More often than not, increasing spending on mobile technology can be seen as unacceptable expenses on the balance sheet of the CXO, as opposed to the future-proofing investment that it is. Right now, both consumers and producers are undergoing a major paradigm shift around mobile marketing, as mobile devices and the “internet of things” are integrated with our lives. In order to gain influencer buy-in and meet the new market driving growth in consumer spending, here’s the undeniable data you’ll need!
1. Everyone Is Using a Mobile Device (or soon will!)
Currently we are at an inflection point when it comes to global internet behavior. As desktop internet user growth stagnates, mobile internet user growth is consistently increasing, and will overshadow desktop in the coming years. Moving forward, if your global business is looking to attract customers and deliver value online, you can’t afford to ignore the fact that there are more mobile internet users online than desktop.
2. Mobile E-commerce Is Projected At 204 Million Dollars This Year Alone (And Is Projected To Be Nearly Half of All Ecommerce in 2018).
It’s undeniable that mobile ecommerce is already a major percent of global ecommerce. Currently around 27%, mobile ecommerce will climb upward of 65% by the end of the decade. For those currently seeing poor results from mobile conversions and sales, this usually comes down to two core drivers:
- Poor mobile experience– If your website doesn’t resize to fit nicely on a mobile device, it won’t enable customers to learn more and make purchases. The customers will enviably end up leaving unsatisfied, falling into the arms of a competitor, who will gladly reap the benefits then and in the future through mobile SEO. All things being equal, when users have a better customer experience on mobile devices, search engines take notice and will start to show the better results more than those with a hampered experience.
- Older target demographic- As mobile adoption is much higher in teens and millennials, it’s easier to discount the mobile segment for companies with an older target market. While this reasoning is understandable, older target markets are actually adopting mobile devices very quickly. It only follows that this segment will follow the trend and use their devices more often for information gathering, decision making and online purchases, as other segment are already doing.
3. Companies That Monetize Mobile Users Are Flourishing
In the two charts below, the correlation between mobile users and mobile revenue become apparent for the Facebook use case. For them, they understood that surviving as a business meant having to adapt to mobile. After revamping their site and mobile app experience, their mobile ad revenue growth has been driving their success in the market- so much so that a significant portion of their users now only use a mobile device and completely forego the desktop site. By looking at the charts, you’ll see that first comes the mobile users, then comes the mobile revenue.
It’s my belief that companies that fail to adapt to mobile will go the ways of those who failed to adapt to the internet in the late 90’s. Whatever “has work” and what “is working” is irrelevant to this discontinuous technological change, because people are interacting differently now. The value in preemptive planning for mobile is akin to the differences between Amazon and RadioShack. By being proactive as opposed to reactive, the world will be in your hands.
Now that I’ve given my case, share in the comments down below whether you agree or disagree and why.
Originally posted at MITX Innovation Blog