The rapid growth of mobile device usages like smartphones and tablets is significantly boosting the m-commerce (mobile-commerce) market. Furthermore, the constant developments in technologies made the process seamless on mobile which changed the buyer’s behavior that results in m-commerce market growth and high CPM.
According to Statista, the global m-commerce revenues were $639 billion in 2019, which is a rise from $459.38 in 2018. But there is no huge growth. Another study suggests the market will rise at a CAGR of 27% during the period between (2019-2024).
This shows that mobile commerce apps usage is increasing due to customer’s ease-of-use, trust, and faster processing. If you already have an e-commerce website but you don’t have an m-commerce app for it, then you are lacking in this highly competitive marketplace.
How does CPM work?
You can easily calculate cost per mile CPM, by measuring the total number of served impressions divided by 1000. Now, you will get your CPM, by just dividing your campaign budget by that number.
But how to calculate that number of impressions? It’s similar to page views and sometimes it can also differ. For example, if you’re placing an ad on the same page of the website twice, then the advertiser will pay for two impressions though it has a one-page view.
Ecommerce vs m-commerce
- MOBILITY
E-commerce is a perfect fit for shoppers using desktop and laptop devices. However, you can’t carry these devices all the time and here M-commerce meant for mobile devices with ease. It allows users to shop from anywhere and at any time. They can use multiple payment apps for smooth and fast transactions.
- LOCATION TRACKING
Desktop devices can’t track accurate locations sometimes. M-commerce apps are using GPS for tracking live locations and provide recommendations that help businesses to benefit from CPM. For example, the app could send local store discounts and provide fast delivery options.
- SECURITY
Security is the biggest concern for internet users, as Smartphones provide two-factor authentication, fingerprint, and facial recognition that helps users to lock the apps securely.
Moreover, m-commerce provides a great shopping experience to the users and helps in boosting sales by innovative, interactive, and personalized marketing strategies that grow CPM.
Convert your e-commerce website into m-commerce apps
Creating an m-commerce app from scratch is an easy task, but small businesses may find it difficult. Still they can convert existing e-commerce websites into m-commerce mobile apps that will reduce costs and save time.
Here is how you can turn your e-commerce website into an m-commerce app that helps to get more CPM.
1. Identify the website platform
There are several platforms available in the marketplace, you need to find the platform that you build your e-commerce websites. For example, Magento, OpenCart, and WordPress plugin called WooCommerce.
However, you might have developed using one such platform. The first thing to do is, identify the platform and this will determine the steps to create your m-commerce app.
2. Maintain a consistent look and feel
Since you are converting the mobile app from your existing website, make sure to provide m-commerce apps with the same look and feel as your website.
Be consistent in the user interface across your whole app, so users will not find difficulties in switching to the app from the website.
If you fail to provide consistency, it will result in poor user experience and distract users which will not boost your CPM.
RELATED READS: 15 MCommerce Trends in Ecommerce that improve Mobile Engagement
3. Add key features
Before stepping into the development process, choose your mobile app key features. Below are the features that you must include in your app to get more CPM.
- VERIFICATION
The users must provide an email address or mobile number to verify themselves on the app.
- PUSH NOTIFICATIONS
Mobile apps must have this functionality to notify users about offers, discounts, etc. Push notifications encourage customers to purchase and also boost your CPM.
- CATALOGUE AND CATEGORIES
All the items must be arranged in specific categories that help users to find them easily.
- PAYMENT METHODS
Make sure to include multiple payment methods such as net banking, credit/debit card, PayPal, and cash on delivery.
- ITEM TRACKING
Users must be able to track their items and check order status.
- CUSTOMER SUPPORT
Your customers might need your assistance related to products, and services. Have the functionality to support them via chat, emails, or phone.
RELATED READS: 10 Ways Chatbots can transform your Real Estate business
4. Develop APIs
The content management systems (CMS) such as WordPress and Magento consist of a closed-loop of software components. These components include the platform, server, database, and front-end of the website. This makes the website development to allow interaction and data exchanges hassle-free.
However, for enabling the data exchange between the database and other components, you don’t need API or Application Programming Interface to support it.
For developing the app, you need several APIs and this component will enable seamless interaction between your app and website.
5. Integrate APIs with mobile app
For creating your app that works efficiently, you need to integrate the APIs with the app properly. Your website and app may have static and dynamic information that gets fetched by the APIs.
The APIs integration means that if you did changes in dynamic information on your site or app, it will eventually get changed on both the platforms accordingly. For example, if you reduce the product price on the website, it will be updated in your app too. Using API integration, the customers will see the same price in both your app or the website.
RELATED READS: 9 Benefits of using Push Notification in MCommerce
6. Test all the parameters
Test all the features and functionalities of your app in the initial stage of the app-development lifecycle. Ensure to check every aspect of the app and then launch it for the users. Also, check whether your app follows all the legal guidelines and privacy regulations.
Make sure to check the bugs and fix them, so that your users will not face any issues.
7. Launch your m-commerce app
Once you’re done with the testing process, launch your mobile commerce apps in app stores. App stores such as Google Play Store and Apple App Store are the best medium to reach a wide audience.
You can also distribute the app via third-party app stores, which helps users to download the app easily.
RELATED READS:9 Trends of MCommerce to Boost Ecommerce Apps
Benefits of CPM advertising
CPM is especially profitable for publishers, as they get benefited if orders get placed in their mobile apps. However, more than advertisers these publishers get more user interaction and help them to get more revenue.
Also, CPM rates are affordable when compared with other metrics, so as a result, you get high profits and more customers to your mobile apps.
When it comes to mobile apps and publishers, CPM works effectively by placing an advertisement in their apps that drives more revenue. Different estimations like an average number of served impressions, daily-active-users count, can be combined as CPM to calculate how much profit they can get by placing ads in their apps.
This knowledge will help publishers to get more profits from mobile apps and also helps them to understand the aspects of mobile app advertisement optimization.
How to set up a successful CPM campaign?
Now that you know CPM advertising is the right choice, you might be thinking about how to start a successful CPM campaign?
At Zuan Technologies, we have an effective demand-side platform solution for advertisers and a supply-side platform for publishers. With a few clicks, you can start your own CPM ad campaign for effective monetization.
TO KNOW MORE ABOUT CPM – REFER THIS LINK
Wrapping up
Mobile apps have a lot of dynamic benefits when compared with websites. You can find most of the successful e-commerce businesses have their own mobile apps to get more revenue. It’s the right time for you to turn your website into an m-commerce mobile app and make the most of your e-commerce business.
