‘Going mobile,’ this phrase started as a trend that quickly transformed into an absolute necessity for businesses to thrive in the modern-day business scenario. In the beginning, everyone thought that Mobile commerce (M-commerce) was a passing trend that would diminish with time, which didn’t happen. Instead, the utility of the mobile apps stood the test of time majorly because it is customer-friendly and easy to access.
Despite the enormous popularity of mobile apps, businesses don’t pay complete heed in optimizing them, which leads to almost 75% loss of their potential customers. Hence, before jumping on the bandwagon of Mobile commerce, the businesses need to understand its actual usage and how it will help the business firm stand out among its peers.
For Example, Mobile apps for the retail business can skyrocket sales and make you the top leader in an organization’s respective genre. Research reveals that M-commerce will grow to 68% by 2022 as more people shop through their smartphones.
Let’s understand and know about Mobile Commerce in brief and why it matters for the different industries and businesses.
What is Mobile Commerce?
When commercial transactions are done online using wireless mobile or handheld devices, the process is known as mobile commerce or M-commerce. As tablets, smartphones, and various devices act mediums, users buy and sell products, goods, or services online.
With the increased usage of smartphones and mobile devices, retailers say that almost 50% of their business comes through M-commerce. This is because mobile phones help organizations penetrate untapped markets more precisely than websites and other mediums.
Apart from being an evolution of E-commerce, Mobile commerce has provided trigger energy to help specific industries sustain themselves and set up newer ones. They are:
- Mobile Banking
- Money transfers through mobile apps
- E-tickets and boarding passes.
- Mobile marketing and coupon cards
- GPS enabled location-based services
As we want to learn more about M-commerce, it can’t be done without mentioning E-Commerce. Despite having similar buying and selling online and online purchases, there are notable differences between them.
Let’s understand the contrast between E-Commerce and M-Commerce.
M-Commerce vs. E-Commerce
When you go through a natural progression from E-commerce, you get M-commerce. Both the mediums are similar on some fronts, but there are some distinct differences between them.
We know that the e-commerce platform is limited to desktops and websites, whereas with M-commerce, the services can be accessed from virtually anywhere. M-commerce gives the retail business a broader platform to connect with their customers more personalized manner. This can only be done in a scattered way with e-commerce.
Modern-day businesses are highly mobile-driven, and thus it will be beneficial for the business organization to make a Shift from eCommerce to M-Commerce. It can be endless for a business organization. Companies can render more personalized services through M-commerce, giving the
platform a clear upper hand compared to E-commerce.
With M-commerce becoming a vital cog for businesses for the future, it becomes necessary to implement strategies that will enable you to derive optimum benefit from M-commerce.
Here, we will discuss the crucial points that will lead businesses to relieve customers’ pain points consistently.
How to implement a Successful Mobile Commerce Strategy for your Business?
Focus on the Design for better user experience
The content of any application should be mobile-optimized, and for this, the design structure of the content should be given adequate importance. In addition, customer interaction should be kept in mind while designing the UI/UX system of the mobile app. Moreover, complete design testing should be done before rolling off the app in the market as an error-free app will be more successful at the app store.
Dedicated app development
A dedicated mobile app will help firms connect with the users better and provide more personalized services. At TopDevelopers.co, we will render you the list of top eCommerce development companies that will assist the organizations by developing state-of-the-art mobile apps and enhancing the m-commerce platform.
A mobile app that helps consumers enjoy their shopping experience and gives them a chance to have direct interaction with the service provider is essential as far as mobile commerce is concerned.
Push notifications are the key.
The most significant advantage that m-commerce has over e-commerce, as discussed above, is ‘their ability to provide personalized services. Push notifications in mobile commerce will help a great deal if used systematically. The notifications need to be short and impactful as they can drive the consumer straight to the app and increase the chances of conversion.
An excellent push notification strategy can make a great difference to an organization’s overall output. It helps marketers communicate about business and products to the users and convert them into customers. Therefore, a push Notification strategy is essential to improve user engagement and increase conversion rate.
Simplify the given services
Everything you provide to the customers should be easier to understand and free-flowing. Because in today’s business realm, customers have way too many options, and a goldfish’s attention span, thus the simpler, the better. Moreover, don’t forget to pay attention to the cart as researches have shown that mobile carts, if not appropriately designed, are abandoned by almost 97% of the customers.
To enhance m-commerce, don’t clutter the cart section with unwanted and too many options, as those will end up confusing the users. In addition, a simplified checkout process with transparency can help you reduce the shopping cart abandoned rate.
Benefits of opting for M-commerce
Enhanced customer experience
M-commerce makes the overall shopping experience of the customers a hassle-free event and thus enhances their retention rate. In addition to this, the customers can have access to a broader range of products and better competitive pricing, all at their fingertips (literally).
It becomes easier to amalgamate new technologies to enhance the customer experience and keep them hooked for a more extended period with the help of Mobile Commerce. For example, Retailers can boost their business revenue by providing a new shopping experience to their users using the mobile app. Thus, mobile apps are changing the retail industry for the better.
With technologies like Augmented Reality, the service providers can give the users a ‘Real-Life’ shopping experience at their convenience and set their service apart from their peers. For Example, Companies like Ikea and Sephora are using AR technology to increase their user experience, ultimately expressing their mobile commerce business strategy.
Also, messenger apps and chatbots will provide 24*7 assistance to the queries and assist through all the customers’ difficulties.
Rendering multi-channel experience
Through mobile commerce, you can easily employ the multi-channel experience, selling things online and offline in a synchronized manner. Therefore, M-commerce is a pretty handy method as far as cost-effectiveness is concerned.
Omni-channel is all about being with the customers 24*7. And with a mobile app, being omnipresent is easy for business organizations. Mobile commerce will be the much-needed addition that will increase the revenue as it helps businesses find new avenues for comprehensive growth.
Minimal efforts, Maximum results
M-commerce brings the stores to users’ fingertips, which is probably the best advantage of having this platform. It saves users from the dreaded commute and the painstaking task of physically going through the available options.
With the available filters and options according to their choices, the customers can save their time, and for the organization, there is no need to build a brick-and-mortar infrastructure.
The mobile apps escalate the conversion level and thus bring in more money to the business.
What does the future hold?
Mobile commerce is the future. Period! It has all the ingredients to skyrocket business, which is why Mobile commerce is the rising star of the e-commerce industry. As a result, the total spending across the mobile platform globally is expected to reach $740 billion by 2023.
The spectrum of online shopping will evolve as the level of technology will increase. Thus, it has become essential for businesses to adapt to the changing habits of consumers. M-commerce can bring in robust shopping solutions and will be beneficial to escalate the overall business process.