M-commerce: Implications of mobile commerce for your brand
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Posted By GraceThanks to the startling statistic that 1.08 million of the world’s 4 billion mobile phones is now a smartphone, more and more customers around the world have the power in their pocket to shop from anywhere, 24/7. Currently 10% of visits to websites are from mobile devices but figures show that mobile commerce, or m-commerce, will overtake desktop browsing by 2014.
The following quote was found from a study into mobile commerce by Harris Interactive on behalf of Tealeaf Technology:
“63 percent of all online adults surveyed said they would be less likely to buy from the same company via other purchase channels if they experienced a problem conducting a mobile transaction.”
With a huge focus on mobile CRM solutions, consumer expectations of mobile services are rising. What does this mean for brands? What should brands be doing to avoid problems with m-commerce transactions?
Firstly, the buying process should be quick, with the shortest route to checkout possible on the least amount of click-through screens. By making sign-up processes easier, through postponement or complete eradication, brands can minimise the risk of basket abandonment on mobile devices.
Sites should invest in mobile optimised browsing with fully functional but condensed content pages that enable easy menu navigation in simple formatting. Finally, m-commerce sites should include image galleries that offer scrollable, swipable or slide-able navigation or even easily playable videos; visuals are key to the m-commerce experience.
The Tealeaf Technology study also revealed that 85% of clients expect their experience on mobile devices to be better or equal to that online at a desktop or laptop. To illustrate this point, we bring you companies doing m-commerce well:
- Marks & Spencer topped the recent m-commerce benchmark study from eDigitalResearch for the second time offering condensed but fully-functioning page versions for mobile devices
- John Lewis leapfrogged into the number 2 slot after a sharp focus on m-commerce increased security measures and branding
- ASOS’s incorporation of Facebook into their m-commerce offering allows customers to shop for products without leaving Facebook
- New Look’s revenue increased by 45% as a result of their m-commerce site launched in April, including an 800% increase in site visits
Marks & Spencer's mobile site topped eDigital's Benchmark Mcommerce study
Other e-commerce companies such as Amazon, Google, Ebay (via Paypal) and Apple translate their offer to mobile by offering one-click transactions. While shortening time spent on mobile devices this however requires users to pre-enter credit card details; a factor that some users may not be totally comfortable with.
Derek Eccleston, research director at eDigitalResearch comments on the research findings and future of m-commerce; “Comments indicate that shoppers are less forgiving of bad mobile experiences as they come to expect more and more from the growing possibilities of mobile technology. With the m-commerce revolution in full swing – where the consumer now holds the power to shop when, where and how they want – it has never been more important to provide a seamless mobile customer experience.”
“Our consumer research shows that more and more consumers will be heading onto their mobiles to browse, however far fewer are confident to make a purchase. Top mobile sites therefore need to provide all the functionality, information and details that a mobile consumer needs and expects to encourage them to shop”.
Smartphones and Smarter Shoppers
In reality, customers access m-commerce sites on a spur of the moment; on a whim based on a need at a specific place and time. Brands have to maximise on this need by offering consumers the quickest, hassle free route to what they want. Otherwise, as the study from Harris Interactive on behalf of Tealeaf Technology presents, brand reputation can be damaged discouraging customers from returning, not just to mobile but to the brand’s other purchase channels.
Tags amazon Apple ASOS consumer expectations CRM eDigitalResearch Facebook Google Harris Interactive John Lewis M&S m-commerce Marks & Spencer mobile commerce mobile sites new-look one-click transactions paypal smartphone Tealeaf Technology