The importance of creating a Mobile Optimised experience
In 2019 52.2% of all internet traffic and over 60% of all B2B purchases came from Mobile phones. Perhaps even more incredibly was the findings of a study conducted by Google’s Boston Consulting Group in which it estimated Mobile usage generates over 40% of revenue in enterprise B2B businesses with this number expected to rise to over 70% by 2025. These incredible statistics outline the shifting nature of internet usage across the world and demonstrates just how important it is to take advantage of this new blossoming audience. Businesses that properly integrate mobile functionality can expect superior prospect retention and an average of 25% increased Conversion Rate (CR). Despite these rather incredible statistics many businesses have yet to take the leap and as a result, they are falling behind their competition.
The Mobile Laggards - "Doom Loop"
The reason for this apparent reluctance to create a Mobile Optimised experience, predominately in more traditional sectors like manufacturing and wholesale is summarised in the same report from BCG. They identified a way of thinking that they named the “Doom Loop”. This is a self-fulfilling prophecy in which B2B Businesses who have yet to incorporate mobile functionality into their web design have yet to see the potential benefits it can bring. Based on the fact that their current revenue is generated primarily by traditional web traffic they make a conclusion that their mobile audience is not worth investing in. They assume that since mobile users make up a smaller percentage of their current customer base that it will be difficult to generate a worthwhile ROI and therefore plans to invest in these technologies scarcely make it past executives.
Mobile Underperformance > Challange Proving ROI > Inability to Build a Business Case > Mobile not a Priority, Underinvestment in Mobile Media and Experience > Poor Customer Mobile Experience > Mobile Underperformance.
The reality is that investment in Mobile optimisation and mobile content has a far greater ROI as it allows you to reach a previously unsolicited audience. Increasing your brand outreach is an extremely important part of business growth. Industry leaders have long since understood this and have created extremely well-optimised experiences for both traditional and mobile prospects.
As mentioned earlier one of the primary barriers to entry for most SME’s looking to optimise their website for business is a lack of actionable statistics about the potential benefit of mobile functionality. It can be difficult to track the exact projected revenue increase and as a result, many businesses simply do not make the change. However, it is important to consider that there are other factors aside from purchasing statistics, associated with Mobile optimisation, that lead to higher long-term conversion rates. As we have written about before the differences between the B2C and B2B consumer are becoming ever more blurred. Customers in both sectors are starting to expect the same level of seamless customer experience that they would get from a company like Amazon. It is worth keeping this in mind, especially when you consider the fact that a recent report from Forbes, titled, ‘The Connected Executive ‘Mobilizing the Path to Purchase' found that in over 70% of B2B purchases, decision makers conducted research and browsed competitors using their mobile device. They also found that this number has increased by over 91% in the last 2 years alone.
This means several things for your business. Firstly, it means that it is likely that companies browsing competition will expect your website to be responsive and elegant. In fact, a study conducted by the Telegraph newspaper found that over 44% will leave a website if it fails to load within 4 seconds. It also means that there is an overwhelming likelihood that your business is missing out on potential sales because they have not optimised their current web experience for Mobile.
Intelligent web design is your key to success
Now that we have outlined the importance of intuitive, mobile optimised web design and demonstrated the impact that it can have on your business. It is important to consider what you can do to take advantage of this potentially missed revenue. Your website is a lot like your storefront in so far as it encapsulates and advertises your brand. Customers will infer the quality of your product from the elegance of your website. It is a difficult and sometimes arduous task to upgrade your current website to one that is fully optimised and functional. At Hare.digital we work with businesses to help them realise their digital potential and increase their revenue, traffic and conversion. At Hare, we specialise in intuitive and intelligent web design and bespoke software that can add a level of functionality to your business which can put you ahead of your competition. In today's digital world it is more important than ever to embrace the change.