How to adapt to the shift to mobile commerce
For a long time, the rise of mobile marketing has been the darling of tech predictions. Since Mary Meeker, an analyst at Kleiner Perkins Caufield Byers, said in 2008 that "Mobile [will] overtake fixed Internet access by 2014", the world has been waiting for that prediction to hold true. It did, at least by some sources, precisely that same year she said it would.
According to a study by Comcast, in 2014 mobile usage represented 60% of the total time spent online, while desktop-based consumption made up the remaining 40%.
Since the majority of your website visitors come from mobile devices, you need to adapt your digital marketing strategy to take advantage of the…
Chart of the Day: Conversion rates of online shoppers by device and platform
Data based on more than 1.9 billion shopping sessions collected by Monetate, clearly shows 'traditional' (desktop) web users still have conversion rates more than triple that of those browsing on Smartphones.
It is interesting though that tablet e-commerce conversions are only very slightly behind desktop conversion rates. It seems screen size does have an impact on conversions, since people don't want to fill out fiddly payment details on Smartphone screens. This may mean new tools, like chatbots, can change the mobile user experience and make conversion much simpler. By removing the need to complete complex forms they could lead to a big leap in mobile conversion rates in the coming year.
It's also interesting to look at conversion rates by device, where Mac leads with Windows close…
Mobile commerce predicted to reach $250 billion by end of the decade
Mobile commerce is at an inflection point. Whilst over the past few years many have been disappointed by relatively low conversion rates from mobile visits, things will soon turn a corner. A wide array of new apps, innovations and improved experiences mean buying from a mobile device has never been easier, and will only get more so.
Forrester forecast that thanks to the removal of barriers to m-commerce over the next four years, things are going to hot up fast. Purchases from mobile devices will double by 2020 reaching an impressive 250 billion dollars worth of transactions.
So for any marketers out there working for ecommerce sites, you need to make sure your mobile experience is as slick and seamless as possible. And no that doesn't just mean having a mobile responsive site. It means fast load times, simple forms, easy…
Mobile payment search peaked in late 2014. Now the market is maturing.
In the classic new technology hype cycle the key stages defined by Gartner are New Innovation > Inflated Expectations > Disillusionment > Regained confidence > Productivity.
The chart below from Google Trends shows how 3 of the top mobile payment solutions have traversed the hype cycle. Google Wallet and Apple Pay peaked a year or two ago, whilst the mobile payments app Venmo is still gaining traction. Mobile payments are becoming increasingly common and are well on their way to maturity. Having overtaken Google Wallet and being on track to do the same with Apple Pay, Venmo is certainly a provider to watch.
More broadly, marketers should consider how they can capitalise on the increasing popularity of mobile payments. Whether it's streamlining customer journeys or …
New research showing the potential to improve conversion for mobile commerce
We regular update our compilation of retail e-commerce conversion rates from different sources comparing desktop and mobile conversion rates in browsers. In this new piece of research from Netmera, we present conversion rates for mobile apps.
The data shows mobile app conversion performance during 2015. Based on data derived from 50 million app users and from over 50 brands using Netmera services in 2015 and the first 2 months of 2016, this infographic highlights that the use of mobile engagement solutions, like push notifications, in-app pop-ups and automated campaigns, has a significant impact on mobile commerce conversion rates (180% increase in orders over the last year with push notifications).
Take a look at the infographic below to get a better idea of the scale of opportunity that is mobile commerce. Netmera offers services across sectors from retail, financial services and telecoms. Unfortunately these…
Mobile payments are a huge opportunity for marketers. Here is why:
Mobile payments aren’t just a way to process credit and debit card payments; they can offer an inexpensive means to help you reach a wider customer base, and cultivate lasting relationships. Here are a few of the marketing advantages mobile transfers and communications can offer.
Mobile payments and promotions reach customers via the tools they use most often — cellphones and tablets.
When businesses send a letter via direct mail, or advertise in local media, there are a host of unknowns: Will the marketing piece reach the intended recipient? Will it be read? If it does get noticed, will it arrive when the customer wants to purchase what you’re promoting? Most importantly, will the prospect remember your business once he/she is ready to buy?
These variables can be a costly gamble, since they are virtually impossible to control. Mobile marketing campaigns, on the…
Mobile Commerce trends show that mobile will be crucial to your businesses future growth
The unprecedented sales of smartphones and rapid evolution of mobile technology has directly impacted the mobile commerce scenario. Every business today is talking about the spotlight shift to mobile, which has revolutionised the way we research, evaluate and buy today. The Mobile commerce trend is on the rise and is undoubtedly here to stay.
In the early days of the Internet, the companies who were quick to adapt had an edge over their competitors. The scenario is quite similar today. The businesses who have realised the importance of mobile commerce and its impact are garnering loyalty, generating brand lovability, driving up sales and improving customer engagement and retention.
From the customer perspective, mobile commerce growth has delighted the customers who are now enjoying the benefits of mobile; ease, convenience, speed, better access to deals and offers and segment specific attention.
Over 56% of the 18-24 age group are Retail Showrooming
Retailers are embracing how consumers are using their phones and it's more than a browse or research product function with consumers using their phone in store in a variety of ways to price check, access ratings, reviews and promotions - all common 'Retail Showrooming' practices. This research shows the relative popularity of these activities in the UK:
comScore are seeing a similar patten in other countries using their panel. For example, in Germany, as comScore's latest research released from their MMX® Multi-Platform panel shows: 'over 40% of smartphone users are using their phone whilst shopping'.
You can download the full comScore Multiplatform Majority report from their site. Also, look out for our new report from Tery Spatero on crafting the multi-channel retail experience.
What are the main challenges and opportunities of mobile commerce that need to be overcome for mobile sales growth?
Worldwide, B2C ecommerce sales are growing steadily and set to top the $1.5 trillion mark this year, and increasingly significant contributors to this enormous sum are mobile devices.
In Europe, mobile shoppers are set to spend £19.8 billion in 2014, almost twice as much as last year’s spend of £10.7 billion, according to research by RetailMeNot. In the US, the figures are even higher – with eMarketer predicting that US retail mcommerce sales will total $56.72 billion in 2014, up 36.1% from 2013.
Even these figures omit revenues from travel bookings on mobile devices, a sector that is seeing a 50% increase in mobile activity and which it is estimated is worth a further $25 billion.
There’s no escaping the fact that mobile commerce…
Making the case for optimising your mobile site with split-testing
Websites that use split-testing regularly will gain an increasing advantage over their competitors. By steadily increasing their conversion rate, they’re able to get higher returns for the same advertising spend and that means they can invest more in advertising and grow their market share.
Today, split-testing is especially relevant for mobile commerce. We’re at a stage where many companies will have a mobile version of their website that they serve to visitors from smartphone or tablets. But a lack either of focus or understanding of the opportunity means that very few websites are split-testing their mobile sites. And as mobile commerce grows, companies that split-test have a huge advantage.
But mobile conversion optimisation is hard. It forces you to focus on priorities. With limited screen real estate, you need to ensure that your content is well structured, persuasive and accessible.
8 Tips for mobile conversion rate optimisation