Opportunity With Growth Of Mobile Media Consumption
As recently as late 2010, mobile commerce was only 3% of e-commerce. By the end of last year's holiday shopping season, that number had risen to 11%, according to comScore.
That's approximately $18.6 billion in consumer spending - and that doesn't even include travel-related purchases, which comScore counts separately.
Mobile video companies, mobile-centric social networks, and location based services are well positioned to see the biggest benefits from the massive shift in consumer media consumption and usage patterns.
But how can companies truly capitalize on this consumer revolution and adapt to their mobile-centric customers?
First of all, about which revolution we are talking about here?
Well, mobile usage revolution!
Mobile usage is at an all-time high. The fact that the U.S. consumers now dedicate one-fifth of their media consumption time to mobile is simply amazing. That's a share five times greater than in 2009.
How tech companies, social networks, and app developers can shift their business models to accommodate their growing mobile-centric user bases?
Really important fact to be aware of, is that consumers are spending as much time on mobile as they are in the traditional online category (which includes all activity on desktops and laptops).
Mobile was the only media type to grow in total U.S. consumer minutes spent per day from 2010 to 2012. In the course of 2013, tablet shipments have grown 83% while PC shipments dropped 13%.
Mobile video is already big. But it can become even bigger. Why?
Well, one key trend is that consumers are watching more videos on mobile devices overall, but also, they're sticking to their mobile devices for longer periods of time while watching. This gives marketers more time and opportunity to place ads within streaming video content.
The 219 million mobile-only users now make up close to 20% of Facebook's total user base and Pinterest’s U.S. mobile-only user base grew 28% reaching 18.3 million in June 2013. And Facebook in particular has made significant progress monetizing this growing audience: mobile advertisements now represent a 41% of its ad revenue.
Mobile search is also growing. Tablets and smartphones now account for 26% of all local search traffic. That's just one more fact to keep in mind.
Not only your mobile app will be a cool marketing tool (allowing you to say things like, visit our website to download our free app!) that will help get people returning to your website, but it will allow you to engage with your customers in a whole new way, if you're going to use the new possibilities which mobile devices are offering.
Source: BusinessInsider.com | Image source
HARNESSING THE POWER OF MOBILE APPS FOR THE BENEFIT OF YOUR BUSINESS