Rocket Internet’s online marketplace Kaymu.com.ng has identified how online marketplaces can monetize mobile marketing, highlighting the functions mobile marketplace apps should possess on Tuesday 13th February at the Mobile West Africa Conference 2014.
With the country’s mobile and internet penetration rate at a rise, it is evident that a larger percentage of consumers of product and services are on the mobile devices making it imperative for brands to maximize the opportunities provided by the platform. Some of the major techniques used in maximizing mobile devices for marketing purposes include; sms/ussd, mobileapps and websites, and mobile advertising on social media channels.
According to Massi Spalazzi, MD of Kaymu, an ideal mobile marketplace app should have a push function that enables online platforms to target buyers based on their previous purchases and suggest a variety of products from the same seller. Such targeted messages will boost conversion and drive down consumer acquisition costs.
Another important feature enumerated is the Live Chat function that enables sellers and buyers to communicate via instant chat. Nigerians are renowned entrepreneurs currently conducting transaction through bbm, whatsapp and facebook messenger as such a live chat will offer a better platform to an existing trend.
Similarly a snap and share function integrated into the share option of the photo gallery reduces the upload tunnel from four interactions to two interactions.
Taking eBay as a pointer, mobile innovation has been a key force behind eBay’s strategy to make buying and selling easier and the brand recorded 100 million app downloads in 2012 with twelve times more listings done via mobile phones and mobile commerce growth recorded at 85%.
Spalazzi further stated that according to market research carried out by the online marketplace, mobile websites help reduce bounce rates by 8% and conversion up to four times on tablets compared to mobile phones.
On comparing the Kaymu Nigeria marketplace to other markets across Africa, the firm established that retail structure of markets affects the success of marketplaces. Judging by its population, it is no surprise that Nigeria has a larger number of sellers of African markets.
The firm identified supply as one of the features that affects the products sold on the platform, stating that influx of goods from foreign countries pushes traders to find diversified sales channels, online and mobile being some of the more recently popular channels.