E-commerce is gradually becoming the preferred shopping medium for consumers. In 2023, nearly 21 percent of purchases are expected to happen online, amounting to more than $6.3 billion in total spending. Today’s shoppers can do almost anything on a computer or mobile device: collaborate with co-workers, buy groceries, and even purchase a new car. As a result, the days of going to the mall and walking into a physical store are moving into the rearview mirror in favor of a digital-first experience.
As we’ve seen these shifts in consumers’ preferred purchasing medium, we’ve also seen shifts in their needs and demands. Consumers are busy: they don’t have the time or patience to deal with frustrating, time-consuming purchasing experiences. They want to interact with brands in the channels they prefer, not the other way around. It pays for companies to invest in a seamless customer service experience.
In a 2021 Mitto survey, 65 percent of consumers said they would be more likely to publicly highlight good experiences, as opposed to 29 percent who would report on bad ones. Word-of-mouth marketing is a powerful tool for businesses to drive revenue with cost efficiency. In that same study, however, 71 percent of consumers said it only takes one to three poor customer support experiences to stop using a brand, and 78 percent lost trust in brands that delivered poor customer support.
There’s pressure on brands to digitize and upgrade their business, including their customer support offerings. Otherwise, they risk losing customers and prospects to their competitors. Brands can do this by adopting an omnichannel strategy that ensures consumers can have their questions answered and engage authentically with brands across channels. This articles addresses how businesses can meet consumer needs by adopting the right technology and leveraging mobile commerce (m-commerce).
The Power of Conversation
Imagine if the different parts of our bodies didn’t communicate. Our limbs worked, and we could talk, walk and hear, but the right hand didn’t know what the left hand was doing. Many companies have the same problem with their consumer communication strategies. For example, they use SMS marketing and have a social media presence with targeted advertising, but the different platforms aren’t integrating. When it’s time for a customer to purchase a product, ask a question, or resolve an issue, they often aren’t able to get helpful, efficient service on the platform of their choice, leaving them frustrated and in search of a better experience.
Excellent customer support is a must to maintain brand loyalty as shoppers continue to raise their standards for companies. Seven in 10 customers expect an immediate response from customer support. Brands can only meet and exceed these customer demands by adopting a full omnichannel strategy, which offers a seamless user experience across all touchpoints. The average shopper interacts with brands in 10 or more channels, so it’s critical to have a strategy that cuts through the competition and hits home.
One way to do that is with conversational marketing, which builds authentic relationships in real time across multiple channels. Like conversational commerce, conversational marketing elevates interactions to feel like more than just a transaction, with customized recommendations and helpful guidance throughout the purchasing journey — e.g., an artificial intelligence chatbot that functions just like an engaging sales representative to help a customer find the perfect outfit for an upcoming wedding. Conversational marketing can be a boon for the bottom line. According to Mitto’s Customer Engagement Report, 77 percent of marketers that used SMS tools to reach customers with promotions or offers reported revenue growth over the previous year.
Leveraging the Popularity of Mobile
The average person spends five hours to six hours daily on their phone, and nearly 7 billion people worldwide have smartphones. With this increased reliance on digital devices, m-commerce is quickly becoming the preferred online shopping medium, expected to account for 6.5 percent of total retail sales this year. Brands and consumers can realize myriad benefits in embracing m-commerce:
- Expanded audience: The sheer volume of smartphone users means millions or billions of opportunities to reach consumers and offer a seamless shopping experience.
- Continuous customer support: Following the concept of conversational commerce, consumers and brands can communicate at any time, fostering deeper, more meaningful relationships.
- Elevated customer experience: As discussed earlier, brands have limited opportunities to build brand loyalty because customers have limited patience. An omnichannel strategy improves CX and ensures a more satisfied consumer.
- Preferred payment: Consumers are spoiled for choice regarding payment methods. When brands embrace m-commerce, it puts shoppers in the driver’s seat to choose how they want to pay, whether it’s Apple Pay, cryptocurrency, a traditional credit card, or something else.
Consumers love m-commerce because it makes shopping effortless. There’s no need to drive to a store or fight mall traffic to get what they need and get it fast. Businesses that don’t target prospects and customers where they spend most of their time risk losing valuable revenue. One way to accomplish this is by leveraging social media. It takes an organizational shift to decide, “this is how we’re going to expand business moving forward.” It cannot be a half-hearted effort. Brands must connect to consumers in real time, offering advice and support and integrating a “buy now” button for shoppers to complete the purchase without ever leaving an app.
There’s no successful way forward for modern businesses without embracing an omnichannel strategy bolstered by AI that incorporates the shopping preferences of today’s consumers and meets them where they are. Brands must embrace seamless efficiency today to win tomorrow.
Laura Apel is the senior vice president of marketing at Mitto, a provider of global, omnichannel communications solutions.
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