Ad spending is an area that is constantly advancing and marketers need to stay up-to-date. They must stop playing Scrooge with dollars designed for mobile e-commerce campaigns while favoring traditional marketing.
U.S. retail sales in the holiday season is expected to reach $885.7 billion, 5.7 percent more than in 2014, according to eMarketer. This holiday season, e-commerce increased its percentage of total U.S. retail sales from 8.3 percent in 2014 to 9 percent, eMarketer forecasts.
One of the biggest factors causing a change in retail shopping is coming from consumers’ rising enthusiasm to confirm purchases via mobile devices like smartphones. By the end of 2016, $1 out of every $4 that retailers generate through e-commerce will come from a mobile device, eMarketer projects.
However, recent figures suggest that several companies have yet to shift adequate marketing efforts to the Internet, especially to mobile devices. In 2014, of every hour that U.S. consumers spent watching, listening to, or reading media like television, radio, print publications, or the Internet, they spent more than 14 minutes on mobile devices. But a recent Kleiner Perkins report shows that "only 8 percent of U.S. advertising spending last year went toward ad platforms like smartphones and tablets.”
The Kleiner Perkins report shows that in 2014 the money U.S. advertisers invested in media, like print and television, was too much because their audience had shifted toward wireless devices. That is an opportunity for marketers who know how to capitalize.
4 Points to Success
There are four basic elements to boosting a company’s marketing efforts online and on mobile:
- Setting goals. As Ometria has noted, companies must know what they’re looking to achieve in a campaign and have a reliable measuring stick to help determine when they’ve hit the mark.
- Knowing thy customer. This entails doing in-depth demographic research, such as age and income, along with finding where a business’s clientele hangs out in cyberspace and what devices they use when they visit.
- Attract and convert. A strong understanding of who buys a company’s products or services, and why they purchase, will inform the methods the business uses to spur interest in prospective customers. The key is to enhance Web pages to increase the likelihood of transactions being made. Ometria suggests taking steps such as using static images instead of carousel ones on the home page.
- Measure and adjust. Every business is unique, just like every campaign it runs to attract new customers. It is important to keep close tabs on the results of every marketing push, and to make changes as things proceed to get the best bang for the corporate buck.
Follow Up, Personalize
With dozens, even hundreds, of marketing messages constantly being sent to consumers, marketers must go the extra mile to ensure their pitches are relevant to individuals in their target market. “The stronger the emotional connection an individual feels with a brand, the better the chances he or she will buy,” Dove says.
And even when the most loyal customers can’t respond to every marketing outreach, companies increase their chances of being heard by following up with each individual. Research suggests that persistence, in moderation, can maximize response rates; the key is to avoid overdoing it.
E-commerce and mobile marketing are full of nuances, many of which can make or break a deal. This is why companies should take advantage of getting external expertise on the in’s and out’s of this emerging endeavor.
A strong marketing partner can help make the cash register chime. And during the holidays in particular, that is music to a CEO’s ears.