Mobile commerce strategy: a step-by-step guide

Mobile commerce is the new reality in ecommerce. 76% of US consumers have bought something online on their smartphone. Our mobile phones have become the go-to channel for many things in our lives, including our online shopping. That’s why brands need to prioritize creating a mobile-focused commerce strategy. 

What is mobile commerce? 

Mobile commerce, or m-commerce, is the buying and selling of goods and services through wireless handheld devices like smartphones and tablets. 

It's not just the next big thing; it is the big thing.

Ecommerce experts predict that for mobile commerce in 2024, factors like speed, accessibility, and UX will make or break the success of online eCom stores.

Retail commerce is expected to account for 43.4% of total online com sales in 2023 (Insider Intelligence).

Mobile commerce is a dominant force in the world of retail and service provision, which lets businesses access billions of mobile users worldwide without geographical constraints. Businesses that ignore the potential of m-commerce are essentially leaving money on the table.

Many transactions from personal banking to shopping and bill payments, are being done via mobile devices. The convenience, efficiency, and easy navigation that comes with mobile commerce make it a necessity for businesses to thrive. It allows users to shop anytime, anywhere at their comfort and ease, thereby maximizing business potential and customer engagement.

Mobile commerce allows businesses to gather real-time customer data, which they can use to provide personalized products, services or content. This level of customization improves customer satisfaction and boosts loyalty, which in turn yields higher profits and customer lifetime value.

Three emerging mobile commerce trends

The evolution of m-commerce is full of disruptive trends, transforming how businesses operate. Notable trends include mobile shopping, mobile payments, and location-based services.

1. Mobile shopping, boosted by advancements in AI and VR, offers a highly personalized shopping experience that traditional brick-and-mortar stores can't match. Businesses can provide real-time offers and recommendations based on customers' browsing behavior and preferences, increasing conversion rates and customer loyalty.

2. Mobile payments enable seamless and frictionless transactions, reducing the shopping cart abandonment rate common with traditional online shopping. This also includes solutions that offer buy-now-pay-later options. Some mobile wallet solutions provide an additional layer of security using biometric authentication, enhancing customer trust.

3. Location-based services take personalization to another level by providing offers and notifications based on a user's physical location. These services can lead to improved customer engagement and better conversion rates.

All these trends highlight the changing landscape of commerce, shifting from traditional methods to mobile platforms.

Common mistakes in mobile commerce strategy

Successive waves of advancements in mobile technology have empowered consumers like never before, making them more connected and raising their expectations from brands. Unfortunately, some businesses get trapped in an illusion of effective mobile commerce strategy when, in fact, they're shooting in the dark.

One prominent mistake includes trying to replicate their desktop strategy on mobile – the user behavior and design constraints of mobile devices command a distinct strategy. Some businesses falter because they underestimate the impact of mobile site speed, not realizing that slow page loads result in abandoned carts.

Another mistake is over-complication - business apps that are difficult to navigate frustrate consumers and make them jump ship. Lastly, poorly optimized mobile sites and apps are another critical factor leading businesses off the M-commerce cliff.

Mobile commerce strategy: a step-by-step guide

Here are the 5 key steps to creating your mobile commerce strategy: 

• Know your mobile audience for a personalized experience.

• Optimize for easy and seamless mobile user navigation.

• Strengthen online visibility with effective mobile SEO.

• Offer secure and frictionless mobile payment solutions.

• Drive business profitability by harnessing mobile commerce apps.

Let’s dive into each step. 

Step 1: Understanding your mobile audience

To construct a successful mobile commerce strategy, recognizing your mobile audience is paramount. Each audience group has unique behavior patterns and preferences. Knowing these characteristics empowers you to tailor content, promotions, and the entire shopping experience to align with their requirements, leading to better engagement and purchase completion rates.

Evaluating metrics like location, age, and browsing behavior can be beneficial to understand your audience. 

An additional approach to knowing about your audience is to solicit feedback. Surveys or direct communication can provide valuable insights into what your audience wants.

Step 2: Optimizing for mobile user experience

Having a mobile-optimized website is no longer enough. Instead, businesses must strive towards significant mobile user experience advancements that ensure a fluid shopping journey. Focusing on the simplicity and navigability of your mobile site or app is crucial. Making sure your online store loads quickly, is easy to navigate, and has a simple checkout process can significantly boost customer satisfaction.

Interactive elements like videos, 360-degree product views, or virtual try-ons can elevate the shopping experience. Hand-in-hand with this approach, understanding mobile user context, considering aspects like touch screen navigation and limited screen space, is crucial. 

One way to ensure your pages are mobile-friendly is to build your Shopify pages using a page builder like Instant. In Instant, you can check to see how your pages look in every viewport, and elements are responsive by default. 

Step 3: Implementing a mobile SEO strategy

The exponential increase in mobile usage means that a mobile SEO strategy has become a necessity, not a luxury. High visibility in search engine results is key to generating traffic and attracting potential customers.

Developing a mobile SEO strategy involves tailored keyword optimization for mobile users, designing a responsive website, improving site speed, and ensuring an easy-to-navigate site structure. All these elements contribute to superior search rankings and improved customer engagement.

Use SEO tools to track and measure - keyword rankings, backlinks, and organic traffic, as these are important performance indicators. 

Step 4: Choosing the right mobile payment solutions

Selecting a secure and convenient payment solution is a decisive step toward winning mobile commerce. Businesses should offer diverse payment methods, including mobile wallets, credit cards, direct bank transfers, buy-now-pay-later services, or even cryptocurrencies.

Security is a paramount concern for shoppers. Hence, make sure your chosen solution complies with all necessary safety standards to build trust.

Additionally, Shopify offers many different payment solutions to consider.

Step 5: Leveraging mobile commerce apps 

Utilizing mobile commerce apps can trigger substantial business growth. These platforms offer users a convenient and personalized shopping experience, leading to higher customer loyalty rates.

Businesses can use such apps to send push notifications about new product releases, promotional offers, or tailor content based on user behavior. Additionally, in-app purchase options can simplify transactions, increasing conversion rates.

Future of mobile commerce: What businesses need to know

Mobile commerce, as dynamic as it is already, continues to evolve, taking on newer forms and dimensions. Some plausible trends have started to shape its future.

Firstly, the use of AR and VR technologies in mobile commerce is giving users an immersive shopping experience. Businesses that provide a virtual try-on option or create a digitally interactive shopping environment can create a competitive advantage.

Secondly, voice commerce is another emerging trend that significantly simplifies the shopping process. The popularity of voice assistants like Siri, Alexa, and Google Assistant is a testament to the potential of this technology.

Thirdly, the rise in popularity of social commerce is worth noting. Social media platforms are expanding their e-commerce capabilities, enabling users to shop without leaving the platform, a huge boost for mobile commerce.

Inspecting these emerging trends and technologies and how they are likely to impact mobile commerce. After all, understanding the future is the first step towards harnessing it.

Conclusion

In today's interconnected digital ecosystem, mobile commerce is not only a trend but a significant player. As eCommerce has grown, the role of mobile commerce has simultaneously expanded.

Mobile devices are becoming the primary means of internet access for many consumers globally, indicating that the importance of mobile commerce will continue to rise. Businesses need to adapt to this shift towards mobile or risk losing out on significant sales and customer engagement opportunities.

With mobile commerce, businesses can reach customers on a platform they use every day. Businesses can engage with consumers more effectively by offering targeted promotions and personalized content, driving user engagement and customer loyalty.

In short, mobile commerce is shaping the eCommerce sector and businesses that fail to recognize its importance risk falling behind in today's cut-throat digital landscape. Any corporation that wants to succeed needs to consider m-commerce not as an option but as a core component of their business strategy.