Key Advantages of Mobile Commerce for E-commerce Businesses
Posted by Stephen Taylor on November 4th, 2021
Mobile commerce, popularly known as m-commerce, is the way of buying goods or services through mobile devices such as smartphones. It has quickly revolutionized the e-commerce business to the extent that businesses not investing in it are falling way behind the curve. Considering the number of customers currently using mobile devices for shopping, retail businesses need to accommodate their shopping habits through mobile commerce. If the latest mobile commerce trends are to be believed, advertising and shopping via a mobile device have become the latest customer buying pattern. Most business leaders believe that mobile commerce is the next generation of e-commerce.
m-commerce business models primed for rapid expansion during the current pandemic. More consumers have been buying higher volumes of products using their mobile devices as they adapted their lives and shopping habits to handle Coronavirus lockdown restrictions. Forrester estimates that over 75% of retail sales in Asia were made on smartphones in 2020. Experts predict that by the end of this year, mobile commerce sales will account for over half of total e-commerce sales. Also, it is expected to grow at a CAGR of 13.6% to reach UStn by 2024. (Source: Statista)
Even a few years ago, mobile apps were the only option for e-commerce giants like Amazon for advertising. But the scenario has changed completely in the last few years. Due to the challenges associated with mobile apps, brands have begun to explore better options like more dynamic mobile sites and to promote their brands are taking advantage of new-age and cost-effective technologies like moLotus for m-commerce.
If you are an e-commerce business leader wondering whether investing in m-commerce is worth it, here are the key advantages of mobile commerce for your business :
1. Accelerated Buyer Journey
Nowadays, e-commerce brands are grabbing the attention of shoppers on their smartphones and tablets. Superior technologies like moLotus are being used to grab customers’ attention, aiding mobile commerce. With the increasing count of mobile users, e-commerce brands are using the innovative platform to prompt customers to place orders via cart. Thus moLotus is accelerating the buyer’s journey by facilitating the shoppers to easily purchase and convert the casual shoppers into real customers. Studies show that now the number of cases of cart abandonment for e-commerce businesses has drastically reduced with high conversions and sales.
2. Wider Reach and Scalability
Mobile commerce allows e-commerce businesses to enter new global markets that they could never reach before. For retailers, now every individual with a mobile device is a potential customer, and such a massive customer base offers multiple opportunities for generating leads. Campaigns triggered by platforms like moLotus offer greater reach and global scalability leading to more selling opportunities for e-commerce brands. Via moLotus, they can reach millions of customers quickly and at the same time. The spam-free technology instantly delivers automated messages to the customer databases directly into their inbox opening up more mobile e-commerce opportunities than mobile apps.
3. Real-Time Customer Interaction
Mobile commerce encourages real-time customer interaction and paves the path for more retail sales. Research reveals that New-age customers can easily ‘hang out with the e-commerce brands via tools like moLotus. E-commerce brands get the opportunity to intrigue and interact more with customers striking more sales on mobile. They can create informative and interactive campaigns with multiple customer response options like SMS, Callback, Click URL, etc. Interestingly, moLotus supports a variety of rich media formats including video, dynamic greetings, brochures, slideshow, and showcase. E-commerce businesses can enhance their customer communication by using pictures, voice-over, and music, creating attractive storyboards, brochures, catalogs, and HQ videos upto 40 sec. in their messages. The end result of these efforts would be more sales!
4. Deep Customer Insights
Knowing customers is critical to the success of an offer. In a traditional retail setting, customers used to walk into a store, buy, and leave. Businesses had no clue as to why they purchased or preferred the product and the factors that influenced their choice. With the advent of mobile commerce, businesses can get answers to the questions in the form of mobile analytics allowing tracking consumer behavior.
More and more e-commerce brands have understood m-commerce and its importance. They are using moLotus to gain valuable knowledge about signals of purchase intent and learn more about the habits and preferences of the target customers and lead generation. The sophistication of moLotus data analytics and deep insights opens the door to increasing sales by reaching customers proactively with personalized offers.
Research reveals that customers are happy with personalized recommendations because they feel that the retail brand is keeping an eye on their preferences. Here lies another advantage of mobile commerce. By analyzing the behavior patterns and individual preferences of customers, retailers can deliver personalized content easily. For instance, special promotions or offers based on the customer’s buying pattern. Next-gen marketing tools like moLotus are the best choice for e-commerce brands that use customer data, AI, and advanced algorithms to precisely hyper-personalized mobile campaigns. This brings in a greater possibility of easy conversions for brands.
6. Brand Awareness & Visibility
A suitable brand awareness campaign plays a crucial role in an e-commerce ecosystem flooded with new brands and new products chasing consumers’ mind-space. Retailers must showcase their newly launched products in front of busy, distracted customers. Mobile advertising platforms like moLotus are assisting them to showcase products yielding awareness and ultimately sales and profits! Interestingly, over 51% of smartphone users have discovered a new brand or product via mobile videos (Source: Shopkick). Interestingly, unique mobile-based brand awareness campaigns powered by moLotus have been considerably yielding sales for several e-commerce brands.
7. Rewards & Offers
Retail customers are mostly on-the-go and difficult to retain. To solve this challenge, retail brands are quickly embracing mobile commerce that goes beyond a focus on bare transactions to include loyalty, engagement, and relationship-building activities. Mobile loyalty campaigns can contribute a lot in terms of e-commerce revenue generation. Research shows that loyal customers readily buy products and services from retailers than new customers. moLotus is fuelling m-commerce growth by delivering hyper-personalized messages to retail customers for special occasions like birthdays, anniversaries, reminders, and festivals that are custom-branded with options for name, greeting, reward, call-to-action for each customer. The brands are sending various reward-based coupons directly to customers’ inboxes. These reward campaigns have enhanced customer loyalty adding to the conversions and sales figures.
8. Real-time Performance Analysis & Tracking
An aspect of m-commerce that is rarely available with traditional commerce is the ability to measure and track results. E-commerce businesses can now utilize varying tools for tracking campaign performance. Using tools like moLotus the brands can not only measure and track performance in real-time but also see the progress of the campaigns enabling better achievement of marketing goals.
It is interesting to watch how global e-commerce brands are resorting to m-commerce, not just because of the pandemic but also because of the new options and opportunities available in the form of breakthrough mobile technologies like moLotus. Retailers are utilizing all the facets of mobile devices with moLotus to enhance customer experience and revenue generation. They are all poised for success!
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About the AuthorStephen Taylor
Joined: August 26th, 2020
Articles Posted: 36
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