How to Increase Business Revenue via Mobile Marketing
Posted by Stephen Taylor on July 8th, 2021
For a business to succeed, the revenue drive needs to constantly increase and grow. Hit by the pandemic slump followed by social distancing and nationwide lockdowns, businesses are experiencing major impacts. It has become challenging for most businesses to keep their financial wheels turning due to less revenue generation and the general uncertainty in the global financial environment. It is difficult to ascertain how long this pandemic will last, so it is important to be prepared for all scenarios. Businesses need to re-look at their revenue management strategies in order to gain momentum.
Every business needs marketing to generate revenues. Traditionally businesses have been relying on age-old channels of marketing like Television, Print Media, Hoardings, Billboards, etc. but with the advent of digital marketing, things have drastically changed. Digital media has almost replaced traditional media. Digital marketing has been further disrupted by mobile marketing as socially distanced consumers now spend more time on their smartphones, tablets, and other mobile devices than they do sitting in front of the TV. In order to maintain the pace with changing consumer habits, businesses adapted their marketing campaigns by adopting mobile marketing revenue models.
Studies show that mobile campaign revenues have jumped dramatically during the pandemic. Investing your budget in a strategic mobile campaign can be an effective and profitable digital marketing strategy, no doubt in large part because mobile users spend 71% of their mobile usage time browsing the internet. (Source: Adespresso) That's because of the ease and cost of these devices, not to mention the availability of wireless connections allowing people to tap in.
We are living in a new world. So, if you’re looking to get into mobile marketing to optimize your revenues, you’re in the right place. Following are the ways by which you can increase revenue via mobile marketing :
1. Brand Exposure & Awareness
The revenue generation process begins often with a focussed brand awareness drive. If you’ve invested considerable time, effort, and finance into the development of a new product, it’s understandable that you can’t wait to show it off. Just as you wouldn’t stop running with the marathon finish line in sight, you can’t simply halt marketing efforts and place your new product on the shelf, presuming consumers will discover it on their own.
In these competitive times, traditional marketing methods like floor displays, magazine ads, and banners don’t go far. You must position your message in front of your busy, distracted audience when it matters most. Mobile marketing helps you do just that yielding high volume sales and revenue! Interestingly over 51% of smartphone users have discovered a new brand or product via mobile (Source: Shopkick). Innovative brand awareness campaigns powered by modern technology and platforms like moLotus have significantly contributed to high margin revenues and greater marketing ROI. You can design innovative moLotus mobile brand awareness campaigns.
2. Demographic & Language-based Targeting
A higher understanding of your target market will allow you to achieve overall better revenue results with your advertising campaigns. Mobile marketing gives you the ability to target audiences based on demography and language to ultimately generate more revenue. With demographic and language-based segmentation, you can better target your marketing efforts in specific regions. With moLotus mobile campaigns, it is possible now to target different demographics and languages. The moLotus ad platform makes you capable of targeting specific customers you think are likely to purchase your product or hire your services. You can use customer data such as age and interests to fine-tune your ad campaigns to consumer needs.
3. Extensive Reach & Scalability
The more the campaign reaches, the better is the possibility of revenue generation. You can reach and handle millions of customers at the same time via mobile ads. Campaigns triggered by traditional platforms have fallen short in offering the kind of reach and scalability required to cater to this tech-savvy customer base. New-age online tools like moLotus offer massive reach and global scalability. Its spam-free technology quickly delivers automated ads to a huge customer database directly into their inbox opening up more revenue opportunities.
4. More Conversion & Lead Generation
More leads generation and conversion ensure more revenues. Mobile marketing is seen as an excellent way of generating and converting sales leads. Rich media formats like videos, high-quality graphics have been mostly used as the supporting element in mobile ad campaigns. But, gradually this notion has changed owing to the fact that video lead generation campaigns can be more powerful and effective in revenue generation than other campaigns that do not involve videos. Mobile lead generation campaigns quickly prompt the consumer to buy a product or service.
A mobile video with a tight and eye-catchy message can offer value to users. The innovative and non-spammy moLotus video ad campaigns are helping marketers to attract more customers to their products. You can incorporate multiple customer response options offered by the platform in your video campaigns, adding more context. The campaigns can be used to build trust among the consumers and generate more leads and revenue than any other online video marketing platform.
Studies show that using mobile campaigns can increase product sales manifolds adding to revenues. They are an excellent way of increasing product recalls too. Consumers tend to remember the mobile video advertisements they watched within a month. More people purchase a product or service after seeing a video ad about it on their mobile inbox.
5. Upsell and Cross-sell More
The probability of selling to a new prospect is 5-20%. The probability of selling to an existing customer is 60-70%. Upselling and cross-selling have proved to be one of the most important methods to increase average order value and boost the bottom line (Source: Groove). Brands have perceived high margin revenue opportunities in uncertainty and are fast adopting mobile advertising tools like moLotus to maximize their revenue via upselling and cross-selling ad campaigns. Some businesses already have additional services or products that they can readily upsell and cross-sell while others may need to innovate new ones that their customers need during this pandemic. All being done via mobile advertising tools. This is bound to result in an increase in average revenue per customer and generate revenue.
6. Interact more with customers
This is a good time for businesses to intrigue and interact with customers about not only products and services, but also their innovative uses of them in the context of current situations. This will help build trust and confidence. Instilling customer confidence is expected to increase revenue generation manifolds. Brands should create informative and interactive mobile ad campaigns with multiple customer response options like SMS, Callback, Click URL, etc. using an innovative advertising platform like moLotus. Also, a variety of rich media formats including video, dynamic greetings, brochures, slideshows, and showcases are supported by this platform. You can add product pictures, voice-over, and music, creating attractive storyboards and HQ videos upto 40 sec. In the ad content for interacting with customers.
7. Optimize Cost
During pandemic marketing cost optimization has become the top priority for global businesses aiming at enhancing ad revenues. The advent of mobile marketing has led to the creation of effective campaigns on a shoestring budget. Many ad platforms like Facebook are gradually losing their shine on account of burgeoning advertising costs. If you are in pursuit of a cost-effective marketing platform, moLotus could be an economical and effective alternative to other digital marketing tools. It is an ideal option for you to reach your customers on their phones at a lower cost without depending on any app download or active internet connection.
8. Automate campaigns
Mobile campaigns are highly automated compared to other forms of digital marketing. Mobile marketing offers you the opportunity to transform every aspect of your ad creation and delivery into a fully automated system. All you need to do is embrace the right tool and technology like moLotus to create an end-to-end automated ad campaign and you are done. By automating your campaign, you can choose to earn more in the form of high margin revenues. As marketing automation technology continues to evolve, the breakthrough automation capabilities of tools like moLotus are meeting the monetary expectations of advertisers. moLotus can automate the entire customer-related process right from lead generation, customer onboarding, customer support, loyalty, feedback, and more.
9. Loyalty & Rewards
Revenue generation is the ultimate aim of loyalty campaigns and mobile loyalty ad campaigns can do wonders in this regard. Studies show that loyal customers are often ready to spend easily on your products and services than new customers. Mobile campaigns have disrupted traditional loyalty campaigns via innovative tools like moLotus, Loyalty plus, etc. For instance, moLotus offers the best ad campaigns delivered to the customer’s messages inbox for special occasions like birthdays, anniversaries, reminders, and festivals that are custom-branded with options for name, greeting, reward, call-to-action for each customer.
10. Real-time Performance Analysis
Well-managed, analyzed and optimized ad campaigns contribute significantly towards top-line and bottom-lines. Mobile advertising platforms are enabled with more effective real-time ad tracking and analyzing features. A mobile platform like moLotus is well-equipped with real-time progressive trackers. These tend to manage, analyze and optimize the campaigns. Research shows that top brand marketers are optimizing their campaign performances via moLotus’s real-time tracker and earning considerably via mobile campaigns.
The good news for marketers is that mobile marketing will reach USD 408.58 Billion by 2026 accompanied by a tremendous growth in revenue generation (Source: Fortune Business Insights). Brands are exploring various mobile marketing revenue models and global brands have earned high margin revenues via moLotus mobile advertising. It is the real mobile advertising platform offering the best revenue-return opportunity for you even in the current volatile market situation.
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About the AuthorStephen Taylor
Joined: August 26th, 2020
Articles Posted: 36
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