In a world where customers are becoming more and more savvy, and where sustainability and transparency are becoming the norm, brands must find new ways to stay relevant and top-of-mind. One such way is through collaborative commerce, which allows brands, creators, and customer communities to be directly connected. This shift away from third-party data platforms puts the power back into the hands of the people and creates opportunities for brands to reward their most loyal customers. Here's a closer look at why collaborative commerce is needed now more than ever.
Gone are the days when companies could get away with subpar products and services. Thanks to the internet, customers now have access to more information than ever before and they're not afraid to use it. Before making a purchase, 87% of consumers conduct online research, according to Forbes. And once they've made a purchase, they're not afraid to share their thoughts on social media or review sites. In short, customers are becoming more and more savvy—and brands must rise to meet their expectations.
Another major trend that's reshaping the landscape of commerce is the increased focus on sustainability and transparency. Consumers are no longer content with "business as usual"; they want to know that the brands they support are taking steps to make a positive impact on the world. What's more, these consumers are willing to put their money where their values are—74% said they would pay more for sustainable goods, according to a study from Cone Communications.
So what does all this mean for brands? It means that traditional marketing techniques are no longer enough—brands must find new ways to reach their audiences directly. They must create experiences that appeal to customers' desire for sustainability and transparency. And perhaps most importantly, they must find ways to build trust with their customers—something that has become increasingly difficult in our fragmented world. Fortunately, collaborative commerce provides an ideal solution.
As consumers become more savvy, sustainable, and transparent in their purchasing decisions, brands must find new ways to stay relevant. Collaborative commerce which relies a lot on Blockchain is one such way—it allows brands to connect directly with their customers and build trust by putting the power back into the hands of the people. If you're looking for a way to stay ahead of the competition, collaborative commerce is it.