Recently an entrepreneur was sharing his thoughts with me on the success rate of adopting new technologies and how it has changed the age-old rite of passage. To prosper, you must look around the emerging opportunities, adapt to the technological wave and convert it to numbers. Never be late to decisions.
The ability to convert ideas to things is the secret of outward success – Henry Ward Beecher
The digital market is changing, it always was disrupt and you need to incorporate new ideas to thrive. If not, first it will become hard to keep your ‘place,’ and then to survive. That’s what happened to top companies like Goodyear, Sears and a few others; you don’t have to make your own mistakes but learn from others. The world is inclined mobile at a faster rate and there should be no second thoughts to dive in as mobile technology is transforming the way businesses were once. Today, as you observe the data, the numbers around mobile driven tech and the global penetration of this make-life-easy device on every aspect of life, it’s a consensus for every business to adopt.
It is not the strongest or the most intelligent who will survive but those who can best manage change – Charles Darwin. The question is simple, are you prepared for this integration?
Get Ready To Ramp Up
With the arrival of mobile phones and tablets, it is undeniable – the collaboration of virtual and real world. Look at the forecasts, smart phones and tablets will soon replace PCs in shipment volume and PC market will face a decline of about 7.6%. The increase in smart phone users are expanding at warp speeds, accumulating around 110 million people in the US. The numbers point to business people and for 2013, there is a 56% increase in smart phone ownership. The data shows mobile is the ever-invented technology exerting massive user dependence and to marketers, its a crucial decision to make. Calls you ramp up marketing efforts and serve customers better, diving to where your prospects are the most.
Apps – Breakthrough On Experience
Moving agile in the growing global market is important and here comes the influence of sophisticated mobile apps. According to International Data Corporation, there will be a rush of mobile app downloads from 10.9 billion worldwide in 2010 to 76.9 billion in 2014. The corporate world has recognized the trend and how it aids to their marketing goals. Apps flooding at this rate, app stores would need some housekeeping though! Many adopted mobile already and are running well defined mobile strategies, they knew it was critical and now they reap the benefits.
Reach Markets, Customer Expectations
With the ease of digital access, customer expectation has gone up exponentially. It was not so long businesses used to depend IT to marketing efficacy, expanding markets and acquiring customers in galore. Now mobile revolutionized the dimension of advertising, every instance of marketing and capitalized customer interests. There are smart phone apps for users to track deals or promotions and then experience purchases even from a library. With mobile apps or electronic coupons, vouchers distributed on mobile platform, your customers will return back more and you can be in touch and keep them informed real-time with the best deals and what new you have to offer.
Banks, financial bodies are embracing mobile for smooth, efficient customer interaction via mobile banking and commerce. They are keen to offer experience, encourage customers to carry out transactions on the go. Looking at the productivity and expense side, the bank needs to clear fewer customers at the teller end and the extra resource could be used on other tasks. Mobile commerce strategy is one of the effective designs to help businesses, brands to engage with customers, prospects and retailers; ultimately drawing more customers and revenue via mCommerce technology. Research affirms these and mobile payments are expected to quadruple by $630bn by 2014.
“Coopetition” – A Way Forward
Markets are evolving and conventional business models are rapidly getting replaced; cumulative versus disruptive, online versus mobile, bank transactions versus mobile provider, and many new solutions to balance the complex realms of physical world with seamless digital interaction. As smart phones took over the world in storm, mobile apps and web experience on the platforms have altered the way once we thought about social interactions, customer engagement and other territories of marketing.
Limitations on transactions or communication are completely wiped away globally. The way to succeed has changed to “coopetition”, than competition alone. It is generally the new scenario constituted for simultaneous competition and cooperation by multinational enterprises and their investors. With mobile tech incorporated to marketing, businesses are focussed on a self-perpetuating, two-way communication between customers and merchants, enabling elevated interaction and acquiring wider markets. This means businesses no longer need to search for additional solutions to viral reach, but leverage the hyper connectivity and networking capabilities of mobile while tailoring engagement, marketing strategy and a respectful customer service. With that, trust is cultivated natural and good word always spreads.
The next great wave of mobile experiences is already here, – Paul Jacobs, CEO, Qualcomm.
The mobile “wave” or “storm”, whatever you may call is blowing, for small or large businesses to adopt and adapt is the move right now. If you haven’t yet embraced the now and future- Mobile, get your surfboard and wetsuits, master the wave early.