Sage Pay Webinar - Are you ready for the mobile revolution?
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Transcript of Sage Pay Webinar - Are you ready for the mobile revolution?
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WebinarAre you readyfor the mobile revolution
?
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Are you ready for the mobile revolution? 2
Are you ready for the mobile revolution?
Agenda
17 July 2014
11.00 – Introductions
11.05 – Mobile Payments(Sage Pay)• What is a mobile payment?• Trends in mobile payments• The importance of mobile payments
11.15 – Are you ready for the mobile revolution? MoPowered• Mobile Channel Overview• Challenge 1 – Monetising the Mobile Channel• Challenge 2 – Understanding the Options: Build vs Buy?
11.35 – Q & A
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Are you ready for the mobile revolution? 3
Are you ready for the mobile revolution?
Introductions
17 July 2014
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Are you ready for the mobile revolution?
Your presenters
17 July 2014
Donna Dobson, Senior Manager – Sage Pay
Ali Wood, Channel Manager– MoPowered
Jim Rudall, Sales & Marketing Director– MoPowered
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What is a mobile payment?Mobile optimisation
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What is a mobile payment?Near field communication
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What is a mobile payment?Mobile apps
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What is a mobile payment?Mobile wallets
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Mobile paymentsThe current trends
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Mobile paymentsThe current trends
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62%
£7.92 bn
100%
£3.10 bn
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Mobile paymentsThe current trends
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Mobile paymentsThe current trends
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The Challenges of Going MobileWhat to consider when deciding on your strategy
17 July 2014
Ali Wood and Jim Rudall MoPowered PLC
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Areas of Focus
17 July 2014
• Mobile Channel Overview
• Key Challenge 1 – Monetising the Mobile Channel
• Key Challenge 2 – Understanding the options: Build vs. Buy?
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Mobile is the New Channel
17 July 2014
23%Mobile commerce accounted for 23% of UK e-retail sales
in Q2, 2013
52%Said that a bad mobile
experience made them less likely to engage with a
company again
M-commerceis set to
quadruple
By 2017
40%have turned to a competitor’s site
after a bad mobile experience.
Smartphone users are spending twice
as much time using mobile
internet as they are for making
calls
O2
Forrester
IMRG
“We haven’t actively pushed customers onto mobile, they’ve adopted
these devices willingly for their convenience and
ease of use.” Shop Direct
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Global Internet Use
17 July 2014
According to this data global mobile internet use is expected to overtake traditional desktop and laptop internet use this year.
"Mobile use is growing faster than all of Google's internal predictions."
- Eric Schmidt, Google
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The MoPowered PLC story
17 July 2014
2007 2009 2012 2014+
120 customers across mobile
web/apps/tabletDeveloped the MoPowered
m-commerce PlatformAdditional in-App
commerce functionalityPioneered Mobile
Banking
“MoBank”
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The Essence of the Mobile Challenge
17 July 2014
A Web site designed for the small screens of mobile phones. When a request from a mobile browser is made, the user is redirected to the mobile version for a significantly better user experience.
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The Next Journey
17 July 2014
BeforeDifficult to
view, browse, checkout
AfterEasy to shop
and purchase
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Mobile paymentsLeading Brands are Still Learning
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So much to do so little time…
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Key Objectives:
• Increase traffic• Increase conversion
rate • Reduce abandonment• Create a great user
experience
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How are your customers engaging with you?
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Key Challenge 1 – To Monetise your Mobile Channel
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• Radically improve the user experience
• Less is more
• Optimised for touch gesture
• Clear call to action
• Faster speed and performance
• Convert browsers into buyers
• Checkout optimisation
• Tokenisation
• E Wallets
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Merchants spend ££ on branding & acquiring traffic…
17 July 2014
PaidDisplayPaid SearchAffiliateSponsorship
EarnedSEOWOMBuzzViral
OwnedWebsitesMobileBlogsSocial Accounts
ROI
Traffic acquisition spend
“For every £80 spent on acquisition only £1 is spent on conversion.”
Forrester Research
Poor mobile UX and UI equals low:
• Engagement• Conversion rates• Average order value• Retention3%
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Mobile paymentsMobile Channel Abandonment
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Mobile shopping basket attrition rates are around 97% - Google
By not having a mobile site retailers are losing traffic they have already paid for
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Focus on page load performance
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Every 100ms delay costs 1% of sales (Amazon)
“There’s a direct correlation between page load speed and conversion”Andy Harding (Executive Director, Multi Channel @ House of Fraser)
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Mobile paymentsKey Challenge 2 – What are the choices - Build vs. Buy
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The on going debate
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Mobile paymentsWhat works?
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Mobile users want different things – information or action
Dedicated mCommerce sites load quickly and convert better
Responsive design allow users to access more content blog and other information but are clunky.
For information / content sites responsive design is a good approach
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What are your options?
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Responsive Design Mobile Platform
• Built & Supported by 3rd
Party
• SaaS minimises investment
• Mobile specific design and
development expertise
• Built For Purpose mobile
UI/UX
• Radical Improvements in
Performance
• Uplift in all Ecommerce KPIs
Seen as best fit for Ecommerce –
majority of major retailers
continue to invest in mobile
platforms
• Delivered In House/By
Partner
• Cheap(er)
• Reflects lack of mobile
expertise and development
experience
• Sub-Optimal UI and
Navigation
• Poor Performance
(speed/UX)
• Drop in Customer
Engagement
• High cost of ongoing
support
Seen as applicable to “content”
sites – not fit for ecommerce
purposes
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Platform Improves Performance on Mobile
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Platform Improves Performance on Mobile
17 July 2014
94 calls
1.3 MB data
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Platform Improves Performance on Mobile
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“A 1-second delay in page load time equals 11% fewer page views, a 16% decrease in customer satisfaction, and 7% loss in conversions. (In dollar terms, this means that if your site
typically earns £10,000 a day, this year you could lose £250K in sales)”
• 74% of users will abandon after waiting five seconds for a mobile site to load.
• 57% have experienced problems when accessing a mobile site.
• 46% would not return to a poor performing site
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Significant Increase in Customer Engagement
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• Average Order Value
• Revenue Per Session
• Pages Per Session
• Bounce Rates
• Ave Time On Page
• Transaction Volumes
+35%
+15%
+19%
-15%
+18%
+16%
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Examine the ROI
17 July 2014
Q4 Unique Visitors 115,287
Mobile traffic 9% 10,376 Other traffic 81% 104,911
Mobile conversion 0.25% Desktop conversion 1.5%
Average desktop basket £232.81Average mobile basket £196.82
Mobile sales (current) 26
MoPowered conversion rate 0.75%
Current sales revenue £5,105
MoPowered generated revenue £15,316
Incremental revenue £10,211
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Summary
17 July 2014
• Ensure whatever solution you select allows you to test and learn
• Be thinking mobile first but always with the mind that mobile is a separate channel
• A mobile specific approach will ensure you make the best of the opportunity and are prepared for what’s around the corner
• Turn frustrated browsers into happy buyers through speed and performance improvements
• Develop navigation on mobile which is contextual and follows best practice
• Tailor your checkout to the mobile experience
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A foundation to harness the future mobile opportunity
17 July 2014
Push Notifications GPS iBeacon
Basket Abandonment Mobile Wallets Mobile Marketing
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Thank you and Q&A
Donna Dobson
Senior Manager – Sage Pay
www.sagepay.com
Ali Wood
Channel Manager
www.mopowered.co.uk
Alexandra.wood@@mopowered.co.uk
Jim Rudall
Sales & Marketing Director
www.mopowered.co.uk