“How does one grow their business in America today?” This is the question on the mind of business owners throughout America. The old rules of economics still apply; technological predominance has just changed the application slightly. Mobile marketing campaigns have been found to stimulate the growth of businesses and to be an excellent return on investment for companies.
By definition, the supply relationship in economics determines the quantity of goods or services a consumer will purchase, and the price they are willing to pay. Complicating the supply and demand factor of economics is marketing. Customers tend to purchase products they are informed about, and exposed to frequently. Because the marketplace today is so heavily inundated with marketing and product placement, consumers are suffering from advertising fatigue.
Mobile marketing campaigns give the power of access back to the consumer. Consumers opt-in to receive updates and discount information from the companies they are interested in frequenting. As customers discriminate which companies they would like to receive text messages and advertisements from, companies are given an opportunity to boost demand for both their product, as well as demand for their discounts via cell phone.
For example, a rock bottom price on a pair of designer shoes, sent by the shoe store to customers who have opted-in to the mobile marketing campaign causes a buzz. Customers not receiving messages from this company, decide to opt-in, hoping to get in on the deal. As a result, the company has stimulated demand for its products through smart advertising and careful use of supply.
By offering a limited supply of discounted products or services, or a limited time in which to redeem discounts, companies can boost their overall sales. Communicating these discounts via mobile message practically guarantees customers will open the message and read it. Unlike pop-up ads online, spam and paper coupons, which are often disregarded or placed in the trash before they are even opened, text message discounts and updates are opened 97% of the time. Meaning, the message sent via text message reach their target audiences. Many times customers will come into a store due to a promotion, and leave having purchased many more items than simply the one being promoted. Part of this is due to their satisfaction in having saved a significant amount of money. Rather than save this money, consumers will in fact purchase a novelty item that perhaps another time they might not have purchased. Other times, they purchase items they would normally have purchased, but perhaps at a different location. Getting customers in the door is often half of the battle to gaining customers and beginning to build relationships and loyalty therein.
Text message marketing also promotes growth within a company through the smart use of marketing budgets and allowing reallocation of funds to product development, personnel or facilities. Companies all around America are trying to cut costs without affecting the quality of goods and services, while simultaneously trying to grow their business.
Mobile messaging campaigns are very affordable, usually requiring only a low monthly fee while making multiple contacts with customers throughout that time. Unlike many marketing strategies, mobile marketing does not rely on a long lead-time, or expensive ads. Virtually every American has a phone on-hand all of the time, meaning the advertising tool is in the pocket or purse of every customer and potential customer. Companies are thus able to bring the ad or coupon to the customer, rather than asking the customer to come to them. Mobile marketing software companies help companies to create and maintain these ads. Businessmen and women turn their attention instead toward growing their company and encouraging profits. Allowing customers to opt-in to receive text message advertisements ensures that the messages sent are opened, read and welcomed by the recipient.
By increasing the demand for products and services, cutting advertising costs and providing proven, effective marketing, there is no doubt that mobile marketing provides companies with a positive return on investment. In June, the Mobile Marketer cited a study from Gartner Inc, stating, “Mobile advertising revenue will more than double in 2011 for a total of $3.3 billion as marketers watch the returns on their efforts to engage consumers via mobile.” Companies have seen that the fractional investment required to launch, and to maintain a mobile marketing campaign is far out-weighed by the benefits. Cell phones in hand, customers are redeeming mobile coupon codes at a considerably higher rate than traditional paper coupons or printed online coupons. Companies are seeing these discounts and updates translate into busier stores, more revenue and happier customers.
To learn more about how to grow your business through SMS messaging, the Qittle team is waiting to help you navigate the realities of supply and demand; advertising and growth, all the while helping you get a positive return on your investment. Don’t wait another day – get your first month of service FREE of charge.