eCommerce is booming. Buying a product doesn’t necessarily mean needing to jump into the car and drive to the store, fighting off parking for the perfect spot or dealing with the crowds in bustling shopping malls. It is also not necessarily bound to specific hours anymore. While the brick and mortar world may close at 8 or 9 p.m., the eCommerce world is open 24/7, always ready to meet your shopping needs.
Just as eCommerce has continued to boom, mCommerce has been rapidly growing as well. What is mCommerce? Mobile Commerce! Specifically, mCommerce can be eCommerce, but it is specifically shopping on mobile devices, like smart phones or tablets, while eCommerce is shopping on electronic devices, including laptops and desktops, in addition to mobile devices.
According to recent reports, around 1.6 billion people shop from their mobile devices worldwide. By the end of 2017, this will likely reach to over 2 billion people! While, in the past, mobile devices were only used to look up information prior to shopping in-store or on a computer, now purchasing on a mobile device is a common practice. It is estimated to reach 27% of all eCommerce sales by the end of 2018, meaning around 1 out of every 4 dollars spent electronically will be made on a mobile device.
However, we need to be thinking different when it comes to marketing towards mobile devices. During Q4 2016, the average conversion rate for desktops was 4.14%, while smartphones were 1.55%; tablets were in the middle at 3.56%, as many users utilize a tablet to replace a desktop.
The question now remains: how can you best market to your shoppers to interest them in mobile purchases? Is mobile marketing methods different the typical eCommerce methods? We have compiled 5 marketing opportunities to focus on the mCommerce client.
- Building a Mobile Application: When purchasing is simple and housed directly in the app, growing your mCommerce following will be simple. The mobile app revenue is predicted to reach $77 billion this year with 197 billion mobile app downloads. At this rate, companies are missing out on revenue by not jumping into the mobile application trend.
- Location-Based Marketing: A perk of mCommerce is the shopper is constantly on the move. 66% of marketers say that location-based marketing is one of the most exciting mCommerce opportunities. When in-market and loyal shoppers are in range of your shops or are near points of interest, notify them of deals or opportunities to buy! Stay top of mind while they are on the move.
- Mobile Video: Nothing helps the time pass more while traveling than watching videos! Whether one a trip or commuting, videos have grown in popularity and mobile videos are continuing to become more sophisticated. The mobile video market is expected to reach $13 billion by 2020. Invest in unique, creative video content that can catch attention, go viral and keep your brand top of mind.
- Mobile-Only Social Media: Facebook and Twitter aren’t the only social media platforms in the game anymore. Additional platforms, such as Instagram and Snapchat, are incredibly popular and deserve to get notice. Consider utilizing these platforms in your marketing strategy and link to mobile landing pages with special deals for mobile purchases. In addition, ensure that you are driving social media to any mobile apps related to your website. Research has shown only 6% of people use an app after 30 days of download. Ensure you are above the statistic and drive traffic continually to your mobile application.
- Mobile-Optimized Websites: Have you ever visited a website on your phone, saw it was taking too long to load and decide to leave? This could mean losing revenue from interested in-market shoppers. Mobile-optimizing your website may seem like a small task, but it could drive additional revenue due to quick responses and intrigued web surfers.
eCommerce and mCommerce are similar in many ways, but that doesn’t mean there aren’t opportunities to enhance each of its potentials in a unique way. Market to be successful on all platforms and reach as many potential shoppers as possible. Staying with the trends is a full-time job, but we know your company is up for the challenge.
Hivewyre is a forward-thinking programmatic advertising company. Their private data cooperative allows advertisers to share first-party audience data and build targeted campaigns for prospecting new customers based on their competitors’ unconverted shoppers. Hivewyre advertisers have access to fresh, exclusive data that will never be sold to a third party. With over 500 retailers and over 100 million monthly in-market shoppers in our co-op, our distinct advertising strategy allows you to combat rising search engine PPC & PLA costs and the ever-expanding online marketplace growth. In addition to access to the exclusive data, co-op members benefit from full-service account management and detailed reporting of the return from advertising spend. To learn more about Hivewyre, visit www.hivewyre.com.