For companies seeking to build stronger, more profitable consumer relationships at scale, Mobile Marketing is fast becoming a proven tool. We recently commissioned Luth Research, a research partner of the MMA, to survey marketing thought leaders on the trends, issues and future direction of mobile marketing. The research results are compelling:
- 82% of marketers are using some form of Mobile Marketing;
- 71% of marketers increased their Mobile Marketing budgets for 2012, by an average of more than 20% over 2011;
- The 79% of respondents using Mobile Marketing in their loyalty programs are deriving great value; and
- 51% of respondents state that they receive higher ROI from mobile than traditional marketing programs, while only 15% say they receive a lower ROI.
Today, top marketers are realizing strategic benefits through their Mobile Marketing programs, including increased purchase frequency and average spending, increased brand awareness and attracting new customers. The following six recommendations will help you get the most of what Mobile Marketing can offer your organization.
1. Don’t get stuck doing what you have always done – allocate the right % of your marketing budget to mobile.
While your marketing mix allocation may have been right in the past – holding with the same mix will not guarantee success today. Customer preferences are changing rapidly – especially towards mobile. Assess how the power and ubiquity of mobile can facilitate attaining corporate goals and objectives. And ensure you allocate the appropriate dollars to capture the benefits mobile marketing offers.
2. Success starts with building your mobile opt-in consumer database – so make this a top priority.
Mobile is unlike many other elements of the marketing mix – while it is powerful, it requires consumers to opt-in (a.k.a. providing their express consent) to unleash its power. While response rates for mobile marketing can be 10 times higher – or more – than email or direct marketing, its impact will be felt only if you build a large opt-in consumer database. Allocate the appropriate level of resources to build your database – it will provide a powerful ROI.
3. Leverage the power of mobile marketing across the full customer lifecycle.
Seek ways to apply Mobile Marketing across the entire customer lifecycle – including acquiring, engaging, growing and nurturing customer relationships. Be sure to integrate mobile with your existing traditional approaches to optimize the customer experience.
4. Manage your mobile marketing programs to ensure compliance.
While the rewards for Mobile Marketing are plentiful – it can be a rocky landscape to navigate to reap these rewards. The mobile marketing terrain has its share of regulatory and IP “potholes,” so navigate wisely and/or select a partner that can help you minimize this risk.
5. Understand your customers – and use this information for measuring, analyzing and optimizing your mobile programs.
As usual, customers hold the keys to your success. Ask their preferences, observe their behaviors, capture this vital data and use this intelligence to create and evolve mobile marketing programs that move you ahead of your competitors.
6. Mobile requires more than just technology to succeed. It also requires excellence in strategy, services and execution.
Many organizations scramble to implement SMS, or build a mobile optimized website or deploy location based services for the sake of technology adoption. Ensure you start with what you seek to accomplish – then design and execute a strategy which incorporates technology and know-how. Most organizations lack the expertise to do so completely in-house – so ensure you align with partners who can help provide the strategic and consulting services required for success.
Start your mobile marketing journey today by downloading our whitepaper, Five Best Practices for Building Your Mobile Marketing Opt-In Database.