In class, we've been lately discussing how mobile marketing
is all the rage nowadays in the digital advertising world. While a hot topic,
this channel draws considerably much less marketing spend than traditional
outlets. It's inevitable that consumers will spend a disproportionate amount of
time on mobile devices compared to watching TV or reading print media. Advertising
executives better think ahead and embrace mobile marketing if they wish to
outshine rivals in competing for consumers' mindshare. A recent Mashable piece
identifies "6 Habits of Highly Effective Mobile Marketers" they
should heed. One of the most insightful points it highlights is that
advertisers should position their companies to be more relevant to their
audiences in the mobile channel - effective marketing will mean more than just
pushing ads on smart phone and tablet screens. For example, if I use an app
developed by a retailer that provides me with value-added tools, such as
product reviews and delivery capabilities, I would be better engaged and have a
much more positive impression of its brand. Some notable examples of apps built
by companies that "get it" on my iPhone are:
1) Kayak - lets me track flights in addition to booking
hotel nights and car rentals
2) BofA - allows me to find the nearest ATM while fulfilling
every banking need that comes to mind
3) Amex - offers me relevant deals based on where I swipe my
card and enables me to settle my bills on the phone
Most companies realize that mobile marketing is not to be
ignored, but they fail to form a proactive, holistic approach to taking
advantage of it. While the ROI may be intangible in many cases, the denominator
for mobile is low relative to the amount they allocate to other marketing
campaigns. By investing modest dollar figures in a mobile development center, such
as WalmartLabs, companies could position themselves for substantial upside
potential in this new era of consumer engagement.
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