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Closing the Mobile Marketing Loop Part 1: Is The Mobile Consumer Right For My Business?
Previously, we’ve discussed how to implement a closed loop strategy in digital marketing, and how it allows for not only data-driven results, but also a higher level of trust and goal alignment in the agency-client relationship.
And if there’s one digital marketing channel that’s especially crucial to keep accountable for hard results as the channel continues to evolve, it’s mobile.
Many companies are still hesitant to make mobile a significant part of their customer engagement and acquisition mix. Some of the reasons relate to perceptions of mobile demand being too small or that their target consumer isn’t the mobile consumer. But the numbers tell a different story. More than half of wireless Americans have smartphones, and smartphone penetration is increasing rapidly. Also, smartphone ownership correlates with income and age, as you can see below in the research provided by Nielsen:
And Nielsen data shows similar income correlation for tablets as well:
As you might imagine, mobile shopping varies across demographics and customer segments, as well as by industry and product/service. But the fact is that not only is mobile shopping increasingly common (79% of device owners have purchased via mobile), but it continues to play a larger role in the consumer’s purchase path, whether comparing prices online, searching for deals, or using location-based services to find a physical retail location.
So it’s clear if you don’t have a mobile strategy in play, you’re risking leaving significant opportunity on the table. But as with any emerging opportunity, it’s critical to have the right framework in place to make sure you are spending mobile budget wisely. Enter our friend—the closed loop.
The correct mobile strategy can vary greatly depending on industry and target customer, as we’ll dive into in more detail in part 2 of this mobile series. But by using the closed loop approach, there is a higher likelihood of success regardless of the industry or target customer.
Have a specific aspect of mobile you’d like to see covered in this series? Let us know! We want to make this discussion as relevant as possible for the BIC community.