Latest Innovations In Social & Mobile Marketing
Over the past years, the rapidly changing consumer behaviour has led to significant evolution in the social and mobile landscapes. In today’s digital marketing world, the consumer is the key focus. In today’s world, consumers are digitally active 24×7 and are merely an audience. How a brand converts this audience into consumers is where the innovation lies. Thus, brands are consistently focusing on technology that implements consumer-centric experiences – the key to ROIs. Since, a single consumer is active on various platforms; brands need to customise the messaging & campaign across these multiple platforms to create recall for themselves. All of which leads to a growing need of constant innovation in marketing technology and approach, and demand by businesses for more cost-effectiveness to cope with complex challenges of the social & mobile world.
With the current estimate of mobile internet users in India rising to 130 million - the mobile internet advertising segment has also seen a significant augmentation. 2014 is predicted to be the year of mobile web. Large ecommerce websites like MakeMytrip, Flipkart and other travel and retail brands are seeing ~15%-20% of the transactions coming through mobile already. As a rapidly growing number of consumers use their smartphones and tablets to interact with content on-the-go, mobile advertising has become the medium of choice for marketers globally.
On the other hand, the growth of social media and the marketing potential it has created is phenomenal. Whether we talk about brands, corporate, individuals or political parties everyone feels the need to be digitally active and followed. Video Marketing is the next big thing!YouTube recently announced it now receives 3 billion views per day which is almost equivalent to half the world’s population watching a YouTube video each day. Facebook’s recent acquisition of whatsapp is expected to give an all-together new dimension to social and mobile marketing and how they reach out to audiences.
With the adoption of smartphones swelling-up worldwide, we are witnessing innovations across the mobile ad space including cross platform and cross-device advertising poised to be the next big thing to influence mobile advertising. Cross device advertising targets users on their desktops, and trails them to their smartphones and other mobile devices. Advertisers can also follow users across platforms—iOS, Windows, and Android—and retarget them with similar advertisements. Geo-targeting strategies position mobile as the most favourable channel for ad relevancy— these features are set to make the mobile advertising market more efficient, more influential, and undoubtedly more rewarding.
The next phase will be driven by shift towards “Audience Marketing” rather than “Publisher Marketing”. What it means is that marketers and brands will look for means to target the defined audience, irrespective of the publishing entity he or she is on. For example, in today’s environment, a brand focused on urban male would think of reaching out to cricket publishing sites since majority of the cricket audience can be assumed to be urban male.
Another big mover in this space is Big data & Analytics - that has the power to reach target audiences and customers by harnessing the right information and implementing customised strategies. By leveraging the power of Big Data and Analytics, marketers would be able to increase the targeting of their campaigns both for Mobile and Social. For example, new processing technology like Google’s MapReduce and its open-source equivalent, Hadoop, which came from Yahoo. These let one manage far larger quantities of data than before. At the same time, because Internet companies could collect vast troves of data and had a burning financial incentive to make sense of them, they became the leading users of the latest processing technologies, superseding offline companies that had, in some cases, decades of experience.
Collating, analyzing and leveraging big data allows advertisers to reach their desired target audience by illustrating a comprehensive user atmosphere. This is further used for user profiling and segmentation exercise which helps advertisers to highly target hyper-local ads automatically. Today is the era of sheer mobility driving consumers to search, shop, buy and connect round the clock just with simple clicks and swipes on-the-go.
As more and more people adopt these mediums, innovation here are bound to happen. However, the fragmentation and complexity of the digital ad space means that technology must be used to drive consolidation, in much the same way as it has been used to align other areas of change driven by technology – think CRM and ERP. Marketers need to allocate resources upfront to streamlined open platforms, and explicitly to technology that reduces waste and inefficiencies, not continue to bury tech fees in media buys. Marketers should work with their CIO to create a tech-vetting process that requires incentives aligned with their best interests.
Once marketers find the right mix of technology to simplify the process of digital marketing they don’t need to worry about when or where their ads are served and who they are reaching. They can then focus on the truly difficult, strategic task of creating great customer relationships.
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