People today like to use the Internet to shop. This is why so many smartphones are equipped with mobile applications that make it easier to find and pay for goods and services. Small businesses that want to keep up with the times need to go mobile. This means considering the shopping habits of consumers and really understanding that offering a variety of mobile payment options will increase traffic and profits.
People today are constantly on the move between work, school, family and social responsibilities. Given this, consumers use their phones to find local restaurants and businesses and also make a lot of their purchases this way. Commuters who spend a lot of their time in a car or using public transportation find that it saves them time. People are always looking for easy ways to find businesses. Thus, for any group to get noticed, they need to increase their visibility online. This means making sure that their business details and contact information are available not only on their own website but also on business-related applications and on social networking websites.
It is proven that integrating mobile options into a business is sure to increase profits. A recent Gartner report stated that mobile payments have increased by 62% in just one year: from $170 billion from the reported nearly $106 billion. Some researchers think that by 2013 mobile payments could increase to more than $600 billion. Any business that wants a piece of the pie needs to make mobile payments a reality.
It’s easier than one might think to add mobility to a small business. There are many tools to make this process quick and easy for businesses and for the individual too. For example, small business owners can make use of PayPal, Sprint and Google. Another option is to use mobile payment from ISIS, a collaboration between AT&T, T-Mobile and Verizon. Though there are costs to such payments, the consumer demand for such options makes it worth it.
Keep Up with the Competition
If a person wants a good or service, he or she may look it up online to find out what people have to offer. On a whim, the individual may buy the item then and there. Small businesses that do not have mobile payments will be left behind and another business could end up getting this sale.
Give People What They Want
By offering online payments, a business does more than improve sales. This is a chance to directly share promotions, discounts, sales and information about store hours and directions. Communicating important information to consumers is just as important as profits. This ensures that shoppers always have what they need. Any consumer questions can be asked and answered quicker too. Increasing mobility increases communication between consumer and business, which can build an important relationship.
Demand for Mobile Payments
Any group that is cash or in-person only will have to say goodbye to the consumers who want to find and pay for goods on their smartphones. This could remove a key piece of future sales and eliminate modern shoppers from a client base. Small businesses that want to stay relevant and refine their image and brand should look into mobile payments. This is an easy way to increase sales and create important relationships with consumers of all ages and types.
Easy Funds Transfers
Mobile payments make it easier for a business to collect payments and stay on top of accounting. After all, everything happens online. Thus, owners and managers can easily transfer funds and see how sales are adding up. This makes it easier to organize documents for tax purposes. Businesses can also track consumers’ habits, among other valuable pieces of information. Understanding who likes a product or service ensures that owners or managers can refine marketing materials, goods and prices to meet such needs. Additionally, this makes it easier to collect emails, phone numbers and to directly communicate with consumers.
Safe and Sound
Many business owners worry that mobile payments are unsafe. Thanks to the latest advances in technology, this is no longer an issue. Mobile payments are incredible secure so that a person’s information is kept safe and small business payments cannot be accessed. In fact, such payments can be more easily transferred to businesses, which increases cash flow.
Image is everything in business. No one wants to be considered old-fashioned or out-of-date. Offering mobile payments shows consumers that a business is keeping up with the latest trends and is prepared for the future. Businesses that resist change are often left behind; even large corporations can feel the pain of ignoring the latest technology. If a small business adapts to the demand for increased mobility, they are sure to project a modern image. This can help them expand their consumer base, profits, and, most importantly, their visibility in the industry.
Today, there is no reason to resist mobile payments. Having this option ensures that consumers in a hurry can easily find and pay for items while commuting or rushing to find the perfect gift. Small businesses that want to get noticed, increase sales and be noticed should offer this option. There is little downside to increasing mobility: it’s safe, sound, becoming very popular and makes it easier for businesses to receive payments. Really, this is a win-win situation for everyone.