Technology is changing the way we buy, sell and interact in the modern marketplace.
Smartphones, tablets and the ever-expanding diversity of mobile IT are transforming businesses and the consumer trends they rely upon at a rate that is simply without precedent.
In order to adapt to today’s fast-changing markets, and remain ahead of the curve, companies must keep a watchful eye on the factors that are constantly reshaping their industries. Today, mobile technology is unquestionably the most vital tool for businesses to harness as they transition into the sales landscape that will dominate tomorrow’s markets.
To help you make sense of the way mobile technology is hailing in a new generation of B2B and B2C relationships, the market research team over at Vouchercloud painted an insightful Portrait of a Mobile Consumer (see below). Bringing together brushstrokes that span many industries, technologies, and marketplace trends; the infographic offers a wealth of clues that benefit marketers and business strategists alike.
With average hand-held data consumption expected to rise five fold between 2013 and 2018 we know that mobile devices present a rapidly expanding opportunity for companies to get their products, branding and content before the eyes of consumers. What is more, understanding that average mobile download speeds more than doubled in 2012 alone ought to provide a clear sense of the rate at which your business’ mobile content needs to be evolving.
Multimedia, interactive website features, 3D photography as well as promotional downloads are now filtering down onto smaller and smaller screens.
Not to mention that consumers are spending more and more time each year using their mobile devices. We now use them to compare prices, shop, get directions to retail stores, consult friends about items we consider buying and purchase everything from concert tickets to pet food. So,..
If your company doesn’t have a strong mobile presence, your customers can no doubt find a competitor who does.
Cloud Technology Redefining
Meanwhile, cloud technology is redefining the way we use software and exerting a steady influence on our traditional understanding of ownership.
Software is now a service. Online games, storage, social networking and file sharing have all been revolutionized by the cloud. In fact, by 2018, 90% of mobile traffic will come from cloud applications.
Yet cloud is just the tip of the iceberg. In many ways, what it represents is an entirely new mode of mass consumption—a more efficient mode that facilitates peer-to-peer economics, fractures traditional top down B2C sales models, and allows for renting to occur on a massive scale – whereas buying was once the unrivaled dominant force in sales. Just look at powerhouse companies like Uber and AirBnB, who have built their empires on mobile users and the ethos of the mobile community.
The message is clear: to survive, you must adapt.
To adapt, you must adopt; and mobile technology will grow up to ruin any company negligent enough to orphan it.
With the mobile-commerce projected to reach $626 billion within 4 years (which, by the way, is just shy of what the entire e-commerce market was worth in 2013) the stakes couldn’t be higher and nor could the number of opportunities for windfall.
To seize them, however, businesses must make the investments needed to merge into the slipstream of this accelerating juggernaut. They must integrate mobile technologies into every aspect of what they do; from the factory floor to the sales floor, where innovations ranging from QR codes to Near Field Communication (NFC) are already helping businesses become faster and more efficient in countless aspects of what they do.
You need to put your company in a position to seize the many opportunities inherent in the emerging world of mobile commerce by getting familiar with the face of the mobile consumer.
Mobile Consumer Portrait
The figures presented in this Mobile Consumer Portrait are soon to become the face of your business’ future. Study them carefully and act rather sooner than later. (You can share the graphic on Pinterest by rolling over with your mouse).