What is crucial for the growth of your business - M-Commerce and E-Commerce? You will get to know about it in this article. Let's go.
Gone are the days when people used to window shop on websites and make their purchases offline. The customer of today is well-armed with technology. They see, they compare, and then decide to pay for what is worth their hard-earned dollar.
What once was a window shopping portal, has now thrived into a full-fledged money-making business. Yes! We are talking about eCommerce, the ecosystem that changed the way people interacts with the product.
People are no longer into the shackles of conservative ideologies and this is being the sole motivation for businesses to have a web and app presence.
But again, technology has played its part and smartphones today, commemorating the web, are being the first-choice for the users. This is when the concept of M-Commerce is getting established in the mindset of people and more search is made in terms of M-Commerce App Development.
If you take a look at the stats, people are using more web and mobile than ever before and this trend is a long-term game. No matter how exceptional products you have in your inventory, if you don’t reach out to your customers, your inventory is just going to be a pile.
The good news?
It is the right time to take your retail business online, especially when the cost of building an eCommerce website and M-Commerce app is low.
Understanding the Psychology Behind the Digital Presence
1. User-generated Content
When there is a crowd at a store demanding for products and making a purchase, psychology says that this crowd can attract another number of people. Though this psychology sounds for an offline store, let me show you an analogy.
When people make their purchase online, they rate the product on the portal, talk about it on their Social Media Accounts, write reviews about their experience, and this behavior creates the best marketing strategy, “Word of mouth marketing”.
As a result of the word shared by their peers, people tend to “window shop” on these eCommerce and M-Commerce porta and then it is up to the retailer to convert these leads. The user-generated content connects better with your prospects and better brand recognition is possible.
2. Ease to Business
eCommerce and M-Commerce come with unending scrolls. This keeps the customers engaged on the portal. Moreover, the notifications play their part to keep them coming back to web and app. The channels for marketing opens up including Social Media Platforms, Native advertisements, SMS, email marketing, videos, etc.
This way it becomes easier to have a one-to-one interaction with your customers and know what they need from your business. Using the data from various sources, today it has become easier to offer personalization to the customers, thereby creating better chances of conversion.
Adding to this, eCommerce and M-Commerce comes with features for up-selling and cross-selling the products. The businesses who have a digital presence have an edge over the traditional retail commerce with these ease to business.
3. Ease to Consumers
The tech-savvy customers of today are ready to adopt any technology if their needs are taken care of by online businesses. The customers like to have multiple options before making a buying decision and eCommerce & M-Commerce comes with the very feature!
They have the ease to make their payments online with multiple payment options. Also, the return and exchange policy helps them to get the product of their choice.
With digitization influencing transportation and logistics, it is possible to provide faster delivery. Owing to these factors, more and more customers are getting inclined to shopping online.
How Does eCommerce and M-Commerce Make your Business Easier?
- Personal engagement can be made with direct notifications about new products, offers, discounts.
- M-Commerce helps to understand the preferences of the users better and so, tailor-made offers can be pushed.
- Better reach to a wider pool of people helps reduce your marketing costs.
- Website and especially Mobile App is cheaper to maintain as compared to the traditional brick and mortar store.
- Every product dispatched has a record in the database and loyalty of the customers can be measured with ease using the digital system.
- Better insights about the customers can be fetched by leveraging the data on customer behavior, their buying pattern, their conversion rates, abandonment rates, bounce rate, session rate, etc.
- Inventory hassles are lessened as you can view the product available online by syncing in the app and the clock in real-time.
- Various Social Media Platforms can be leveraged for the promotions, announcements, discounts, sales, and the reach to a larger number of customers can be ensured.
What Does the Future Hold for your Business?
With technology influencing our day-in and day-out activities, it is easy to get a warped visual image of how the future is going to be for the eCommerce and M-Commerce business:
- Same-day delivery can be possible with a digitization playing its role in logistics.
- Drone services will be leveraged for a faster delivery.
- Social-selling will become an inseparable part of M-Commerce and eCommerce.
- AR and VR will enable virtual changing rooms and help customers to make better buying decisions.
- Reach to different far-reaching geographical areas will be possible.
- Data analytical tools will become more efficient with Big data and an enhanced customer experience is possible.
- Personal assistants or conversational commerce in the form of AI chatbots will be seen influencing the buying decisions of the users.
Looking at the trends that eCommerce and M-Commerce has been following since their inception, one thing is for sure - They are not yet to be concluded anytime soon.
The future implementations have started making their way in the existing ecosystem of commerce and will soon be an integral part of M-Commerce.
While digitization has so much to offer to your business, the best decision you can take for your business is to go digital with both eCommerce portal and an M-Commerce application development. More than following the trend of digitization, it is about eCommerce and M-Commerce being a need of your business and this need cannot be unheard if you have big dreams with your business.