6 Key Pointers for Marketers as Mobile Becomes Ubiquitous
The use of smartphones and other mobile devices is expanding rapidly with each passing year. More than half of the time that people spend online is spent using mobile devices, and as smartphones become increasingly popular in developing countries, that number can only be expected to rise. With people keeping mobile phones within their arms reach 24x7, it is clear that mobile devices are no longer a secondary belonging for consumers.
What does that mean for marketers? Mobile is no longer a channel to be treated as additional. It commands equal share of attention as other traditionally popular marketing channels, if not more. Moreover, changes in the mobile sphere occur, and usually accepted and adopted by consumers, much rapidly than in any other medium. What the scenario was a year may become totally irrelevant in the year to come. So, marketers constantly need to be looking ahead while capitalizing on current opportunities.
Here is a brief lowdown on the current mobile market scenario and what could be expected in the near future:
1. It’s not about mobile anymore, it’s about mobility
In this age of the expanding reach of IoT, mobile devices can no longer be treated as modes of communication and internet browsing. Mobile devices are now part of a whole, and that demands marketers to change their perspective of mobile as a channel. If the year gone by was an indication, more and more mobile users will opt for location-based services. Marketers therefore need to shift their focus from mobile to consumers’ mobility.
However, according to a blog, only 6% of marketing budgets is dedicated to mobile currently. Thankfully, the same study that found this also predicted that the figure is likely to rise to 16% in the next three years.
2. Consumers expect mobile-specific content
Brands and marketers are more willing than ever to increase their budgets for mobile-specific content. The blog reported a survey of 255 marketers which revealed that they think that there is much scope for improvement in their marketing practices. The respondents rated their overall marketing programs 3.56 and 3.12 (out of 7) respectively for customer engagement and retention. The ratings were even lower for mobile programs, with respondents assigning ratings of 2.74 and 2.64 for its impact on sales and profit. Marketers are therefore trying to push for more investment in order to enhance their mobile-oriented marketing campaigns. In the next three years, mobile advertising spend is expected to increase by 160%.
3. Brands are focusing on mobile media buying
Brands and marketers are gradually shedding the idea of confining mobile in silos. Realizing the potential of mobile, companies are striving to weave mobile marketing, strategies and professionals into the larger organizational fabric. Companies are aggressively buying and selling ads and media content for mobile devices, making it as important as other marketing channels. Second-based advertising, like that on TV, has already started on digital channels as well. Marketers who catch on to the trend early can expect competitive advantage over their counterparts.
4. Commuter data will also become a factor in mobile revenue
A study by Sichuan University, New York University Stern School of Business and Temple University, that was reported in a blog, revealed how rush hour subway commute affects travelers’ buying behavior. The research found that average mobile conversion rate increased to 4.3% when the density of commuters was five people per square meter in the subway train, in comparison to 2.1% when the density was two people per square meter.
Although the advertising, privacy and security regulations vary from country to country, the study has certainly given marketers a new direction to look to. Further research can unfold how travelling, means of transport and commuter density impacts the buyer’s journey, enabling marketers to come up with ideas for harnessing the potential opportunities to increase sales and revenue.
5. Popularity of mobile performing human duties is increasing
Mobile services are already in use for certain customer service and call center functions that were traditionally performed by humans. The finance sector has been at the forefront of leveraging mobile — financial apps and mobile banking are suitable instances in this context. The improved efficiency, cost savings, and other benefits can be expected to drive mobile service replacing humans in other domains as well.
6. Mobile now has organization-wide significance
So far, mobile has been passionately discussed in the marketing sphere. However, as mobile manufacturers continue to enhance the capabilities of the device and expand the scope of is utility, mobile devices have gained prominence for other organizational departments such as customer service, IT and operations as well. The growing significance of mobile across organizations offers an opportunity to marketers to come up with ideas to leverage other departments for more effective marketing practice.
In conclusion, marketers who keep a close eye on the upcoming mobile trends while actively and aggressively capitalizing on the current opportunities, will be able to edge out their competitors.