Velti & Independent Research Firm Reveal Growth Opportunities In Marketers’ Flawed Approach To Mobile
Velti (NASDAQ: VELT), the leading global provider of mobile marketing and advertising technology, today released new data from a commissioned study conducted by Forrester Consulting on behalf of Velti. The study reveals key findings of the industries’ approach to mobile, including that marketers are repeatedly treating mobile merely as an extension of the desktop and using measurements made for the PC to gauge success for mobile mediums. Additionally, while many respondents cite customer acquisition as their number one marketing objective on mobile, the vast majority of brands’ spend for mobile has been focused on upper funnel tactics such as display ads.
Mobile phones now exceed more than 6 billion globally, making mobile the fastest growing digital medium, yet the survey showed that marketers are merely using the same tactics and campaigns that are designed for the Web by simply shrinking them to a smaller screen. According to the Forrester study, marketers continue to rely on aggregate demographic data, or paradigms carried from non-mobile media, to target their audience rather than building profiles of individual consumers based on trust and offered utility. Among the marketers surveyed, 78 percent use audience data, 71 percent use individual behaviour information for targeting, while only 64 percent are leveraging profile information unique to mobile devices. The main source for this flawed approach is that the majority of marketers are using metrics designed for the PC to gauge the success of mobile marketing and advertising initiatives, such as volume of website traffic & visitors (63%) and click through rates (58%).
“We believe this study shows that marketers need to look at the entire marketing funnel and realize that mobile is severely undervalued,” said Krishna Subramanian, CMO of Velti. “There is huge potential to capitalize on the mobile platform, and, to be effective, marketers need to take a mobile-first approach instead of treating mobile as an extension of the desktop. The majority of mobile marketing spend today is on advertising to anonymous consumers, but with the intimacy and rich context offered by mobile, the true potential lies in conversion and engaging in conversations with existing customers.”
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