• Know Your Target M’s in M-Commerce

    Statistics reveal that there has been a disproportionate share in the growth of mobile transactions and usage of smart phones. Plans are undoubtedly very high because entrepreneurs are looking forward to build another m-commerce company worth a billion dollar. It demands utmost attention to know about these groups, their mobile activity and how can they be served in the best possible way. There are 3 countable Ms when one talks about mobile phone customers and these are – multinationals, moms and millennial.

    M-Commerce

    Multinationals
    As per the data revealed by Statista, United States stands 13th in the world when it comes to usage of smart-phones globally. The top four positions were occupied by Singapore, Saudi Arabia, Emirates from United Arab and South Korea. Reports have also revealed that payments have been enhanced to 68% in Kenya for mobile phones. Social Message apps have also gained wide popularity for say, WhatsApp lover’s lies in an abundance followed by WeChat and Kakao users. There are still many nations in the world that has not yet extended their reach to PCs and this has resulted in usability of mobile phones. These trends have been paired up with rapid-rising GDP among nations like Asian Tigers, Africa, BRIC nations and certain parts of Middle East.

    Moms
    It is a well known consumer demographic that accounts 70 percent of the expenditure of house holding in United States. The Boston Consulting Group conducted a survey in 2009 that revealed, Moms are counted as smart phone users. Studies show that 89% of moms always remain with their smart-phones within a distance of arm’s length. Out of which 42% of them are smart-phone users who rise with it. Gamification and entertainment make a good combination. Dot&Bo also enhance shopper engagement. But to attract them giving appropriate time and space is pretty essential and thus constant pinging must be avoided.

    Millennial
    Teenagers and ones in the age group of twenties are mostly engaged with smartphones. This has been made clear with ComScore study. The data also informs that around 81 percent of the millennial within 18-34 possess smart phones in comparison to some 68 percent in the 35-54 age group and 40 percent in the 55+ age group. These younger minds are driving the App Based Services such as dating and fitness and are also a very integral part of mobile retail services. To capture the younger generation, it is vital to capture their imagination, and advertising through Facebook isn’t the best option always. Do something that gets their attention in the very first click. Youngsters are more drawn towards visuals; a reason Snapchat and Instagram has been so popular. Make sure that you put a relevant picture. Lowering the prices is pretty essential to convert them to buyers from shoppers.

     


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