With smartphone use surpassing desktop, it’s more vital than ever for brands to successfully monetise mobile.
Stat Counter, a research company who track internet use across more than 2.5 million websites, found that, by the end of 2016, 51.3% of web pages were loaded on mobile devices. This figure was up by a staggering 10% in just two years. However, despite huge growth, conversion rates and monetisation of the world’s largest digital channel continue to fall short of those of desktop.
The ‘snacking’ culture of mobile phone use, alongside challenges with screen size, data entry and the public spaces in which phones are often used, requires businesses to re-think their mobile strategy if they want to finally crack mobile monetisation. However, we’re not just talking about more responsive websites and larger Call-To-Action buttons (albeit both are important factors): success on mobile will only be achieved if the proposition is tailored to the small screen and is complimented with a seamless mobile payment experience.
We’ve put together some tips you should seriously consider if you’re looking to increase your mobile conversion rate and monetise your digital content.
1. Offer a Free Trial
If your product is a subscription service, why not let it sell itself by offering your customers the chance to try the service before they pay for it: if it’s the right product, they’re likely to turn into a paying customer anyway. Not only will a free trial increase the number of subscriptions, it also develops a much deeper sense of trust with your brand.
Here's a proven method to increase your chances of converting a ‘trialist’ into a paying customer:
- Capture payment details and permission to charge at the point of subscription, so payment can be taken once the free trial is complete.
- Be transparent about pricing details at the point of subscription and make it clear when the customer will be charged.
- Make it easy for customers to cancel their subscription at any time, to avoid disgruntled customers.
We’ve found that use of these best practices results in more than 80% of trialists ultimately converting to premium.
2. Develop a ‘Snackable' Proposition
Mobile is dominated by a ‘snacking’ culture.
A study conducted by Nottingham Trent University found that the average person picks up their phone around 85 times daily, in a series of short habitual bursts throughout the day where more than half lasted no longer than 30 seconds. This behaviour is completely different to other channels, such as desktop and TV, where a longer session, or even a binge, is much more prevalent. Thus, mobile content and products should be tailored to much shorter but more frequent user activity patterns: think bitesize content that can be enjoyed on the morning commute, just before bed, or even while watching TV.
Also, with the habitual revisiting behaviour of mobile users (just look at social media use for evidence of this), content must be refreshed much more frequently if you want to retain your customers.
3. Explore Micropayments
Micropayments cater for impulse purchase behaviour.
Due to increasing smartphone adoption and its ‘snacking’ behaviour, many companies are tapping into the value of deploying micropayments. A look at some of the world’s leading brands across all different sectors shows how popular this has become: Dropbox (£7.99 per month), The Telegraph (£1 per week), Spotify (£9.99 per month), Strava (£5.99 per month) are just a few examples.
While customers may be willing to pay £40 for a monthly TV subscription that allows them to binge on their favourite boxsets for hours, they simply won’t pay the same price on mobile. In fact, we’ve found that pricing up to around £12 per month works best for mobile.
However, it's not just about subscription models. There’s also an opportunity to offer one-off payments, where users pay for content as they consume it. Just look at Blendle, a digital news platform, that allows customers to-per-article and shaping the future of great journalism.
4. Deliver a Frictionless Payment Journey
Sadly, a great mobile proposition, appropriate pricing and a free trial alone are not enough to get your customers over the conversion line, if they’re made to jump through hoops to pay. So, the final part of puzzle (and one that should be your key consideration) is optimising the payment journey itself.
To maximise your chances of converting a customer, you must deliver a compelling experience that allows your customers to seamlessly discover, pay and consume your digital content from their smartphone. Direct Carrier Billing (“DCB”) enables customers to purchase digital goods from their mobile in as a little as a single click. By automatically detecting the customer’s mobile phone number, the transaction can be charged directly to their mobile phone bill with absolutely no fuss - it really is as simple as that!
DCB offers far greater convenience to the mobile user than any alternative payment mechanism and is perfect for micropayments, completely removing the need to fill out lengthy forms or enter any personal details – unlike Credit Card, Debit Card and even PayPal, which can sometimes require over 100 clicks. It’s easy to see why Direct Carrier Billing converts three times better than Credit Card!
Interested in micropayments?
If you're looking to increase your mobile revenues and you'd like to learn more about micropayments, then we'd love to speak to you.