The Internet changed business profoundly because it took away geographic boundaries for sales. Mobile eCommerce takes this one step further. People no longer have to sit at a computer to compare prices and make buying decisions — they can do it on the go and while shopping at a physical store. Businesses can take advantage of this new customer lifestyle by implementing mobile eCommerce initiatives, and this goes beyond simply having an app or mobile website.
Adopting Mobile eCommerce in Business
Image via Flickr by Jason Howie
Despite the obvious benefits, many businesses have been reluctant to invest in mobile eCommerce. They don’t think it offers a good return on their investment because mobile shoppers lean towards larger sites like Amazon and eBay. However, this will change in a few short years as more businesses adopt mobile eCommerce and customer trust in the process grows. According to Marketing Land, mobile eCommerce will reach $50 billion by the end of 2014. Businesses that are slow to adopt mobile eCommerce will have a tougher time competing in 2016 and beyond.
Overcoming the Security Concerns of Mobile eCommerce
Security was the initial concern when buying things on the Internet became possible. With time, however, people came to realize that there is hardly any more risk to buying something online than handing over a credit card at a restaurant. Yes, fraud happens, but overall, security is not a major issue with eCommerce or mobile eCommerce.
People still have to put in a pin number to use a credit card and go through a payment processor. As long as a mobile eCommerce site uses a reputable payment processor, there is nothing to worry about. According to Search Engine Watch, 30 percent of eCommerce traffic in 2013 came from mobile devices. That shows the growing trend and more and more businesses will start to follow suit with mobile eCommerce moves.
Orienting Mobile eCommerce Goals Around Price
Of course, businesses must understand that price is the driving force behind mobile eCommerce sales before they can take full advantage of it. Price is more important than anything because customers pull out their phones in store and on the go to compare prices before making buying decisions. If a purchase isn’t urgent, customers sometimes opt to use mobile eCommerce to buy what they want and have it shipped to their home to save a few bucks.
Typically, the only reason online items lose out is if the shipping costs make them more expensive or customers need an item instantly. So, mobile eCommerce is important in growing a business, but only if you’re able to compete on price. People will always value good service, but most people base their buying decisions on price.
There are all sorts of apps people use to compare prices, with barcode scanners at the top of the list. However, there are also several comparison websites that customers turn to on their mobile devices. If you do not have a mobile eCommerce site, the least you can do is make sure that your products and services show up in these barcode and price comparison searches. If you’re able to offer the lowest price, your business will benefit.
In order to keep your prices as attractive as possible, do a little comparison shopping of your own to keep business expenses low. Since utilities are among your company’s primary bills, you should compare rates through a website like powerexperts.co.uk.
Enticing Mobile eCommerce Sales Through Promotions
Another advantage to mobile eCommerce is that it’s easier to target customers based on their buying history. For instance, if someone buys a video game system from an online retailer, that online retailer can then send coupons and advertisements to the customer’s mobile device for video games. When a person buys a video game system at a physical store, the store can’t market video games to that customer as easily. The huge growth of mobile eCommerce is thanks in part to the ability it gives businesses to promote themselves via timely text messages and other coummunication.
It’s obvious that mobile eCommerce is a powerful force for businesses and customers alike. Make sure your company does what it can now to develop mobile eCommerce initiatives so they can continue to effectively compete in the marketplace in the coming years.
About the Author : Teddy Hunt is a freelance content writer with a focus on technology. When not behind a computer, Teddy spends the majority of his free time outdoors, exploring the Tampa Bay area, where he currently resides