Increased Sales linked to Mobile Commerce
Research from the Centre for Economics and Business Research (CEBR) this week revealed that mobile commerce is driving an increase in sales for high street retailers. This comes as consumers make the most of mobile commerce, coupons, vouchers, and the ability to research products on their personal devices. Steve Rothwell, CEO of Eagle Eye, the world leader in mobile coupons and gift vouchers, talks to AppBeat about how mobile is revolutionising the retail world as we know it.
Mobile payments taking centre stage
Mobile payments are the talk of the town for retailers at the moment. This comes as no surprise when you look at the facts – this week’s CEBR report reveals that £1 in every £10 spent is now generated from a mobile channel. The trick for retailers is to implement mobile payments successfully using a specific call to action such as NFC.
What’s more interesting is how the digital and real-world commerce channels are uniting. Take the news from PayPal earlier this year, for example. By making its payment service available in high street stores through the PayPal inStore app it has given consumers a seamless, multichannel shopping experience.In a similar vein, we’ve seen Mobile Money Network’s recent announcement that it has partnered with Universal Music to launch a chain of virtual vinyl stores. Via Pretty Green’s windows, customers use the Simply Tap payment to power digital purchases. Individually, it is a promising time for both the mobile and retail industries, but what’s really exciting is how we’re seeing them join forces.
Apple hit a new sales record with the launch of the iPhone 5 last week, selling 5 million in the first three days. One particularly interesting feature of Apple’s new smartphone is Apple Passbook. This enables any developer to put a coupon, voucher, or gift card into the iPhone and really marks the beginning of the end for paper and plastic based coupons and vouchers. It’s significant that the likes of Apple is seeing the value that mobile technology can bring to retailers, and vice versa.
Boosting customer loyalty with mobile
As increasing numbers of consumers do more with their mobile devices, brands and retailers have an unprecedented opportunity to better understand customer behaviour. Combining mobile technology and digital in store redemption capabilities opens up access to real-time CRM data that is based on consumer activity. This can help brands and retailers deliver more relevant, contextual, personalised communications for a truly engaging customer experience. The collection of real-time data also allows marketers to monitor loyalty programme performance so that they can make better and more responsive decisions that maximise their budget.
What’s going to be big in 2013?
In 2013 we’re likely to see Near Field Communication (NFC) gain momentum. Value added services like coupons, vouchers, and loyalty programmes will drive this, rather than payments and it will be interesting to see whether retailers make the most of this.
Joining the likes of Tesco, John Lewis, Debenhams and M&S, more retailers will roll out in store Wi-Fi. In fact, just this week WHSmith was the latest big brand to join the fold. This will be critical for retailers that want to offer customers a richer brand experience in store and drive sales as it enables then to engage with consumers simultaneously across multiple environments.
Of course, we also expect to see massive growth in mobile couponing, as predicted earlier this year by Juniper. This all contributes to a sea change in the retail industry as we know it. Mobile will be the key component for retailers that want to provide a second-to-none consumer experience. It is going to be a case of survival of the smartest, and it will be interesting to see who fully embraces mobile technology in the coming months in order to secure their place at the top of the food chain.
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Although this infographic is dated back to May 2012, it’s stats are still highly relevant as we enter the age of retail mobility.
Remember the key to creating a killer app is produce something that provides value for the customer, creates retention (keep content updated and relevant), and drives reengagement (so you create a relationship with your consumers and when you push out promotional notifications it is more personal and relevant).
Also please please please create a mobile site!
Paul Berney, CMO and MD of the Mobile Marketing Association‘s EMA region discusses the importance of brands considering consumer habits locally and regionally. What works well in one place may not be socially or culturally acceptable in another.
This week Paul Berney explains what some of the key regional differences in consumer habits and attitudes are and what marketers should be aware of and how EMEA differ from other regions around the globe.