The commercial sector is transforming every day with new technologies and their enhanced implementation for marketing purposes. M-commerce is one of the commercial models that received prominence over a few decades.
It is a comparatively easier tactic than others but can provide more efficiency. In this blog, we shall understand the business model better through its comparison with e-commerce, alongside discussing its best practices.
What is M-Commerce?
M-commerce or mobile commerce denotes the process of selling and buying products over mobile phones. The strategy received prominence, following the high usage of smartphones by the global public.
People nowadays are prone to forgetting their wallets at home, but they always remember to keep their cell phones with them. This ultimately gave rise to the elevated practice of mobile commerce everywhere. There are three common types of this business method-
Mobile banking: This technology assists people in tracking and managing their bank accounts on their mobiles. Online transactions, paying bills, and purchasing items are also done through mobile banking.
Mobile payment: It includes payments through several online interfaces without using credit and debit cards. It allows cashless money transactions at any time and in any situation with internet connectivity.
Mobile shopping: With this type of m-commerce technology, people can shop for products and services on their smartphones.
Best Practices of M-Commerce:
Top practices of m-commerce and mobile commerce trends include the following factors.
Website optimization for mobile usage: Mobile commerce encourages designing mobile-friendly websites and webpages so that the seamless selling-buying process continues within smartphones. Alongside this, ensuring a latency-free experience on the websites is also important.
Personalization: It has become a mandatory element in marketing. In mobile commerce, too, personalization is important to provide customized product catalogues as per the interest of the buyers. People are more inclined toward m-commerce because of its convenience. Personalization, in this context, will help get relevant product suggestions and exciting offers, making their buying experience more flexible.
Mobile SEO: To enhance web visibility for smartphone users, it is crucial to integrate mobile SEO. Not optimizing for SEO can lead to a situation where buyers will fail to locate websites of their interest. It will further increase the website bounce rate.
Mobile-friendly content: Crafting content for cellphone users can boost mobile commerce to major extents. Phones are small devices that require simple, short, and crisp forms of content. Generic content, like other platforms, may not excite mobile users or encourage them to make buying decisions.
Mobile Payment: While buying products online, people look for easier transaction processes. Therefore, online payment options using different interfaces make the purchasing experience more suitable for buyers on mobile phones.
How Is M-Commerce Different Than E-commerce?
Mobile commerce is a segment of e-commerce. The former indicates buying and selling goods over the phone, whereas the latter encourages the buying and selling process on the internet.
Transactions over the internet using any channel can be risky at times, especially on desktop computers. However, m-commerce offers improved security while paying for any product.
Additionally, location tracking can be lengthy in e-commerce, but in mobile commerce, it is easier and quicker.
M-Commerce Advantages:
Convenience: Mobile phones are used by a larger public, and a maximum of them carry their phones regularly. Hence, mobile commerce makes it easier for people to shop and make transactions. It further decreases the need for store visits, which can be hectic at times.
Bigger public: Mobile commerce can be leveraged by a larger public as there are innumerable cellphone users. Because of its high accessibility, buyers find it easier to purchase goods with their smartphones.
Summing Up!
Mobile commerce contributes to increasing customer experience. It is also a better method to extract customer data for personalization. As mobile usage escalates, the scope of growth in m-commerce soars. Therefore, optimizing business models for such selling-buying processes can benefit companies. Follow our other blogs to learn about other marketing methods.
Also Read : All About the Digital Transformation in the Banking Sector
