All posts tagged Singapore Business

SME Mobile Technology and Grants Seminar

From Fat Wallets to Mobile Apps

Earlier last month I was giving a talk to the Senior Management of a large local SME. The talk revolved around the future of Mobile Technology.

My task for this morning was simple. To help my potential client, convince her boss and her board of directors that Mobile is the way to go and that they need to set aside a budget to invest in their Mobile strategy.

Rather than engaging in the usual spiel of future mobile trends, mobile landscape, etc., I decided to adopt a more intuitive approach.

During the session, I took out my wallet and told the Senior Management that herein lies the future of Mobile Technologies.

CONFUSED? Well, so were they.

You see, people frequently ask me how confident am I that Mobile Apps are not just a passing phase. This again is the wrong approach to take. Mobile Applications is not a question about technology. In fact, Mobile Technology is really about convenience and utility.

Human beings are innovate creatures. We constantly look for shortcuts to do things better and faster. The reason Mobile Apps have taken off, is because they allow people to be more effective and they provide plenty of increased convenience to customers.

A good example is loyalty card program. I am sure many of us have had this experience. We go to a shop or restaurant – make a purchase – we receive a loyalty card – we put it in our wallet – it makes our wallet look fat and ugly – we forget about it – it expires.

Annoying isn’t it? The beauty of a Mobile App, is that it helps to reduce all these inconveniences to the customers. Imagine this scenario. User download your apps – chalks up reward points – there’s no clutter to the wallet – when points are expiring, a notification gets sent to the user – they head down and redeem and probably makes a purchase – Customer Happy, Company Happier.

A BAD EXAMPLE

In Singapore, I see so many Mobile Apps for companies that fail. This is because they don’t approach the Mobile App development from the perspective of convenience to the customer. All they do is to lump everything from their website into their Mobile App. The moment you don’t provide convenience, well you can forget about people downloading your app.

WALLETS WILL GET FLATTER

Let me take out my crystal ball and do a prediction.
The trend for the next 10 years will be this.
Wallets will get flatter.

This is because many of the things found in your wallet can be easily converted into a Mobile App.
And of course, there is an inherent benefit to your customers.
They no longer need to carry heavy wallets full of expired coupons.
More importantly, if designed properly, your Mobile App can even enhanced the whole customer experience and bring out your Brand identity.

WHAT DOES THAT MEAN FOR BUSINESSES?

Well, take out your wallet.
Most of the things within your wallet can be digitized.
That is why you need to position yourself early in Mobile App adoption.
If you can start inculcating in your customers a habit of using your app, the dropout rate would be much lower.

This means that you need to start assessing the viability of a Mobile App loyalty program, mobile commerce, mobile reservation, etc.

Don’t let your competitors get a head start on you. Move fast, move quick, move now!

Feel free to call us at +65 64382006 or simply click here for enquiries.

Benjamin Yang

Managing Director

 

How Mobile Apps Change the Landscape of Today’s Business

How Mobile Apps Change the Landscape of Today’s Business

Traditional brick and mortar business is dead. Proliferation of the digital disruptive era has given birth to multiple new and diverse retailing channels to engage businesses with the ultra-connected tech savvy customer-base. Merchants are aiming for a competitive differentiation by leveraging mobile apps to integrate the dueling world of digital and physical commerce and customer engagement. To an average customer, services merging mobile and on-site commerce into a seamless Omnichannel shopping experience go a long way in making well-informed and convenient purchases.

Mobile Apps Help Your Business to Create Instant Sales

Meet John, your average customer staring at Tablet devices at your big box retail store, pondering over a few questions: Is this device good for my needs? Is this item available at the store? Is this the best price and warranty I can get?
So he takes out his smartphone and goes online searching for his best purchase option. In the meantime, the wireless network analytics at your department store alerts the nearest available sales agent to offer personal assistance to John. The agent equipped with enterprise-class mobile gadget accesses the store’s database and checks for unit availability, product information, customer reviews and latest pricing options to accommodate possible discounts.
The agent has all the necessary information to assist John in purchasing the Tablet device from your store and is able to make the sale before the customer has second thoughts. John opts for mobile payment instead of standing in a long checkout queue and orders shipping with a complementary personalized gift wrap for the intended recipient on his behalf – all within minutes of wondering about the purchase.

The Role of Mobile Apps in Omnichannel Approach

In essence, mobile apps for Omnichannel business functions create new sales opportunities, enhance customer engagement and boost efficiencies by transforming the way customers interact. Integrated with cloud-based analytics technologies enable businesses to understand the goals of their customers; as such that mobile apps serve the most relevant and convincing information to make sales.
According to a U.S based app analytics firm Flurry, 80 percent of U.S. citizens spend their mobile time on apps and only 20 percent on standard Web browsing. Mobile commerce is also on the rise in Asia according to a MasterCard online survey, which says 40 percent of online shoppers in Singapore, South Korea and Hong Kong purchase via mobile.
Consumer habits are influencing business strategies and mobile commerce has emerged as the center of digital innovation for businesses offering seamless customer experience across all digital channels. However, digital presence alone is not sufficient to engage customers seeking multiple channels in accessing information relevant to your business in their Omnichannel buying journeys.
Merging in-store physical experiences with digital insights maximize business opportunities as the consumer and corporate sector takes a mobile-first approach in their purchasing practices. Omnichannel retailing is a new territory for businesses and the future of mobile commerce will be driven by Omnichannel marketing services. For businesses seeking an early competitive edge with this marketing strategy, now is the right time to invest in mobile apps offering these services to customers as well as the workforce.

Feel free to call us at +65 64382006 or simply click here for enquiries.