We live in a world that has more mobile subscriptions than the human population itself! So any marketer, who doesn’t build his game plan and marketing strategy around it, will be truly missing out!
Mobile advertising has simply revolutionized marketing campaigns. It lends itself to being an ideal receptacle for social media apps, increases customer engagement exponentially, is cost-effective and is a great enabler of personalized customer relationships.
Mobile apps take this even further. Since customers are on some mobile app or the other pretty much all the time, marketing on this, gives brands a direct access to their customers almost in real time. It enables geo-targeting – so marketers can send location-specific messages that are timely and relevant.
With all the information about the customer that brands are able to get about their customers through their mobile apps, highly personalized and relevant messaging is possible, moving them along the funnel and increasing conversions.
Competition is heating up in the mobile app space – with every brand and marketer wanting a piece of that pie. This makes it increasingly difficult for marketers and brands to get customer attention and make them convert as easily as they did earlier.
With more and more mobile apps filling up and fighting for customer attention, a keen marketing strategy is needed for brands to ensure that their app is a winner – in terms of revenue. As the momentum builds, it is necessary for brands and marketers to have a multi-faceted monetization strategy in place. As the report has indicated - a big chunk of dollars comes from advertising – but also from in-app purchases.
A good strategy will blend both – one time purchase, in app purchases, and paid upgrades on the one hand, with advertising dollars on the other. One can even take the cue from players like YouTube who have subscribers pay to see no ads!
All of this will work, and how!