The Power of Mobile Data in a Data-Centric World
Modern marketing is fully embracing the explosive emergence of mobile-based consumer data. Because of its ability to capture a more accurate snapshot of when consumers are seeking out a particular company–or its products and services–mobile data has created a step-change in how marketers are crafting and delivering their message. Consumers are seeing this change manifest itself into today’s highest performing omnichannel strategies; which is connecting them with the right message, through the right channel, and most critically… at the right time.
It’s estimated that by 2020 more than 80 percent of adults worldwide will have mobile devices. This is going to continue to drive up social media usage, increased families with multiple devices, and even more data for marketers to utilize to better connect with consumers. Smartphones and tablets have given consumers real strength in terms of providing them with multiple platforms to access businesses, for finding information on products and services, and to even purchase those items.
What Do the Numbers Say?
How much data the world currently uses is creeping up, rising from 7 exabytes per month in 2016 to 11 exabytes per month in 2017, with a predicted increase to 17 exabytes per month in 2018 (one exabyte is one quintillion bytes). However, that number could increase exponentially to 49 exabytes per month in 2021.
According to a survey developed by App Annie, worldwide app downloads in 2016 exceeded 90 billion (an increase of more than 13 billion). During this time, the number of hours that consumers spent using these apps boomed by more than 150 billion hours to almost 900 billion hours. While this will add an incredible amount of data for marketers to sift through, it will also lead to more accurate, relevant marketing lists that will allow businesses to reach out and connect with consumers at the right time, in the right way.
“Increasing the quality of sales leads, improving the quality of sales lead data, improving prospecting list accuracy, territory planning, win rates and decision maker engagement strategies are all areas where big data is making a contribution to sales today.” said Forbes’ Contributor Louis Columbus.
What Does This Mean For Marketers?
What this information will allow marketers to do is to gain better insight into when, where, and how consumers are spending money. It also empowers businesses with the means to evaluate the performance of their product and services in the market; such as determining pricing and placement.
The number of devices consumers have access to is increasing; the number of apps being downloaded and the time spent on them is increasing; and marketing dollars used in the mobile space are increasing; all because of how quickly consumers are incorporating new technology into their lives. Generation Z is being raised with devices in their hands while millennials perpetually push technology and app trends (such as boosting Instagram, Facebook, Twitter to new heights). It has become obvious that with such an integration of technology into our daily lives, marketers are going to be inundated with information about its consumers from across multiple channels in order to connect with them with relevant and timely offers.
The Emergence of Life Event Marketing
It has become apparent that the insights from mobile data can provide businesses with opportunities for identifying when consumers are experiencing a significant life event. If a particular consumer has entered into a fairly monumental life phase (which usually involves large, complex purchases) chances are they’re using several apps or platforms to access the products and services associated with these events. This is valuable information for marketers, which is reflected in a study conducted by Royal Mail Data Services. In 2014, only 15 percent of marketers surveyed saw life events as a new sales opportunity, 32 percent surveyed said those events provided a reason to engage with customers. In just a year, those numbers jumped to 50 percent and 70 percent, respectively, indicating how marketers were viewing these particular moments to connect with consumers.
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