In our recent survey on mobile engagement, we asked respondents a number of questions about their mobile spending habits. Our goal was to come up with a rough approximation of just what mobile engagement is “worth”, and what’s at stake for vendors who fail to provide their customers with an excellent mobile experience.
Among our survey population – 5,000+ individuals, worldwide – 84% conducted some type of mCommerce transaction in the past year. For those who made a mobile-based purchase, the aggregate spending was between $1.4 and $3.4 million. We also asked those who’d shopped via mobile to think about their most recent transaction, and found that 24% had had a previous mobile engagement with the vendor.
Offering these shoppers a less-than-excellent mobile experience could have put an actual purchase at risk. For our survey population, the 24% risk factor would translate into $342K to $805K. But, if you think about the hundreds of billions of dollars the mCommerce market is valued at, there’s a lot at stake if a vendor doesn’t get the mobile experience right. Will the consumer still make their purchase? More than likely they will, but some spending may evaporate. And even more likely, a significant proportion will go to another vendor that’s doing a better job with mobile engagement.
It’s also interesting to note that respondents who’d had a previous mobile engagement with the vendor spent nearly 20% more than those who’d gone directly to the purchase phase. Bottom line: mobile engagement matters.
Full survey results are detailed in our research report, Effective Mobile Engagement 2015.