Mobile commerce is going to be one of the top marketing trends for 2019. Thanks to the mobile devices producing the greatest numbers of sales than ever. Throughout the following article, we shall use several facts and figures to demonstrate the importance of mobile commerce. Moreover, we shall also see how it is set to impact businesses in 2019.
The Past and Present of Mobile Commerce
Experts anticipate mobile commerce to grow to greater heights more than ever. In 2017, mobile commerce accounted for $700bn in revenue, which is more than 300% growth in the last 4 years. One anticipates this figure to continue rising throughout 2019. Consequently, here are a few key figures demonstrating why every business should be focusing on mobile commerce this year.
As you can see from the infographic by Signal boosters UK, 55% of the global population had been predicted to have internet access by the end of 2018. That’s 3.2 billion people, and of those, 2 billion are mobile users. This shows the aforementioned dominance that one expects from mobile commerce to gain through this coming year. According to the Pew Research Centre for internet and technology, in 2018, 77% of Americans owned a smartphone. This is a 42% increase from six years ago. This again demonstrates the importance of mobile commerce.
Meet the Needs of the Speed
The portals nowadays have the addition of faster checkouts. As a result, it will now be easier than ever for mobile commerce to dominate the global marketing world. Time is of the essence to the modern buyer. And therefore, how fast someone is able to check out will likely affect whether they decide to purchase the item.
A website unwelcoming an individual to sign up or register to make a purchase is going to pull crowds. Similarly, enabling auto-fill options, having a progress indication bar in order to maintain the buyer’s attention are going to influence. Moreover, these portals can have security reassurance procedures. These unarguably are all sure-fire ways to increase the speed at which an individual will check out. Forcing the buyer to create an account makes them more likely to abandon their shop. This is because it is an extra step that should not be required when purchasing an item. As previously mentioned, this generation of shoppers has less patience. So, minimizing the number of steps that they need to go through when purchasing a product is vital.
Requirements Other Than Speed for a Thriving Mobile Commerce
The infographic demonstrates that 80% of shoppers have used their phone whilst inside a physical store. Thus, these shoppers check product reviews and compare prices online. Had there been a way to easily order the product to their homes, they could have selected this option. This could have been especially so if the item they are browsing for is something heavy, or difficult to carry. A television or a fridge can be an example of this.
Capitalizing on the modern generation’s laziness is a key marketing tool. This is more so as this way businesses will possibly make more sales via your fast checkout service. Also, minimizing the displayed content when on the checkout page is important. A study found that even a one-second delay in mobile load times can impact conversion rates by up to 20%. This is also an argument as to why companies should invest more money in optimizing checkout page load times.
Mobile commerce sales in 2018 accounted for 34% of total e-commerce sales. This number is always growing. Consequently by 2021, one expects mobile commerce sales to account for over half of total e-commerce transactions. Ensuring that your marketing campaign is suitably adapted for the upcoming shift in e-commerce sales will be vitally important in future marketing.
Make Room for Gaining Proximity
The use of proximity marketing is anticipated to be a key feature in the future of mobile commerce marketing campaigns. Within proximity, marketing is a technique known as ‘beaconing’ which was established in around 2010 but didn’t gain any real traction until 2015, when they were revived by google. Beacons are devices that can send out signals over short distances, allowing vendors to target users within close proximity. Features that beaconing can provide include in-store messaging, loyalty rewards, as well as supplying companies with information such as which times are the most popular trading hours for their store. All of these can be extremely useful tools for vendors if used correctly. With that being said, it is anticipated that proximity marketing will be one of the most exciting trends which drive the future of mobile commerce.
Meeting Other Needs
Following on from one of the more complex trends behind the driving force of mobile commerce to one of the simpler ones, it is important to ensure that all of the key steps to finalizing a purchase are within the ‘thumb zone.’ This is essential to optimize sales and minimize cart abandonment. As mentioned earlier the modern buyer is lazy. If more than one hand is required to complete the payment, this has the potential to cause cart abandonment, and could lose you a sale for the vendor, which means that streamlining the process in ways as simple as having all the key elements on the bottom half of the screen could help the business to make more sales.
As is demonstrated constantly throughout the article, it is vitally important for businesses in the modern era to ensure that they are doing everything they can to optimize their mobile website. Without this optimization, they are potentially losing both sales and customer satisfaction.
Therefore, the Ingredients of the Recipe of Success
Companies that ensure they are using a depth of marketing tools available to them, such as proximity marketing, faster checkouts, and omnichannel strategies are more likely to succeed, based upon the facts showing the future of mobile commerce. More individuals will be using their phones to complete purchases and browse the internet. Hence, to not capitalize on this opportunity could be potentially damaging for any company. The strategies that are now being presented by the experts of marketing are not based on facts and evidence. This consequently suggests that the future of e-commerce does indeed lie with successful mobile commerce marketing, such as one-click checkouts.
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