Traditional Media Consumption Lessened
Today’s social, mobile consumers interface less and less with traditional media delivery channels. Smartphone apps have already surpassed the web when it comes to consumer time-spent, and are second only to time spent watching TV. In December of 2012 users consumed an average of 127 minutes a day engaged with mobile apps. That’s a 33% increase over 2011 during which consumers expended 94 minutes daily. In comparison, television viewing habits accounted for a scant 70 minutes in 2012 – barely more than an hour a day. How much will lower will these numbers decline in the years to come?
Consumers Increasingly Rely on Mobile & Social
Present-day consumers increasingly rely on mobile and social channels to get their news and information. In 2011 Nielsen conducted a Global Trust in Advertising survey which found that 92% of respondents completely trust recommendations from people they know. Comparatively a mere 47% completely trusted brand sponsorships, ads in magazines, on TV, billboards and in newspapers, while 70% trusted consumer opinions posted online. Word of mouth is still a very powerful driver of commerce. Once it begins, it grows, often exponentially.
With these tectonic shifts taking place brand owners are experiencing lower conversions on campaigns in traditional media outlets. More than $100 billion in advertising is wasted every year in the US, according to authors Rex Briggs and Greg Stuart in What Sticks; most brand metrics have steadily declined for the past two decades. Advertising’s average Net Promoter score is -21%. Clearly, yesterday’s marketing model has not kept pace with today’s consumers who determine if, as well as where, when, and how they’ll engage with brands.
Connecting With Today's On The Go Consumers
According to 2012 research from Forrester, nearly all US Generation Y consumers owned a mobile phone of some kind, with a whopping 72% owning smartphones. mize smartphone apps combined with our cloud platform services provide brands with real-time direct access to these social and mobile consumers. Brands orchestrate and conduct smarter customer engagements utilizing this end-to-end solution. Brand owner’s objectives and strategies are accomplished through use of our portfolio of smart building blocks. These discrete modules are assembled and configured to provide a seamless solution that meets brand strategy and engagement initiatives.
Brands benefit through increased customer engagement, loyalty and affinity; leading to accelerated sales. A recent CMO Council study revealed that 54% of North American consumers would consider ending their loyalty relationships if they were not given tailor-made, relevant content and offers. Three distinct dimensions of the mize service platform provide brands with a consumer-centric perspective, focused on mobilization, socialization and personalization. This structure enhances brands for mobile-optimized engagement with today’s hyper-connected consumers. Engaged customers provide insight, loyal customers generate revenue; engaged and loyal customers accelerate growth.
Smarter Customer Engagement: A New Approach
Smarter Customer Engagement differs in approach from traditional media initiatives. Putting consumers first with a customer-centric style makes it easier to do business with the company. Customer wants and needs are addressed in a personalized and context-sensitive fashion with hyper-relevant messages to heighten engagement. 64% of survey respondents who have smartphones have made a mobile purchase after seeing a mobile message, but nearly three-quarters (74%) haven’t received mobile messages from their favorite brands. A unified mobile experience sanctions brands to orchestrate optimal interactions; enhancing consumer’s opinion of the brand.
Mobile: The 7th Mass Media
Mobile is now the first screen for many consumers and is considered the 7th mass media. Our research shows that there are many influences involved in consumers’ decisions when shopping via a mobile device. With mobile it all comes together, allowing brands to turbo-charge everything across the digital landscape. Dan Polk, Director of Mobile Advertising for Sprint recently stated "Mobile customers can become more informed consumers by receiving relevant messages from brands in-the-moment that can help their purchase decision”.
The mize brand portal, platform services and consumer apps provide a unique and comprehensive solution for today’s consumer-centric marketplace. These three individual components when combined, deliver a lower cost of marketing per customer. Brands can spend and rely on far less on traditional and paid marketing, thereby increasing their bottom line. Smarter Customer Engagement with mize enables enterprises to drive revenue growth and customer loyalty while simplifying the way consumers discover, own and maintain their products.