What is M-commerce?
M-commerce refers to mobile commerce, a subset of e-commerce, specifically transactions over mobile devices (smartphones and tablets).
There are three main types of m-commerce:
- Mobile shopping: customers order products online and deliver them to their homes. Examples of companies in the m-commerce space are Amazon, eBay, and Groupon.
- Mobile payment: customers pay for products at physical and online stores through mobile devices. Examples of companies in this space are Google Wallet 1and Paypal.
- Mobile banking: customers access their online banking accounts from mobile devices. JPMorgan Chase, Wells Fargo, and Bank of America are examples of companies in this space.
What is M-commerce used for?
Mobile shopping is gaining popularity as more consumers shop using their mobile devices. It is currently one of the fastest-growing market segments for businesses.
More specifically, it allows businesses to provide customers with mobile device access to products and services via mobile applications. The main benefit for businesses is that it will allow them to use sales opportunities and customer feedback on the go.
It also gives customers the ability to complete transactions using their mobile devices. This can lead to a more seamless way of doing business, allowing businesses to provide consistently high-quality service and products.
M-commerce is sometimes also used to refer to mobile marketing and advertising efforts, such as using text messaging, email, push notifications, and other methods of sending advertisements directly to a smartphone for viewing.
What is other term similar to M-commerce?
E-commerce is a type of electronic business that consists primarily of the buying and selling of goods or services over the Internet. eCommerce is carried out with the help of electronic commerce technologies and includes aspects such as international trade, logistics, and order fulfillment.
This type of online commerce is the process of buying and selling products or services over the Internet, while M-commerce is the process of buying and selling products or services using mobile devices (smartphones and tablets).
How to optimize your website for M-commerce
1. Optimize your site for speed
Highly engaged mobile customers will expect an incredibly fast site or app. M-commerce will only be effective if it is easy to use and fast. To ensure that your mobile checkout page is quick, you will want to organize your products by category so that users can find what they are looking for quickly and efficiently.
2. Take advantage of mobile payment capabilities
Today, there are millions of people who use their smartphones as their primary method of payment. With companies like Paypal and Google’s new mobile payment system, you can take advantage of these emerging trends by offering customers the ability to pay for products with a simple click or touch. These mobile-only payment options are convenient for both you and your customers.
3. Make it easy for customers to connect with you
Whether your customers are buying from you, donating to you, or simply interested in learning more about your services, always make it easy for them to connect with you. Give them the ability to get in touch with you from every step of their journey.
If they find product information on your mobile site, give them a way to purchase it directly from there. And if they can’t find what they are looking for, advise them on how and where to get additional information and help.
4. Provide customers with the ability to share products with friends
Mobile-only users are likelier to share news, stories, and products than desktop-only consumers. This makes mobile technology an ideal way to market products and gain more customers.
When you create a highly engaging mobile site or app, you should make it easy for customers to spread the word about your business. Give them the ability to “like” your product on Facebook or send it to a friend via text message.
5. Stay informed about emerging technologies and think about how you can take advantage of them
As technology moves forward, so will m-commerce. Pay attention to what is going on in the m-commerce space and make sure you are ready by being prepared to implement new technologies when they become available. Today, many mobile technologies can help you cut costs and increase profits for your business.