Presentation on theme: "THREE ESSENTIAL FOCUSES IN MOBILE MARKETING By Eric Koeck Center website: www.fox.temple.edu/gbm."— Presentation transcript:
THREE ESSENTIAL FOCUSES IN MOBILE MARKETING By Eric Koeck Center website: www.fox.temple.edu/gbm
Smartphone Penetration Last Year (2013) 1.40 billion smartphone users Roughly 1/3 of mobile users Roughly 1/5 of world’s population Projected to reach 1.76 billion smartphone users by the end of 2014 (up 25% from 2014). By 2015, it is projected that 15 countries will have greater than 50% smartphone penetration. China has the largest smartphone user base by far in 2014 with 520 million users (Second = USA with 164 million). By 2017 eMarketer projects that over a third of the world’s population and about half of mobile users will have a smartphone (2.73 billion smartphone users).
US adults spent more time on mobile devices than PCs for the first time in 2013. Mobile ad spending has increased by over 100% in each of the past two years. Mobile advertisements are projected to represent over half of all digital ad spending in the US by 2016. By 2018 mobile ad spending is projected to reach $54 billion in the US, which would represent 68.5% of total digital ad spending. Mobile vs. PC Source: eMarketer
Mobile Internet Usage “By the end of this year, we (Yahoo!) will have more mobile traffic than PC traffic. – Marissa Meyer (Yahoo! CEO) In 2010, internet research firm comScore predicted that mobile users would surpass desktop users in 2014.
Mobile Socialization 91% of mobile users go online to socialize compared to 79% of traditional computer users. Instant Message (62%) Forward e-mails (58%), content (40%), and photos (38%) Post comments on social networking sites (45%) Connect to people on social networking sites (43%) Source: Ruder Finn Survey
Network Value Influencer Marketing Word of Mouth Marketing
Network Value at Sony Implementing influencer marketing through a partnership with the social media analytics company Pursway Combines Sony CRM databases with the Pursway Connect Social Relationships database Identifies topic-based Influencers and Noninfluencers within the company’s CRM databases using advanced mathematical algorithms and big data. Pursway’s Sony marketing campaign generated 300 percent more sales than control groups.
Pursway Connect Database Currently contains information on 100 million people in the US Takes everything publicly available online (thousands of sources) and combines everything Facebook Twitter YouTube Skype Blogger Emails Connecting millions of data points Relationships Interests Activities Locations Values
Topic-Based Influencers 15% of Sony’s customers are “Influencers.” On average, 2-3 of an influencer’s friends will buy because of them.
Social Media Popularity The 2014 World Cup is a great example of the power of social media. 88 million people generated more than 280 million interactions (posts, comments, and likes) on Facebook during the World Cup final game on July 13. 350 Million people generated 3 billion interactions about the World Cup on Facebook between June 12 – July 13. 672 million tweets were posted on Twitter about the World Cup throughout the tournament.
Social Media is Mobile By the end of the year mobile ad spending will compromise: 68 percent of Facebook’s revenue 84 percent of Twitter’s revenue More than 70 percent of all time spent on social media occurs on smartphones. Source: CIO.com Facebook Ad Campaigns
Facebook’s New Advertising Focus Facebook’s traditional role in marketing strategies was building brand awareness and engagement (Social CRM). Facebook ad initiatives are shifting to direct-response advertising with a focus on conversion and sales. This presents a greater opportunity for Facebook to use analytics for targeting direct-response advertising at their users (Targeted Marketing).
Continuous Customer Engagement “The ability to interpret and evolve an understanding of an individual in order to engage in a productive manner in any brand interaction” Continuously Connected Customers 71 percent of of smartphone users compare prices at stores. 92 percent of consumers research online and seek opinions via media before a purchase. Source: IBM
1.Efficiency and Effectiveness 2.Increasing Market Diversity 3.New Technologies
Big & Small Data Analytics Big data proffer managers market trends and competitor intelligence, and small data proffer precision targeting at each individual customer level. Coupling the strength of both, managers can uncover unique insights via Big + Small data analytics and customer targeting strategies. By better understanding the “when, where, and how” of targeting strategies, managers can harness the potency of real-time big data to improve micro precise customer value proposition for higher business revenues.
Local Response LocalResponse helps marketers respond to social intent. Targets marketing efforts based on a consumers’ social media activity. They analyze over 13 billion tweets, Facebook posts, Foursquare check-ins, Pinterest pins, and article shares per month.
Possibilities Someone who tweets “I’m hungry” may see an advertisement for McDonalds. LocalResponse works with over 20% of Fortune 500 advertisers.
Predictive Marketing Analytics Customer Lifetime Value = the amount of net profit a customer generates over his or her lifetime Use predictive analytics to estimate the customer lifetime values of customers. Rather than focusing on customers with the lowest cost per acquisition, target customers with the highest value. Find at-risk customers and win them back with outreach campaigns to minimize churn rate.
Three Essential Focuses Network Value Taking Advantage of the Social Factor of Mobile Devices Utilizing Influencers and Word of Mouth Marketing Social Customer Relationship Management Continuously Engaging with Your Customers Improving Customer Satisfaction and Gaining Insight Targeted Marketing Using Big & Small Data to Increase Efficiency and Effectiveness Intent Targeting using Social Media Information