The Future of Mobile Marketing

 

By the end of 2011 it is projected that there will be 73.3 million smart phone users. It is also predicted that mobile advertising will reach the $1 billion dollar mark, a 48% increase from the amount spent in 2010.
 

 

With so many users and money to be made, what does the future of mobile marketing look like?

One of the key trends we’ve seen as of late is mobile platform optimization. Mobile platform optimization is basically the conversion of a full website to one that is meant to be used on a mobile device. Since the mobile web is still in its infancy, those using their mobile devices to visit such websites are more likely to be more purpose driven or task specific as opposed to those leisurely browsing from PCs.

With that in mind many mobile sites are designed to achieve a task; they have a specific purpose. Mobile sites also take time into consideration; load times, and the time it takes to achieve a task is taken into consideration. Many mobile sites also have the ability to use the location of its user (if permission is granted) to provide recommendations or useful information.

Another trend of the future is location based marketing. Location based marketing allows a marketer to exchange information with a potential customer or user via a given media.

Some marketers might use Bluetooth and infrared. When a device, a smartphone, is within range of the host, the marketer, a request to connect to the device can be made and information exchanged. Information exchanged can be a link to a website or a coupon for a future purchase.

 

Another way information is exchanged between marketer and user is via short codes. Short codes are phone numbers to which users can send a text message to and get something in return. The text messages can be used to send and receive sales promotions, enter competitions, or to generate participation amongst an audience. Short codes can also be used to make payments or donations with the amount being deducted from a prepaid account or billed on a monthly invoice.

How has e-marketing changed your own buying decision process?

ACT NOW! LIMITED QUANTITIES! TODAY ONLY!

These are several phrases that we’ve come accustomed to seeing displayed in advertisements. The fact of the matter is that these and other call to action phrases have changed the way that many, including myself, think about purchases.

When I receive an email from a retailer, for whatever it’s for, I stop to think “Is this something that I need?” or “Is this something that I want” Identifying a need or problem this is the first step in the consumer decision and buying process.

The next step in the consumer buying process would be to search for a solution to the problem or need. However, given the action phrases presented in the e-marketing advertisement we tend to skip a few of those steps (searching for alternate solutions, evaluating options) in what would be considered a logical consumer buying process. Take for example the offerings from sites like Groupon and Living Social. Both of these sites offer the ability to deliver daily deals to you email inbox ranging from half off dinners at local restaurants to deeply discounted exotic vacations. Given that they offer “limited quantities” and you must “act now” to not miss out on the deals many consumers don’t go through the consumer buying decision process.

 
I too have purchased multiple deals from both of these sites. I’ve gone on half off catamaran boat excursions and have dined for half off at a few restaurants. However, some think that these advertisements for deals are like going grocery shopping while being hungry; everything looks appealing. Businesses often entice us, the consumer, with sales to get us in the door, or in this case their sites, but it’s ultimately up to us to evaluate our own position and click on the buy button.

The Death of the Newspaper

What industry will be next to succumb to e-marketing efficiency and death by technology?

I personally believe that it will be print media, more specifically newspapers.  

With the advent of mobile computing and smartphones, daily news has gone main stream and is now readily available. By the time newspapers report the latest news and magazines the latest gossip, it has been tweeted about on Twitter, seen on YouTube, and written on countless blogs on the internet.

According to Direct Marketing News, using data from the Audit Bureau of Circulations, circulation for US daily newspapers fell 8.7% year over year for the six month period ending March 2010. So are people no longer reading newspapers? Or are they getting their information elsewhere? There might be countless reasons for the decline in circulations but the most prominent might be that news is free on the Web.

Jeff Bercovici, from Forbes has stated that magazine and newspaper publishers have begun to invest heavily into online editions of their products. Why is that? Publishers hope to use the digital subscriptions to offset the decrease in circulation revenues. It has been forecasted that revenues from newspapers’ print circulation are to fall from $10.2 billion in 2010 to $9.5 billion in 2015 and continue on a downward trend.

As more media companies transition from print media to online media, large gains are to be made in paid digital circulation segment as forecasted by Pricewaterhouse Coopers. Revenues are set to rise with the popularity of new e-readers such as Amazon’s Kindle, Barnes & Nobles’s NOOK, and Apple’s iPad.

I personally haven’t read a print newspaper since I was in elementary school and had to write reports on current events. So how will newspapers be used in the future? How about extreme couponing and wrapping glass knick-knacks at registers?