We all know about the 4Ps of marketing, Product, Price, Place, Promotion, for tangible goods and 7Ps adding People, Physical evidence and Process for services, but there is an addition to these ‘Ps’ in the new age dynamic business and consumer world which is ‘Palm’, refereeing to the rise of mobiles and how every person is intensively using it. The mobile phone has become a ubiquitous device for all. With all the continuous developments that we see on that single device every passing day, it has become a multi usable, convenient platform for all the consumers, and has opened new avenues for businesses, in terms of not just customer engagement but for marketing their goods and services. According to the data, India ranks second regarding the number of mobile phone users but it also lags the penetration following the percentage of the population. India has surpassed the US to become the 2nd largest smartphone market with over 200 million smartphones. The mobile internet advertisement has grown tremendously over the past few years, in 2013 it showed the mobile internet ad spending in India of 26 million USD which by 2018 is projected to be 943 million USD.
Benefits of Mobile Marketing
1.Cost Efficient :In comparison with the traditional media marketing that includes television, radio, newspaper etc, mobile marketing is much cheaper.
2.Relevant Targeting :Mobile being a personal device, the customer's responses can be tracked easily, which leads to higher accuracy in marketing a product/service than any other traditional media form.
3.Better Connection :Connecting with the customers on their device, helps in better customer engagement.
4.Attention :Being a handheld device, any engagement on the mobile will have a dedicated mindset as the user will not be distracted by other activities.
4.Reach :With more and more people having and being dependent on a mobile; it provides a huge protentional reach. Not only this it can reach to the remotest part of the country.
5.Localised :The GPS in the phone helps to access the consumer’s physical location, giving local businesses a chance to target their audience.
5.Personalised :Mobile allows personalised communication with the customer. Different markets can be shown different ads, according to targeting and different individuals within the same market can also be shown different ads.
Mobile marketing offers a large range of tools that will help the marketer to reach and engage their customers on their devices. They are broadly divided into two parts, which is paid media, owned media or earned by the brand. The paid form of mobile marketing focuses on buying mobile media avenues such as text messaging, call services, display and video ads on various applications. On the other hand owned includes the content, application, a proper campaign and mobile websites. These are created by marketers to have their own mobile space.
Mobile offers dynamic capabilities with the consumer like app-marketing, location-based services, augmented reality and social media marketing which is integrated with the customer's context. Mobile commerce and shopping on mobile devices has and is still in the growing tread. Nowadays all the work that can be done on a laptop or a desktop is done very conveniently in a single handy mobile. It is important to keep in mind that mobile marketing and developing a mobile marketing campaign should be done after a systematic process that includes understanding consumer needs, the marketing objectives, choosing the correct tool, defining the KPIs and finally tracking and analysing the campaign through mobile analytics. One should not forget to take consumer feedback, as it helps in strengthening not just mobile marketing but also the brand.
We at Digital Ozone, are committed to adopt the latest change and also take newer risk and challenges to find what suits them best to our customers. Be it mobile marketing or developing an application, we are more than happy to support and help with all our expertise.