Selecting a mCommerce Platform: Evaluating Time to Revenue
One helpful way to look at selecting a mCommerce platform would be to consider the “Time To Revenue” metric. There are a couple paths you can take to deploying a mcommerce platform and each one will have it’s own “time to revenue”.
For example, a responsive web design (RWD) project takes at least three months or more to deploy, and more often than not, requires a “from the ground up” rebuild of your entire eCommerce site. Add the complexity of mobile commerce, and a 2-3 month timeline to outline, develop/program, test and deploy a responsive mobile commerce website seems rather unrealistic. We’d say you are looking at more like a 5-6 month “time to revenue” for RWD.
Another example would be a custom-designed mobile-optimized e-commerce platform. In our direct experience (one of our customer’s coming over to mShopper after a very poor experience with a top custom mobile commerce platform provider), development and deployment took over 7 months including the unexpected snags/delays/costs strewn throughout the process. This timeframe was much longer than excepted and the “time to revenue” was not sufficient for the cost incurred.
A third example would be doing the project in-house. The collective experience of our team through in-house software deployments clearly demonstrates that in-house is by far the slowest “time to revenue” path of any possible solution. Between learning curves for mobile-specific programming requirements and competing team priorities, “time to revenue” is, at minimum, six months (and likely the most costly of all solutions as well).
Our last example would be a rapid “time to revenue” expectation using a mcommerce platform like , which can be implemented in days (not months) using product data feeds. By setting up a product data feed that includes data like pricing, inventory, images, product description, selectors (e.g. size, color), etc., you can pass that information directly into our mStore®, and it will rapidly parse into a functional mobile-based ecommerce store. And with a day of configuring your site through the admin dashboard (and some very minimal tech work), you can sincerely have a mobile commerce site up in less than a week. Mobile commerce platforms that offer an array of API integrations can provide a completely integrated, automated solution in about 2-3 weeks.
“Time to revenue” variances are very meaningful from a project ROI perspective. For a website that averages 300,000 visits per month (20% of which is mobile) with an AOV of $100, we estimate the revenue loss due to sub-optimal conversion rates at $72,000 per month! Try out our online m-commerce ROI calculator.