With the growing capabilities of smartphones and the improvements in mobile broadband it should come as no surprise to learn that m-commerce (mobile commerce) is becoming increasingly popular or that mobile advertising has become more powerful !
New research, conducted by InMobi, shows just how many more people are using their smartphone to shop and conduct financial transactions. Initially, only early adopters were using their mobile or smartphone to make large purchases , but this new study suggests that becoming more prevalent with mainstream users.
The research shows that 71 per cent of respondents studied expect to use m-commerce in the next 12 months, which shows that consumers are generally becoming more trusting of shopping on a smartphone.
Interestingly, 63 per cent of the sample had already used m-commerce in the first quarter of 2012, which is an increase of 9 per cent based on the last quarter of 2011. Of those using m-commerce 47% bought digital goods; 34% bought physical goods; while 26% paid bills and 21% bought services on their mobile.
With the ever-increasing capabilities of smartphones, including huge leaps in browsing and security, we only expect this to grow rapidly over the next year. The advent of 4G, leading to higher speeds and better coverage, could also have a huge influence on the popularity of m-commerce.
It's not just m-commerce which is growing rapidly, because mobile advertising is also benefiting from the increased popularity and capabilities of smartphones. Infact, the mobile platform has quickly becoming a major aspect of any companies marketing strategy !
A survey, also conducted by InMobi, shows that mobile advertising has exactly the same impact as PC advertising when it comes to influencing purchasing decisions. The impact sits at 48% , which is only slightly behind TV which comes in at 55 per cent.
Browsing on smartphones and visiting social network is a huge area of growth and there are massive opportunities for advertisers in these areas. Advertising on smartphones is also likely to reach a very specific target market , which is very well suited to certain types of products such as games, movies and technology-related products.
The smartphone industry is offering some exciting new possibilities for retailers, advertisers and companies across the world and it'll only become more powerful in the next couple of years !