6 Steps To Mobile Monetisation That Every Business Should Take

Nigel Turner

A leading authority in digital technology and marketing, Nigel’s roles have included Vice President of Global Marketing Strategy for Sony, Marketing Director for Quantel and Vice President of Marketing for Apple, Europe. A marketing specialist, Nigel has led teams working across all digital channels – from web and social media to CRM and apps.
We met with Nigel to learn about the huge opportunities mobile technology presents and how companies need to approach their mobile strategy.

1. Think mobile first

We all take three things with us when we leave the house – our keys, wallet and mobile. Our mobile phones are attached to us around the clock with the average person checking their phone 150-200 times a day. We have never seen this level of engagement with technology before and it’s big news for business.

Not only do many people use mobiles for shopping on eCommerce websites, but 84% use mobiles in-store to help with their offline purchasing decisions. People use them to check specifications, compare prices and search for other stores nearby. It’s an entirely new way of shopping!

For these reasons, it’s simply not good enough to update your strategy for mobile. You need a totally fresh strategy that places mobile at the heart of the entire user experience.

2. Go for an app!

Your mobile web content is important and of course, needs to be fully optimised, but the bottom line is that consumers prefer to engage with content via apps. People spend 27% more shopping on apps compared to mobile web and conversion rates are also higher. People are 1.6 times more likely to make a purchase when on an app, so an app should be a central part of your mobile strategy.

3. Design your content

Of course, having an app is one thing, but getting it to be used is another entirely. 70% of downloaded apps are used only once. Android users for example typically have 95 apps on their phone but only regularly use 35, so it’s essential to get your app in that top group. This all comes down to content and how you engage with users.

What content can you offer that will truly benefit your customers? Will it provide something entirely unique, or perhaps simplify the usual experience to make it easier for customers to access services whilst on the move?

4. Plan your engagement strategy

Mobile gives you so many ways to engage with your audience. You can target them based on their behaviour, location or time of day. There are tools now available, such as Audience+, that will help you to plan these engagement strategies using one-off, cyclical or programmed communications. This all needs to be carefully planned within the overall consumer journey.

Think about using test and learn approaches, with A/B testing to fine-tune messaging for maximum response. Listen to feedback and react quickly. Continuous improvement is the name of the game.

5. Get creative

There are so many ways to exploit the power of mobile technology. For example, you can deliver customers coupons or vouchers when shoppers are in the vicinity of a store, you can use Beacon technology to deliver messages when they are in store, and you can even run surveys after they leave the store.

In addition to location, you can use techniques such as Next Best Action (NBA) where you can suggest a specific response for the consumer based on their previous actions. For example, if someone using an entertainment app shows an interest in a particular genre of music, it would be possible to present, say, the opportunity to buy tickets to specific artists in that genre. This personalisation of relevant messages is what really defines this new way of working. The possibilities are virtually endless. Of course, all this needs to be carefully planned and marketers must be mindful of consumer tolerance, which takes us back to having that carefully defined and well-planned engagement strategy!

6. Finally – monetise

Too many businesses try to monetise their audience too early and simply stunt growth as a result. Only when you have a large, well-engaged audience should you worry about monetising it, and even then you should be wary of doing anything that will compromise engagement levels. However at the right time, and for the right brands, monetisation can be a very attractive option and can often enrich the experience for app users.