Mobile Commerce Report
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Mobile Commerce Report

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First we had print, then we had TV, next came the Internet and now we have Mobile. With the innovative technologies being used in the production of smart and sophisticated mobile devices, the scope ...

First we had print, then we had TV, next came the Internet and now we have Mobile. With the innovative technologies being used in the production of smart and sophisticated mobile devices, the scope of mobile commerce has explored at a phenomenal rate, paving the way for new and effective marketing strategies.

We all know that advertising is all about reaching a targeted audience in the most efficient way possible. In other words, at the lowest cost. Considering the rapid increase in the number of people using mobile phones and the growing number of mobile connections all over the world, it’s no surprise that businesses, large and small, are integrating a mobile advertising strategy into their marketing plans.

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Mobile Commerce Report Document Transcript

  • 1. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat Mobilenicheapps.com Page 1
  • 2. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat MOBILENICHEAPPS.COM HECTOR JAYAT Call Us: +52 (656) 683-2995 Email Us: hector.jayat@mobilenicheapps.com Visit Us Online:www.mobilenichepps.com ABOUT OUR COMPANY Mobilenicheapps is a company dedicated to provide mobile marketing solutions to local businesses and even though we can help any local business to go mobile, we specialize in helping Businesses in the RESTAURANT's niche, we offer the design of mobile optimized websites, landing pages, mobile coupon and QR codes campaigns, mobile website hosting and mobile business apps for IOS and Android platforms with only one goal in mind, to help your business grow and increase profits by taking advantage of the new mobile technologies. Our Business is not to sell mobile websites, but to offer solutions to your Business to go mobile fast, cheap and easy in the new mobile era. Mobilenicheapps.com Page 2
  • 3. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat M-Commerce :The New Era of Selling First we had print, then we had TV, next came the Internet and now we have Mobile. With the innovative technologies being used in the production of smart and sophisticated mobile devices, the scope of mobile commerce has explored at a phenomenal rate, paving the way for new and effective marketing strategies. We all know that advertising is all about reaching a targeted audience in the most efficient way possible. In other words, at the lowest cost. Considering the rapid increase in the number of people using mobile phones and the growing number of mobile connections all over the world, it’s no surprise that businesses, large and small, are integrating a mobile advertising strategy into their marketing plans. When you consider that the numbers of mobile phone user surpasses that of TV sets by three times and PC and laptop users, by almost five times, it’s difficult to understand why any business would not be planning a mobile commerce strategy. Despite the size and reach of the market, just above one percent of the total advertising expenditure worldwide goes on mobile advertising. This will no doubt change as advertisers become more aware of the predicted growth trajectory for mobile commerce. The Global Annual Awards Ceremony for mobile advertising predicted a growth of 43% for mobile advertising by 2014. The market will then be worth an astonishing $10 billion and it is still in its infancy. SMS based advertising was the first type of mobile advertising to take off and still accounts for almost ninety per cent of the total revenue of mobile advertising. Other mobile methods include MMS advertising, advertising within mobile games and mobile video clips, full screen mobile advertising in between TV reception by mobile or downloading an application or web page, audio advertisements before or during a telephone based service or as a promotional audio clip etc. Mobilenicheapps.com Page 3
  • 4. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat The effectiveness of mobile advertising can be measured on the number of impressions or views an ad receives and also conversion rates, just as it is with Internet advertising. Currently, there are some guidelines in place for the implementation of mobile advertising by certain international bodies such as Mobile Marketing Association and Interactive Advertising Bureau. These will undoubtedly become more stringent as mobile advertising becomes common place for businesses. The huge advantage that mobile advertising has over other types of advertising is the capability of interacting with the content through the device. Unlike TV and other forms of advertising, mobile advertising engages in real time with the target audience. This is just one of the reasons why businesses are using viral marketing campaigns on mobile devices to engage not only one customer but potentially their entire network of friends, family and colleagues. M-Commerce Is The Future So what exactly is M-commerce? Mobile Commerce is considered to be any type of transaction made online using mobile devices like cell phones, PDAs, tablets etc. and it includes a wide variety of services. From its early form of using only SMS mobile commerce has grown to include varied sophisticated applications and services and the growth profile is predicted to scale new peaks into the near future. During the mid-90s, nobody might have thought of using the neat little hand held devices available during that time for making online payments or for purchasing goods and services online. But back in 1997, the Coco Cola company made a giant leap in customer satisfaction when they linked two of their cola vending machines to SMS from cell phones. Since then there has been an unbelievable growth in mobile commerce with the invention of new and amazing applications and services by the start of this new and exciting millennium. With technology moving so fast it’s hard not to wonder where it’s all going? Mobilenicheapps.com Page 4
  • 5. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat We think nothing now of accessing a varied range of services that would be called mobile commerce, ranging from online purchase of goods and services to online bank payments and bill payments, to online purchase and delivery of information and data and as well as paying for entertainment and downtime when we buy the latest fun app. Products and services available through mobile commerce also known as M-commerce are varied. Think of mobile ticketing and vouchers, content purchase and delivery like games and wall papers, location based services like tracking and monitoring of people and local weather, mobile banking and mobile stock trading and brokerage, widely popular mobile reverse auctions, mobile shopping stores, information services covering almost all the aspects of news including sports and traffic, mobile browsing of the world wide web services using mobile applications and mobile advertising and marketing are to list just a few. There isn’t a single doubt that the future of commerce is going to be dominated by mobile commerce because of our rapidly changing and highly dynamic life style. To add to the fire, there are amazing developments in the invention of innovative and sophisticated technologies and applications that can be incorporated to mobile devices. The arrival of iPhones, tablet computers and smart phones created a favourable twist for the growth of mobile commerce in the recent past. The web browsing applications available these days in these advanced mobile devices are at par with the most advanced browsers. The security aspects of these mobile transactions are also satisfactory avoiding any apprehension in this regard when compared to other available alternatives. Necessity is the mother of all inventions and all of us need the maximum convenience being offered by these advanced technology and services. Nothing can compete with the provided by mobile commerce when it comes to making fast transactions. It’s no surprise that it is estimated that by 2015 the value of goods and services purchased through mobile devices will hit the $119 billion mark. Mobilenicheapps.com Page 5
  • 6. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat Phone shoppers the latest in the shopping trend. It was not so common to use mobile phones for services other than chatting with friends or making business calls until the recent past, but now the purpose of having a mobile phone is not confined to just catching up. A cell phone is an on the go, always at hand access point to the world of global commerce. It can cater for many of daily needs by providing services including financial transactions and online shopping. The latest advancements in the marketing and advertising fields are undoubtedly contributing the rapid growth of shopping through mobile devices. There are many types of mobile applications available that give the convenience of shopping online using just our trusty and compact mobile devices. These applications are being effectively used in mobile marketing by varied forward thinking businesses and stores, many of which are solely online or virtual stores. Amazon, eBay are probably two of the most recognized stores that facilitate online shopping. Key advancement in technologies has contributed to mobile shopping becoming so prolific. The invention of QR codes or quick response codes is just one example. QR codes brought a secure environment for mobile marketing and advertising and also for safe transactions. These codes are being used by most of the mobile applications like Android, iOS, Windows Mobile etc. Social media is also a huge driving force behind phone shoppers and advertising. Since it is an interactive forum where likeminded people are constantly sharing their shopping experiences with each other, the scope of marketing and advertising is enormous. Proximity marketing is also contributing to the huge growth in mobile. It easily allows Mobilenicheapps.com Page 6 businesses to distribute advertising content locally within a particular area or place. These
  • 7. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat distributions could be a conventional broadcast or the most modern specified targeted distribution by means of particular devices present in that location. Leave your wallet at home as mobile banking can see you through all your financial transactions. The age of liquid cash dominating the market has long gone. Plastic money or our credit and debit cards have been ruling in the world of commerce for decades. Now, with the growth of mobile devices, another force is set to dominate. We are now advancing towards another era of mobile banking and commerce where all of our financial transactions and shopping needs will be handled through the compact little device that we hold in your hands. You could argue that we are in fact moving away from a cash economy. Given that we can make transactions using various types of banking such as Premium SMS based mobile transactions, direct mobile billings, mobile web payment etc., it’s not a huge leap to imagine that someday soon, all of our payments will be handled by our mobile devices. Let’s look at an example of how this works in practice. Premium SMS based financial transactions are the most basic and least complicated of mobile payment methods. The user sends an SMS requesting the payment of a particular amount for the purchase of the required goods or service. The service provider charges a premium amount to the phone bill or the online wallet of the customer and in turn sends a confirmation to the merchant indicating the successful payment of the amount concerned. The merchant then releases the particular good or service. It’s so accessible, fast and efficient for everybody. If all of our shopping needs could be handled this way, it’s not difficult to imagine that it could someday replace cash. Mobile web payment is another solution that is being mandated by many mobile network operators. It is the wireless application protocol known as WAP that is being used in this Mobilenicheapps.com Page 7
  • 8. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat service wherein the customer can make use of the web pages or applications downloaded for making a payment. Even though there are huge advantages in using this type of mobile payment, you need to have the assistance of credit or debit cards or online finance solutions unless your operator directly charges the amount in the mobile bill. It can be direct operator billing type or one that includes your credit card or online wallets like PayPal, Amazon etc. Now the services available through mobile commerce are so vast that there is often no needto go to a store. If you can think of it, you can get it done using mobile commerce thanks to the research and development carried out by the major mobile handset manufacturers in providing state of the art and sophisticated modern smart phones. Considering all of our daily necessities and the rapid pace of life, mobile is convenience we wouldn’t want to be without. To ease of being able to buy and sell at our fingertips is driving M-commerce rapidly and faster than any other advertising medium too. Issues like security on transactions might be a concern. But users will overcome these concerns as they did when they first started shopping on the Internet. Businesses and application developers too, will work to increase the security level of the transactions making them more fault proof and reliable. We can expect that the days ahead belong to mobile commerce and more innovations can are on the way. Whatever advertising channels you are using right now, you can know with certainty that the future is going to be in mobile commerce. When users are ready to press the button on their mobile to access a service or complete a purchase, do you want them to press on your button or your competitors? Mobilenicheapps.com Page 8
  • 9. The M-Commerce Revolution Are You Being Left Behind? By Hector Jayat The future is mobile commerce and it’s here now. You need a mobile commerce strategy. Simple. About The Author Hector Jayat is the founder/CEO of Mobilenicheapps.com which specializes in helping local businesses to build a meaningful online mobile presence. He has some years of experience on Electronics, Communications, IT and Test Engineering as well as on Internet and Mobile marketing and web design and android apps development. When he is not marketing a local business, he enjoys teaching on android apps programming to his friends, wife and daughter. Mobilenicheapps.com Page 9