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Jim Rudall from MoPowered - The Challenges of Mobile - What to consider when deciding on your strategy?
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The Challenges of Going Mobile
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What to consider when deciding on your strategy.
One America Square
London
5th June 2014
Jim Rudall, Sales Director, MoPowered PLC
Hello…
• The MoPowered PLC story
• M-commerce Challenges
• Key Challenge I – Checkout Abandonment : Monetising Mobile
• Key Challenge II – How do I Future-Proof My Business
• Key Challenge III – Build vs. Buy
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3
The MoPowered PLC story
4
2007 2009 2012 2014+
120 customers across mobile
web/apps/tablet Developed the MoPowered
m-commerce Platform
Additional in-App commerce
functionality
Pioneered Mobile
Banking
“MoBank”
The MoPowered PLC story
Partners with Leading e-commerce Technology Companies
5
120+ retailers on our platform
and over 50 more.
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Mobile Channel Landscape and Challenges
While 55% of UK businesses have a
mobile site or a mobile App.
45% do not!
Anyone heard this before…?!?
• 2008 – this is the year of mobile
• 2009 – THIS is the year of mobile
• 2010 – this IS the year of mobile
• 2011 – this is THE year of mobile
• 2012 – this is the YEAR of mobile
• 2013 – this is the year of MOBILE
• 2014 – this is the year of mobile SHOPPING
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Consumer adoption vs. Mobile Shopping lag Popula
tion
Time
Mobile Adoption
Mobile Shopping
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The Biggest Mobile Commercial Challenges
Mobile
forms a
significant
part of our
traffic
We feel
we need to
address
the issue
quickly
There is
little or no
CAPEX
available for
development
Tough to
define a
business
case for
investment
Any
investment
needs to
deliver
an ROI
How can
I test and
learn in a
cost effective
way
What’s the
best way to
harness the
long term
opportunity
11
Key Challenge I – Monetising the Mobile Channel
• What is my site looking to achieve? Revenue Uplift? Customer Experience? Engagement? Consumption?
• How do I demonstrate an ROI?
• What do I need to address to achieve the above?
In mobile,
you need to
rethink payment
and provide the
best user
experience M-commerce
is set to
quadruple to 2017
Lots of ££ spent on branding & acquiring traffic…
Paid Display Paid Search Affiliate Sponsorship
Earned SEO WOM Buzz Viral
Owned Websites Mobile Blogs Social Accounts
ROI
Traffic acquisition spend
“For every £80 spent on acquisition only £1 is spent on conversion.”
Forrester Research
Low relevance and poor experience produces low:
• Engagement • Conversion rates • Average order value • Retention
3%
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By not having a mobile site retailers are losing traffic they have already paid for
Checkout Leakage
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What is affecting my Conversions on mobile?
97%
Mobile
shopping
basket attrition
rates are
around 97%
15
Understanding the Mobile Channel Business Case
Creating the ROI Business Case
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Q Unique Visitors 944,994
Mobile traffic 13% 122,849
Mobile conversion 0.24%
Average mobile basket £96.82
Mobile sales (current) 294
Current Sales Revenue £28,465
MoPowered Conversion Rate 0.75%
New Uplifted revenue £89,171
Q Incremental revenue £60,706
Bounce Rate on Mobile drops
56% - 41%
AOV on Mobile – uplift of 42%
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Factors that affect success on Mobile
Speed/performance
Navigation
Checkout
• Page weight
• Image size
• Web technology
• Simple/mobile specific
• Task driven
• Quick/text light
• Mobile payment
options
Solve the Problem by Addressing the Issues
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Every
100ms delay
costs
1% of sales
• Turn frustrated browsers into happy buyers through speed and performance improvements
• Develop navigation on mobile which is contextual and follows best practice
• Tailor your checkout to the mobile experience
“There’s a direct correlation
between page load speed and
conversion”
Streamlining Checkout – Fast. Light. Easy
= £££
So much to do so little time…
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Key Objectives: • Increase traffic • Increase conversion rate • Reduce abandonment • Create a great user
experience
What’s the best solution?
Mobile users want different things – information or action
Dedicated mCommerce sites load quickly and convert better
Responsive design allow users to access more content blog and other information but are clunky.
For information / content sites
responsive design is a good approach
Challenge I - Summary
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• Select a partner with demonstrable mobile experience with live “successful” sites
• Ensure any partner is willing to commit to an ROI based on conversion uplift
• Ensure the cost of support and maintenance is in-line with an on-going ROI – no
nasty surprises!
Before Difficult to
view, browse, checkout
After Easy to shop and purchase
How times have changed…
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Key Challenge II – How do I Future-Proof My Business
If possible, leverage off the existing integration / mobile site when building for new devices
The mobile landscape changes rapidly
25
Key Challenge II – How do I Future-Proof My Business
“Development approaches Must accommodate Future
scenarios…”
“Mobile application experiences demand a more tailored approach,
one that is unique to mobile phones…”
eBusiness pros Need a Five-year plan..
“Delivering Convenience Means Mobile experiences Must
diverge From Those on PC…”
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The Sophistication Of Mobile Services Will Evolve
Key Challenge II – How do I Future-Proof My Business
NFC
Heartbeat
Service Availability
QR Codes
Uptime
MI
Vouchers
Messaging
CMS
Data Access Layer
Business logic
HMTL rendering/device API
A truly modular architecture, delivers across mobile
CLIENT
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iBeacon
Summary
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• Ensure whatever solution you select allows you to test and learn
• Be thinking mobile first but always with the mind that mobile is a separate channel
• A mobile specific approach will ensure you make the best of the opportunity and are prepared for what’s round the corner
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Key Challenge III – Build vs. Buy
The Age-Old Question
Mobile website framework
Semantic analysis of HTML source code on a client’s existing web shop
Data queries configured within the WebFlow console to aggregate catalogue data
Recreation of shop in mobile friendly format
MoPowered offer merchants a rapid, scalable data transformation to enable mCommerce
Making it easier for Merchants
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Tiered Solution to suit all Retailers
• Pure Platform
» Platform + Customisation
» Enterprise Bespoke Build
• Flexible commercials based on risk/reward
• Low integration and customisation reduces need to find any CapEx
• Partnerships with all PSPs = focus on mobile conversions / transactions
• Working with retailers to develop business case through ROI
• Constant platform innovation and future-proofing
Continuous Improvement Plan
Cu
sto
mer
To
uch
po
ints
Creative
Design
UX
Payments
Integration
Support
Co
nsu
me
r To
uch
Po
ints
£ Revenue
Conversion
Performance
Road Map
Innovation
