Mobile commerce across the globe is growing at a rapid rate thanks in part to a couple of factors. First off, smartphone adoption rates among consumers are skyrocketing. Secondly, public broadband is increasing across developing countries and is now available in remote and more rural areas. Due to these factors, mobile commerce is increasing all over the world and e-commerce companies have a massive opportunity on their hands to fuel further business growth.
Businesses that haven't integrated mobile payments are simply leaving money on the table. According to comScore research, mobile accounted for 13 percent of digital sales in Q4 2014. That share increased to more than 15 percent for the first quarter of 2015, Internet Retailer reported, citing comScore's Vice President of Marketing and Insights Andrew Lipsman, who spoke at the Internet Retailer Conference and Exhibition in early June.
Converting browsers into buyers on an online retail platform should be a goal for most companies going forward. If a business is currently accepting online payments via mobile device, it should focus on maintaining or improving current conversion rates.
Keeping that in mind, here are three ways online retailers worsen their mobile conversion rates:
- Not optimizing for mobile usage: Consumers want to buy products quickly and easily. Thanks in part to mobile devices, they can do just that. However, e-commerce businesses are making a big mistake by not optimizing their websites for mobile usage. A recent Google study found nearly half of consumer respondents who arrive on a business website that's not working well on mobile take that as an indication of the business not caring. Page load times are a major deterrent in e-commerce, especially on PCs. On mobile, poor functionality is a driver of reduced conversions. By contrast, 74 percent of respondents said they would be more likely to return to a site in the future that has been mobile optimized, hence increasing the chance of increasing conversions. A recent Econsultancy study found 62 percent of businesses that mobile optimized their website had increased sales.
- Overpromotion: E-commerce businesses need to find a balance between being too pushy and not enticing enough. If a business optimizes its website for m-commerce, it's taking a step in the right direction. However, if it's overly salesy and pushes product promotions too much, the consumer may be more inclined to leave. Companies should show users how they can navigate through a mobile site without being pushed to make a purchase right away. An online retailer should have the confidence in its site design and product quality that they don't need to overanxiously suggest a new user buy something immediately. It's important to let the customer make a decision on his or her own time.
- No call to action: It's equally important to not be so passive that the customer has no reason to revisit the website or take further action. A call to action, or something that grabs the user's attention almost instantly, should entice customers to convert. In the case of an e-commerce business, a CTA on a mobile device may appear in the form of a button that takes them directly to a product landing page. Whatever the case may be, companies should make it viewable almost instantly. A recent Go-Globe study found 47 percent of Fortune 500 company websites had a clear call-to-action button that took users 3 seconds or less to see. While businesses shouldn't be pushy with their conversion attempts, they should entice the customer to buy with an easily viewable CTA.
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