Surviving A Recession: Developing a Custom Mobile App Can Help Businesses Stay Competitive and Increase Revenue

March 29, 2023 app, apps, ecommerce, economy, Fed, interest rates, marketing, mcommerce, mobile, mobile app, mobile apps, mobile commerce, mobile content, mobile site, recession, small business, strategy

Surviving A Recession: Developing a Custom Mobile App Can Help Businesses Stay Competitive and Increase Revenue

March 8, 2023

In today’s fast-paced world, mobile commerce is becoming increasingly popular. Businesses need to adapt to this trend to stay competitive. With the fear of recession looming, it’s understandable that businesses are becoming cautious with their investments.

Despite the fear of a possible recession, macroeconomic indicators such as Personal Consumption Expenditures (PCE), consumer spending, and the labor market are very strong at the moment. The PCE index, which is a measure of inflation and consumer spending, increased by 0.7% in December 2022. That is the largest increase since June 2021. Consumer spending accounts for two-thirds of the U.S. economy. It rose by 1.1% in December 2022, indicating a strong demand for goods and services. The labor market is also robust, with the unemployment rate falling to 3.9% in January 2023.

The interest rate increases the Fed has undertaken to keep inflation under check have not found the desired results. It’s expected that Fed may resort to further rate increases, which may harm the economy. That could trigger a recession. The kind of strong macroeconomic numbers that the market throws up month on month and quarter on quarter gives a sense that the market may be in for a soft landing. Many experts believe that the market may be in for a longer high-interest rate regime during 2023 and the market will only adversely react when the numbers turn negative. However, it’s crucial to recognize that there’s always an opportunity in uncertain times and every crisis.

According to a recent study, mobile commerce sales in the US are expected to reach $432 billion by 2022. That’s up from $207 billion in 2018. This presents a significant opportunity for businesses to tap into this growing market and increase their revenue. Market fears should not deter businesses from investing in custom mobile e-commerce app development. It could be argued that now is the perfect time to invest in custom mobile e-commerce app development, as it can help businesses stay competitive in a market where consumers are increasingly shopping online.

While websites and mobile web are still important, developing a custom mobile app can provide businesses with several advantages. First and foremost, mobile apps provide a more personalized shopping experience. By using data analytics, businesses can offer targeted promotions and recommendations to customers. This is great for increasing customer loyalty and driving sales. Additionally, mobile apps allow businesses to send push notifications. You can use those to remind customers about sales, new products, and other promotions, increasing the likelihood of a purchase.

Mobile apps can offer a faster and more streamlined checkout process. This reduces cart abandonment rates and increases conversion rates. According to a study by the Baymard Institute, the average cart abandonment rate for mobile web is 70.91%, compared to 57.43% for desktop and 41.18% for mobile apps. This suggests that businesses can potentially increase their revenue by up to 29% by developing a custom mobile e-commerce app.

Developing a custom mobile e-commerce app may involve some upfront costs, but the potential return on investment can be significant. Businesses that invest in mobile app development can see a significant increase in revenue. According to a Clutch report, businesses that have mobile apps can expect to see an average revenue increase of 28%. Additionally, a report by Salesforce suggests that businesses that use mobile apps to engage with customers can see an average revenue increase of 33%.

Moreover, the lack of a mobile app can result in lost sales. Customers may prefer to shop on mobile apps rather than websites or mobile web. A study by Google found that 61% of users are unlikely to return to a mobile site they had trouble accessing and 40% would visit a competitor’s site instead.

In conclusion, the fear of recession is understandable. Developing a custom mobile e-commerce app can help businesses stay competitive and increase their revenue. With strong macroeconomic indicators and the increasing demand for online shopping, developing a custom mobile e-commerce app can help businesses stay competitive and thrive in an uncertain market. Businesses can potentially increase their revenue by up to 29%. They can do this by providing a more personalized shopping experience, streamlining the checkout process, and reducing cart abandonment rates. Moreover, the lack of a mobile app can result in lost sales. This makes it even more important for businesses to invest in custom mobile e-commerce app development.

Unbound Commerce has the expertise and experience to develop a custom mobile e-commerce app that meets your specific business needs and requirements. Unbound Commerce is a certified-level partner of BigCommerce and has delivered over 600 mobile solutions for online retailers.

3 Mobile Content Mistakes You Probably Make

February 18, 2014 apptive, build, color, logo, mobile content, mobile marketing, mobile strategy

Is your mobile content actionable?

Many businesses continue to treat their mobile presence as simply an offshoot of their existing marketing methodologies. Mobile strategy does not require businesses to throw their playbook out the window, however it does require some additional thought as to the types of content you will include in your mobile app or mobile optimized website.

Here are three mobile marketing mistakes we see businesses make time and time again, as well as some ways to fix them!

1. Treating Your Mobile App as a Landing Page

Mobile apps are a great way to disseminate information about your products to a wide range of customers. That being said, they will wither and die if they are simply left on their own. Mobile apps in particular require consistent updates with valuable content to survive. Simply creating a mobile app and hoping that people will find it results in very few downloads and a stagnant mobile user base.

To alleviate this issue, fill your app with dynamic content that will keep users checking back regularly. Including links to your blog and social channels will give your customers an easy way to stay up to date with your business no matter where they are. As a good rule of thumb, if you’re app has the exact same content for more than a week or two, your customers are likely not getting significant value from it.

2. Directing All Of Your Content Towards New Customers

Your mobile app is a versatile tool, but it is one that has significantly more benefit for existing customers. That’s because if someone downloads your app, then they are likely already fans of your store and want a way to connect with you at all times. If you are constantly using your app to promote content that is meant to appeal to new customers, your loyal customers may feel that they are in the wrong place. App uninstalls will soon follow.

When you are creating content, aim for a ⅔ split favoring content that will allow loyal customers to gain a greater depth of understanding about your products, team, or business philosophy. New customers will find and download your app if you are promoting it effectively, so make sure to throw them a bone every now and then too!

3. Offering a Segmented Mobile Experience

As mentioned above, if your customers are downloading your app then most likely you are doing something right. Capitalize on that, don’t attempt to change the game! Many businesses, when creating their app, will attempt to rebrand for a mobile audience. They will change everything from their color scheme to their logo and even their name and messaging. This can feel alienating and out of place.

When you create your app, your main goal should be to refine your existing web presence rather than attempting to redefine it. Continuity of experience and messaging across platforms will let your customers immediately get a feel for your mobile strategy, immediately encouraging the same impressed feelings they had when they first connected with your site.

These are some of the more common mistakes we’ve seen mobile users make. What have you seen? And do you have any advice on how to fix these or other mobile strategy missteps?

Mobile Content Marketing

July 2, 2013 app, content marketing, marketing, mobile content

The days of the sale circular, inbox flooding and even purely SEO-focused marketing are over. Content marketing reigns supreme. And, honestly, aren’t we all collectively breathing a sigh of relief? How many times did we stumble on a page that was just blatantly loaded with keywords? How many thousands of pointless messages have we had to delete from our inboxes, throw away when they were delivered to our door, or exasperatedly decline when the telemarketer refused to remove you from the call list?

Ant it isn’t just good for us as a collective customer base. Businesses also gain so much from the transition. The soul-crushing tedium of mindless keyword stuffing, of email after email and call after call getting rejected was loathed by many. Of course, this hasn’t ended completely, but for the first time in recent memory there is a shining alternative that actually works so much better. We can be rewarded for having interesting ideas and a fascinating company culture.

It is important to embrace this new trend, and to embrace it intelligently. Crafting excellent content is significantly more challenging (and more interesting/more rewarding) than phoning it in. However, it is just as important to present your content where people are most likely to engage with it. For many businesses, that means taking it mobile.

The fact is, people are engaging more with mobile devices than ever before, and in fact the chosen engagement medium is expected to shift from PCs to tablets in the next four years. They spend more time on mobile apps than they do the desktop and mobile web. You can read many more facts in this excellent post.

The world is moving much faster, and people’s lives are becoming far more dynamic. They crave genuine interaction, and they demand it immediately. Take your content marketing mobile and you will capture imagination, interest and ultimately, sales.