The global business landscape has changed dramatically in the last decade and mobile technology has played a fundamental role in it’s evolution. But what’s astonishing is the impact that mobile will continue to have on enterprise in the next 10 or so years. In 2016 businesses all over the world continue to seek mobility solutions to engage customers and deploy exciting new products and services. This blog will explore everything you need to know about the seismic alterations in the mobile landscape and highlight the five areas your company must focus on to get ahead in mobile. Here are the top 5 mobile megatrends for 2016:
1. Mobile Payments will skyrocket
2016 is set to be a huge year for mobile payments as the volume of transactions is anticipated to grow by 300% in the US. Throughout the rest of the world, it’s estimated that 20% of smartphone users will regularly be using mobile payments. Overall, the number of consumers using mobile devices to pay for products and services at the point of sale is set to increase dramatically. In the USA, the value of these payments is set to increase by over 200%.
Proximity mobile payments are POS (point of sale) transactions that utilise mobile devices as the specified payment method through swiping, tapping, waving or other related gestures. By the end of 2015, mobile payments in the US will reach nearly $9 billion and the average consumer using mobile payments will spend $378. In 2016 the market is set to grow in size to a staggering $27 billion with the average spend per user growing to $722. The total volume of mobile payments will grow faster than the average spend per user, purely because of the overall growth in the number of users.
2. Smart objects will become a ‘thing’
By 2020 it’s estimated there will be 20 billion devices connected to the web. This astounding growth trajectory is largely being driven by the Internet of Things (IoT) and the proliferation of connected household devices. It’s predicted that by 2020, the average affluent household will possess several hundred mobile connected devices including smart lightbulbs, central heating control mechanisms, sports equipment, toys, power sockets and many more. All of these intelligent household appliances are part of the IoT and will be connected in some way to our smartphones and tablets.
Connecting these devices to smartphones and tablets will enable consumers to control their household appliances remotely and provide many functions such as remote controls, analysing and displaying household information. This will extend to social broadcasting whereby homeowners will be able to create household activity feeds in order to monitor various ‘things’. This could extend to replacing various household consumables and paying for subscription services automatically in a completely proactive way, rather than relying on the consumer to react in the first instance.
3. Apps will shift to enterprise
In 2016 consumer expectations will shift well beyond branded apps. Employees and consumers will expect more from their mobile experiences and interactions. Instead of shifting between different apps, mobile consumers will demand a more integrated experience. Mobile consumers will favour contextual experience on a singular platform with integrated apps. It’s expected that the shift towards enterprise app development will break up the current duopoly that Apple and Google Possess over the market. This may create the emergence of new app distribution platforms from the likes of Facebook and Amazon.
In 2016 it’s estimated that more than 25% of companies will integrate mobile into their overall strategy. Mobile will no longer be seen as a singular channel and invest in mobile as a core strategic component. This means that mobile will be used at every stage of the customer lifecycle and buying process. It also means that big companies will start to integrate mobile technologies with existing backend systems and existing data sets in order to enhance their working culture and processes. This will totally redefine the vendor landscape as mobile becomes an increasingly crucial competitive differentiator.
4. Context will be king
Today’s mobile experiences tend to be static and offer very little contextual value for the consumer. In 2016 mobile consumers will demand convenience. This will place increasing pressure on big companies to provide a seamless mobile experience that adds contextual value for the consumer. For big companies, this is case of creating a mobile experience in a contextual way that fits the requirements of the consumer. It’s no longer a case of just doing things in mobile when they seem convenient or easy, it’s about making it work for the end user at the right time. In turn, this will enable big companies to amass data in order to enhance their own products and services.
Companies will start to gather information from numerous different mobile data points. Using connected mobile devices such as wearables, TV’s and cars, brands will be able to generate data around consumer preferences and usage in order to provide a contextually meaningful experience. Whilst data gathering provides tremendous insight for companies choosing to embrace mobility, it’s actually about being able to provide additional value for consumers.
5. Exec teams will back mobile
Rewind back to 2007 and business executives were concerned about the cost of mobile. Fast forward to 2016 and mobile has become an issue of value rather than cost. It’s no longer a question of whether your business can afford to get into mobile. The question is can your business afford not to get into mobile. In 2015 less than 20% of companies were creating mobile-first experiences for customers. In 2016 big companies will need to focus on how to leverage mobile to enhance the entire customer experience. In 2016, Forrester estimates that over one in four enterprises will leverage mobile as a core component of their overall business strategy.
Executive teams will leverage mobile to provide a competitive edge and to enhance working culture internally. Top leaders will harness the power of mobile as a tool to improve business performance and evolve company culture. Mobile will enable forward thinking CEOs to increase the productivity and performance of employees. Mobile is all about flexibility and in today’s lightning paced business world employees demand to be able to use smartphones and tablets to access company data from any device, at any time and from any location. This process begins by mobilising employees working practices and habits by providing more flexibility and access to cloud based, backend data systems.
This is a huge leap for many business executives and CEOs. It means looking to the future when it’s actually unclear what many of these devices and services will actually look like. It means embracing agility and working out how to manage demand for mobile capability. Embracing agility will play a key role in this transformation as business owners get into mobile by taking a series of small bets, analysing the data and iterating their tactics over time. It’s this approach to mobile that will help executives to yield results from mobile and justify increased investment into 2016 and beyond.
The final word on mobile in 2016
For some highly innovative companies the biggest challenge around mobile is resourcing app development projects. Finding great mobile capability is one of the biggest challenges that companies will face in 2016. Great mobile app developers in 2016 will be in extremely tight supply and very high demand. This means that if you’re a company getting into mobile for the first time, some of the challenges you’ll face can be enormous. Getting to grips with mobile capability is difficult and can seem like an impossibly daunting task. If you’re an enterprise seeking mobility expertise, consider how a build, operate, transfer model can transform your business.