Taking Mobile Commerce To The Next Level

Taking Mobile Commerce To The Next Level

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Panelists

Debbie Hauss Editor-in-Chief,Retail TouchPoints

MODERATOR

Andrew MorrisHead of Content, Money

20/20

Mike Orlando

CSO, Jumio

Copyright © 2014 Money2020 LLC. All rights reserved. 7

June 4, 2014

Andrew B. MorrisSVP Content & Business DevelopmentMoney20/20

The Path from Mobile Shoppingto Mobile Buying

Setting the Stage

8

One key aspect of mobile commerce is thatit is a self-service experience…

Other customer self-service use cases show us that this cancreate both the best and worst experiences with a brand.

Copyright © 2014 Money2020 LLC. All rights reserved.

Customer Self-Service for Bill Payment

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Sources: Morris Advisors Inc.

Enrollments for online bill payment facilitate turning off the paper bill and ultimately engagement in customer self-service on the biller’s web site. If properly implemented, these investments can drive down costs while also increasing customer satisfaction.

Customer Self-Service(“Call Deflection”)

Online Bill Presentment

(“Paper Turn-Off”)Online BillPayment

Cost ofBilling,

Payment& Customer

Service

Customer Satisfaction

Rates


Customer Self-Service at the Airport

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Well-executed customer self-service, such as Delta Air Lines’ airport kiosks and mobile app, save consumers time and create convenient, enjoyable experiences with the brand.

Sources: Delta Air Lines company web site


But poor customer-self service is costly!

11

Damage to your brand

Cost to remedy

Lost revenues

Reputational risk

Competitive pressure


Key Question

12

Analysts tell us that mobile commerce is growing toa $500+ billion global opportunity…

But why are US consumers doing more shoppingthan buying on their smartphones?


Global Growth of Smartphone Ownership

Sources: “Internet Trends 2014,” Mary Meeker, Kleiner Perkins Caufield Byers, March 2014

Global Smartphone Quarterly Unit Shipments & Smartphone Users as % of Mobile Phone Users, 2009-2013

13Copyright © 2014 Money2020 LLC. All rights reserved.

US Smartphone Penetration >80%

Sources: eMarketer

U.S. Smartphone vs. Tablet Penetration 2011-2014

14

Smartphone

Tablet


Amazing Things We Do With Our Phones

Sources: Business Today

“10 Things Your Smartphone Can Replace”

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Universal Remote Business Card Scanner Wi-Fi Hotspot Tape Measure Car Keys

Television Health & Fitness Guide Home Control Wallet Barcode Reader


7 Primary Motivations for Smartphone Usage

Sources: “Seven Shades of Mobile” study, conducted by InsightsNow for AOL and BBDO, 2012. In the first phase, 24 users completed a seven-day diary and in-depth interviews.

In the second, 1,051 U.S. users ages 13 to 54 were surveyed, data on 3,010 mobile interactions were collected, and the mobile activities of two-thirds of those users were tracked for 30 days.

To marketers the prospect of reaching shoppers through their smartphones is tantalizing. But mobile doesn’t always mean on the go. New data show that 60% of consumers’ smartphone use happens at home. And users’ most common activity is not shopping or socializing but engaging in what researchers at BBDO and AOL call “me time.”

Seven Primary MotivationsThe reasons consumers use smartphones can be broken down into the goals listed at right, along with the average monthly minutes and percentage of interactions devoted to each.


Global Growth of Mobile Commerce

Sources: PFSWeb 2014

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With mobile sales worldwide projected to be $626 billion by 2018, sales from mobile devices alone in 2018 could almost eclipse sales from all eCommerce devices in 2013 ($638 billion).


% of Smartphone Users that Engage in mCommerce

Sources: PFSWeb 2014

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Apparel and accessories were by far the most purchased products on mobile. In the U.S. and Europe, 39% of smartphone owners and 54% of tablet owners purchased from this category. Next highest physical good was books (23% smartphone and 29% tablet).Copyright © 2014 Money2020 LLC. All rights reserved.

Smartphone as a Shopping Assistant

Sources: Nielsen Mobile Shopping Report, Q3 2013

Comparing Activities Among Mobile Shoppers

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Smartphone

Tablet


Mobile Buying Happens Mostly on Tablets

Sources: Nielsen Mobile Shopping Report, Q3 2013

Comparing Activities Among Mobile Shoppers

20

Smartphone

Tablet


Barriers to Purchases on Smartphones

Sources: “Mobile Commerce Compendium,” eConsultancy, June 2013

Why haven’t you bought anything online using your smartphone?


67.91% Average Shopping Cart Abandonment Rate

Sources: various, as noted above

62.30% according to Fireclick in 2014

69.20% according to Vibetrace in 2013

74.00% according to Barilliance in 2013

67.41% according to Coremetrics / IBM in 2013

78.00% according to AbandonAid in 2013

60.32% according to Triggered Messaging in 2013

74.23% according to SaleCycle in 2013

75.00% according to Listrak in 2013

67.00% according to Comscore in 2012

80.30% according to Rejoiner in 2012


74.76% according to Fireclick / DigitalRiver in 2012








72.00% according to SeeWhy in 2011


55.00% according to Forrester Research in 2010



62.14% according to MarketLive in 2009

71.00% according to Forrester Research in 2009





59.80% according to MarketingSherpa in 2006

Average: 67.91% abandonment rate


Reasons for Mobile Shopping Cart Abandonment

Sources: Mobify, February 2014

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Distracting Design The most common reason for mobile shopping cart abandonment is distracting, overwhelming design.

Unreasonably Long Forms Filling out long forms is one of the most dreaded actions for a mobile visitor.

Cumbersome Enrollment Process It’s great to offer users the ability to create an account with your site but a poorly executed enrollment process can cause conversion rates to drop drastically.

Unpredictable Checkout Flow An unpredictable shopping cart is an abandoned one. It creates too much anxiety in any shopper, especially if she’s on the go.

Mobile Checkout Appears Insecure Many mobile users still perceive buying on mobile as a less safe option than desktop.

Not Conducting A/B Testing Since every mobile site is unique, experiment with solving customer experience challenges through A/B testing.


Morris

Thank You!

24

Andrew B. MorrisSenior Vice President, Content & Business DevelopmentMoney20/20http://money2020.com/

(770) 686-3727 office(678) 596-5244 [email protected]


http://money2020.com/

mailto:[email protected]

© 2013 JUMIO, INC. – CONFIDENTIAL

June 4, 2014

Webinar: Taking Mobile Commerce To The Next Level


1.4 BILLION SMARTPHONES

1 BILLION PICS PER DAY

200+ MILLIONM-PAYMENTS USERS

It’s time they met

Payments are UbiquitousCameras are Ubiquitous

ABI RESEARCH 2013, 2 EDWARDS ARBITRON RESEARCH 2012 EXTRAPOLATION , GARTNER RESEARCH MAY 2012


UX Matters: Mobile customers are savvy and impatient

Long11 fields

Short4 fields

increase in submissions160%


Poor Mobile Experience = Customer Abandonment

Too many fields

Too small of a screen and keyboard

Too much time

Poor brand experience

66% of users abandon mobile forms

Are you losing 2/3 of your mobile customers?


Jumio Solutions

1. Fastfill: Speeds mobile customers thru sign-up and checkout forms by scanning IDs, extracting data, and form filling

2 . Netswipe: Captures credit card data to speed customers thru payment checkout forms


Turn your customer’s smartphone into anID data extraction and population tool


Customer scans ID.

Form gets populated.“Scan ID” Button is added.


100+ countriesFastfill works with IDs from across the globe.

Jumio’s patented technology offers data extraction from:

Bar Codes or Image Recognition


✓ Dramatically increase revenue ✓ Increase customer engagement✓ Create a “wow” customer experience✓ Reduce fraud and chargeback risk✓ Increase customer satisfaction

Credit Card Scanning & Validation

RevenueEngagementSatisfaction

Chargebacks


Remove Payment Friction with Netswipe

YOUR MOBILE APP AT CHECKOUT | INTERACTION WITH NETSWIPE SDK

✓Card Validated✓Customer Name filled✓16 digit card # filled✓Expiration date filled✓CVV entered by

customer

Jumio API Activated

Transaction completed

Scan card or key entry options


Pay in under 5 seconds

Fast = More Transactions

Key Entry 55 SECONDS

MOBILE PAYMENT ENTRY TIME:

5 SECONDS

Save your customers 50 seconds per transaction


Drive Conversion

*RESULTS SHARED WITH PERMISSION FROM TRAVELOCITY

MOBILE APP CONVERSION RATE (%)

Jumio customers enjoy an average 18-33% increase in shopping cart conversion

52%

Key Entry 9%

Average increase 18-33%


Flexible and Scalable Platform

OS PLATFORMS:

DEVICES:

INTEGRATION TIME: Minimal developer time. Go live in weeks.

PRICING MODEL: Flexible SaaS model* Month-to-month, annual or multi year terms* Limited or unlimited scans per month plans available

Platform Specs


Safe & Secure

✓All data transmitted with 256k bit encryption✓Full redundancy on Amazon EC2 and Rackspace✓Meets local jurisdiction data requirements✓24/7 network monitoring and Help Desk

✓Security management ✓Policies and procedures✓Network architecture ✓Software design accreditation✓Ongoing certification monitoring

We apply stringent PCI protocols to PII data


Selected Clients & Recent Awards

2013 Awards


Thank you!

Visit us at:

www.Jumio.com

Email us:

[email protected]

#NextGenMobile

Panelists

Debbie Hauss Editor-in-Chief,Retail TouchPoints

MODERATOR

Andrew MorrisHead of Content, Money

20/20

Mike Orlando

CSO, Jumio

#NextGenMobile

Thank You For Joining Us!Download the slides from this presentation:

http://rtou.ch/nextlevelmobile

Taking Mobile Commerce To The Next Level

Marketing

Transcript of Taking Mobile Commerce To The Next Level