Why You Can’t always stick with Mobile Marketing
The standard practices of marketing are much more nuanced than people would like to think it is. It is more than just coming up with a bunch of slogans and slapping them all over in hopes of getting enough people to buy their product. In fact, if you were to summarize the definition of marketing as a practice, you have smaller definitions that make them up as a whole.
There are “5 P’s” that make up the definition of marketing. Promotion, place, price, product, and people. Each “P” needs to be kept in the minds of marketers while creating and executing an advertising campaign. Today, I am going to focus on the Promotion part of the “P’s”.
We all saw this coming. People have lectured on this subject for years. Hell, even us, a small Huntsville marketing company, called it over a year ago, when we were preaching incessantly about mobile-friendly websites on both our blog and our radio show. However, this headline has got me to thinking about something else. Most of that money is a waste.
Rising Trends in Mobile Advertising
Forbes. “Mobile Advertising Will Drive 75% Of All Digital Ad Spend In 2018: Here’s What’s Changing”. 75% of America’s digital advertising budget is being spent on mobile advertising. 75%. That’s a lot of revenue for one advertising platform.
Because not all businesses need to advertise through mobile. Some don’t even need a website.
I know, it sounds horrible for a digital marketing company to say, but there is a reason I am saying it.
No Marketing Platform is a One Size Fits All Deal
The only guaranteed advertising tactic that will work to some extent for all products and services are word of mouth. Period. But you still need to get people through the door for that to happen. And in order to do that, you need to find the right way to reach your audience. Advertising through Mobile devices seems like a lucrative venture. However, there is an important thing you need to realize about mobile devices and marketing. Not everyone owns a mobile device and not everybody uses their mobile device in the same way.
The current American Population, as of 2017, is 326,766,748. For the sake of ease, I am rounding the number up to 327 Million. According to the latest census, 77% of Americans own a smartphone, so that is 252 lowered to million.
In early 2017, a study was done what people used their mobile devices for. 55% of mobile users use social media, where, let’s face it, most of the ad revenue is going towards these days. This lowers the number further to 138 million. That excludes 188 million potential targets customers for your business alone.
The 138 million is a lot of people who will see your campaign but there are other factors that have to be taken into consideration in order to have your marketing money well spent. You need to account for things like the age range of your customer base, how much spending power they have, and if they have a quick and easy way to buy your product or service.
This can either narrow the numbers down even further and it could make your marketing campaign flop if you’re getting too few returns on your investment.
So Who Should Spend Money on Mobile Advertising?
- Businesses with an Online Store
Businesses that have an online store are more likely to succeed with mobile campaigns than purely physical stores. This is because it decreases the amount of time it takes for a customer to make a purchase decision, leaving little room for them to change their minds. The quicker they can access your product, the better.
- Businesses With a Target Demographic of a Younger Generation
Younger generations are more equipped with the skillset of handling technology, and see it more as a necessity since they haven’t lived long in a world without it. They have learned to utilize technology as part of their daily lives, so you are much more likely to reach them with a mobile ad than you were for older generations.
- Businesses Involve Travel and Entertainment
They get the highest click-through response rate at 60%. I think this has to do with the correlation of both escapism through leisure time in browsing social media, and the Gen X/Millennial need to experience new things.
- Businesses with a Concise and Condensed Message
If your business has a short, simple message that states what it is, where it is, and why it is here then you are more likely to succeed than ads long-winded messages. The attention span of mobile users are short since they are both always on the go, and live a fast-paced lifestyle.