Advancements in mobile commerce-related technologies are changing the way business is done. Its evolution has successfully created new routes for businesses to expand networks in a digital marketplace. Mobile apps are expanding at an incredible rate. From food to shopping to renting a car or even a house, there is an app for everything. There is an abundance of opportunities and SMEs must adapt to take advantage of this.
M-Commerce, also known as mobile commerce, enables online sales and purchases of goods, services and information via mobile devices. It is also considered a sub-set of e-commerce. Despite being relatively new, much like e-commerce, mobile commerce is dominating consumer choices over physical visits to shops. This could be easily related to the unprecedented growth in the use of smartphones and other mobile devices. The expansion in interest and relevance of mobile technology offers opportunities for SMEs to improve their marketing strategies. In addition to marketing, technology is also levelling up the customer experience offered by these businesses.
- Boosts Customer Retention
Utilizing technologies associated with mobile commerce allows businesses to leverage tools like push notifications and live chats that keep the interest of users in the products. These features also enhance communication with consumers further adding to a positive customer experience. Along with these additional features, the technology helps in offering a more personalized experience to the users. This is achieved through data collection and curation of experience based on that.
- Marketing to the Right
M-commerce is a crucial marketing communication tool specifically due to its ability to reach the target audience. The insights from consumer data can be efficiently utilized to customize advertisements according to the demographics. The targeting marketing approach can increase revenue and boost conversion rates.
Utilizing Mobile Commerce as an SME
Adopting new technology is affordable and yet essential for survival in the fiercely competitive business world of today. Enterprises with only physical locations or without an online presence would suffer greatly and might even bear heavy losses in the coming years.
Mobile applications are major in e-commerce. It provides an efficient solution for setting up an online store and engaging users with a fast and comfortable shopping experience. Its significant benefit is in terms of providing an enhanced end-to-end customer experience. It incorporates everything from displaying product information to payment, and purchase completion. A well-designed application can help businesses gain a competitive edge, build loyalty and increase customer retention. Many leading e-commerce businesses have focused promotional messages and marketing on mobile devices for better sales opportunities on a budget. Learn more about the latest mobile technologies and how you can choose the best one for your business from our article about mobile app development technology.
Responsive Website for Mobile Commerce
If you aim to provide optimized content rather than continuous engagement, a responsive website is a much faster solution. It facilitates sharing content and similar shopping experience for both desktop and mobile device users. The scaling up of web design according to screen size maintains a consistent experience for the user. It is also one of the most cost-effective options to leverage the trend of mobile commerce. Apart from a mobile app and a responsive website, you can also opt for PWA which stands for progressive web applications. With PWAs you can leverage the benefits of m-commerce and deliver a mobile app-like user experience. To learn more about PWA check out – Progressive Web Apps (PWA) – a happy medium between web and mobile apps
Social Media Marketplace
Social media is typically a tool for just marketing and promotions by businesses. However, many big social platforms have introduced a marketplace to connect users with businesses and initiate interactions that bring value to businesses. Some platforms have also introduced features that let businesses showcase products on social media. Along with being an effective marketing tool, it is an easy alternative to reach customers and build a brand online. Utilizing used third-party marketplaces and social channels can allow your business to interact with users with buying intent and generate sales leads.
Ready to take your business to new heights with mobile commerce? Talk to WEBSTEP experts and learn about the best m-commerce-based business strategies for you. Adopt highly innovative m-commerce technology to increase your ROI in the digital era.