Disruptive technology is transforming how we find, buy, and consume all forms of content. It has forged new business models and destroyed existing ones. Nowhere is this more apparent than in the music industry, where revenues for recorded songs tumbled from over $14 billion in 1990 to less than $7 billion in 2010. Now, these forces are poised to transform every other vertical. Recent history has shown us that only companies that are truly prepared to be digital disruptors themselves will thrive in this environment.

Three things you need to know

Digital commerce everywhere means catering to consumers who live in a connected world of heightened expectations. To satisfy and delight them, digital goods and content cannot simply be sold; they must be delivered in ways that are elegant, frictionless, and relevant to the individual. In order to do this, businesses must internalize the three key principles that differentiate digital commerce from all other types of online retail:

It's about the product experience

If traditional ecommerce is about pushing consumers through a funnel, digital commerce is about getting them to stick around and chat. The dynamic nature of virtual goods means that the most disruptive and compelling digital commerce destinations are not just places to find and buy things, but also to own, consume, and enjoy them–across every touchpoint, everywhere.

It's about new business models

Digital technology has all but eliminated the incremental costs of distribution, and consumers instinctively understand this. In compensation, they are demanding new forms of purchasing and ownership that complement their consumption patterns and provide better value. To be competitive, digital commerce practitioners must move beyond perpetual licenses to transformative modes of monetization that range from rentals and subscriptions to micropayments and freemium purchases.

It's about owning the conversation

When customers engage in a digital commerce experience, they invite it deeply into their lives. Today's most successful software, gaming, publishing, media, and information enterprises offer such complete experiences that consumers happily return day after day, month after month, to discover, purchase, and consume more. As they do so, they provide these companies with an incredible wealth of data and analytics that allow for unprecedented forms of merchandising and offer management. Successful digital commerce companies recognize the importance of owning and monetizing these digital conversations.

We can help

At Elastic Path, everything we do is driven by this vision of digital commerce. We know from experience that strategies and solutions rooted in these ideals help companies sell more digital goods and content, which, in turn, allows them to benefit from the forces of digital disruption. Are you ready to transform your business?

Below is a selection of our digital commerce resources.

Selected Resources