If you’re an entrepreneur or the manager of a business, it’s always important to spend time on a regular basis learning about the latest advances in technology which continue to change the way organizations sell to, interact with, and follow-up with customers.
As we have seen time and again, new tech doesn’t just destroy or create whole industries, but also leads to new and improved products and services, better processes for customers and businesses alike, and more information and power in consumers’ hands than ever before.
One piece of tech that has really changed the face of the retail sector and many others is the smartphone. In today’s market, shoppers regularly use their internet-enabled cells to research information, shop and pay for goods, interact with businesses, and receive personally-customized information. In turn, organizations now have better ways of marketing and selling to shoppers at a variety of touchpoints, as well as much more data about what people are looking for and how and when they like to shop.
If you want to rev up your business this year, mobile payments and marketing methods can really help you to do so. Read on for three key ways that you can make use of smartphones and related apps for your venture today.
Accept Mobile Payments
The first, most obvious, thing to do for your business when it comes to mobile is to start accepting payments via mobile devices. There are multiple benefits to doing this. For starters, doing so allows you to increase sales because you can process transactions anywhere, and at any time.
Rather than being confined to completing transactions through your typical point-of-sale machine, you can use your smartphone or tablet to accept payments at places such as conferences, markets, in-home consultations, tradeshows, pop-up shops, food trucks, and various events. Mobile payments these days are incredibly affordable for businesses to implement, and don’t require much time or effort at all to set up.
Furthermore, if you integrate mobile payments into your firm’s operations, you will find that you not only have a broader range of customers to sell to, but that you can also increase your conversion rate. This is because so many consumers these days prefer to pay by card or using mobile wallets and platforms (such as PayPal, Apple Pay, Square, and PayAnywhere) rather than cash. By catering to this demand, you can quickly increase your revenue.
Mobile payment options also come in really handy in traditional store environments such as retail outlets and hospitality firms (like cafes and restaurants) during peak periods. By adding smartphone payments to your operations, you don’t have to keep customers waiting in long lines to pay. You can therefore process more transactions every hour, turnover more payments, and keep customers happier because they get to finish up their transactions sooner rather than later.
Your firm’s marketing can also be bettered by using mobile information to your advantage. Now, because of the development of mobile technology, you can market to both current and potential clients more easily by making use of the information and applications that are available to you.
Loyalty programs are a prime example of this. While these are used by many businesses as a marketing and sales tactic, they often aren’t as effective as they could be due to the fact that most shoppers struggle to keep track of their key-ring tags, punch cards, shopper dockets, and other loyalty devices, and as such don’t end up remembering to, or being able to, accumulate points, discounts and other rewards.
With mobile payment systems and marketing apps though, it is much easier and more convenient for consumers to enjoy the added value that should come with a loyalty program, and for firms to get more repeat business as a result.
Today, loyalty information can be stored and tracked directly through mobile applications when people purchase using smartphone applications, which means that shoppers don’t have to worry about having loyalty info with them. This then means that customers will be more likely to return to a store again and again, because they can enjoy a seamless loyalty experience with “no mess, no fuss.”
Provide More Comprehensive Customer Service and Fulfilment
Lastly, companies can also provide better customer service and fulfilment when they take advantage of mobile apps. For example, using “product locator” mobile technology, customers can find what they’re looking for much more quickly when they’re in stores, or find out about stock levels and other helpful information. As well, mobile apps can give customers suggestions about other items they might like or provide detailed information on products they’re browsing.
Fulfilment can be enhanced too through mobile apps, because the tech makes it simpler for businesses to track inventory levels and to take note of shopping trends. Firms can see at a glance which products are selling best during a particular period, and can increase or relocate stock to better suit the needs of shoppers as a result.