Digital Identity is becoming the Foundation of Modern Commerce
There are many challenges and shifts for retailers transitioning to e-commerce. Overnight, you become a global company with potential customers around the world. You must establish relationships with 3PLs and fulfillment centers, rethink your marketing campaigns, and do countless other transformations. Technology has addressed and improved many of these challenges, except for one key hurdle: identity.
For retailers, identity and knowing their customers was never a huge issue, as they could interact with them face-to-face. The employees at these retailers were able to develop a deep relationship with their customers and understood the things their customers valued the most. However, for e-commerce, knowing your customer and their favorite products is much more challenging because everyone on the internet has multiple identities — intentionally or unintentionally.
Catfishing does not just happen on Tinder! Bad actors, such as bots, arbitrageurs, and serial returners, are intentionally attempting to hide their identities because they do not want to get caught by these brands. While, everyday folks like you and I confuse businesses by having multiple email addresses, shipping addresses, and sometimes virtual numbers.
We know the importance of digital identity because we have experienced the expensive and wrong decisions from not knowing our customers. It skewed the data that caused us to incorrectly forecast inventory, waste marketing budgets, impact our brand reputation, and so much more at some of the largest companies in the world (e.g., Nike, Apple, Gucci, Coinbase). We created BotNot because digital identity and knowing your consumers are essential for the success of your business!
Today, we are excited to announce that we have released on the Shopify App Store! We are determined to help brands better understand their consumers and tailor their experience to improve their customer lifetime value, fulfillment times, and profits!
We are just beginning our journey and have so many exciting things coming out over the next couple of weeks. We believe digital identity is becoming the foundation of modern commerce! You will be the first to know, as we believe in transparency and building in public to keep you in lockstep throughout our journey.