It’s hardly news that mobile phones and other devices are becoming increasingly popular. Many businesses, however, have yet to recognize another, related trend: the explosive growth of mobile marketing. Let’s take a look at why now is the best time to capitalize on this significant marketing development.
According to OpenPR, the mobile marketing market will be worth $102 billion by 2022, with a CAGR (compound annual growth rate) of 22%. This is remarkable growth, especially in these uncertain economic times. In general, mobile marketing refers to any strategy that reaches customers via mobile devices such as smartphones and tablets.
Trends in Mobile Marketing
The fact that more people are using mobile devices, particularly smartphones, is the primary reason for the continued growth of mobile marketing. According to Statista, the global number of smartphone subscriptions currently exceeds 6 billion and is expected to exceed 7.6 billion by 2027.
- Increased Use of Mobile Devices for Shopping
According to Statista, the percentage of retail sales conducted on mobile increased from 3.5% in 2018 to nearly double that, 6.9%, in 2022, with more than 10% expected by 2025. Of course, mobile marketing is about much more than just selling products, but shoppers are becoming more comfortable making purchases from their phones.
People carry their mobile devices with them everywhere. Marketers have a captive audience in smartphone owners, who rarely leave their devices at home. Mobile marketing is ideal for communicating time-sensitive offers like upcoming events, flash sales, and in-store promotions.
- Expansion of 5G
5G technology is a mobile communications industry megatrend that allows for faster downloads, more efficient communication, and support for emerging augmented reality and virtual reality games and other content. According to Global News Wire, the 5G services market, which includes commercial and consumer usage as well as various IoT applications, will reach $1.87 trillion by 2030. This may enable mobile marketers to engage with customers more quickly and with more engaging tools.
- Additional Video Content
The internet has been flooded with videos. The popularity of short videos on apps like TikTok is one of the major sub-trends in video. With video ads and short educational videos, mobile marketers are capitalizing on this trend. Customers can also be sent videos via MMS (multimedia messaging) if they have given permission.
- Geographical Targeting
Customers and prospects can be targeted in real time based on their location. Local businesses, on the other hand, are increasingly realizing the value of targeting people who live nearby. According to Statista, ad spending on location-based campaigns in the United States will exceed $32 billion by 2023, up from $21.4 billion in 2018. Geo-targeting and geo-fencing technologies allow you to send messages or display ads to people who are nearby. A restaurant, for example, could send current specials to a nearby customer.
How to Benefit from Mobile Marketing
We can expect mobile marketing to grow even more as mobile devices become more popular. Developers are constantly creating new apps and features that enable marketers to engage with people in novel ways. Essentially, anything that can be done on a mobile device can be used for marketing. Here are a few ideas for how businesses can capitalize on this growing trend.
- Websites that are mobile-friendly. All websites should now be responsive, which means they should be equally accessible on all devices. Another possibility is to have two websites, one for mobile users and one for laptop/desktop users.
- App-based marketing. Many companies have dedicated apps that keep customers engaged. Coupons, games, and push notifications may be included in apps.
- Text message marketing. This works in the same way that email marketing does. Customers must first give businesses permission to text them. Messages can then be used to promote products and services, confirm appointments, send polls and surveys, and many other things.
- Mobile advertisements. Advertisers can specifically target mobile customers using Google, Facebook, and other advertising platforms.
As smartphones and tablets become more popular, mobile marketing is expected to grow even further in 2023 and beyond. Businesses can customize their mobile strategy to meet the needs of their customers and industry. As with any type of marketing, it’s critical to test your results and adjust your strategy as needed.