Drake Vala
We are living in a mobile world; there are billions of mobile or personal digital assistants (PDA) users using these instruments to stay connected with the world. The process and implementation of digitization have come with new ideas & soon, it will change the business world. If we consider the current trend, 75% of companies launch mobile apps to attract and engage more users, which allows improving customer experience.
App Annie reports that there is $35 billion in revenue earned from mobile app development companies. We can clearly state that usage of mobile rising radically and m-commerce replacing e-commerce in 2020. M-commerce offers flexibility and convenience to customers. Mobile solutions are the primary driver of digital media and proving that the mobile app is mandatory for the success of the business.
M-Commerce: The Changing Panorama
If we think back, the consumer’s taste and behavior patterns are changing radically. Easy access to internet data make online transactions smooth, from banking to food ordering apps, shopping sites, booking tickets for movie and airline became popular in no time.
We are experiencing digitization, where everything can be stored and accessed in a phone book with high-end features and functionality. Online presence increases brand visibility, and m-commerce has vast potential to grow.
Banking and financial transactions on mobile or any other device invite more customers, chatbot, and 24/7 customer supports to increase ROI. Thus m-commerce is working as a new platform to grow business.
For instance, you are running a travel agency for both retailers and end-users. If you have a mobile application, anyone can book the entire holiday package, including hotel, airfare, and other leisure activities. You can compare as well with another vendor. M-commerce allows travelers to interact with agents without having a personal touch. In the end, Better customer service means satisfied customers and satisfied and happy customers mean more business.
M-commerce Offers Non-tangible Services
M-commerce is about to explore new business opportunities, and credit goes to e-commerce. It involves smart innovations, new technologies, and services. However, m-commerce is different than e-commerce in many terms as we all know mobile phones having different feature sets than desktop applications.
If you are selling SaaS products, m-commerce offers multiple options to reach out to the customer. Management can directly interact with customers via Twitter, email, or any other social platform. With the help of local seo services, you can drive more organic traffic for your eStore.
Other non-tangible goods such as downloads, mobile application, or any digital goods are the example of intangible services. In a digital world, it plays an essential role in the growth of the economy.
Let’s see a few examples like Mobile banking has changed the banking sector. A mobile application performs all your banking related tasks and other relevant transactions. In Nigeria, the majority of transactions are done on phones rather than desktop.
Another relevant example we have that are making bookings and receiving your ticket on mobile, like IRCTC offers m-ticking service.
New Standards For Personalization
Using mobile apps, you can directly interact with end-user and sell your products. It serves many purposes like users can get general information about your company, product price, news feeds, and many more.
One of the most significant advantages of personalization is you can target many customers as you want ad mobile apps to provide your user’s such personal assistance on their fingertips. This boost sale and increase brand value. The push notification feature allows you to interact with the customer closer.
For example, Starbucks successfully keeps customers hooked with its mobile app. The lucrative reward system and online food and drink ordering via app make the customer happy. Eventually, sales also boost from 8-10% at the same time.
Cut Down The Cost And Increase Productivity
Digital advertisements are surpassing traditional methods like television and hoardings. It is practical yet to cut down the cost. Mobile is taking over all sectors, so it is obvious that companies are spending on mobile ads rather than desktop ads.
In India, mobile ads are growing around 15% per annum. Mobile apps save the cost of SMS, brochure, and other expenses. You can directly contact the users by establishing a secure connection using an instant message service. It reduces the workload of employees, as they don’t have to call each user. Instant messaging services target a mass.
Mobile advertising proved to be increasing productivity, and it cut down additional costs. Moreover, online mobile ads provide you detailed insights about customer’s behavior and interests. If it’s done well, there are chances to increase ROI within a short time.
Adds Value To The Consumer
Simply, we can interpret that business is all about to sell products with higher customer satisfaction. M-commerce is the best way to attract customers towards your products.
For many enterprises, it is tough to deliver valuable user experience all the time. M-commerce allows targeting a specific user with a particular product that makes an easy path for customers and providers both.
Adding value to the customers means to educate your customers to purchase your product. For example, send e-mails to your older customers to download your application; this will fill the gap between seller and buyer.
If you want to interact with customers to promote sales, you need to offer them quality service by providing some loyalty programs. There are many companies providing rewards or cashback to new app subscribers. This makes your customers happy to buy products.
Signing Off
The Internet brought a revolution in everyone’s life, and mobile phones are replacing traditional desktops. If you are traveling to another country, you don’t need to carry a desktop everywhere, all the important tasks you can perform via smartphone.
M-commerce will create a massive impact on each sector, like financial, transport, banking, and retails shops. For Gen Z, mobile phones are not used only for surfing, but it is used as digital wallets nowadays. M-commerce is undoubtedly a fresh and new idea that keeps surprising us daily.
Thus we can say that m-commerce is the next big thing and outgrow eCommerce in 2020.
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