Tag: mobile payments

Mobile adoption is driving the growth of the e-commerce market

E-commerce is growing more important to the global market, with the growth of the e-commerce market being driven by the rapid adoption of smartphones and other mobile devices. A new report from OtherLevels, a mobile marketing software developer, has found that marketing in the mobile space is beginning to play a larger role in expanding the e-commerce market. Mobile commerce, in particular, could see significant gains through better marketing techniques.

Report shows that mobile ad spending is on the rise

The report contains data analyzed by Digi-Capital and shows that mobile commerce is expected to become the primary source of mobile revenue for retailers and other businesses by 2017. Consumers applications are expected to generate some $74 billion by 2017, and advertisers are beginning to see these apps as a promising opportunity to engage consumers. The report shows that mobile ad spending will reach $42 billion by 2017. Mobile ads are becoming a very effective way to engage consumers, especially those that would be willing to use their mobile devices to shop for and purchase products online.

Consumers respond better to more engagement

In order for advertisers to effectively engage consumers, they will need to become more adept at timing their campaigns so that they reach those that are in the mood to shop with their mobile devices. OtherLevels examined five test groups, representing certain demographics of mobile shoppers, and found that inconsistent marketing campaigns can inspire disinterest in consumers. The report found that a steady flow of messages from marketers led consumers to use their apps more often and shop at greater frequency. Poorly times messages, however, had the opposite effect.

Mobile marketing continues to prove effective for businesses

Mobile marketing has become a very powerful tool for businesses due to the large number of consumers that have come to rely on their smartphones and tablets to shop online. Better marketing strategies may ensure that businesses have the ability to properly engage mobile consumers, who have shown themselves to be somewhat fickle when it comes to connecting with companies.

According to a new report, the large financial institutions are falling behind with the latest tech.

Despite the fact that mobile banking and payments are right at our doorstep and are being used at an increasing rate, in Canada, almost half of all banking execs don’t believe that they have the IT systems, infrastructure, and processes in place to be able to meet present – let alone future – customer needs and expectations over their smartphones.

The report was entitled “Banks: Customers Expect That You’re Always On and Available, Are You Ready?”

The report was made by CenturyLink and it pointed out that even some of the central services still require better IT. It pointed out that when it come to mobile banking and technology, about 40 percent of C-level financial execs who were surveyed didn’t feel that the IT infrastructure was in place for meeting the basic banking service needs to the level of customer expectations. CenturyLink’s managing director of financial services, Roji Oommen, said that “To stay competitive in a technology-driven marketplace, Canadian banks must be both financial institutions and mobile technology innovators.”

While mobile banking may not yet be keeping up with technology, it’s not that the resources aren’t out there.

The hope that CenturyLink certainly has from the insight in this report is that the banks will see that it and companies like it area already offering the types of services that will help those financial institutions to get themselves on the right path. These strategic technology partners do actually have the potential to spot the mobile tech solutions that are needed and to help in their integration – if not implement them on behalf of those Canadian banks.

The report also determined that 78 percent of banking execs in the country felt that customer demand for improved mobile banking and technology based services would cause them to be required to do more outsourcing. It stated that when those execs were asked about what parts of their IT are currently being outsourced, 86 percent said that they did so for IT infrastructure requirements, while another 72 percent said that they were outsourcing for their IT security.