With the advent of the Internet, long gone are the days of making unbelievably long queues at the bank, your favorite shopping mall, or at the convenience store in order to make a payment or a purchase. The Internet opened up the world of e-commerce and this has taken the world by storm. The way in which we did business has changed drastically, and those who did not catch on the trend were left behind.
The beautiful thing about technology is that it is never stagnant and just when something has caught on, another pops up even better and more efficient. Just when we are settling with the idea of shopping from our sofas with simply a laptop, the world of M-commerce emerged.
The smartphone
M-commerce is making transaction through your mobile phone. M-commerce has been enabled by the popularity of the smartphone. Almost everyone now owns a smartphone, and this is now the ultimate marketing and business strategy. By introducing numerous versatile and creative application that allow one to transact anywhere in the world, the opportunities for business have increased exponentially.
It is possible to see the future with such invention and what we see in science fiction movies seems to be simply a few years away
Advantages of M-commerce
M-commerce has brought with it numerous benefits to both the entrepreneur and the customer. Setting up a business now, is much easier. You can own an international company with the office in your study with a laptop, smartphone and the Internet.
If not yet convinced why you should get on the bandwagon, get yourself and your employees a smartphone then learn the benefits of m-commerce. A smartphone is no longer a luxury or object of prestige it is a business asset.
1. Increase your market reach
Do the math: the number of people who own smartphones compared to those who have laptops or those who will come into your store is far much greater. Now imagine, by enabling people to access your store via their mobiles, how much more can you gain. If through online shopping you increase the chances of doubling your potential audience, how much more can you get through m-commerce.
2. Convenience
Imagine that each of your sales staff has a smartphone that has a card reader and accepts credit cards. This means that you increase the number of sales. Sometimes people do not buy items not because they do not want them but they want to avoid the queue or the tire of going all the way to the counter.
The modern world has a caliber of people who are extremely private and they would feel happy buying an item within five minutes without anyone looking at their trolley. The easier it is for your customers to buy the higher the sales and profits for you.
3. Flexibility
Mobile applications remove the constant need to have a grounded source of Internet. As long as you have a steady mobile signal, you can conduct your transaction. You are experiencing a power outage, that’s no big deal you can still transact. You do not have a permanent store, you can still transact. The possibilities are endless.
4. Speed
In this rapidly changing world, you need to move along with the speed. Nothing makes work faster than a smartphone. Your customer does not need to queue, the computer hanging does not hinder you, the slow sales agents at the point of sale are a thing of the past. Just take the card swipe tap on the button and voila, the transaction is complete. It is that easy. The faster you serve your customers the happier they are and you can even go home early. After all, you have exceeded your limits.
5. Increases opportunities
Make your website accessible to mobile phones and increase your sales rapidly. Say for example you own a store dealing in men’s clothing, a customer in the mall is on their iPhone and they enter or pass near a store selling men’s watches. Instantly an advert pops up telling them of the lovely offers your store has for them. Chances are if they are buying a watch, they will want to see some clothes.
Market segmentation is now easier and better. With a versatile website once they click on the link, they are directed to your site and because it is mobile compatible within a few minutes of walking, they have bought a few items.
Remember, M-commerce is the direction the world of business is taking so embrace it and incorporate it from how you handle your transactions to your marketing strategies.
Nick Thomas is a finance expert and is of the opinion that M-Commerce can benefit a business greatly if used in the proper manner. His website debtconsolidation.com.au is a good source of information for those seeking help regarding debt, credit and finance advice.