Omnichannel comms solutions firm Mitto released new research exploring consumer behaviors and communication preferences when interacting with ecommerce brands. The survey revealed that 90 percent of consumers find it important for brands to interact with them on their preferred channels, whether that is SMS, social media or chat apps.
As ecommerce brands work to meet consumers’ mobile commerce and payments demands, the research shows they can benefit from integrating fintech solutions and an omnichannel strategy that enables immediate and seamless interactions on a variety of communication channels.
Mitto found that the type of interaction the customer is having with a brand influences the preferred communications channel. For quick questions or confirmations, including two-factor authentication (2FA), 46 percent of survey respondents favored text messaging over email. This number was even higher when looking at Generation Z and Millennials as more than two-thirds preferred SMS.
“The level of communication that consumers are requiring from brands can only be completed successfully with a full omnichannel strategy,” said Andrea Giacomini, CEO of Mitto, in a news release. “Through the use of omnichannel communications, ecommerce brands can meet customers where they are already spending their time. By going one step further and integrating fintech and payment tools that already leverage popular digital communications channels like SMS and WhatsApp, ecommerce brands can deliver a positive experience throughout the consumers’ entire journey.”
Fintech solutions enable fast and secure ecommerce payments
The option for real-time payments is important to more than 40 percent of consumers. Similarly, third-party integration within payment platforms, including PayPal or Apple Pay, is vital as this made it more likely that 41 percent of consumers would make a purchase. But these payments need to be immediate and secure, which brands can facilitate via SMS and other digital channels:
- Speed is especially critical when it comes to 2FA as 58 percent of consumers expect a 2FA text message immediately and if they have to wait to receive this, 41 percent would consider abandoning their purchase.
- 86 percent of individuals would prefer that brands confirm their identities for large purchases, with 47 percent wanting confirmation for all purchases greater than $200.
- More than half believe SMS is the best way to communicate during these confirmation exchanges.
The importance of SMS for ecommerce
As the level of ecommerce continues to increase, pay-by-link options remain an untapped market as less than half of respondents have used this method, but those who have reported it to be both quick and easy. SMS is the preferred channel for pay-by-link payments with 30 percent favoring this over email due to faster response times, which was a priority for 27 percent of all respondents and almost 70 percent of Generation Z and Millennials.
These findings are based on a Pollfish survey of 1,000 Americans. The survey ran in May 2022.