Throughout the previous modules and components, our goal was to pave the way for a successful ecosystem market place. In essence, the market place was the end goal that we were building towards through all our previous efforts. The market place is the primary customer-facing product that will attract users to our ecosystem and encourage them to try out our services. A well-designed and convenient market place can lead to a loyal customer base, which can be the engine for fast market entry and penetration, resulting in increased transactions and revenue.
By prioritizing a user-friendly and engaging market place, we can create a loyal user base that drives activity, transactions, and ultimately revenue. The market place represents the culmination of all our previous efforts, and is the most important link between our ecosystem and our end-users.
A successful market place is crucial for the overall success of our ecosystem, as it provides a platform for users to engage with our services and generate revenue. By leveraging all our previous modules and components, we can create a convenient and engaging market place that attracts a loyal customer base and drives growth.
With the addition of machine learning and AI technologies to our ecosystem, we can build a platform that understands customer behavior and changes in habits. By conducting comprehensive history analysis, we can provide a personalized view along with customized advertising and offers dynamically generated for each user. The smart components included in the platform will work together to maximize transactions and customer interaction, leveraging the following key features:
- Dynamic offering: Building on customer usage and navigation preferences, the system will run dynamic offers for matched customer segments.
- Scheduler leads: This approach generates leads via the scheduler module based on the user’s listed events.
- Smart bundling: Depending on the product, the system will bundle each order with smart-fit services or products that actually meet the customer’s needs.
Scheduler leads
Generating leads from scheduled events is a key strategy for upselling matched products in our ecosystem. The system should match a set calendar event with a relevant product list or features to propose a personalized offer and push the best deal to close the sale. For example:
- Birthday events can trigger offers for gift-related products such as a memorable souvenir or a birthday cake. The smart ecosystem can also extend this by offering travel deals if the historical data reveals the customer’s interest in travel or adventure.
- Scheduled meetings can also be used to generate leads for discounted formal attire or a new pair of shoes, especially if the event keywords reveal an interview or graduation ceremony.
- Another example for leads generated from a schedule is offering drive-sharing trips or hotel accommodations in addition to flight ticket reminders for added travel convenience.
In addition to generating leads from scheduled events, the ecosystem can also auto-generate calendar events for relevant products based on successfully completed orders. For example:
- After using the ecosystem to book a travel ticket, the system can predict multiple possible leads that usually follow this type of order, such as:
- Accommodation deals that come with special offerings within the arrival dates as stated in the booked travel ticket.
- Touristic location deals and gift shop offers.
- Transportation deals, and more.
- Another practical example of leveraging completed orders comes with the grocery option. The system can use the collected customer information and usage habits to decide the proper date to show cleaning product offers again for the customer. This addresses one of the main gaps in the current digital space where users are bombarded with ads even after the sales order is completed.
Dynamic offering
A traditional dynamic offering system uses historical data and combines it with browsing and search keywords to push offers to customers. Additionally, the ecosystem groups common customer searches and shares data with registered merchants and business accounts, even suggesting a smart offering to be published immediately if approved by the vendor.
This approach runs in a blind bidding mode for all merchants, allowing the system to acquire the best value for customers while also providing a sufficient conversion rate for the merchants. By leveraging historical data and customer search behavior, the ecosystem can provide personalized and targeted offers to customers, increasing the likelihood of a sale. Additionally, by sharing data with registered merchants and business accounts, the ecosystem can create a competitive bidding environment, resulting in the best possible deals for customers.
Overall, this approach provides a win-win situation for both customers and merchants, as the ecosystem can maximize revenue while providing the best value for customers. By continually refining and improving the dynamic offering system, the ecosystem can create a sustainable and profitable platform for all stakeholders involved.
Smart bundling
A sophisticated bundling algorithm generates unique product combinations that can be tailored to a specific situation or based on additional voluntary user information. This allows the ecosystem to link a product with an ongoing purchase, enhancing the customer’s overall shopping experience.
For instance, if a customer is about to purchase a washing machine, the system will automatically suggest a bundled deal with a laundry detergent product at a discounted rate. Moreover, the smart ecosystem will analyze the buyer’s profile to offer an additional option, such as installation services, at a reduced price.
Additionally, if the product requires delivery to a high-rise building and a furniture lift is not available, the system will offer a bundle that includes two carrier staff to deliver the item to the doorstep. The system will continuously generate new bundles and adjust discounts or add new items depending on the customer’s response, increasing the likelihood of a sale.
With such a smart bundling algorithm, the ecosystem can offer a vast range of products with personalized touches for each order, catering to the unique needs of each customer. This can drive engagement and result in increased revenue for the ecosystem.