Mobile Marketing and Commerce: Ads, Payments and Rewards Come Together
Yankee Group’s recent report finds that 40 percent of consumers use some form of mobile shopping app or coupons on their phone.
BOSTON, June 12, 2013 /PRNewswire/ — With nearly half of consumers using shopping apps, it’s apparent that mobile is resetting the parameters of marketing and commerce. Mobile devices and apps are beginning to dissolve the boundaries between ad and payment, online and in-store, according to a new Market Vision report from Yankee Group. The report, “Mobile Marketing and Commerce: Optimizing Ads, Transactions and Rewards for a Mobile World,” lays out the current state of mobile marketing and commerce and how Yankee Group sees the puzzle pieces for mobile payments, commerce, advertising, loyalty and engagement falling into place during the next three to five years.
- Mobile loyalty and rewards programs are falling short today. In the next three to five years companies will learn that as mobility takes hold, mobile loyalty programs will be the very foundation of competition.
- Big-name companies look to leverage mobile advertising. There is a battle taking shape in the mobile marketing space led by big-name mobile ecosystem players Facebook and Google. One has the social data to build targeted campaigns, but the other combines reach with strength in multi-channel marketing, location and analytics. Although Facebook is a must-have mobile destination for brands, Google is still set to retain its mobile ad crown.
- MCX will rapidly evolve. Permitted the Mobile Customer Exchange (MCX) can remain on course, we see the initiative harnessing the potential to evolve into a mobile payments powerhouse within the next few years. Industry players must continue to monitor its progress, since those too quick to write it off entirely are likely setting themselves up for failure.
“Mobile devices enable instant communications that can influence shopping behavior,” said Research Director Sheryl Kingstone, co-author of the report. “Because of this shift in consumer touch points, two things are becoming clear: Companies must ensure mobile is integrated across the customer life cycle while also leveraging big data to make communications more intelligent. In terms of the latter, the real-time nature of mobile will allow organizations to contact their customers at a precise moment. And big data analytics platforms will allow them to mine the explosion of information brought on by newer mobile channels. Coaxing relevant insights from the mountain of data will pave the way for intelligent communications.”
About Yankee Group
Yankee Group, a division of The 451 Group, is the preeminent research and advisory firm equipping companies to profit in a mobile world. The core of our content is proprietary research and analytics on the attitudes, behaviors and usage patterns of mobile users. We provide a range of actionable data, insights and advice to marketing, strategy and product executives driving the mobility revolution in leading companies worldwide. Visit www.yankeegroup.com.
SOURCE Yankee Group