The right solution to small business needs
With improved and greater internet penetration, and with the growth in online sales, mobile commerce or m-commerce is witnessing a huge traction. It’s an opportunity for small and emerging businesses to leverage this trend to their advantage.
By Tejinder Oberoi
M-commerce is a term that describes online sales transactions done using wireless electronic devices such as hand-held computers, mobile phones or laptops. Th is kind of purchase pattern has evolved with the internet boom. In-store purchase is in decline, with people opting for the convenience of online stores. Easy delivery and discounts have further strengthened the shift to a heightened level. Naturally, m-commerce is attracting a larger slice of total sales recorded. It is easy for any organisation – big or small – to cash in on this trend. It is especially true for emerging businesses, which need to opt for intelligent business solutions without the inconvenience of budget fluctuations.
m-commerce benefits small businesses
Boost sales – coupons
One basic way to promote m-commerce is by unleashing the potential of coupons. Th e lure of coupons in customer psychology is very powerful. If played right, it can bring immense profit to your revenue, apart from generating a great buzz. You can even set it up in a way so that a customer gets a coupon the moment she walks into your store.
Be careful of spamming though. No one wants to get a barrage of mails promoting unnecessary deals. Keep the message short and engaging. Push notifications are generally seen as less intrusive because the customer has chosen to download your app, making it a wonderful tool to boost services.
Reward customers through loyalty schemes
Reward your customers through loyalty programmes. For doing a certain amount of purchase, you can opt the customer in for your loyalty programme. In this particular programme, you can provide special discounts, freebies and added benefits to make them feel special. Also,you can enlist “most loyal customers” to be the spokesperson/ambassador. This ensures great word by-mouth publicity.
Open a new avenue for sales
You can build up a simple mobile website, or you can opt for a native app. Keep it basic, keep graphics light, and make it very easy for clients to navigate.This works great for any sort of purchase – goods and services. An interactive website helps, as it keeps the customer engaged. A good user-friendly website ensures larger scale of pay-per-click, leading to a rise in ROI. It is also said that an increase in the number of purchase happens on those websites that are pro-customer and have high customer engagement policies.
Learn about your customers
Apps are essentially flexible. One of their main use is to collect data about your customers. Every customer has a purchase pattern, which can be easily figured out through collation of data. An app can utilise these connections and voluntarily collect valuable information. Also, give your customers an option to set up a profile. On the basis of profile parameters, you can customise the messages and services. This would enhance customer interaction and conversion of mere interest to purchase becomes comprehensive.
There’s a wealth of opportunity to get in touch with your customers, boost sales, and make things easier for everyone through mobile apps. Apps can transform your smartphone into a powerful device. These tiny applications can fulfil almost all sorts of requirements. They enhance end-user involvement, making the device more productive to perform a plethora of general purpose computing operations.
Through m-commerce, businesses can improve their productivity and profitability even without spending too much money. The opportunities are endless, so get onto the bandwagon before it’s too late.
Progressive Grocer, Nov 2016
Mr. Tejinder Oberoi, Founder Director, m1Order