It can't be ignored - mobile marketing is leaving its footprint on the advertising industry and mobile commerce, or m-commerce for short, could be taking the role of the big toe.
While this trend in technology currently appeals to a business-to-consumer market primarily, recent developments have allowed for a more B2B-driven audience to emerge, especially in the realm of mobile payments.
Here are some things to look for as mobile marketing continues its rise.
According to Nielsen, as of January 2012, 46% of all mobile phone users in the United States own a smartphone, which is already up dramatically from 36% in 2011 and 23% in 2010. That means smartphone ownership has doubled in just two years and that the trend is not losing steam! Tablet ownership is expected to double to about 50 million over the course of the year. At this rate, it won't be long before the vast majority of mobile owners adopt a smartphone or tablet into their daily lives. But what does this mean for businesses looking to utilize the success and accessibility of this technology? For one, companies will be able to span a wider reach, whether it's to their client base or maybe even potential partners. Furthermore, we will see the growth of a streamlined business process, allowing for faster communication between parties to satisfy needs accordingly. Lastly, the overall time to place orders or ship products will be significantly reduced, possibly lowering certain transaction costs as well as opening a whole new door of competitive pricing for one's business to consider.
However, like any up-and-coming technological revolution, there are always going to be a few drawbacks. While there will always be disadvantages like the limited use of graphics, limited bandwidth, and small screens limiting types of file and data transfer, many of the main concerns about m-commerce arise on the issue of privacy and how payments can be transferred. Several apps and methods of mobile payments already exist on the market, but there really is no set standard for payments, and different apps can vary between purchases and circumstances. Along with that, with the sheer volume of personal data being added to the Internet every day, it's no wonder that customers and companies alike are concerned about the security of their information as it moves across networks. As time goes on, there will hopefully be an established system for keeping personal and financial information in check.
While the business investment in hardware and infrastructure can be seen as riskier as mobile technologies evolve at an accelerated rate, it's generally a good move for companies to start looking into these methods. Seeing as it isn't going anywhere anytime soon, m-commerce will eventually reach a level of standardization, and the time to learn about its rising potential is now. That way, by the time it becomes more of a regular practice, companies will already have that first foot in the door with their big mobile commerce toe.
