The engine of marketing effectiveness in mobile really comes down to the immediacy of the platform. The “right here, right now” can trigger a spike in conversions — increasing them by more than 20% when a location element is added to a campaign.
Consumers and local businesses alike are relying on mobile devices to conduct business and make transactions. At the upcoming Street Fight Summit West 2016, we’ll put a spotlight on some of the developments that are bringing about new and better ways of marketing to consumers — and looking at areas that are creating challenges, as well.
New technologies for collecting data are a key topic: “Retailers and brands are starting to use beacons to collect data and do online retargeting. And to be frank, I think we have just seen the tip of the iceberg. Beacon technology is so powerful because you can find out more and more about what consumers do in the real world. And so I think this what happens with new technologies — new tech fosters new tech,” says Thomas Walle Jensen, CEO of Unacast.
What’s most exciting to us is that even household mobile brands continue to seek to understand how others are facing down challenges as the market and technologies evolve: “I want to understand how attendees are solving their customers’ business problems through data, and personalization, and customer relationship management. Profit margins are extremely tight in our customer base; every incremental innovation on behalf of helping them understand and operate their business better is truly a service provided,” says Catherine Porter, SVP-strategy at OpenTable.
Perhaps the biggest challenge in a new and still-evolving industry is that there are many players trying to solve the same problem: “The big problem that’s happening today is you have six, eight, even ten different players that are all more or less selling the same thing. If everybody’s selling the same thing, and all of the businesses are listed on all of the same directories, then nobody really wins. If every plumber in San Francisco is listed on Google, when consumers look for a plumber they’re going to find every single one. It’s not helping them make a decision,” says Mohanad El-Barachi, CEO of SweetIQ.
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