For years commentators have been saying this is the year of the mobile and in 2015 we can confidently say that it has finally arrived for retailers.
Smartphone penetration in the UK market has climbed to its highest ever usage; IMRG Capgemini (2014) research found 52% of all visits to retail sites were made using a mobile device and 36% of all online purchases were completed on a mobile device. And fashion retailers are seeing nearly 40% of all purchases made on mobile devices.
Younger audiences are ever more digitally connected and they have a much higher propensity to browse and buy through mobile devices. They expect browsing to be easy on every site they visit, but even more than that, they expect their searches and purchases to be easy through their smartphone.
One of the most connected audiences is the Millennials, especially young parents. The younger they are, the heavier their use of the internet and mums use of the internet tends to increase once their baby is born. BabyCenter 2015 research found 48% of Millennial Mums (aged between 18 and 32) buy half or more of their shopping online. They overcome the isolation many new parents feel by staying in touch with the world online and 58% look to the internet for helpful advice. They are savvy customers browsing alternative suppliers’ prices while in store. Mintel’s Lifestyle of Mums UK 2014 research found 93% of them have smartphones.
surveyed 65 baby and young children’s product retailers and we were surprised by what we found.
So, how many lost sales does this poor mobile performance represent?
This is the question all retailers should ask themselves. Building a new responsive site or a companion mobile specific site is a big investment and any board of directors would need to see the cost vs benefit justification to agree to spending money on such a project.
Extensive data crunching looking at desktop conversion rates versus mobile conversion rates can hint at the opportunity, but this might not be good enough.
We advise clients to start at the business end: mobile optimize your sales funnel to make every purchase quick and easy and measure the increase in conversion. This data, plus how many users access your site through mobile devices and don’t convert, plus the volume of abandoned baskets through mobile devices will help you to estimate the lost business your current set up is inflicting on your bottom line.
Optimising your sales funnel for mobile devices (especially smartphones) is a much smaller project than a full site build, can revolutionise mobile conversion rates and help you to build the business case for a fully mobile compatible site.
We recently finished a project for a well-known motoring rescue service by auditing and providing recommendations for the improvement of their sales funnel. The increase in conversion paid for the cost of the audit and changes to the sales funnel within 24 hours!
“The recommendations equimedia provided assisted in the redesign of the website journey which improved conversion by 40%. The cost of the review was recouped within the first day after the redesign!”
- Web optimisation manager
We completed similar work for a well-known pet insurance provider, optimising their website to improve their sales funnel, and increased conversion by more than 50%.
Building confidence in mobile-friendly technology by demonstrating increased conversions and revenue could make the business case clearer and give retailers confidence in the benefit of the larger investment needed to build a completely responsive or mobile specific site.
If you would like to know more about how we could help you build your business case and improve conversion please
get in touch.