What does m-commerce have to do with your everyday life? A lot, I’d say. Nowadays, billions of people have at least a smartphone or a tablet and it has become so common to buy clothes, order food and so on through an app.
But what is m-commerce anyway? Simply put, m-commerce is the evolution of e-commerce and it has been changing the way companies do business and communicate with their clients.
Fundamentally, it stands for any business transaction made via mobile devices and its main purpose is to make people’s lives more dynamic and much less complicated.
Now that you are more familiar with the term, we will show you how it works and also how it can benefit your business.
It makes everybody’s life easier
Today, it is almost impossible to imagine living in a world without mobile devices. It definitely makes people’s lives much easier and more convenient.
As long as you have access to the internet, you can make payments, buy your friend a present, order some pizza and much more, without actually going anywhere.
On the other hand, e-commerce requires a computer and sometimes it can be uncomfortable for you to take a laptop around, instead of using a smartphone, for example.
M-commerce is safe
Despite the growth of mobile users worldwide, there are many people out there who still are sort of afraid to do business over the internet, especially when they have to send their credit card numbers to a company they don’t really know.
But recently, some security measures have been added to mobile devices and this is a way to make customers feel more secure to buy something via an app, for example.
Some of these safety measures include biometric authentication (retinal scans, face ID, or even your fingerprints), besides two-factor and multi-level authentication that were already present in e-commerce.
This can be really good and beneficial to your company because the tendency is that more and more people will do mobile transactions.
Much faster purchases
A lot of companies already have a mobile version of their websites but having an app can take any business to another level. Why?
In general, an e-commerce app is 1.5 times faster than a mobile website, especially when loading data and search results. As a consequence, users can proceed to checkout faster.
Additionally, studies show that m-commerce has been growing rapidly and its growth rate is about 30% – 40% a year since 2014.
Amazon, one of the biggest retail apps in the world, is a great example of that. The company raised its customer base from 43 million people in 2015 to 67 million in less than one year through m-commerce app.
Through an e-commerce app, you can pull data from your consumers and offer them content based on their location, preferences, shopping habits, hobbies, interests and much more.
Besides that, it is possible to track how your clients behave and offer them something they actually desire based on their preferences
Generally, it can turn into higher customer engagement and retention, because you are providing them real value.
When you reach your target market faster with your mobile commerce app, you basically reduce marketing costs and make the most out of your campaign.
Not to mention that app development and maintenance cost much less if we compare to e-commerce or some physical stores.
Also, with all the customer data you can pull, it is possible to achieve concrete results by targeting the right audience.
To conclude, we’d like to say that e-commerce is still very important to a lot of businesses but mobile commerce can take your company to another level.
If you want more useful information on how to increase your app’s revenue, talk to one of our mobile specialists.