Mobile Commerce, or m-commerce, which entails the use of wireless handheld devices such as smartphones and tablet computers, has been rapidly growing because it has provided a communications platform for many small to medium sized businesses (SMBs) that do commerce primarily online. It has offered a quick and functional means to conduct mobile-commerce-related services on the go, anytime and anywhere.
Up to today, mobile commerce has been a business solution for having many different apps and mobile Internet services on the go and across a number of platforms, and for loading webpages into a mobile device which has had SMBs actively relying on user-generated content (UGC) and search engine optimization (SEO) services. It has also brought new opportunities for social media-mobile visits and mobile marketing with SMS (short message services), QR (quick response) codes or apps; and for advertisements, with pay-per-click apps, in-app billings to collect mobile payments. In addition, mobile commerce has made an impact for contactless near field communication (NFC) transactions, which has provided consumers the flexibility to do live on-demand requests and offered simplicity and ease to conduct mobile phone shopping and banking services.
The advantages of wireless communication for conducting commerce or business by means of an electronic handheld or carried device has contributed to the widespread adoption of mobile commerce. Consumers are finding it more convenient and accessible to do real time transactions while on the move.
Many SMBs can benefit from mobile commerce. Forrester Research (News - Alert), Inc., a global research and advisory firm, in fact, expects mobile banking to continue to grow. Thus far, mobile commerce has provided affordable and achievable methods like UPC (Universal Product Code) and QR code scanning apps and services for the consumer to pay, buy, and bank; it has also provided a new payment system to be able to use NFC-enabled mobile wallet apps, like Google (News - Alert) Wallet, to make cell phone-based credit card payments. Just by tapping a cell phone to a payment terminal or scanning in barcodes, consumers have a fast and convenient alternative to paying for goods by cash.
The growing trend of m-commerce has made a major impact on customer relationship management (CRM); it has reduced the costs of marketing to send coupons and promotions and it has provided value-rich payment services that can be used now as well as the future.
Mobile commerce is, indeed, a popular type of e-commerce that is evolving as a result of the emerging financial transactions functionality role of mobile devices. It may just be the de facto method of mobile payment services, one day. Thus far, m-commerce has benefited many e-commerce businesses that have optimized their websites to enable mobile payments.
More and more users are buying mobile devices to enable mobile payments and have Internet usage on the go; that’s the reason for the growing trends in mobile commerce. To ensure SMBs are not left behind and missing out in sales, they must not be too overwhelmed with the many opportunities presented by m-commerce, but take the necessary steps to embrace new mobile commerce technology and focus on a mobile initiative, like developing a mobile website and app, for the business, and decide on what mobile devices and platforms in which it wants to support. A mobile commerce solution may just be to leverage existing Web tools to maximize the user experience while proving support for long-term growth. Basically, in order to keep up with today's fast-paced environment and remain a competitive business, SMBs must have implemented techniques, such as making use of QR codes, NFC and UGC for mobile commerce.
Want to learn more about today’s powerful mobile Internet ecosystem? Don't miss the Mobility Tech Conference & Expo, collocated with ITEXPO West 2012 taking place Oct. 2-5 2012, in Austin, TX. Stay in touch with everything happening at Mobility Tech Conference & Expo. Follow us on Twitter.
Edited by Brooke Neuman
Back to Mobile Commerce Insider Home