Nowadays, every digital commerce platform aims to provide one thing—the best customer experience (CX). We’re in an era where customers will leave you for your competitors after a single unpleasant encounter.
In fact, 73% of customers say CX is the main factor determining whether they buy from a company and are ready to pay more for better experiences.
If you strive to personalize your customer experiences, composable commerce could help you do that, no matter your company’s size. This fully modular commerce approach enables you to utilize the best-in-breed technologies to develop a customized e-commerce tech stack that suits your unique business needs.
Gartner, the leading research and consulting company that coined the phrase “composable commerce,” predicted it would become “the future of business”, and it has!
Why exactly should you migrate to composable commerce? Here are five amazing benefits of composable commerce for businesses.
1. Offers Unlimited Flexibility and Scalability
Composable commerce comes with a modular approach that allows you to change any component of your business platform. If something doesn’t work, you can replace or do away with it. At the same time, you’re free to experiment with various touchpoints to determine those that suit your enterprise as you adapt to market changes.
With composable commerce’s flexibility and autoscaling, your team can be innovative without affecting speed or performance. This means you can release new features quickly to satisfy your clientele’s needs since you only tweak the necessary parts of your system. As a result, this architecture increases customer satisfaction and maximizes sales.
2. Provides an Open Ecosystem
Another perk of composable commerce is it creates an open ecosystem where you can leverage any tools to build your system, whether third-party or custom. Should you outgrow a tool, you can find another more advanced option and take advantage of it to achieve business growth. Consequently, this prevents vendor lock-ins since you’re not limited to using specific products or services.
Vendor lock-ins are a big concern in cloud computing and usually occur when you must pay a fee to use a different vendor or access various services. They require you to move your business software, such as apps, databases, and application programming interfaces (APIs), and sign an agreement with the service provider to settle up later.
If you violate it, you risk setting up everything from scratch, which can be not only challenging but also time-consuming.
But with composable commerce, vendor lock-ins will be the least of your concerns. You’ll have more time and money to funnel toward providing the best products or services, guaranteeing superior quality. The latter will ensure customers are more inclined to purchase your offerings to get value for their money.
3. Reduced Costs
If you use a legacy system to run your business platform, you can attest that maintaining the architecture can be super expensive. Expanding or changing a particular component is nearly impossible, so you must invest in a whole system to fix or replace one part. On top of that, upgrading the platform can easily lead to disruption or performance issues, causing unimaginable losses.
However, a composable commerce platform is more effortless to maintain. If, for instance, you need to upgrade some parts, your team can work on them independently without necessarily disrupting the entire system or investing in upgrades you don’t require.
Furthermore, composable commerce minimizes the cost of hosting and maintaining numerous customizations. Therefore, you won’t have to stress over technical debt; instead, you can spend your resources on providing top-notch services to maximize revenue.
4. Enhances User Experiences
Swapping your monolithic system for a composable tech stack is a surefire way to deliver better digital experiences. With the help of APIs, you can integrate essential microservices into your system to address your customers’ pain points. Additionally, composable commerce allows you to experiment with a plethora of features to determine those that fit your clients’ diverse requirements.
Moreover, composable commerce lets you choose the best-of-breed components, including market automation technologies, to target and personalize customer touchpoints. That makes it easier to recommend various services, depending on your market’s unique preferences or needs. When you offer customized content, your customers feel appreciated, allowing you to earn their loyalty and increase revenue.
5. Improves Business Efficiency
Composable commerce makes running your business more efficient. You’ll have unlimited access to the most advanced tools on the market to perform tasks such as:
- Processing payments
- Managing your workload
- Tracking business performance
- Ensuring all projects are completed promptly
- Evaluating employee performance
When you have your house in order, increasing your enterprise’s profitability will be a piece of cake.
Conclusion
Have you decided to let go of your monolithic architecture to adopt composable commerce? You’re on the right track. With this increasingly popular approach, you can utilize a flexible tech stack to provide world-class customer experiences, increase sales, and future-proof your brand.
We recommend moving your platform’s core components in phases – first addressing your business’ main pain points – to minimize the risk of system disruption.
Again, remember that each company has its unique set of challenges. When migrating to composable commerce, factor in yours to reap all the approach’s benefits. Compose a few APIs into a single layer to create an integrated catalog and guarantee more satisfying product experiences.
And don’t forget to hire qualified professionals who have mastered the ins and outs of composable commerce. Otherwise, you risk inefficiency, overwhelming your current IT team, and spending beyond your budget.
