Recent research published in American Life shows that more than nine out of ten adults in the US own a mobile phone. Over 50% of them own a smart phone. The mobile economy is in the middle of a huge boom, and marketing managers are competing furiously for consumers’ attention.
In order to keep pace with a rapidly expanding market, it's vital to optimize your mobile marketing campaign using response analysis. Unlike other forms of marketing, mobile strategies have built-in, detailed analytics reporting and tracking - highly effective tools for helping you decide how to spread your budget. Before overhauling your budget, take into account a few vital statistics on the current state of mobile technology:
A recent Flurry report states that smartphone users are spending more time on apps than the average web user spends online.They are spending more on apps, which is why creating your own app is such a smart move. Pew Research indicates more than 50% of cell phone users download apps to their phones. It's important to start engaging the growing market with exciting, attractive, user-friendly apps.
Mobile advertising is another key componenet of any successful campaign. According to one former JP Morgan analyst, over 50% of Facebook’s total ad revenue in the final quarter of 2013 was earned through mobile advertising. In 2014, that percentage is forecast to rise to 60% of total ad revenue. And Twitter announced that some 70% of its revenue came from mobile advertising. Follow suit if you want to think big.
According to a 2010 study conducted by the Direct Marketing Association, SMS text marketing is far more successful at reaching an audience, with mass text campaigns converting at an average rate of 8.2% (compared to email and direct mail conversion rates which are typically around 1.7%). More than 90% of texts are opened, compared to email open rates of between 10 and 20 percent.
It's quite clear that the ability to improve users experiences is one of the most appealing facets of mobile marketing. Mobile has fast become one of the most intimate, personalized methods of engaging with customers. The growing mobile economy shows just how many consumers have bought into this idea.