If you haven't yet jumped on board the mobile commerce train, now is the time. As a business owner, you must meet your customers wherever they are. To be honest, your financial success is dependent on your availability. And where better to meet your customers than on their mobile devices?
We're becoming increasingly reliant on our smartphones and tablets in a technological world awash in apps and games. Because our devices accompany us wherever we go, mCommerce is an excellent way for business owners to increase sales. In 2017, mobile apps accounted for nearly one-third of all online retail sales worldwide. So, exactly what is mobile commerce?
Difference Between mCommerce and eCommerce
The main difference between mCommerce and eCommerce is that e-commerce activities are typically carried out using desktop computers and laptop computers. M-commerce activities are carried out using mobile devices such as smartphones, tablets, PDAs (Personal Digital Assistants), etc.
Understanding Mobile Commerce Strategy
Undoubtedly, the potential for mCommerce markets in the coming years is enormous. According to research, 79 percent of smartphone users placed an order online using their mobile device in the previous six months. This is expected to continue even as the pandemic fades and the world opens up, as trends indicate that many pandemic behaviors, such as online shopping are here to stay in the long run.
As a result, businesses can capitalize on the opportunities presented by mobile-driven online shopping by developing an effective strategy based on current industry trends. If you work in a similar industry, consider these eight trends for an effective mobile commerce strategy:
1. Virtual Reality
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Augmented reality has evolved into an excellent method of utilizing technology to assist online shoppers in virtually 'trying on' or experiencing the products they wish to purchase. IKEA, for example, is using augmented reality to allow customers to use their smartphones to superimpose images from its furniture catalog within their own living rooms, making shopping smarter and more personal.
The 'IKEA Place' app from the Swedish furniture retailer allows customers to virtual place, true-to-scale 3D models in their own space using only their smartphone. If a piece of furniture is determined to be a good fit for the space, it can be purchased easily through IKEA's mobile shopping app.
IKEA is just one example of a company using augmented reality to help its customers with their mobile shopping experiences. Gucci, Wayfair, and Sephora have all invested in augmented reality technology to provide entertainment and inspiration. Virtual reality enhances the online shopping experience by connecting physical retail items to the virtual world, resulting in an integrated online/offline shopping experience. With the AR app market expected to reach $15.5 million this year, now is a great time for brands to invest in AR technology to help them improve their customer experience.
2. One-button Ordering
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Customers must enter personal information such as their name, address, and payment method when shopping online. Entering the same information on every purchase may cause frustration and influence purchase decisions.
It's no surprise, then, that a difficult checkout process accounts for 18% of all cart abandonments. The majority of shopping carts abandoned on mobile commerce apps are due to the inconvenience of entering vital information on a small screen. Cart abandonment rates by device show that mobile sites account for 97 percent of all check-out abandonment, followed by 68 percent abandonment on desktop sites and only 20 percent abandonment on mobile apps. These figures show that ease of use is critical for a positive customer experience.
Because retail apps allow users to securely store their information, allowing repeated orders without entering payment credentials each time, mobile apps have been more successful in reducing abandoned carts than mobile websites. By completing the buying cycle with just one click, one-click ordering via a mobile commerce app provides customers with the convenience of hassle-free shopping. Amazon's one-click process is a prime example of this. It allows customers to either add an item to their cart or purchase it immediately by simply entering their credit card information (CVV number). This feature has changed the game for the eCommerce behemoth. A better checkout design can increase conversions by 35.26 percent for any eCommerce business. Implementing the "one-click" process is one way to accomplish this.
3. Mobile Website Optimization
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Mobile devices have smaller screens that are frequently inconvenient for site searching and navigation. Poor mobile optimization was once a common cause of customer attrition, but with today's focus on user interface (UI) design, this is thankfully becoming obsolete. Brands can increase customer success rates by ensuring that their website and their mCommerce app have a well-designed UI that allows for frictionless search and navigation through the catalog's wide variety of products. Another important aspect of mobile optimization is to make the mobile search easier. Customers prefer to use the search bar to find products when shopping on mobile apps and websites. Smart site search should be used to optimize search results that perfectly match the search terms.
According to an Econsultancy site search analytics study, 4.63 percent of conversions are recorded from visitors who use search, and they contribute approximately 13.8 percent of revenues. Quickly displaying filtered results ensures a positive user experience (UX) on a brand's mobile commerce app or website, resulting in higher conversions and more repeat customers.
4. Progressive Web Applications
Although popular with customers, brand native apps have some drawbacks: they are often difficult to install and consume a lot of mobile data. However, one of the emerging trends this year is the use of progressive web apps. PWAs are a technology that allows users to access a website on their smartphone and use it as an app. PWAs, like traditional smartphone apps, offer users instant updates, push notifications, offline access, and quick loading times.
Starbucks' PWA is a good example of a successful PWA because it allows customers to view the company's menu and place an order on the go, even with an unstable internet connection. PWAs are similar to native apps in this regard, but they take up less space on mobile devices. Integrating PWAs can assist brands in reaching customers by providing fast, simple-to-use technologies that behave like native apps while providing the convenience of mobile-optimized websites.
5. Intelligent Personalization
Personalized marketing aids in customer retention. According to research, 80 percent of customers prefer to buy from a brand that offers personalized experiences. Personalization strategies that are carefully planned and using data with permission can boost customer satisfaction.
Personalization can help brands focus on behavioral segmentation of customers and push preference-based communication. By tracking their target audience's website browsing behavior, brands can collect contextual data, such as location and weather, to create a personalized message for each buyer. Data-driven personalized communication boosts sales conversions by ensuring that each customer receives relevant information at the right time. According to a SmarterHQ consumer survey, 72 percent of customers engage with personalized messaging, and 90 percent are willing to share behavioral data.
6. Voice Shopping
Voice assistants and smart speakers like Google's Siri and Amazon's Alexa have been around since 2011, but voice shopping is gaining traction.
It is expected to grow to $40 billion this year, a massive increase from $2 billion in 2018. Voice search is increasingly used to research products, place orders, and track deliveries. Customers use voice to contact customer service, review and reorder items. Because mobile devices account for 27% of all voice searches, brands must incorporate the feature into their mobile commerce applications. Most online shoppers prefer voice shopping because of its convenience and quick accessibility.
Adding voice search technology to a branded mobile app allows users to ask hyperlocal questions like "coffee shops near me" or "supermarkets near me."
This can also help optimize mobile SEO so that the brand's app and mobile site work in tandem to easily handle local and vocal queries. For example, if a brand's website was built with Squarespace, it can use the SEO checklist to identify and resolve issues. It is also critical to ensure that XML sitemaps are readable by website visitors and search engines and that websites are mobile-optimized to deliver fast load times.
7. Cryptocurrency Payments
Cryptocurrency has exploded in popularity, finally reaching the mainstream in the last year. In 2024, the cryptocurrency market is expected to be worth $1.40 billion. From 2019 to 2024, it is expected to grow at a CAGR of 6.18 percent. Blockchain wallets are set to replace traditional payment methods as cryptocurrency matures. As more customers become interested in crypto payments and the ability to transact on a more regular basis using virtual currencies, businesses are increasingly considering adding the option to their mobile commerce apps to future-proof their offering. Apart from obvious portability, crypto also supports QR codes, making instant digital payments simple. Other factors driving interest in this type of currency include faster transactions, lower costs, anonymity, and improved security. As a result, integrating APIs from a reputable cryptocurrency platform into mobile apps provides brands with a secure and customized wallet that allows them to accept multiple currencies globally and conveniently.
8. Social Business
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Statistics show that as of January 2022, more than half of the world (58.4 percent) – or 4.62 billion people – use social media. 424 million of those users have accessed the internet in the last year. Over 67 percent of mobile phone users worldwide have used social media. Given these statistics, it's clear that social media should be a part of any mobile commerce strategy. Previously, brands used social media to raise brand awareness and drive leads. In today's world, it's common for brands to not only market but also sell directly through social media, hence the rise in social commerce. Because of the popularity of visual social media platforms like Facebook, Instagram, and TikTok, as well as the ease of conversion on these platforms, social commerce has enormous potential. Facebook and Instagram, in particular, now provide shoppable posts, in which brands can tag products in each image and create user-friendly links to click through and shop instantly. Customers can thus discover and shop for their favorite brands on social platforms using their mobile devices. Instagram Shops is an example of a social media platform that has collaborated directly with businesses to create customizable storefronts where collections can be showcased and purchases can be made. A study of Instagram shoppable posts found a 1416 percent increase in traffic and a 20% increase in revenue. Customer engagement and consistent revenue generation ensure that this mobile commerce trend continues to grow in 2022 and beyond.
Create a Responsive Website with Strikingly
To get started, you don't need to know how to code or have a degree in web design. You can use Strikingly to create and personalize your websites because it simplifies editing. The drag-and-drop feature in the Strikingly website editor is useful because it allows you to easily move content, images, and objects around your website. Doesn't it sound fantastic? Strikingly's premier responsive website editor provides a great user experience with modern and mobile responsive website models. Strikingly's website designs are all immediately responsive. It is a user-centric design technique that enables a website to adjust based on user activity and the device, screen size, and platform used to display site information, increasing its responsiveness to its visitors.
Also, Strikingly provides a Simple Store section that you can add to your site and upload your products to sell online directly from the website. This enables anyone to set up and manage their own online store from any location. To allow your customers to complete their purchases online, you can use the Simple Store to add a secure payment gateway to your sites, such as Paypal, Stripe, WeChat Pay, or Alipay. Strikingly, unlike other e-commerce platforms, does not charge any additional transaction fees.
Mobile Commerce is Exploding
The industry is expected to grow as mobile device penetration rises globally. Mobile commerce is the most convenient and efficient shopping process for customers who prefer to shop online from wherever they are by simply tapping their mobile device's screen. As a result, brands that keep up with mCommerce trends are best positioned to provide the best user experience and encourage customer loyalty. Implementing a well-structured mobile commerce strategy can significantly increase ROI.
