The evolution of marketing and branding has brought us to a point of no return. Our advances in technology have created the ultimate game changer called the Mobile Application (Mobile App). Essentially mobile apps by definition are Internet applications that can run on smart phones and other mobile devices and perform specific tasks normally restricted to the PC. Nearly 95% of businesses are currently using some type of mobile application to assist them in their day to day business activities. However only a third of businesses are utilizing mobile apps as a way to market, brand, interact, and/or relate to existing or potential customers.
The mobile phone is our beloved communication device. Many days we may want to say "Oh how do I love thee...Let me count the ways.". Certainly, the two things you do not leave home without is your wallet and cell phone. Our lives are attached to this device which allows us to make and receive calls, email, browse the web, capture video, play music, navigate through traffic, mark our calendar, create to-do lists, interact with social networks, and create documents.
As the popularity of mobile devices increase and out number the purchases of PCs 3:1 the demand for mobile applications have followed suit. The demand for mobile apps over the past two years has been influenced by the growth and popularity of Apple's iPhone App Store. Apple's business model and philosophy entices users who have a desire to obtain the best device which can do more tasks to suit their busy lifestyles.
Mobile applications and services fall into one of two major categories Business or Consumer...
For the sake of time let's primarily focus our attention on consumer driven apps. Consumer driven mobile applications consist of over 20 content categories ranging from games,entertainment, music, social networking, productivity, reference, and lifestyle.
Mobile applications if created with the consumer in mind present an excellent opportunity to begin brand engagement. A "good" company creates a multi million dollar marketing budget aimed at increasing brand awareness through advertisement seen in print and on television. However, a "great company" will do this and more by creating a feeling of inclusion among potential and existing customers through the use of branded mobile applications. Studies show businesses who invest, develop, and launch mobile applications help their bottom line by attracting new consumers to a specific brand, product and/or service.
Currently Mobile Applications are found in mobile app stores depending on the device used. The retail environment for mobile apps will continue to grow in 2010 at a steep rate possibly hitting its peak by 2013. Please note in 2009 Wireless Expertise predicted "global mobile app market will be worth $4.66 Billion and increasing to $11.60 Billion by 2013.
So what does this all mean for you? If you own a business and /or you are responsible for marketing, sales and/or business development within a organization I recommend you hire someone fast who can help you navigate through this paradigm shift. Letting this tsunami of an opportunity pass you by is just unacceptable. Corporations with bright futures who believe in the power of mobile consist of brands like Gap, Marriott, Kraft, Weight Watchers, Budweiser, Coca Cola, and Fox Entertainment to name a few. Consequently, Mobile apps have been used to promote movie openings, introduce new product offerings, share unique content, and support local government,schools, or organizations while occasionally adding additional revenue to the bottom line.
Viable mobile app revenue models include one of three options. To begin, you can create a app and charge the end user fair market value per download. Consequently, the brand will share some of the proceeds with the network and you the brand take the rest. The key to a successful launch and lifespan of this model is based upon the content. If the content is unique or proprietary in nature and unavailable in other media forms the end user will not mind paying the required nominal fee. On the other hand, a business may create a killer app which becomes an extension of their brand and business philosophy. In this model the app is given away for free in a effort to promote brand engagement with the end user. The ads are placed within the app by a mobile ad agency thus creating a new stream of revenue for the organization. This model can be highly successful because everyone loves a free, cool, and fun mobile app. Finally, the third model is a hybrid of the first and second one. The brands choose to sponsor a application created by a third party developer. They too have the option of selling the app for a nominal fee or giving it away for free and creating revenue through ad sales. Ultimately, making a in-application media buy to reach an audience instead of building your own application from the ground up can save both time and money.
The decision on how to market, brand and push the app to the market place is contingent on the business model of the developer. To begin, "know thy market"...is the most important point one must consider before beginning any type of mobile marketing program. Second, ask yourself who is my competition and what makes me special. Simmons-Shelley Entertainment, a full service multi-faucet production company, based in Atlanta, Georgia has experience creating entertaining reality TV programming . They too believe the next evolution of creativity will include some type of mobile application which can showcase new and unique content while allowing the network to interact with the viewer. The additional revenue opportunity is a positive by product that can not be overlooked. In other words, packaging mobile with TV and other properties for advertisers should be a no brainer.
The best advice given here is "do your research by learning more about successful mobile app programs. Integrating a creative component to the app such as video and/or user generated content which supports interactivity is a popular feature among users. Remember, creating key partnerships with those who are experts in mobile development, testing, and deployment will solidify your chances in making this a overall good experience. Organizations such as MH Mobile Group, a mobile content development firm, have the expertise to create a great mobile app while managing the project from beginning to end making sure all objectives are hit in a timely manner.
The world has changed and we are in the midst of unprecedented shift of power from Television to Internet and now to Mobile. Mobile applications absolutely should be included in long term marketing and brand strategy for businesses. Businesses will greatly benefit by extending the customers experience, generating app revenue, assisting in customer acquisition, and creating a mobile marketplace.
First and foremost, doing proper research making sure mobile makes sense to your respective brand, product, or service is imperative. If the final answer is yes do your due diligence and get ready to change the game. This type of opportunity comes around once or twice in the life span of a business.
Go for it and enjoy the ride.....
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