M-commerce (mobile commerce) refers to purchasing and selling goods and services via wireless handheld devices such as tablets and smartphones. M-commerce is a type of e-commerce in which users can access online shopping platforms without using a desktop computer. The rapid growth of M-commerce in recent years can be attributed to more secure, scalable, and faster content delivery through wireless devices. Here’s what you need to know about M-commerce for advertising.
Use Cases of M-Commerce in Various Industries
- Financial services – Mobile devices are used for mobile banking and brokerage transactions.
- Telecommunications – Handheld and wireless devices help make service changes, pay bills, and review accounts.
- Retail and service – Online stores allow customers to place and pay for orders on the fly.
- Information services – Mobile devices provide access to updates on sports, weather, financial news, traffic, etc.
What Are the Different Types of M-Commerce?
Mobile shopping
App commerce is a subcategory of mobile shopping that involves a transaction within a native app. With it, customers can buy products on apps like Amazon on a mobile device.
Mobile payments
Mobile payments are a fantastic alternative to traditional payment methods like cash, check, credit, and debit cards. They allow users to purchase products in person by using a mobile device. Customers can buy products using digital wallets like Apple, PayPal, and Venmo without needing to pay with cash or swipe a card. Customers also use QR codes to pay for items using their phones. Using mobile payments, users send money directly to the recipient’s cell phone number or bank account.
Mobile banking
Mobile banking is online banking that is optimized for handheld devices. Customers can use it to access accounts and brokerage services, conduct financial transactions, pay bills, and trade stocks. It is usually done through a secure, dedicated app the bank provides. Mobile banking services may use SMS, chatbots, and other conversational app platforms to send alerts and track account activity. Customers can, for example, use the WhatsApp chatbot to view their account balance, transfer funds, and more.
What is the difference between m-commerce and e-commerce?
E-commerce encompasses all forms of online selling and purchasing. M-Commerce is a subset of e-commerce that focuses on mobile devices such as smartphones and tablets.
What are the advantages of m-commerce?
- Capability to reach a more significant number of customers. Your potential audience is limitless with M-commerce. People can visit your store from anywhere simply by downloading the app or browsing the mobile web.
- The customer journey is shorter. Mobile and voice search, social commerce, and one-click ordering make it easier and faster for people to find and buy your products.
- Higher customer engagement. Instead of competing for your customer’s attention through overcrowded channels such as social and email, send a push notification, SMS, or in-app message. Customers expect a complete omnichannel experience, which mobile enables brands to provide.
- A completely customized shopping experience. Data-driven campaigns create uniquely personalized experiences for each user.
- Payment options that are secure and convenient. Customers can transact easily and safely with options such as mobile wallets, one-click ordering, and installation payments.
The Best Advertising Strategies For M-Commerce
Leveraging social media advertising
Aocial media is one of the most practical and effective channels for boosting your brand’s digital presence. The secret to successfully utilizing social media marketing is to choose the social media platform that your audience visits the most. This will help you interact with people who are genuinely interested in your products and services. Take advantage of platforms that are excellent for sharing photos and videos, like Instagram, and those better for sharing business-related content, like Twitter and LinkedIn.
Capitalize on SMS marketing
What better way to promote your services via mobile devices than SMS marketing? As per research, SMS marketing is about eight times more effective than email marketing. In addition, It’s both practical and inexpensive. Some tips to remember when using SMS marketing campaigns:
- Include URLs in your messages to help you get more clicks. Increased click-through rates increase the likelihood that people will view your products, services, and promotions. Making the URLs short makes it easier to share them.
- Never send messages to people who haven’t agreed to receive them: It is preferable to obtain users’ permission before sending them messages about promotions, discounted deals, or new product launches.
You are promoting your products and services via QR codes!
QR Codes are very effective in promoting products and services in mobile commerce. They can offer your potential clients useful information and even direct them to your store. In addition, you can combine QR codes with SMS Marketing campaigns, thus allowing your potential customers to receive messages when they scan your code.
Leveraging email marketing campaigns
Email marketing is an extremely effective tool for mobile commerce. Today, marketers use email marketing more often since people can view emails via their mobile phones at any time of the day. It enables you to easily improve brand awareness, boost credibility, and establish customer loyalty. Advertisers can easily promote new product launches and discounted deals to customers who have already signed up as subscribers to their stores. The best ways to leverage email marketing are:
- User onboarding-it entails sending a welcome email to your prospects and trying to make a good impression on them. It often includes a guide, checklist, or brand welcome messages.
- Emails are fantastic for upselling and cross-selling your products and services. You can send your customers a list of available upgrades and related products.
- Lead nurturing by providing your leads with all the information they require to push them deeper into your sales funnel.
Final Thoughts
Brands are always searching for ways to stay ahead of their rivals, and properly leveraging M-commerce is one effective way of achieving that! Mobile commerce continues to be dominant and is giving e-commerce a run for its money! Get your business on this trending wave of marketing to reach more customers and stay ahead of the competition.