Continuing along with mobile’s rapid growth, mobile payments continue to grow at a rapid rate. Adyen’s Mobile Payment Index shows 20% of all payment transactions coming from Adyen’s global network are now generated on mobile devices. This is about a 66% increase over 2013 numbers.
“Customers are no longer talking about ‘taking a chance’ in the mobile market like they were a few short years ago,” says Kimber Johnson, Managing Director of Pacific App Design, “Now mobile applications and mobile commerce are an established channel and the focus is on how to improve the quality of the sales channel.”
Additionally, 70% of global merchants now say they are processing mobile payments. As the services grow so do sales. The sale of Digital goods such books and streaming content saw growth of 6.2% according to Adyen.
RTB.com states they have had a 36,000% revenue increase from 2011-2014. Illustrating the growth potential in the mobile marketplace.
“Services created for the mobile market are experiencing huge growth as they mature with the industry,” continues Mr. Johnson, “We are seeing businesses benefit as those services mature. Additional options and improved payment options are helping businesses improve their mobile presence.”
In a recent survey conducted by Contact Solutions, researchers found that mobile shoppers want more contact than many retailers are currently giving them. Based on study results, nearly three-fourths of shoppers said they would use mobile applications that offered a live chat option to users.
The survey points out that many consumers would like more enhanced forms of contact with retailers and brands via mobile channels.
“To start meeting the needs of customers, retailers must develop a strategy that provides consumers with a positive, interactive engagement with the brand,” says Kimber Johnson, Managing Director of Pacific App Design. “While mobile applications have been a great way to access information, retailers need to see apps as more of a two way communication tool.”
The survey goes on to detail other findings that support this conclusion, such as the feeling many shoppers had they can’t solve problems via mobile.
“Proactively acting to offer the shopping experience that consumers are looking for will set brands apart from their competitors,” concludes Mr. Johnson.
In the early years of mobile apps, paid apps generated more revenue for many developers, but over the years we have see a shift. According to data from Distimo, in-app purchases (usually from free apps), are now steering the revenue charge.
Distimo data looks at revenue from the app stores and finds that almost 98 percent of Google Play revenue and 92 percent of Apple App Store revenue that were created from in-app purchases were made from within free apps (November 2013). As recently as the beginning of 2013, both Google’s and Apple’s stores were seeing around 10 percent less revenue from in-app purchases each. Additionally, eMarketer suggests that just over 40 percent of all app revenues will came from in-app purchases in 2013 and that the share will grow to 47.5 percent by 2017.
Over 62 percent of the US population now owns a smartphone with the most logged on to web site being the Google sites at 88 percent reach, followed by Facebook at 84 percent reach. Broken down, comScore reports that as a manufacturer Apple leads the way with a 40 percent OEM marketshare, while Google/Android holds 52 percent of the platform marketplace. Regarding mobile apps, Facebook’s mobile app comes in first, reaching 75 percent of the marketplace.
Swirl Networks just released their recent research about consumer willingness to receive in-store beacon triggered alerts. Swirl’s research points out that 77 percent of consumers are willing to enable their smartphone location data [a requirement for beacon-triggered alerts via mobile application] as long as they received proper value in return.
“Consumers are integrating the mobile experience into their everyday lives more and more every day,” states Pacific App Design’s Managing Director Kimber Johnson. “As long as the experiences are positive for the consumer, we will see them continue to integrate mobile more fully into all of their daily activities.”
Swirl’s study points out that consumers are significantly more likely to share their location information to retailers (65%) than to independent shopping apps or even Google or Facebook.
In conclusion, Kimber Johnson states, “Retailers must be careful with the trust consumers give them and provide alerts that are relevant and have value, if they are not providing that, consumers will quickly discontinue participation in the program.”
User experience is of paramount importance to today’s consumers, so making it easy for them to get the information they need or want is a critical part of today’s mobile experience. If your mobile application‘s users can’t easily find what they are looking for, they will quickly abandon your mobile application. If you offer a positive user experience, making it easy and intuitive for users to navigate your application and find what they are looking for, your brand can engage and potentially convert a greater volume of shoppers or develop a solid user base. There are huge advantages to developing applications with a sound usability strategy and a big risk that if you do not you will be quickly turning away potential customers.
When it comes to retail or online brands, offering access to immediate customer support through tools like mobile chat, brands can quickly and effectively engage and potentially convert a high volume of consumers. There is a big advantage to offering real-time, personalized assistance at a customer’s fingertips. These advantages only just start with increased conversion ratios and go on to include items like reducing overall support costs.
Another key area is personalization. Mobile users generally don’t have the patience to sift through irrelevant information on a mobile application. Therefore it is best to make sure that content is based on the consumer’s location, preferences and history. Making your users dig for relevant info will just send consumers to your competition.
With the amount of time and money that consumers are spending on mobile growing, it is more important that ever to offer well thought out consumer experiences. Better user experiences are helping to fuel the growth of mobile and those that are not offering quality experiences will quickly find that users are flocking to those that are offering what consumers expect.