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Mobile Commerce – How It Affects Your Business

Wednesday, March 09, 2016   By Mike Reddy

 



At the beginning of the new millennium, e-commerce boomed. Now, with the ever increasing market of smartphones, tablets and other mobile devices, the playing field has altered once again.

And like it or not, mobile commerce has an impact on your business. It's up to you whether the effects are positive or negative.

What is mobile commerce or m-commerce, you ask? Simply put, it is the use of a mobile device to do your banking, pay bills or buy and sell goods online.

M-commerce is not just limited to transactions though. Some non transactional activities consumers carry out include researching a product or service, exploring online catalogues and reading ratings or reviews. And that's just to name a few.

In order to stay competitive, your business needs to deliver a mobile-friendly, easy to navigate m-commerce site no matter your industry. Your current customers and maybe more importantly, your potential customers, are looking for m-commerce options from your business.

M-commerce consumers are engaged, knowledgeable and valuable. Mobile commerce presents huge opportunities for your business through the incorporation of integrated marketing.

Today’s consumers exist in a multi-screen world. With that in mind, to be effective in your industry, you should develop an online marketing strategy. If you have an online strategy in place, now is the time to ramp it up.

Implementing a mobile commerce mindset in your organisation is the ideal way to affect your business in a positive way now and for the future.

Set yourself apart from your competitors. Develop a mobile site (or even an app) with a design that functions optimally on a multitude of devices and is responsive - you’ll be glad you did!


Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.