Are retailers ‘missing the boat’ in driving revenue? November 17, 2010Posted by StrategicGrowth in marketing strategies, mobile, mobile coupons, Mobile Marketing, Strategic Growth Concepts.
Tags: advertising, cellular phones, marketing, marketing strategies, mobile advertising, mobile commerce, mobile in retail, Mobile Marketing, mobile phones, mobile technology optimization, Strategic Growth Concepts
A recent MediaPost Mobile Insider article by Steve Smith makes the bold statement, “friendly reminder to retailers: Your customers are way, way ahead of you when it comes to using mobile as a resource.”
As someone who regularly works in the Mobile space to help clients develop and implement their mobile strategies, I have to say, he’s quite correct. Study after study indicates that consumers are heavily embracing the use of mobile technology, and are interested in being able to utilize their mobile devices to find convenience and improve the productivity of their lives. As more and more demands are made on their time, consumers are seeking ways to engage with retailers in ways that are convenient for them; chief among those methods of engagement is mobile.
Unfortunately, the vast majority of retailers – large and small – have yet to catch on. Smith cites new research from Brandanywhere’s new Mobile Omnibus Study, which polled 7,000 sites on 10 devices, and found that only 4.8% of U.S. retailers had mobile-specific Web sites. The top-tier retailers are faring slightly better, but not well. Almost 23% of the major retailers, as defined by traffic levels from Alexa, had mobile Web sites. When broken down by verticals, the results across all merchants are even worse. While auto parts retailers (20.78% with mobile Web sites) and auto dealerships (15.66%) were relatively more mobile-ready by comparison, department stores (3.41%), clothing and shoe stores (1.61%) and grocery stores (1.60%) were pathetic.
Smith indicates that according to Dan Flanegan, Managing Partner, Brandanywhere, the big disconnect is with consumers who say they would give preference to retailers that had mobile presence. His company partnered with Luth to poll over 1,000 consumers on whether a brand’s mobile-readiness affected purchasing decisions. “One in two consumers would give preference based on whether the retailer has a mobile site,” he says. “It indexes even higher with higher-value purchases. There is a big opportunity retailers can grab onto.”
Luth and Brandanywhere also asked how consumers prioritize the functions they most need on a retailer’s mobile presence. Interestingly, transactions were not among the most popular features. Foremost, they wanted to know about the special offers and coupons available – tools that could help them shop smarter and more cost-effectively. The second most desired feature was product pricing. Store location came third, followed by product information.
According to Smith, “Brandanywhere developed their Indexer to help agencies and their clients better understand how their digital presence is being seen across devices. The main focus was on the mobile Web, where people are inclined to type in a familiar branded URL and hope for a desirable result.” Smith further explains, “For years the .mobi extension struggled to become the commonplace suffix for all things mobile in the minds of consumers. In many cases the brands ended up creating m.brandname URLs instead. However, the best-case scenario is having a reliable redirect at the branded URL that kicks phones over to a mobile-ready version of the site. But as Brandanywhere’s research shows, this reasonable expectation among mobile users is not being met.”
So, we ask you, ARE retailers missing the boat in driving revenue? Our experience at Strategic Growth Concepts, the Brandanywhere study, and many other studies indicate an absolute YES!
Retailers – large and small – must begin to understand that consumers EXPECT them to be mobile. They EXPECT to communicate with them via mobile, and they EXPECT retailers to make their lives easier by enabling them to obtain information about and from their firms via mobile.
So why aren’t they mobile? My experience in talking to businesses about mobile has led me to several conclusions:
- they assume it’s cost-prohibitive and that if they don’t have a substantial budget to invest in their mobile effort that they won’t be able to enter the mobile space. THEY’RE WRONG!
- they don’t know where to start. WE CAN HELP!
- they assume it’s extremely complicated to get started and that it requires massive amounts of time and effort. AGAIN, THEY’RE WRONG!
- they assume mobile is just a passing fad and it will soon lose the interest of consumers, and that they’ll be able to be glad they didn’t waste their time and money getting involved in it. THEY COULDN’T BE MORE WRONG!
So let’s be clear, consumers have spoken; study after study indicates that mobile will continue to grow substantially – particularly in the next 3 – 5 years – and will become a major driver of our economy. Those that do their homework and start integrating Mobile Technology into their operational and marketing strategies now will find themselves achieving substantial market share increases over their competitors who choose to ignore Mobile.
Which will you be – the retailer who embraces mobile and reaps the benefit? Or the retailer who conducts business as usual – and gets left behind?
The author, Linda Daichendt, is Founder, CEO and Managing Consultant for Strategic Growth Concepts, a marketing / management consulting firm focused on start-up, small and mid-sized businesses. Areas of specialization include: Mobile Technology Optimization and Marketing, Social Media Marketing, and Virtual Events production. Linda is a recognized small business marketing expert with 20+ years of experience in a wide variety of industries.
Linda is available for consultation on Mobile Technology Optimization and Marketing and other topics, and can be contacted at Linda@StrategicGrowthConcepts.com. The company website can be viewed at www.StrategicGrowthConcepts.com . For more information on Mobile Marketing please visit the Mobile Marketing section of the Strategic Growth Concepts website.
Wondering How Mobile Marketing Works? Let ‘The Mobile Mavens’ Help! November 15, 2010Posted by StrategicGrowth in marketing strategies, mobile, Mobile Marketing, The Mobile Marketing Review.
Tags: Mobile Marketing, The Mobile Marketing Review, The Mobile Mavens
If you’re like a lot of small business owners these days, you’re hearing a lot about Mobile Marketing and wondering if it has any value for you and your business. You’ve probably heard the Mobile success stories that are all over social media, but that doesn’t really tell you how to mount an effective Mobile campaign does it?
If you’re interested in learning what businesses throughout North America and around the world are doing with Mobile Marketing – and how you can benefit from others’ experience, please join ‘The Mobile Mavens’ on the The Mobile Marketing Review. From idea conception, to tie-ins with other marketing mediums, to the opt-in messages they’re using and how to make them most effective, as well as the results they’re getting. You can follow ‘The Mobile Mavens’ on each show as they evaluate Mobile campaigns from businesses small and large around the globe, and gain many take-a-ways that you can put to use in your own Mobile campaigns!
And, if you’re already using Mobile Marketing to promote your business, the Mavens are currently on the search for their next featured campaign to review. If you would like your company’s Mobile campaign to be considered for inclusion on the show be sure to submit it to the The Mobile Marketing Review.
The News Rules for Mobile Ads in 2011 November 10, 2010Posted by StrategicGrowth in mobile, Mobile Marketing.
Tags: AdMob, Apple, BIA's Kelsey Group, Borrell Associates, Google, Greystripe, iAds, mobile advertising, mobile strategy, mobile web
by Michael Chang is the founder and CEO of Greystripe, a mobile ad network.
The mobile market is in a state of hyper growth and is reinventing itself almost every quarter thanks to new innovations, better data, and compelling results based on billions upon billions of ad impressions.
As we look ahead to 2011, here are five new rules for brand advertisers as they consider how to integrate mobile marketing into their overall strategy.
1. Mobile display is a necessary component of every brand’s marketing strategy and will continue to outpace mobile search.
Mobile search has received a lot of attention lately, with predictions from BIA’s Kelsey Group that it will grow to a $3.1 billion industry by 2013. Search is large and growing, but display advertising is growing at an even faster pace. In app ads alone are expected to reach $8 billion by 2015, according to Borrell Associates. Search ads have an important place in the mobile market, but they will never replace display ads. So don’t make a quick move by putting all your valuable advertising eggs into mobile search.
2. Don’t rely on Google and Apple to drive innovation.
We know all about the two big hitters in the mobile advertising sphere: Google’s AdMob and Apple’s iAds. Google recently announced a forecasted $1 billion in annual revenue from its mobile ads. But just because these brand names are littered all over your favorite tech blogs doesn’t mean they are the only players. Google and Apple are big, but independents are flourishing – and they’re bringing unique tools and benefits to the landscape. Independents can focus on the needs of each marketer or brand, without being distracted by competing goals like handset sales and search revenue. Mobile advertising is about audience (reach, targeting, content) and engagement (format and creative), and the independents deliver both large audiences and proven, rich-media creatives across platforms.
3. Don’t underestimate the importance of the mobile Web.
Since the iPhone launched, it has been all about apps. All the information you needed was directly at your fingertips with a simple tap. Simple. Easy. No http://www.this or Google-search-that. Naturally, mobile ads followed – bringing advertising content into apps and direct to the consumer. While apps have (and will) continued to grow in popularity and ubiquity, the addition of viable iPhone competitors have reinvigorated the importance of the mobile Web. The mobile Web addresses fragmentation across platforms; rather than build multiple apps for multiple devices, developers can build a single, mobile-optimized Website. According to comScore, there are more smartphone users accessing the mobile Web (34.5 percent) than apps (32.3 percent). The number of users accessing the mobile Web is growing faster (8.2 percent from May to August) than apps (7.7 percent) as well. Even popular existing apps, such as YouTube, are pushing their users toward the mobile Web. Don’t miss the opportunity to advertise on the mobile Web by being totally app-centric. In-app ads may currently be claiming most of the attention, but the mobile Web is delivering results to marketers too. Which brings me to my next point…
4. Mobile Web ads need to be as engaging as in-app ads.
When you think about ads on the mobile Web, you’re probably imagining boring, static banner ads. Apple’s iAds drew attention to the potential for immersive mobile advertising in app. Most mobile Web ads have remained blink-and-you’ll-miss-it boring. That is all changing – the same eye-popping immersive ads can be delivered to the mobile Web, to all smartphone users across platoforms. Advertisers and brands need to ensure that they’re engaging their audience everywhere, and that means creating exciting ads both in app and on the mobile Web.
5. New mobile ad companies must outpace consolidations for brand advertisers to reap maximum value from mobile advertising.
There have been a number of high-profile consolidations among mobile ad networks: Apple bought Quattro Wireless, Google bought AdMob. Despite this trend, the market isn’t headed toward consolidation. In fact, nearly the opposite is true. A slew of new mobile advertising startups are taking off in areas that have yet to meaningfully make the way to mobile. Some will have models in the online world and address needs for better targeting, tracking and optimization. Others are mobile specific, centered on location, format and content discovery. There is no doubt that we will continue to see mergers and acquisitions – but the space is still in its infancy and brands will benefit from the variety of new innovators in order to maximize value.