Adobe, the company that owns Magento, expects nearly 36% of e-commerce sales this holiday season to be made from a smartphone. Those numbers show that more and more people are buying from their phones, and B2B companies are behind their B2C counterparts when it comes to what they offer on mobile.
The hesitation B2B companies feel about adopting mobile commerce comes from the belief that their products and services are too complex to translate onto a small screen. Companies cannot afford to invest in only one channel, especially as younger generations come of age and start buying for their companies. Generation Z, for example, spends an average of four hours and fifteen minutes a day on mobile devices, and 95% of them own a smartphone. In addition, 78% of them consider mobile the most important device for going online, and millennials are not far behind at 74%.
For continued growth, companies need to provide an omnichannel commerce experience — on mobile, online, and offline — that lets customers buy on their own terms and on the platforms they choose.
Mobile commerce is more than buying on your smartphone
When most people think of m-commerce, they assume it is limited to buying goods or services on a mobile device. The purchase is part of the equation, and all the research and browsing a person does on the phone before the purchase is an important part of the mobile commerce experience. Research shows that 80% of B2B buyers are using mobile devices at work, and more than 60% report that mobile devices played a significant role in a recent purchase. If the experience is not optimized for viewing on mobile, consumers are likely to give up and look for the same product elsewhere. It is imperative that the company invest in a mobile experience that offers speed, convenience, and meets customer expectations.
Mastering the art of the B2B mobile commerce experience should be a priority. Below, we go deeper on some of the main capabilities people expect from a mobile commerce experience:
Mobile payments
Research shows that e-commerce merchants with overly complex mobile checkout processes lost approximately US$236 billion a year in potential sales. Giving buyers a payment system that is seamless and convenient lowers the chance of cart abandonment.
Technology and automation have created new opportunities for companies in m-commerce. Today’s consumers want the buying experience to be fast and to require minimal effort. Use the right mobile payment services, such as Magento’s Instant Purchase, to give returning customers a faster checkout through stored payment and shipping information. That kind of one-click capability, where consumers click once to buy and do not have to fill in their information, is a useful addition to a B2B mobile payment offer, especially for customers who reorder the same items again and again. It reduces friction and supports easy, uninterrupted buying.
Get a response
Responsiveness and easy-to-use apps in B2C set a high standard, and those expectations are moving into B2B. Responsive, attractive design in the mobile layout, which personalizes the experience based on browsing and product queries, will help you meet and exceed customer expectations.
On mobile it also matters to take location into account, because it can be a strong indicator of the kinds of activities someone is more willing to complete at that moment. Knowing whether someone is on the move or browsing on a phone in an office can provide context for the right experiences to serve. A customer near one of your showrooms or distribution centers may want to know that a specific item they are browsing is nearby for pickup. Someone at home or in the office, far from a distribution center, may be more likely to browse many products and buy. Personalizing the experience based on the customer’s context will be essential to successful m-commerce experiences.
According to a BCG study, more than 90% of buyers who reported a superior mobile experience said they were more likely to buy again from the same company, compared with 50% who reported poor experiences. If a customer cannot find what they want, or is blocked in some way, they are more likely to leave the site.
Personalize m-commerce
Understanding your customers and personalizing the m-commerce experience will improve the buying process and build a stronger relationship. We already know that a more personalized experience in B2C creates a lift across a variety of metrics, such as conversion rate or average order value.
From a B2B point of view, the right personalized mobile commerce experience will show potential buyers the products and services they are likely to care about. Showing a visitor a personalized home page, based on their Google search query, is something B2B companies have been trying. Smart B2B companies are also personalizing mobile experiences by persona, showing content and experiences tailored to individuals based on their role (think: purchasing versus operations versus marketing) inside an organization.
Payment options should be personalized on mobile as well, giving consumers the chance to pay through their preferred method, whether PayPal, Visa Checkout, invoice, or the ability to enter credit card information.
It is time to become mobile-ready
To become a B2B company with a mobile experience that masters the art of m-commerce, you need to invest time and effort in the change. A company that adopts the power of m-commerce now reduces the risk of missing the moment when B2B buying power shifts from “mostly web” to “all mobile.” That time may be arriving: 5G is coming, and it will change the mobile landscape considerably, accelerating and improving the experiences we can offer customers.
