Cloud computing has had a tremendous impact on the marketplace, both in the internal business climate and in the buying behavior of consumers. It may sound like a new concept, but cloud computing has existed and been in use since the day users began signing on to Web-based email such as Gmail, Yahoo! or Hotmail. Anyone who has researched, reserved, and purchased airplane tickets and travel accommodations online has also experienced the advantages of cloud computing. The exchange process in the marketplace has become faster and more efficient, now that consumers are only required to have Internet access and a Web-browser to search for and purchase products and services.
Cloud computing solutions require minimal use of software and hardware on a user’s personal computer, and never involves any downloading, installation, or licensing. The computer age and change in communications processes have focused on making purchasing transactions easier, faster, and more convenient, especially to meet the demands of Generation X and Y consumers. For marketing and sales executives, cloud computing solutions have also made retrieving accurate and up-to-the-minute data possible, which can be compiled into reports on-demand. Since sales and marketing executives are able to segment the data using whichever methods are most relevant and useful to their business, sales and marketing initiatives are processed more quickly, and the data can easily be used to formulate sales strategies that target the needs of specific consumers.
Cloud computing solutions have changed the process of shopping and buying. Consumers may now interact with Web-based software to browse and buy products. Consumer activity and information is stored remotely, on the “cloud.” A few clicks is all that’s required in the purchasing process. Consumers now expect this smooth type of transaction in all buying processes. This has furthered the competitive advantages of cloud computing in the marketplace, and has even subsequently created a new market of cloud computing software services to businesses trying to stay on the cutting edge of technology. Amazon.com is a perfect illustration of how cloud computing solutions have advantageously shaped customer relationship management in a way that is mutually beneficial to both the consumer and the business. Consumers can store their personal information – shipping addresses, billing addresses, payment option information, and contact information – and not have to re-enter it every time a purchase is made. Then, the consumer’s purchases are stored in the cloud computing database, and Amazon is able to not only make the purchasing history viewable to the consumer, but can use the data in a way that formulates specific sales strategies. In this age of fast and easy buying behavior, the consumer appreciates that Amazon understands their specific needs, and addresses those needs without pushing general, comprehensive advertising and promotional strategies that do not “speak” to the consumer directly.
In the world of technology, where communication advancements are rapid and are shaping the marketplace and social culture, consumers want the buying process to be convenient and easy. Businesses that do not take advantage of the benefits of cloud computing solutions may lose their competitive edge, since those that are staying up to speed on technological advancements are able to respond to consumer behavior and buying behavior much more quickly. Not only is the buying process faster, but the consumer’s effort of searching for products and services that meet their needs and demands is also thinned because of the capabilities of the data storage systems of cloud computing solutions.
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