We’ve covered the various ways that Inxeption merchants can get up and running with industrial commerce, as well as tips to prepare for scale and growth. Once you’ve digitized your product catalog into Inxeption’s Product Ledger, created some sales channels to promote your products, and analyzed the data to better understand your customers’ preferences, that’s when the true power of Inxeption’s platform comes into play. In these last few steps of our Bridge Methodology, we will cover how organizations can build closer relationships with both customers and other merchants in the Inxeption Business Community to create more valuable offers to customers and foster deeper brand loyalty. View our previous posts here and here, and subscribe to our Buzz newsletter to stay up to date.
Now, let’s take those last few steps...
Step 5: Collaborate with your customers.
On the bridge to digital transformation, traffic flows in both directions. By digitizing your products on the Inxeption platform, you now have instant and direct communication with your customers through chat, email, documentation references, and other resources. You get immediate and valuable feedback that helps you discover preferences, needs, and product ideas. You can run feature tests, market discounts and promotions, and experiment with customization in ways you never could before. You’ll have data analytics about what your customers are looking at and what seems to drive a decision to buy. You can tailor the promotions and pricing individual customers see.
A lighting company used the Inxeption platform used to ship LED light sets for offices that were designed to be hard-wired. One day, the CEO received a customer email asking about wall outlet plug sets, often called “pigtails,” and why they weren’t included. The CEO asked her team to source pigtails and, on a trial experimental basis, offer them as an add-on accessory for the light set. Immediately, sales of pigtails shot up, creating a new revenue stream. As it turned out, many buyers wanted the option for pigtails and they were simply going to a local electrical supply or hardware store to buy them. That piece of information was not captured until Inxeption facilitated the easy and direct access to customer emails and feedback for the CEO.
In the past, companies often worked through distributors who, by design, kept manufacturers and customers apart so they could justify their role in the middle. With Inxeption, companies enjoy new and more direct channels to customers, supplementing or entirely replacing existing channels. They also can use the platform to evolve their relationship with distributors, facilitating a bidirectional knowledge share and responding more rapidly to market demands. Put the new era of transparency to work for you.
Step 6: Leverage your business community.
The Inxeption platform, secured by blockchain, functions as an automated and highly secure traffic management system. It keeps your vendors, customers, support team, and logistics partners in their lanes, with their data secure and immutable.
But that level of security also creates new opportunities for collaboration, through the creation of unique marketplaces. Partner with service providers and companies with supplemental product offerings to create vertical and horizontal marketplaces that showcase relevant offers that are available only through your one-of-a-kind Inxeption Marketplace. Marketplaces with compatible, thematic products, including business services like accounting or legal help, will be easier and more flexible to arrange, launch, run, and reconfigure as new opportunities arise. Customers searching for what your partners have will now find you — and vice versa. The added benefit: you are in control of the marketplace, not Amazon or another platform that wants to steal your customers. Your products, pricing, and customer data are all yours, not a third party’s.
One Inxeption customer is a multi-billion dollar business service provider of warehouse space; their Inxeption-powered I-commerce site not only allows customers to shop for warehouse space, but also surfaces service and product offers from companies who make compatible products like forklifts, racks, and industrial cleaning services. Inxeption makes these kinds of relationships easier to create and leverage.
Step 7: Repeat and thrive.
Once you’ve started your journey across the digital bridge with a single product, your future is on track and in your hands. Your new channel infrastructure is ready for as many products as you’d like to add, or to experiment with entirely new products. It can add a new channel to your existing line-up or replace an existing channel or channels. Begin with something as simple as reducing shipping costs, and gradually add features of the platform, converting your existing online presence or even starting a new company from scratch. Your digital dashboard is a real-time window into what your customers are buying, thinking, worried about, and needing; it’s also a way to manage your supply chain, choose flexible low-cost shipping options, and find new channels and new customers.
Inxeption I-commerce: Infinitely scalable. Simply transformative.