These large companies are investing heavily in mobile marketing campaigns and they are doing so because business intelligence findings support this marketing spend. This article will not directly discuss the data, and if you are interested in that information look for 'near-term' discussions. But, aren't small to medium businesses or SMB(s) are the backbone of the American economy? Indeed. So adaptability to changing elements within business environments is critical. One critical environmental factor to watch would be, the changing mobile ecosystem.
Small to Medium Businesses
I often tell the small business owner or SBO they don't have to spend a significant percentage of their budgets on marketing research and analysis. The reason is to remain adaptable and agile while implementing the best strategy to survive. Most SMBs understand how to get things done at a level to which they are accustomed.
For instance, if a firms revenue allows for a modest profit, the owners goal usually is to maintain this revenue level. Growth is not as important to the small business owner as compared to the publicly traded MNC. The SBO still needs to perform their due diligence and make appropriate decisions based on available actionable data.
Considering previous post discussions related to adoption and diffusion of new products and services the average SMB uses the delay tactic to optimize spending dollars. Early adopters many times, experience difficulties in newer techniques or products and services. Newer services can possess problems not yet discovered and can decrease a firms effectiveness for instance by crippling supply chain. Even a lack of training or available talent can slow efficiency that results in decreased revenues and an eroding customer base.
Monitor Behaviors
The key to sustainable marketing is to monitor the behaviors of your customers. No, I am not saying you need to stalk or spy on your customers but monitor behaviors through secondary data and through website analytics. Your website can tell you many things about how traffic is driven to your SMB. If you have yet to establish a web presence, it's time!
The analysis you can perform from the available data can give you some insights as to how much of your business is 'mobile.' The number of cellular devices on the planet is staggering. The markets in Asia and Africa are said to be the next big growth markets for mobile, they can be an indicator of future conditions in our own market. The mobile user in Africa uses mobile devices instead of desk or laptops because the single device is more cost effective than having two or three devices to maintain.
Looking for Indicators
As the US economy continues to limp along people will continue to find ways to communicate at lower costs. Whether this means cutting back on some services to facilitate others that remains to be seen. But even the most economically challenged consumers it seems have mobile devices. If your customers have devices, and I'm willing to say most do, then you need to consider ways to increase engagement to maintain customer loyalty.
A customer that receives an SMS message from your competitor just might try the competitors services or products. That is the exact scenario you want to avoid. Customer defection should be your first priority to defend against.
Remember, you want to show your customers that you are the expert in the services or products you offer. One part of being an expert or leader in your industry is using emerging marketing channels to drive existing and new traffic. Impress your clients and inform them of the new ways you will contact them making things easier. Modify and adapt your marketing campaigns to fit the evolving local market. Your customers will remain loyal for your efforts!
Mobile Marketing Mash -
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