mStore is a cloud-based, fourth generation mobile commerce solution that offers retailers a faster, better, and more affordable mobile site solution when compared to standard E-commerce, responsive sites. By leveraging Google shopping feeds or by implementing a simple suite of APIs, retailers can launch a “superior mStore in days or even hours,” explains Gould. Besides offering enterprise-class PCI compliance and uptime, mStore promises flamboyant results in conversion rates that are often 50 percent higher than most one size-fits-all responsive sites.
mPower is a cloud-based mobile marketing engagement solution that works for all retailers, even ones not using mStore. “With the ‘mobile revolution’, marketers must focus on developing advanced strategies and solutions to help mobile customers make their lives easier, better, and richer,” says Gould. “As it turns out, location and time may well be the best signals of consumer intent, far better even than any keyword search.” Gould maintains that “Retailers who are looking to optimize their mobile sites to increase conversion rates and R.O.I. must understand the nuances of how space, time and impulse interact.
We’ve developed a proprietary framework describing how the complex interaction of space, time, and impulse greatly affect mobile commerce and conversion rates
They must also have access to the necessary tools to take advantage of unique mobile opportunities. This is the goal of mPower, a cloud based tool that does just that.” Everything a retailer needs to succeed in mobile has been included. Text messaging, push notifications, location- based marketing, impulse generation, and a definitive tool to build and manage a database of ‘permissioned mobile phone numbers. “It’s all there,” says Gould.
For instance, one large retailer approached mShopper to improve their conversion rates. They launched a mobile optimized, responsive site in the latter half of 2013. However, it was somewhat ineffective. Prior to conversion, their historic conversion rates were about 2.3 percent. Post launch their responsive site increased mobile conversion rates from just under .3 percent to about 1.1 percent. However, for this client their non-mobile conversion rates decreased from 2.3 percent to 2 percent post launch. They approached mShopper to integrate their mPower solution. By the end of 2016— with mPower—they had built a database of mobile phone numbers in excess of 50,000 people and had used the different mPower tools to engage customers based on time and location. According to Gould, “today, their mobile conversion rates are in excess of 2.5 percent.” mShopper also calculated the lifetime value of their mPower customers at over $500, which means their database value is north of $25million! “I was hoping we might get a percent of this, but it didn’t happen,” pined Gould. Oh well, they’re happy.”