M-commerce – The Transition from Transaction to Strategy!
Mobile commerce is growing at a rate surpassing almost every forecast over the past 2 years and we are confident this will continue for the foreseeable future.While the volume of M-commerce keeps on rising – up almost 116% in April 2014 versus a year back as per Branding Brand keeping in mind smart phone visits to mobile streamlined sites were up 83.8%, but there’s a whole other world to mobile applications than simply purchasing an item or an administration.
Physical stores versus online retailers
M-commerce is still a tiny rate of the general retails pie, so online retailers still need to view mobiles as a basic part to their general promoting procedure.
Online retailers are flourishing with a huge part of their business originating from smart phones. That is the reason the physical retailers see a greater potential part for versatile applications and m-trade as only one bit of the riddle.
The right M-commerce approach
- Convenient Shopping Across All devices– Thanks to their “carry it anywhere, everywhere” convenience and accessibility, mobile phones are passing laptops and PC’s to become the medium of choice for accessing the web. Mobile shopping based on convenience is happening across the globe in three forms:
Simultaneous Usage: The process of using more than one device at the same time, like a tablet and your laptop or a mobile phone with a computer in a retail store, to complete an activity that could be related or unrelated on both devices like shopping.
Sequential Usage: The process of moving from one device to another at different times to accomplish a task like shopping online from your tablet then finishing your purchase on your mobile phone.
Singular Usage: Using one device to complete an activity online, most common with the use of laptops or mobile devices since many actions are often performed consistently on one device or the other.
In the end, one of your main goals as an owner of an e-commerce store is to offer a simple, enjoyable and easy to navigate experience for your web visitors, especially since 30% of mobile shoppers abandon a transaction if the experience is not optimized for mobile. The more intuitive your store is the easier it is for a shopper to purchase what they were looking for on any device they may currently be using.
- Mobile Re-targeting– Mobile re-targeting, similarly to display advertising on a desktop or laptop computer, serves ads to individuals who have recently visited your website to entice them to return and purchase items they either looked at onsite or checkout the items they placed in their cart. The major difference with mobile re-targeting is that these ads will follow a user on their other devices like their mobile phones or tablets as opposed to just on the laptop or desktop computer.
- Growth of Mobile Payment– There’s many paths to take when it comes to mobile payments as an e-commerce merchant but overall, it is being where the customer is and providing them with easy solutions to their needs. Many customers find mobile payment solutions very effective at quickly completing a purchase and therefore, making mobile commerce all the more profitable for your business.
- Mobile Improves the Retail Shopping Experience– When approaching mobile, many businesses often disregard the connection they can make between their mobile presence and their in-store experience but there’s lots of potential for impactful collaboration. Syncing these two interactions for the customer can help lead to higher sales and long-term loyalty.
- Analytics– To be able to improve the service we need understand how customers are using the service today. Look at the top user flows through the website or app, click-through rates and fall-off rates between pages, understand behaviour differences between web and mobile or mobile web and app and more. The key to analytics is to plan for logging and reporting to be implemented from the start.
This means now, like never before, both etailers and physical retailers must view mobiles as a basic part to their general showcasing technique and see it as a value-based channel. Besides, your portable application needs to give a drawing in and associating mobile application encounter that will position your organization in front of the opposition and keep your dedicated clients returning for additional.