Brick and mortar and even traditional Internet sales will only take you so far in today’s highly competitive business climate. Industry innovators must think progressively when it comes to how goods are marketed physically and digitally and where sales take place.
What is M-commerce?
It is the abbreviation for mobile commerce that generally refers to a sales platform that allows customers to make purchases via their mobile devices.
The mobile marketplace is a global one and one that is growing exponentially each year. In the UK, for instance, 62 percent of the British population uses their smartphones to purchase products. Businesses that do not accommodate mobile phone purchases are missing out on a growing segment of purchases made each day.
The longer you delay making the leap into M-commerce, the more money you leave on the table for your business. These are just a few mobile commerce advantages your business needs to consider.
Mobile Commerce is on the Rise
Current estimates, according to 99 Firms is that mobile phone data usage is expected to increase by 700 percent between 2016 and 2021. Even if businesses only miss out on a small fraction of the rise in mobile commerce, the costs could be substantial. If you’re like most businesses, especially small to mid-sized businesses, you simply can’t afford to miss out on this trend.
Allows You to Offer Better Customer Service
Great customer service is one of the often-lamented casualties of an Internet marketplace. Mobile phone marketing, by contrast, offers businesses the opportunity to make the shopping experience more personal. From text message shipping notifications to answering customer concerns through voice, email, and text; the entire customer service process is easier.
That doesn’t even include things like discounts, coupons, and push notifications that allow customers to make in-app purchases and take advantage of instant promotions and codes for greater savings and better experiences.
Increased Marketing Opportunities
Mobile commerce allows businesses to take advantage of location-based services that allow you to reach out to customers as they walk in the door. An excellent example of this would be Target’s Cartwheel program. As soon as you pull into the parking lot the app activates to notify shoppers of special promotions, load their shopping lists, and even activate coupons they’ve saved via QR codes.
Gather More Data
Collecting customer data when they make purchases via their mobile phones is easier than ever. Your business can collect a wide range of information from the points of navigation customers follow to your website or products and different steps in their purchasing decisions. This isn’t possible when they walk into your store and purchase products and is sometimes more limited when they shop on websites because of privacy protections savvy surfers put into place to block this type of analytics gathering.
Easy to Scale Up or Down
Success is something that ebbs and flows for many mobile marketers. Some campaigns are more effective than others. Some months leave more left over to invest in mobile commerce and marketing activities than others. And sometimes, you want to let things ride a while so you can explore your results and determine whether changes are needed or not. Mobile marketing allows this to happen seamlessly to take advantage of spikes in interest as they rise and fall along the way.
Allows You to Launch Highly Targeted Campaigns
Targeted campaigns involve more than simply getting the timing right. They are about reaching out to the right customers or audience at the right time. Because mobile marketing can be practiced so precisely, at a specific time or for users in a specific location, it allows you to create massively targeted campaigns to your target audience at a moment’s notice.
Convenient for Shoppers
One of the most important reasons that mobile commerce has risen so sharply is the convenience of it all. Customers no longer need to be sitting in front of a computer or walking into a store to make a purchase. Most people walk around with their smartphones. They’re never far away from that. This means they can make purchases at the ball field while riding in a car, or in the middle of a boring business meeting – whenever it is convenient for them to do so – without concerns over forgetting to make the purchase or having time to talk themselves out of it! It’s a huge win for retailers seeking new avenues to facilitate impulse purchases.
Now that you understand the many reasons to consider choosing mobile commerce for your business, the next step is choosing the right Mobile-commerce platforms that offer all the features of M-commerce you desire to meet your needs while serving the needs of your customers best. Choosing wisely eliminates the challenges of M-commerce and positions you for huge sales and greater success.