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Mobile Technology is Reshaping Small Business

A recent report conducted by AT&T and the Small Business & Entrepreneurship (SBE) Council, a nonprofit group that promotes entrepreneurship and small business, small business owners have netted $67.5 billion a year from implementing smart phones and tablets in their day to day business activities.

Mobile technology is saving businesses lots of money, as well as time. According to the survey. Smart phones are saving business owners $32.3 billion dollars annually. As well as around 1.24 billion hours of valuable time. Tablets and other mobile devices are also proving beneficial.

The survey also revealed that small business owners aren’t working any less, but are simply making better use of their time by deploying mobile technology and applying mobile skills to their business dealings. They have implemented mobile and smart phone use into their every day business dealings and are enjoying more productive time as well as additional revenues as a result.

How Mobile Technology Saves Businesses Billions

A staggering 94% of small businesses are using smart phones and other devices to conduct their business.

These businesses haven’t just jumped on a trend. Switching to smart phones are saving businesses to the tune of the billions every year.

According to a survey done by AT&T and the Small Business & Entrepreneurship Council, over the past year small businesses have saved $67.5 billion by using mobile apps, tablets, smart phones and other devices to conduct their every day business. Smart phones alone saved business owners $32.3 billion last year.

The survey also showed that smart phones save business owners time. A lot of it, in fact. Business owners saved 1.24 billion hours last year by conducting their business via smart phone.

Tablets are also huge time and money savers, saving 754.2 hours and $19.6 billion for business owners. Respectively. Mobile apps saved business owners 599.5 million hours and around $15.6 billion last year. Not too shabby.

SBE Council President and CEO Karen Kerrigan said, “Clearly, we are at a point where entrepreneurs now look first to communications technologies and innovations for solutions to improve productivity, cut costs and better manage and engage with customers.” She went on to say, “That is time and money that can go back into driving sales and innovating the marketplace.”

Mobile App Usage Continues To Increase Every Single Day

Mobile Advertising platform Flurry has released new data about mobile app users, and none of it is too terribly surprising. The statistics continue to show that app users are spending more and more time accessing mobile data, and that mobile apps are the way of the future for most successful businesses.

A new term has emerged from the study of mobile app data – according to Flurry, a “whale” is a mobile app power user, a person who launches a particular app 60 or more times a day. The average app user only launches a particular app 10 times a day.

Or as Forbes puts it, “Flurry has defined a ‘mobile addict’“.

Does your business have an app that caters to “whales”?

It won’t surprise anyone that the number of people relying on apps, and becoming “whales” is on the rise. Nor will it be a shock that the number of businesses developing and introducing apps is increasing, too. That is simply the law of supply and demand. Flurry’s numbers support it – as of March of this year, there were 176 million “whales” in the U.S. That is a 123% increase from last year. Regular app users (non-”whales”, who use apps 16 times or less per day), and “super users” (who used apps upwards of 16 but less than 60 times a day) were also on the rise, at 23% and 55%, respectively.

The Mobile App Boom Continues To Grow

Experts in the industry are suddenly throwing around the term “mobile app revolution”, saying that the unprecedented explosion of the mobile app market is comparable to the industrial revolution. It seems mind-boggling, but it’s true.

The numbers don’t lie. Nearly 103 billion apps were downloaded last year, which was up by 59% from the previous year.

Those numbers will only grow exponentially for 2014. With 86% of Americans owning a smart phone, and millions of others owning secondary devices like tablets and iPods, the demand for functional apps is only going to get larger.

32% Of All Online Purchases Are Made With A Mobile Device

No one can deny the rapid rate in which Mobile Commerce is growing.

A recent report from comScore showed that online retail spending had grown by 14% last year, while total consumer retail spending had only grown by single digits. At the moment, most online spending is still happening over desktop and laptop computers, but that is expected to change, and soon, according to recent data from the U.S. Census and other sources.

Mobile Online Spending is the Way of the Future.

People might still be using their computers to buy online, but they won’t be for much longer. According to Digiday, commerce is one of the industries that will be most affected by growing mobile platforms. According to a forecast by Goldman Sachs, global e-commerce is expected to grow to $638 billion by 2018. Goldman also asserts that it will be tablets rather than smart phones that will be the primary source of online spending.

Currently, 32% of all online purchases are made with a mobile device.

With something like 86% of mobile time being spent on apps, it only makes sense that many of these purchases are being done through apps. More and more companies are utilizing apps and mobile-optimized websites to allow their customer to pay for goods and services.

Mobile App Reservations Made Easy

According to a recent report, restaurants are getting 12% of their bookings online, and a third of that comes from mobile devices.

It isn’t just restaurants, either. Realtors, health related services, salons, and a huge selection of other industries are jumping on board, offering mobile appointments and reservations to their customers. It allows a person to take their schedule into their own hands, choosing and booking their own time. A person is much more likely to log in quickly to an app and make an appointment than they are to dial a number and spend five minutes or more on the phone, trying to book a reservation.

It’s all about ease and convenience.

By offering mobile reservations, you remove several obstacles – customers won’t have to spend time googling or looking up phone numbers, dialing, waiting for an answer, waiting on hold, having to find a quiet place to make the call, etc. It might not be a big deal to everyone, but some people really are that busy. Taking those obstacles out of booking an appointment will give you a distinct advantage to those people.

Why not add a mobile reservation or appointment feature to your app? Register to Reservoir Apps today!  You have a 14 day trial account!

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