What M-Commerce can do your small business?
Technology is growing at a fast rate hence businesses will be shaped by new technological advancements. The enormous growth of mobile apps has literally changed the way we do things. From groceries, food, clothing or even booking a taxi ride, there seems to be an app for almost everything. Small and medium sized businesses can take advantage of these advancements to grow their businesses as well as promote their products and services. In this article, we will look at what mobile commerce can do for your small business including the special tips and tricks that make this form of commerce extremely beneficial to SME’s.
What Is M-Commerce?
Mobile commerce or m-commerce is the use of smartphones, iPads, laptop and tablet PCs and other mobile devices that use wireless technology to promote the sale and purchase of goods and services online. The business world today is being shaped by the overwhelming use of lCTs especially the use of smartphones and the internet in general. The number of smartphone users has grown significantly with almost 2.32 billion users by the end of 2017. M-Commerce is fueling the growth of SME’s resulting in a massive increase in sales revenue.
How To Create The Best M-Commerce Experience
The secret to creating the best M-Commerce experience lies in the ability to provide innovative, connected and consistent smartphone experiences through giving customers enough information to help them make an informed purchase decision. SME’s cover a broad segment of the market thus they can benefit from mobile commerce to provide a better consumer experience. Companies are also looking for innovative ways to track and improve their customers’ smartphone experiences by creating mobile customized websites and apps. This ensures that small and medium sized businesses have a wider reach and their products have international exposure.
Benefits Of M-Commerce to SME’s
Smartphone users can now use their phones as personal shopping assistants which means that they can be able to compare prices, scout deals as well as look out for product reviews and ratings which is good news for small and medium sized businesses. SME retailers are able to interact and engage with their customers at a more personal level which will attract them to their shops. Mobile commerce allows consumers to buy products from anywhere as long as there is an internet connection. This also means that SME retailers can conveniently run their business from any location which reduces the need for office space which minimizes the cost of running a business. Infrastructure developments are increasing the reliability and speed of mobile internet which makes m-commerce more efficient.
Although m-commerce generally refers to selling products via mobile devices such as smartphones and laptops, there are several other ways of offering mobile purchasing to consumers. Some of the most common methods involve the use of mobile apps and websites. A mobile website is generally cheaper compared to applications especially when an existing site is used as a template rather than designing a new mobile version. Mobile websites also provide a greater reach since they include all consumers unlike apps that exclude consumers who are on unsupported platforms. Applications on the other hand are specifically designed for use on smartphones which results to better returns for a business since smartphone users are many and have more money.