Mobile Marketing Demographic and Market Penetration
Just a couple years ago marketing to consumers on their mobile phones seemed out of reach for most business owners. Many people wouldn’t have even considered wanting to get ads on their mobile phones bringing thoughts of their phones being stuffed with spam much like their email inboxes.
While mobile coupons, text message marketing and even geo-social applications may not be as far ahead as most companies would like you to believe, it continues to grow each month. The younger demographics, 18-34 year olds, have accepted this marketing medium while older demographics continue to slowly adapt to receiving mobile coupons.
If you need to reach the younger demographic you know how hard it can be with traditional marketing. A recent eMarketer study noted that 66% of 18-44 year olds said they were somewhat likely to try mobile coupons. 31% said they would be willing to give their mobile number in exchange for mobile coupons. When you reduce the age range to 18-34 year olds, the number jumps to 50% willing to receive coupons on their mobile phone by giving their number to a business.
Being able to target 50% of your customers may not seem like much but when you consider redemption rates it becomes very attractive. Let’s compare this to email marketing as an example. Say you have a customer base of 1000 consumers on your email list and 500 on a text marketing list. Sending the same offer to each list will result in an average 3% redemption rate from the email list or 30 customers and an average redemption rate from mobile of 15% or 150 customer’s. Mobile marketing ROI is much higher even with a smaller customer list.
The rate of acceptance and willingness to receive offers on mobile phones will continue to grow. We think a crucial factor of this growth is smart-phone penetration that also continues slow growth each month. As people become more accustomed to using their mobile devices for social media, searching the internet for local services, they grow more comfortable with receiving offers on their phone.
Each month more restaurants, retail stores and companies turn to mobile marketing to attract and reach customers when traditional marketing methods do not bring in the return on investment they need to continue to grow. What once was considered far-fetched is becoming reality. To reach your customers, you need to speak to them where they are, and that is continually increasing to be on the mobile phones.
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