While many brands and retailers have been adding mobile to their existing marketing mix, 2013 may be the year of using the full power of mobile engagement. The Mobile Marketing Association Forum, recently held in New York City, was packed with brands and agencies eager to soak up some great information about the new direction of marketing.
In the just-released MMA Mobile Marketing Economic Impact Study, it was found that, while mobile marketing growth has been substantial over the past few years (adding $140 billion in sales in 2012), the Marketing Impact Ratio will remain steady for the next 3 years. That means the opportunity for brands and retailers will remain quite large, since the current MIR is $20.77 for every $1 spent. For marketers, the opportunity will be even larger, as more brands and retailers see the positive impact mobile has on their shopper relationships. For example, Mondelez International announced they are devoting 10% of their marketing budget to mobile (note: not digital budget, but entire budget).
However, the emphasis at MMA was focused more on the how, not the what. Mobility has changed shoppers’ behavior in dramatic ways (something we have discussed previously). To realize the great opportunities that mobility offers, marketers must do what may be one of the scariest things ever: change. We must change our thinking and our approach to shoppers. While change is often scary, this opportunity to engage with shoppers on a one-to-one basis is the holy grail of brand equity.
To understand the full impact, it is worthwhile to look at mobile in context of other media.