Why Speed Up Your Mobile Payments Strategy
Mobile payments is gaining momentum and it benefits businesses to develop a m-commerce strategy to take advantage of this growing sales channel in the best way possible. Offering payments through a mobile phone app as opposed to a .com site, caters more directly to customers and the emerging on demand food marketplace of people always on their phone.
When we approach businesses about the Treatmo mobile payment solution, we are often asked why there is a need for it. In fact, only 3% of small businesses offer mobile payments so there is a lot of confusion around what a mobile payment strategy looks like and what it can do for small businesses, especially food makers.
Here are five reasons why a mobile payments strategy is important for small businesses.
On Demand Food
Customers want the flexibility to order anytime. This provides endless opportunities for food makers as people want to pay whenever the urge strikes -- this could be on the way to work, at the airport, or in bed at 3 a.m. The key is to make it frictionless and your store front readily accessible via phone which is always at hand. This is the easiest and fastest way to engage the instant food market and always be top of mind.
Website Presence Less Critical
We're entering Mobile 2.0. Fewer merchants are putting in the effort to create, maintain, and promote a website. It is a burden and without a continuous effort at building traffic, ROI diminishes. Shopping cart abandonment is high on merchant websites. So even if you do generate traffic, sales may still be hard to achieve.
Instead of asking customers to go to your online store, sending them to a marketplace like Treatmo, where they can find other complementary items, keeps them connected to you. Through the news stream of purchases on Treatmo and user profile, customers will always be able to easily retrieve past orders, engage with your business and share your business with friends.
Direct to Customer’s Mobile Phone
Everything that can go mobile, will go mobile. This is true for payments and markets. By developing a presence on your customer's mobile phone today, you are gaining early position for your products and brand in a space where customers will be doing most of their buying.
How you get into the mobile space is up to you - either no presence, your own app, or a store front in a marketplace app. With limited storage space on user mobile devices, creating your own app and promoting it for download is not the best strategy. As customers begin to feel app fatigue or overload on their phone the time and effort you put into driving people to your proprietary app will erode the cost benefit very quickly. The quickest way to move forward is to create a store front in a marketplace of likeminded businesses and get customers excited about having you in their pocket for 24/7 ordering.
Distribution May Not Mean Sales
Many food makers are driven to get their products onto supermarket shelves. A product that does well in a certain category is sure to get noticed, especially when it reinvigorates that category or does well as that category grows and expands. However, this may not always happen right away and products will sit on shelves without selling potentially for a long period of time.
When a category is crowded and has dominant brands, it becomes even harder. Further, a package on a shelf can’t convey the story behind your product. Because of this some merchants are choosing to skip distribution and go direct to consumers with the mobile model where they can showcase their business and products in one glance.
Restaurant Model Changing
In larger cities, rents for ground level restaurant space is increasing. However, the number of customers that can be served in one night based on the restaurant layout remains fixed. So how do restaurants increase sales? Some restaurants are beginning to sell their own branded food products based on popular items served in house for shipping. Other businesses have skipped the restaurant concept altogether and invested purely in meal delivery. If your business is becoming dependent upon delivery, mobile payments is a similar strategy but to bring your customers to your store front.
Mobile payments supports all business models perfectly since customers can order based on how they want to obtain their food and do it remotely at anytime.
Treatmo is the easiest and most effective way to implement a mobile strategy for your business. If you're tired of maintaining a website, open a store front in the Treatmo marketplace for a fraction of the time investment required by a website. When you join Treatmo you also join a growing brand and collective where we make checkout easy and customers become accustomed to the technology, as opposed to going through a new on boarding process every time with custom apps.
Treatmo is a flexible tool that can adapt to your changing food business model - shipping, meal delivery, farmers markets, restaurants/physical storefronts all work with Treatmo. Most importantly, Treatmo's mobile first strategy puts you in your customers pocket for instant, on demand ordering, making sales frictionless for your business for whenever the urge to buy or order strikes.