M-commerce further revolutionized the e-commerce concept by facilitating trading of products and services anywhere anytime using handheld devices and wireless internet services. It’s not very different from e-commerce, in fact, the only difference is that this kind of trading is done on a hand held devices instead of desktops. It can be best described as placing your shop in a potential customer’s pocket. Read on as we discuss the key elements and factors that make m-commerce a promising technology.
Key elements of M-commerce
- Online stores and mobile internet users form the core of m-commerce.
- Any and every type of products and services can be sold and bought on this platform.
- Electronic payment methods are adopted for secure and speedy payments.
These are the basic elements that lay the building blocks of any m-commerce site. This new way of business keeps the store running as usual round the clock allowing the consumers to place their orders for products or avail services anytime and from anywhere. Secure payment methods have redefined the trust quotient on both the sellers and buyers end making it a complete win-win situation for all.
Factors that make M-commerce a Success
- User Interfaces: Simple, concise and easily readable user interface is beneficial in more than one way. Firstly, simplicity holds the key to efficient sites which ensures that costumers get to navigate with ease and make purchases hassle free. Secondly, easily understandable and to the point sites are costumer’s favourites with high adaptability. Thirdly, simpler designs are easier to fit the smaller Smartphone screens. It keeps the navigation and option selection simple and effective.
- Location-based services: This feature allows reaching out to costumers based on location. In case you operate from multiple locations, you have the option of including store locators that allow the customers to select the store nearest to them.
- Mobile wallets and ATMs: Secure and easy payments are critical for both parties taking part in the transaction. New technologies like mobile wallets and ATMs are front-runners in this realm. Apart from this, there are many other payment methods including the commonly used credit and debit cards and cloud-based token verified payments.
- Secure Transaction: In complete transactions, noncompliance to product or service delivery commitments due to technology issues can put off customers once and for all. This makes security and performance a crucial factor in the smooth running of any m-commerce business.
- Marketing: Advertising on mobile has proved to give higher success rates compared to traditional methods considering the instant option of making the purchase that alternatively would require the customer to make time to visit the stores. Electronic discount coupons and location-based marketing have given m-commerce the much-needed boom.
- Other Value Added Services: Updates to current technologies and new technologies hit the virtual world every day. Develop m-commerce sites with future in view. Minimal updates and minimum storage space requirements are some of the looked out features. Apart from this, compatibility across platforms and making the most of the omnipresent gadget is the key to conquering tomorrow with m-commerce.