The exponential growth in the consumer base for smartphones and tablets is standing proof of the rapid migration of consumers from the world of broadcast, telecast and print media to the digital world. It demonstrates the increasing convergence of the virtual and physical worlds. Juniper’s Digital Retail Marketing Report “Loyalty, Promotions, Coupons & Advertising 2015-2019” has cited the reason for this migration to be the result of timely, targeted, personalized campaigns that enhance customer engagement.
Cashing in on this trend, marketers are utilizing the advancement in analytics technology to create ROI enriched marketing campaigns. A forecast by eMarketer predicts that annual mobile advertising spend is expected to grow by more than two-fold by 2018 amounting to nearly $158.55 billion. This indicates fatter marketing budgets which is likely to grow bigger with time, as according to estimates, the global market share of total digital spends is expected to reach 30% in 2015 (Source: Magna Global).
The following points highlight the impact and opportunity available for marketers today, owing to mobility and analytics:
- Maximized Personalization: Provides marketers with the ability to reach users with mobile internet, at the right place and at the right time. By using analytics, marketers can leverage consumer behavior, i.e. Leverage past activity (declared behavior) and interests (undeclared behavior for inferred conclusions by using predictive analytics.
- Emotional Connect: Content sharing has become easy and ubiquitous with social platforms blurring offline and online interactions. This essentially means brands can facilitate an emotional connection with the end consumer by curating content as per the needs of their target audience. Apart from this, it provides marketers with insights into customer reactions to their products or services providing them with valuable insight into customer preferences.
- Precise targeting: Abundant user data is available in real-time. This provides marketers with the opportunity to identify potential buyers and offer them impactful tailored content across different communication channels.
For marketers to be successful, it will be important to plan seamless digital initiatives with campaigns that capitalize the entire lifecycle across screens and platforms rather than follow a silo model or a fragmented approach.
