Skip to main content

The mobile revolution is not about technology

The truth is, we live in a permanent technological revolution. Remember when you didn’t have a cell phone because no one did. Granted some of you may be too young to remember that – but the majority of readers are not. That’s a pretty short window. We’ve gone from not knowing what a mobile phone was to 91% of adults have a mobile device within arm’s reach 24/7 in less than 25 years.
And if anything, things are just moving faster than ever, which means we’d better buckle in because we’re on a never-ending roller coaster.
Consider these additional facts:
  • 95% of all text messages are read and read within 90 seconds of receipt
  • 65% of all email is opened on a mobile device versus a desktop or laptop
  • Mobile is now the first screen worldwide – eclipsing screen time on both PCs and TVs
  • There are more mobile devices on the planet than there are people
Mobile has become THE place for media consumption. It’s where people connect on social media, it’s where they watch videos, read, search for where they should eat dinner and, based on their apps – renew their prescriptions, pay for coffee with a quick scan or board a plane. And that’s child’s play compared to what is coming next.
But the important thing for us to recognize from a marketing point of view has nothing to do with the devices. The real mobile revolution is about our behaviors and choices, not the device of the day.
This technology has changed how consumers behave. They are less patient, more demanding, have higher expectations and a lower tolerance for any sort of delay, disappointment or lack of options.
Forget Millennials or baby boomers. We’ve become the IWWIWWIWI culture.
The “I want what I want when I want it” attitude is evident in how we consume today. Wait for a TV show to actually be on TV? Forget it. I’ll watch what I want, when I want and I will binge watch as many episodes as I want on whichever device I want. Wait a week for you to get something in stock? I don’t think so. I’ll just order it on Amazon and I’ll have it tomorrow.
A global survey asked respondents to assign a value to their smart phone and the average consumer came up with an implied value of $6,000. Which makes perfect sense, given how we’ve come to rely on the super computers we carry in our pockets every day.
Those are the consumers we’re trying to reach and sell to every day. How should we be taking advantage of this mobile revolution to win the loyalty and buying dollars of these consumers?
As marketers, we can and should be using mobile to:
  • Deliver time sensitive content to audiences
  • Reach out to audiences with location specific information and offers
  • Solve problems for key audiences at the exact moment/location they need it
  • Create community around a passion or cause or shared need/experience
  • Develop a deeper, more meaningful experience or connection
  • Accomplish tasks in a faster, easier and better way
One of the realities of this new world is that what used to be unattainable for the average small to mid-sized business is now well within your reach, both in terms of access to the technology and affordability.
by  on August 9, 2017

Comments

Popular posts from this blog

Without President’s Signature, ROAD to Housing Act Becomes Law; Includes CU Board Modernization Act

WASHINGTON — The bipartisan 21st Century ROAD to Housing Act became law Friday without President Donald Trump’s signature after the president allowed the measure to take effect while Congress remained in session, choosing not to sign it in protest over the Senate’s failure to advance separate voter identification legislation.  The legislation includes the Credit Union Board Modernization Act, which reduces the frequency with which credit unions must meet and which had strong support from the credit union trade groups.  Trump announced on social media that he would not sign the housing package because the Senate had not passed the SAVE America Act, a measure he has championed requiring proof of citizenship for voter registration. Under the Constitution, a bill becomes law if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress is in session.  Scott Simpson ‘Steadfast in Commitment’ “America’s Credit Unions, our league partners, and cr...

Invest in Education - Invest in Tomorrow

 

Inflation Cools in June Report, But One CU Economist Says There’s One Reason–And it Could Change

WASHINGTON — U.S. consumer inflation cooled more than expected in June, offering relief after several months of elevated price pressures, though economists cautioned the improvement could prove temporary as renewed geopolitical tensions threaten to push energy prices higher. The Consumer Price Index fell 0.4% in June on a seasonally adjusted basis, the largest monthly decline since April 2020, after rising 0.5% in May, according to data released Tuesday by the Bureau of Labor Statistics . Compared with a year earlier, consumer prices rose 3.5%, down from 4.2% in May.  Foot off the Gas Dawit Kebede “Falling gas prices led June’s decline and pulled headline inflation lower year-over-year. Renewed hostilities could complicate the energy picture ahead, and a reversal in gasoline costs would be the most likely channel for that pressure to show up,” said America’s Credit Unions Senior Economist Dawit Kebede. “But softening core prices point to broader-based moderation, suggesting the ea...

What You Might Not Know About July 4th.

White Paper from WOCCU Examines How Stablecoins are Reshaping Financial Infrastructure

WASHINGTON– World Council of Credit Unions (WOCCU) has released a new white paper that examines how stablecoins are reshaping the financial infrastructure that credit unions and other cooperative financial institutions rely on to serve their members.  According to WOCCU, the white paper, How Digital Money Is Impacting Credit Unions, Part 1: Focus on Stablecoins , is the first in a planned three-part series exploring how emerging forms of digital money are affecting the global credit union movement.  “The report begins by noting that stablecoins are no longer a niche fintech development, but part of a broader structural shift in how money is stored, moved and regulated,” WOCCU explained. “As commercial banks, payment networks, technology firms and retailers build stablecoin offerings or integrate stablecoin rails into their platforms, credit unions must consider how these changes could affect deposits, payments, member relationships and long-term institutional relevance.” For ...

The FedNow Service will launch in 2023 "Are you ready?"

The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions of every size, and in every community across the U.S., to provide safe and efficient instant payment services in real-time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Consistent with the Federal Reserve’s historical role of providing payment services alongside private-sector providers, the FedNow Service will provide choice in the market for clearing and settling instant payments as well as promote resiliency through redundancy. Financial institutions and their service providers will be able to use the service as a springboard to provide innovative instant p...

New GDP Data is ‘Positive,’ Clouds Clearing, Says NAFCU Economist

WASHINGTON–Although discussion and forecasts continue to focus on a recession in the U.S. economy, economic growth remained solid at the end of 2022, according to new federal data. Curt Long The Commerce Department said U.S. gross domestic product, adjusted for inflation, increased at an annual rate of 2.9% in the fourth quarter of 2022, down slightly from a 3.2% growth rate in the Q3. Consumer spending grew at a 2.1% rate, according to the Commerce Department data, which will be revised at a later date. “The big picture view of economic growth in the fourth quarter is a positive one,” said NAFCU Chief Economist and VP-Research Curt Long. “Much of that grow...

The ‘Vexing’ Challenge in Front of the Fed

WASHINGTON–Wages, prices and consumer spending all increased over the year ending in June, according to new government data, creating a challenge for economists and the Fed as they seek to interpret what all the numbers mean and how to best move forward. “The latest government data…showed evidence that the economy remains resilient amid fear of a recession, but also that inflation is likely to remain a vexing problem for the Federal Reserve,” noted the New York Times in its analysis. As CUToday.info reported, the new data show consumer prices were up 6.8% through June, according to Personal Consumption Expenditures  measure. That was the fastest pace since 1982, the government said. Yet as quickly as prices have increased, consumer spending ro...

The Federal Reserve has opted to make no changes in interest rates

WASHINGTON–The Federal Reserve has opted to make no changes in interest rates following the conclusion of its meeting here, but it has indicated it could move as soon as next month to cut rates if the United States and China isn’t able to find ways to resolve their trade dispute. As a result,  For now, the Fed left its short-term rate at a range of 2.25% to 2.5%. Eight of the 17 votings, Fed policymakers did predict there could be as a half percentage point decline in rates in 2019. In a statement following its meeting, the Fed did dial down a bit its forecast for the economy.   “In light of these uncertainties and muted inflation pressures, the FOMC will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market” and inflation near the Fed’s 2% goal,” the Fed said.  Fed Chairman Jerome Powell in recent interviews has expressed concerns over what he ...

Fed Chair Says Inflation To Hang Around a Bit Longer; New Beige Book Data Show Why

WASHINGTON–The chairman of the Federal Reserve told the House the current increase in inflation is temporary, although it will remain elevated in the months ahead before moderating. Fed Chairman Jay Powell’s comments before Congress came on the same day the Fed released its Beige Book analysis, which found an economy showing increasing strength, but also suffering shortages of many materials and manpower. During his testimony before House Financial Services Committee as part of his semiannual monetary policy report to Congress, which he will repeat today before the Senate, Powell said asset valuations have generally risen as the economy has improved and investor risk appetite has grown. “Household balance sheets are, on average, quite strong, business leverage has been declining from high levels, and the institutions at the core of the financial system remain resilient,” Powell said. What About Inflation? As for inflation, which is of conce...