2020 was a rollercoaster year in ways few of us could have predicted! The covid-19 pandemic and subsequent lockdowns it caused have had a huge effect on the world that we’re yet to see the true impact of.
Elsewhere, the mobile revolution and increased reliance on and engagement with on-demand technology, communications and entertainment have fuelled a growth in tech industries and people’s reliance on on-the-go content. Streaming platforms like Twitch have seen a huge increase in users and revenue, with the average viewership up by over a million between Q1 and Q2 this year (source: Stream Hatchet).
The boom in the gaming and eSports industry has fed the growth in ePay and direct carrier billing – set to top $37 billion this year – to facilitate subscription services and one-off payments, allowing payments to be processed at the touch of a button. This becomes especially important for businesses offering OTT content that requires payment to access. Customers crave three things when it comes to online purchases; simplicity, security and speed. A hassle-free purchase path encourages repeat purchases, and more payment method options increase the likelihood that a customer will pay for their content.
Research from Forrester’s ‘Predictions 2021: B2C Marketing’ suggests that a lot of companies are going to be focusing on customer retention in 2021 – perhaps a wise strategy. It’s estimated that the cost of acquiring a new customer is around five times what it costs to retain an existing one. For industries still reeling from the effects of covid-19 and with headcounts and budgets still rather uncertain, fostering a loyal customer base can guarantee income.
Mobile messaging and payment processing is becoming a big part of the customer journey for businesses looking to capitalise on this new normal. From promotional messages, texted coupons or offers, delivery updates and payment processing, mobile messaging can be invaluable to a great customer experience that fosters loyalty and repeat purchases. Retail giants and local businesses alike have been utilising text messages for product updates and offers to capitalise on the increase in online sales.
2021 is a year that will no doubt start with a great amount of uncertainty, but the challenges of 2020 have presented new opportunities for businesses who’ve been forced to adapt to the new normal. At MessageCloud, we committed to working with our clients, old and new, to maximise their potential and make the most of business mobile messaging in the new year and beyond.
MessageCloud is a multi-award winning mobile messaging provider. Its cloud-based SMS and messaging products enable companies to set up and manage one-way and two-way communications effortlessly. Plus, it offers products to analyse phone numbers, verify users and accept payments by mobile.
With its range of products, ‘Send’, ‘Numbers’, ‘Verify’, ‘Analyse’ and ‘Pay’, MessageCloud delivers tools that maximise mobile marketing; from virtual numbers to payment systems for carrier billing. And with more than a decade of delivering messages for diverse markets around the globe, it is a service on which you can rely.