the ground. Without costs associated with energy consumption and storage, goods would be manufactured cheaper and faster (instant energy), shipped cheaper and faster and consumed by more. We could have cheaper products, consumed by more and believe it or not, more profitable to sell.
There is only one thing stopping this: the current transportation and energy system. Musk’s vision has already stirred things a bit with car dealers. What happens when the company will go against the global leaders in energy and transport companies, the ones still relying on fossil fuels? These companies would have to change or fight the change. The former is what one might expect.
That’s where the Uber concept comes in. Uber connects, as you know, smaller professionals that provide transportation services. Right now this is limited to personal transportation. Uber, today’s Uber, acts as a glorified cab dispatcher.
But tomorrow’s Uber may have bigger ambitions. Somewhere behind the scenes, investors know that there’s more to Uber than meets the eye. The reason the company landed a $41 billion valuation is that it has the potential to change the global transportation system. Not just personal transportation but all kinds of transportation.
That includes making sure goods are quickly moved from manufacturing to storage to the consumer. Don’t take my word for it. Uber has been experimenting time and again with logistics. And if Uber won’t, there are other companies that will.
So you have virtually unlimited power. You have storage. You have the a system that makes sure goods are sent to the right destination by the optimum freight. This means the kind of change we now can’t fully comprehend.
It means that good is now in motion.
The term “robot” essentially means “worker”. It was coined by Czech author Karel Čapek in his science fiction work R.U.R. and since then it has become the standard term to define semi-autonomous machines.
It really is hard to define what we actually think of when we say robot. It may be an anthropomorphic fun figure such as Honda’s Asimo or a somewhat creepier animal version of it, such as Boston Dynamics’ Big Dog.
But it can also be a simpler and more applied machinery. Robots can be built to handle some of the most menial and repetitive tasks, including those that have to do with ecommerce fulfillment.
In terms of operations, fulfillment means everything that has to do with getting ordered merchandise to the customer. It includes picking and packing and let’s face it – it’s boring and repetitive. The robots below do just these things. Robots, unlike people, require no pay and are available 24/7. Whether using robots is effective or not, moral or not, it’s up to you to decide. But no matter your view on the subject, you have to admit they look awesome.
Not longer than two months ago, Fetch Robotics was non-existent as a company. Than they’ve got $3 million in founding and started working on a mysterious warehouse robotics project.
Today they’ve unveiled not one, but two robots aimed at helping warehouse staff make it through the long corridors. Their names are Fetch and Freight. Below is Freight, my favorite, a little guy following around picking staff and going back to base when orders are finished picking:
You would think that farming and ecommerce fulfillment don’t have too much in common. Maybe they don’t but they do have the Omniveyor robots from Harvest. The company was founded by former iRobot executives, the company that brought you house cleaning wonder-robot Rumba.
The company developed a fulfillment robot, called TM-100, which will be available spring 2016. Here’s TM-100 in action:
In 2012 Amazon paid $775 million for Kiva Systems, a Seattle based company manufacturing warehouse robots.
In just two years Amazon has fully digested the technology and now has 15 000 Kiva robots doing the picking and packing job twice as fast as humans could. Inventory moves twice as fast and products are delivered to packing stations in just under 15 minutes, faster than any human could.
Here are the little Kiva robots plotting to take over the world, while picking orders:
Some industries are more inclined to bridge the online-offline gap and provide omnichannel experiences. Among these industries, ticketing is one of the biggest. In the recent years, with the help of innovation and lots of money pouring in, technology has changed the way events are organized and attended.
While some companies have been more effective than others at attracting investments, media attention and of course users, the field is far from leveled. New ideas and opportunities are waiting to be discovered and ambitious startups are working hard at it.
One of these startups is KweekWeek, a London-based startup that recently received a $3.25 million investment to work on its technology and improve sales. The company founders, Tina Mashaalahi and Mehdi Nayebi, hope to tackle the fast growing competition with a better understanding on how customers discover and attend events.
While most ticketing tech startups focus on organizing and managing events, KweekWeek seems to be more inclined to tackle event discovery. There are probably many missed opportunities for event organizers due to potential event attendees not being informed. KweekWeek stated it has developed an algorithm that is able to push the right events to the right customers.
I am not exactly sure how well this algorithm works, but it probably crunches data on previous ticket purchases and aims to predict behavior.
By adding a social layer (event goers can follow organizers) the predictive analytics might become even more effective and event discovery can actually be a pretty potent tool.
As small and medium event organizers have traditionally built lasting relationships with attendees, this social networking approach to event management seems to be a great idea. Even more, adding a social layer, event organizers can probably engage their followers even after the event and they can use their input to improve upcoming events.
Social networking and event discovery are not the only innovations KweekWeek brings to the table. Although the company monetized the product with a ticket processing fee so far, they've shifted to a new model. By providing a fixed subscription fee for the organizers, they are effectively building a new model, closer to software licensing. This might work best for medium to larger event organizers, if it catches on.
Though it has a difficult road ahead, I believe that KweekWeek is a great alternative to previous ticketing companies. It combines social networking, event discovery (a great tool for event sales) and mobile experience to create a multi-channel event management tool. It may just be a winning ticket.
The marketplace has been a very influential social and economic construct for a very, very long time.
It has been a central concept to commerce all over the world since the dawn of man kind. In time, the marketplace has been refined and evolved to include ever more complex structures. During the past century it morphed from temporarily trade gatherings to large permanent structures such as shopping malls and eventually it evolved into what we now know as the online marketplace.
Ebay, Alibaba, Etsy, Amazon and others have one thing in common – they get sellers and buyers in one place. These online marketplaces are fueled by a business model that has seen a steep increase and proved excellent in the past years. But now, it's time for the next step:
I believe the times they are a-changin', like Dylan would chant. The Online Marketplace is not enough any more. The markets demand something more.
That something is the Functional Online Marketplace, a virtual hub that combines the features of a marketplace (buyers and sellers, reputation management, transaction handling) with functions that improve the lives of either sellers or buyers.
The Functional Online Marketplace goes beyond just letting sellers and buyers trade. It helps the seller run its business better and the buyer benefit more from the product purchased.
And some of the biggest tech companies we know have created this type of Functional Marketplaces. We've used them and most customers love them. We just didn't put a name on it. Have a look at some examples:
Steve Jobs envisioned the PC as a digital hub, a central unit that connects the user's digital activity. From email to web surfing, from music to pictures and more. It than proceeded to create this vision and along the way he built much more.
By launching the iPod and than the iPhone, Apple moved the digital hub inside the consumer's pocket. With such a valuable real-estate in the reach they've had to build a system that shipped music, video and applications from third parties to these devices.
The iTunes Store and the AppStore were born. Apple built the platform to consume apps, the place where customers could download these apps, empowered developers to build these apps but did something else too.
It built Xcode (the development tool for iOS developers), it launched Objective C and than Swift (the programming languages used to build apps) and helped developers create useful apps.
Apple went beyond the marketplace paradigm. Yes, it allowed media and software consumers to meet developers but it also created the platform where they could be consumed and the tools to build them. It built an extraordinarily effective Functional Marketplace.
But Apple is not the only one …
Uber is an extraordinary successful company that connects freelance drivers to those in need of their services. It connects buyers to sellers. It is technically a digital marketplace. And more.
First of all Uber empowered a set of freelancers that didn't know they've actually had a market. The driver app allows drivers to see potential riders and provides GPS-linked functionality inside a simple mobile device.
The functional side of Uber not only improves the way sellers (drivers) provide their services but actually it makes it possible.
For customers, the app makes hailing a driver an easy task, it allows direct payment on mobile phone and brings the comfort previously unattainable. The functional marketplace at its best.
Google is many things. Search giant, mail provider, mobile os developer and robot builder among others. But at its core, the business model is quite simple: Get people to pay for ads. Show ads to customers. Make people click on said ads.
Google ads revenue (billion $). Source
Advertising accounts for 89.5% of Google's total revenue so it's safe to say that ads are its bread and butter.
To achieve these levels of revenue Google has to place together "The Sellers" (Advertisers) and "The Buyers" (Customers clicking on ads). Though customers don't technically buy on Google, those that generate the company's revenue end up as leads or buyers on advertisers' websites.
To do this, Google built its ad market on top of its primarily function: Search. Users searching for information of interest are effectively buyers in the Google functional marketplace.
The marketplace, therefore provides functional support to buyers. The search, Gmail, Android – are all basically functions that lock in the ad-clicker and in turn generate revenue through these types of transactions.
These are just three functional marketplaces examples but they illustrate the concept. To be successful, a newly established marketplace has to provide more than just a connection between buyers and sellers. It needs to provide function beyond the commercial. By improving the lives of buyers and sellers beyond the commercial, Functional Marketplaces provide the type of lock-in and effectiveness previous models don't.
Ben Horowitz tells it like it is: starting and running a tech company is hard. Really hard. But not for the reasons you would think.
Founding and running a tech company is generally viewed as the thing anyone should aspire too. The fame, the riches and everything that goes with it is the dream of our generation. Silicon Valley is just as attractive as a career in Hollywood or being a rock star. With poster boys such as Mark Zuckerberg or Elon Musk, young men and women grow up believing that all you need is a great idea and the guts to start it.
But that dream fades when your bright idea and optimistic vision have to face the hard truths of running the company you’ve just founded. Ben Horowitz has a reputation of being a no-bullshit kind of guy and you can actually feel his straightforward words telling you that your dream will be squashed by reality.
Unlike the glamorous and relaxed articles you’re reading about the likes of Facebook, Google or PayPal, Ben’s book is a clear indication of what you can expect when running a company and what to do about it.
It’s definitely not a perfect guide to running a company but it is a great start to understanding what to expect. Being a CEO is a tough place to be in. It’s a lonely place. It’s full of doubt and decisions that may or may not be right.
One of the greatest idea I’ve found in the book is telling it like it is. Yes, telling it like it is when things fall apart. Because they constantly do and someone has to constantly put them together.
Sometimes CEO’s start trusting their PR too much. They start living the persona they need to project to customers, investors and the media. Of course, no one can just go and tell the world that they don’t have enough data to make a decision. Or tell investors that the company may or may not exist in the next 6 months or the product development is stalling. Or tell customers that the product they’ve just purchased may be out of the market in the next year.
No. The CEO’s job is to project confidence and show the world that everything works just smooth. Right? But what do you do when things are the opposite of smooth? What should the CEO do when they fall apart and everything starts running amok. How can you tell the engineers that the customers hate the new features and they just have to rewrite everything so it can be spotless. How can you tell the marketing team that the last campaign they’ve pulled is bringing in no results.
Ben’s answer is simple:
“[…] give the problem to the people who could not only fix it, but who would also be personally excited and motivated to do so”
There are three big reasons to do so:
Take care of the People, the Products, and the Profits – in that order.
Throughout the book Ben Horowitz deals with hiring, managing and retaining employees best fit for the company. And he stresses the “fit” part. People that cannot work in a team should not be part of the team. Egos and politics can destroy companies if not properly managed.
The people themselves have to build products that the market needs and wants and there’s plenty of advice on this topic also. Concise, clear and to the point advice.
Ben shows that innovative products and successful companies are built by CEO’s that lead without knowing where the path would lead to. They lead their teams and they try and try. Sometimes they get the right answers. Sometimes they don’t. That’s because there is no formula for building the equivalent of Facebook or Google or Apple. If it were – more people would be doing it right.
The hard things are things all responsible entrepreneurs and CEO’s have faced. It’s the worrying, the lack of direction or know how, the lack of guidance and the loneliness. It’s keeping your emotions in check and being stronger because of it. It’s finding answers without showing weakness. It’s the struggle you have to embrace so you can continue when things get rough.
In the end I would highly recommend this book to anyone starting or running a tech-related business. My only regret is not having read it five years earlier but then again – it was not written then.
What does it take to turn a store visitor into a loyal customer? Any retailer that can answer this question is surely a leader in its respective niche but it is not a simple question.
There are a multitude of factors at play and we thought we might ask the experts. We’ve reached out to George Skaff, CMO of TouchCommerce, the leading company in omnichannel engagement. George has over 25 years of marketing leadership experience in the computer industry. Prior to joining TouchCommerce, he has held marketing leadership positions with SGI, DigitalPersona, Wyse Technology and NEC Computers.
George Skaff: TouchCommerce is the innovative leader in omni-channel engagement solutions. We have been in business since 1999. Our company was built with a results-driven retail perspective to replicate and enhance the in-store customer experience online, with chat technology. We have award-winning technology platform and mobile solution with an emphasis on data, self-service and automation. We are focused on Enterprise Global F1000 eCommerce companies. TouchCommerce real-time customer targeting engine leverages “BIG DATA” to target and engage customers in a personalized digital assistance experience on desktops, tablets and smart phones across the omni-channel environment. TouchCommerce operates in 16 countries across North America, EMEA, and Japan.
With mobile revolution happening right now, the way customers want to interact with retailers is changing fundamentally. There is a shift in customer behavior underway. You can no longer rely on them dialing your number when they have a problem and talking to a customer service agent. There are hundreds of ways they could contact you and they may well try several different ways to get the information they want. However, make no mistake: your customers are not aware that by clicking out of a webchat session and picking up the phone that they are ‘changing contact channel’. They do not care. All they are concerned with is getting their query answered in the easiest, quickest way possible. And they want their experience to be consistent across all these channels.
Combined or stand-alone, the fully-integrated custom solutions we create for customer acquisition and customer care and retention contribute to an enhanced online, mobile or in-store customer experience and increase self-service in the omni-channel environment.
George Skaff: To maintain consistent consumer experience, it’s vital that retailers start thinking in terms of the customer journey and the conversation you are having with them, rather than the platform for that conversation. In order to have a cohesive, joined-up omni-channel offering, it’s essential that the different channels are integrated at the back-end. There should be one view of each individual customer, no matter which channel they have chosen to contact you. Ideally, this view should be presented to the agent in one, single desktop application too, so when a customer calls, the agent has a clear idea of their previous interactions and account details, and can quickly access information to help solve their query.
When choosing a software provider, retailers should consider if the solution:
George Skaff: The Dynamic Targeting Engine is the core of the entire RightTouch platform and underlying technology. It tracks all user behavior and website variables to identify optimal engagement opportunities. This highly flexible tool can be configured in limitless ways to identify any group of users and target their specific needs. All direct consumer engagement activities are managed via this robust engine.
By using Our Dynamic Targeting Engine, you can focus your energy and resources on the customers by presenting them with the products they want most. This targeting tool allows us to identify consumer behavioral attributes in order to launch any one of our products with the right context, including chat, guides, offers, survey invitations or any other rich content offering a targeted engagement experience online.
The Targeting Engine enables:
George Skaff: The retailers should be very specific in selecting the metrics to measure their omni-channel marketing performance, and not to focus on metrics for each individual channel. Engagement metrics should include consumer visits, consumer interactions, conversion ratios, LTV, incrementality in all of the above measurements, as well as customer satisfaction.
George Skaff: Several innovations are happening as we speak, among them ability for the consumer to effortlessly move across the channels, as well as the ability for the retailer to follow consumer journey across the channels. Retailers are starting to pay close attention to consumer’s shopping journey online and offline (in-store.) Products like TouchStore from TouchCommerce are a good indication of the future entails.
George Skaff: Apple Pay improves the ability of the consumer to effortlessly complete the purchase, but it does not change the purchase paradigm in principle. While there has been other payments method (Google, Amazon, etc.), Apple massive outreach in promoting this is helping the fast adoption.
George Skaff: The store of the future will be like a country without borders, where consumer moves effortlessly across different channels executing their intent to purchase. The thing to remember is that customers do not generally have a preferred channel. They will just pick whichever one they think will get them the result they need most quickly with least effort.
Consumers want choice – they will want to use different channels depending on their needs – and the ease with which they can contact a company increasingly forms part of the criteria for choosing one brand over another.
For example, a customer might call their mobile provider to find out if they were on the best price plan, but they will go online to see their current balance – and then turn to Twitter to chat with an agent about data limits abroad.
Another example is when a customer is doing their research online on their laptop looking to purchase a new TV, they check with their friends on social media regarding their friends recommendations on their tablet while sitting on the couch at home, then search for best prices using Amazon mobile app, and still will end up in a physical store to touch the product before they buy, and they might get engaged with the brand chat agent while in the store, ending up purchasing the TV of their choice in the store but using the coupon pushed by the chat agent to their mobile device.
Apple announced online sales in Russia will stop due to the ruble’s volatility. Indeed, the Russian currency has taken a blow recently as it plummeted to an all-time low against the dollar.
The Russian Apple online store has been taken offline while prices are reviewed and commercial activity on iPhones, iPads and other Apple products has been halted.
But how did Apple went from more than $1 billion in sales in Russia in 2013 to pulling out in 2014?
In 2013 Apple failed to reach an agreement to local mobile operators so it went straight to retail chains and selling online. It didn’t go too bad. iPhone sales doubled to 1.57 million units. After seeing huge spikes in demand, the local operators finally gave in and agreed to Apple’s terms. Nevertheless, almost 80% of all sales came directly from retail, skipping carriers.
So basically Apple sold $800 million worth of unsubsidized products without any help from local carriers, a surprisingly good result for the Russian market. “We’re really happy“, said Tim Cook in 2013.
Yes, the ruble drop may be a problem for Apple. But why close the store? Why block sales? Why not just switch to foreign currencies only? Why leave such a huge market? Sure, Russia is struggling with an economic a crisis but on a smaller scale – so is Europe. You don’t see Apple stopping sales there.
It may be that Apple was bound to leave Russia anyway and it figured this is the best moment to do so without worrying investors.
Starting January 2015, Russia will pass a law forcing tech companies to keep Russian users’ data in Russia. That means Apple will have to move some of its servers to Russia and keep them there.
Now this is obviously an unacceptable situation. With tensions between Russia and the US, privacy and data security concerns will force the company outside anyway.
It may be that the ruble collapse is the best Apple can go about a bad situation: leaving a billion dollar market and still look like its saving the day.
Achieving clarity in Omnichannel Retail is no easy task. Retailers, especially large ones, need to get all departments, all sales channels, suppliers and fulfillment operations on the same page.
And that’s just the first step. Then comes the IT integration where legacy systems are connected to a central management tool that handles at least inventory transparency, CRM and order management across channels.
Omnichannel Retail is not mainstream right now. It is still in its infancy. Sure, some are more advanced than others and some companies are building the future faster than others. But the truth is omnichannel is a need to be fulfilled for most retailers.
And here come the knights in shiny digital armor to rescue the day. The following 5 vendors have built omnichannel retail capabilities ready to be plugged into existing retail ecosystems. They are now the go-to elite for large retailers in need of upgrading their IT infrastructure.
Shopatron was founded in September 2000 by Ed Stevens and Sean Collier. Since then, it has evolved into an integrated SaaS platform that connects offline and online orders management, making it easier for customers to purchase from retailers.
The company offers specific omnichannel solutions, most important being:
Shopatron targets midsize retailers and its main benefit is the advanced order routing. The platform combines online and offline sales and claims inventory visibility across channels.
NetSuite was already rocking a great SaaS ERP product and a fully flavored ecommerce solution when it acquired OrderMotion in 2013. Now the company can provide inventory management across channels, a single customer view, business intelligence data and omnichannel order management.
The company, among the first to bet on SaaS platforms, is now one of the fastest growing companies in the field, closing 2013 with $414 million in revenue. The revenue is up 34%, which is a big win for the company initially backed by Larry Ellison.
NetSuite started as NetLedger, envisioned as an online accounting tool, that later turned to an wider array of company management tools.
The past two years have been very active for NetSuite in terms of omnichannel related acquisitions. In 2013 it acquired Retail Anywhere, a POS solutions company. In 2014 it acquired both Venda, an ecommerce SaaS company, and eBizNet Solutions, a company focused on WMS (warehouse management system) solutions.
Netsuite has decided omnichannel is a perfect mix when it connects companies focused o separate blocks in the retail chain.
PayPal is not the only jewel in eBay’s pocket as it seems. eBay Enterprise (formerly known as GSI Commerce) is one of the fastest growing and biggest companies providing technology and consultancy for omnichannel retail.
The company delivers four big solutions to its customer base:
Unlike the other companies on the list, eBay Enterprise goes beyond software integration and into marketing and operations. In terms of retail solutions, eBay Enterprise provides support for commerce integration across channels. The company integrates the main sales touch points, with the help of its omnichannel tools:
The omnichannel operations tools cover a lot of ground and can be used in fulfillment operations, customer care and store based fulfillment.
IBM stands for a lot of things and among them it had to be omnichannel retail also. The tech giant offers technology to retailers in need of:
Its Websphere Commerce solution connects both online and offline sales through its different versions. It handles cross-channels inventory visibility, distributed order management and scales as you would expect from IBM.
At the core of IBM’s order management and inventory tools you’ll find components IBM acquired in 2010, when it purchased Sterling commerce. The transaction cost IBM $1.4 billion but brought in 18.000 global customers.
The Websphere commerce is a great fit for large companies and powers some very well known brands, but it is somewhat a not so great fit or midsize retailers.
Hybris, now a part of SAP, is probably the best fit for omnichannel retailing. Hybris is a dynamic company focused on growth and delivers constantly on market needs.
The omnichannel solution is scalable and built on a modern and flexible architecture, that allows interaction with all interfaces. Its order management solution, inventory and commerce application are built to work together seamless and easily connect with other systems.
Hybris’ solutions work both B2B and B2C and can handle inputs from multiple inventory sources and outputs on multiple sales channels. Moreover, the solution features a central content management system that enables retailers to push content across a multitude of interfaces.
As of 2013, Hybris is a part of SAP, making it a global powerhouse connected to the world’s most popular (well, at least used) ERP.
So that’s it – these are the best of breed. Of course, there are more out there that deliver great products and I could name Intershop, Demandware or even Oracle. They, however are less inclined to omnichannel or have a really new found love for omnichannel retail. The vendors mentioned above are leading the pack in omnichannel retail implementation, especially for large customers.
Twitter seems bullish about its place in the omnichannel retail arena. After hiring Nathan Hubbard, former Ticketmaster president, the company started seriously developing ecommerce features for its users.
It all started with rumors leaked online about Twitter dipping its toes in ecommerce. The news were soon followed by a “buy now” button tested for a while and a few months back the “#AmazonCart” partnership was announced. The Amazon Cart project allowed customers to add Amazon products to their carts by linking their accounts and adding them to their carts via Twitter.
Twitter now launched Twitter Offers, a way for advertisers to drive social media traffic directly to brick and mortar stores. The process is pretty straight forward or Twitter users: they link their credit cards to Twitter, claim rewards from advertisers and then redeem said offers in store.
As it seems Twitter sees commerce not just online but offline as well. The vision includes online and offline shopping, social media, Amazon accounts linked to Twitter and … payments.
Long story short: everything Twitter has done so far is outlining a strategy where the company targets more than social media. It’s targeting omnichannel retail as a way to increase its revenue. It has the user base and it’s building the payment infrastructure. Its focus and drive may lead it where Facebook failed – setting foot in commerce land.
Achieving clarity in Omnichannel Retail is no easy task. Retailers, especially large ones, need to get all departments, all sales channels, suppliers and fulfillment operations on the same page. And that’s just the first step. Then comes the IT integration where legacy systems are connected to a central management tool that handles at least inventory transparency, CRM […]
What does it take to turn a store visitor into a loyal customer? Any retailer that can answer this question is surely a leader in its respective niche but it is not a simple question. There are a multitude of factors at play and we thought we might ask the experts. We’ve reached out to George Skaff, CMO of TouchCommerce, […]
Here are 5 companies whose combined online sales in 2011 amount to almost $75 Billion, US and Canada only. Let’s also have a look at their background and how did they manage to reach the top 5. The winner is one of the fastest growing companies in the world, a company born and raised online and […]
What better way to get advice on implementing and improving omnichannel retail than asking the experts. So we did ask the experts and we started with Mattias Pihlström, founder and omnichannel consultant at Brightstep AB. Mattias is experienced in implementing ecommerce, multi-channel and omnichannel processes with industry leaders such as ABB, Apoteket, Ericsson, SCA, Indiska, Interflora, TeliaSonera and […]
Shopping cart abandonment is one of those dreaded issues both online and omnichannel retailers hate. There are many reasons for customers to just leave a webstore after they have picked their products, instead of completing the order. Some customers find better prices elsewhere, some fail to navigate the store but most (56%) give up on their order […]
In a recent outlook on China’s eCommerce Evolution, Brent Cohen outlines the astonishing evolution we might be missing. In 2012 China had a 66.5% growth rate and registered RMB 1,2 trillion ($197 billion) in eCommerce transactions. Cohen says an expected RMB 4 trillion ($655 billion) increase by 2020 is a “conservative” estimate. That shouldn’t be too […]
Ecommerce startups need flexible, easy to set up and cheap solutions when it comes to software. A few companies provide such solutions and probably the best known is Magento, which can accommodate a wide array of startups. However, Magento does have some issues and when it comes to small ecommerce companies, it might not be the best choice. […]