Posted in Marketing and Strategy Terms, Total Reads: 873
Definition: Collaborative Commerce
Touted as the next big thing after e-commerce. Collaborative commerce is a way of running businesses smoothly and more efficiently by using the web. The various parties are connected through a server to exchange data, strategies, designs and various other things.
Collaborative commerce can become very important for marketers because of the possibility of involving customers the decision making process. Many times this is referred to as customer as a partner. This will not only improve the decision making but also as customers will feel involved, the brand loyalty will go up.
The goal is to involve various stakeholders to make the business a more profitable one.
A graphical representation of collaborative commerce and where the companies stand on it is given above.
The various stages for Collaborative Commerce are given below: