How to overcome top business challenges via mobile advertising
Posted by Stephen Taylor on July 28th, 2021
Starting a business can be an exciting opportunity. Unfortunately, running a business is no cakewalk. It is full of obstacles and difficulties. Encountering obstacles is one thing that all businesses have in common. The thing that sets successful businesses apart, however, is how they deal with them.
Every industry vertical has its own set of business challenges. For instance, telecom operators are experiencing a plunge in ARPU and profitability. Traditional voice and data services are undergoing stagnation and new revenue streams are not growing fast enough to compensate for the shortfall. Complicating matters, they are also finding it difficult to minimize costs and innovate. They are not able to meet the growing customer expectations. The growing sense of disappointment among customers is leading to high levels of customer churn. Mobile Operators are facing cut-throat competition from competitors including existing ones and new entrants like OTT players.
The ongoing pandemic has resulted in a fundamental shift in how businesses approach their challenges. There is a major change in how brands perceive their obstacles and handle them. Businesses around the world have reacted in agile and decisive ways. They are finding superior ways to combat business challenges which can be a daunting task. New lines of communication and superior marketing technologies are being aggressively adopted to address them. In everything, digital marketing is the channel, with traditional marketing being almost dead and customers being the new market-makers, reshaping industries and changing how businesses compete and win. Digital advertising has been disrupted by mobile advertising 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 cope up with the challenges, businesses are fast adapting their advertising campaigns by using mobile advertising platforms and mobile advertising revenue models.
Here are the top business challenges which are being addressed via mobile advertising
1. Increasing Average Revenue Per Customer (ARPU)
Acquisition is not everything when it comes to growing business. Retaining existing customers by looking at ways to increase ARPU can be highly effective as a growth tool. However, increasing ARPU could be tricky for businesses. Businesses should treat customers better and use tools like moLotus to engage with them, offering value, and helping them get the most out of product at every stage of buyer journey thus increasing ARPU. Interestingly, moLotus is offering a potential increase of 2% in ARPU, by executing existing ad campaigns and offers for Telcos. moLotus driven upsells, cross-sells, add-ons campaigns add more value, increasing buyer spending, and in turn, increase your ARPU.
2. Effective Marketing Automation
Marketing automation can improve both the efficiency and efficacy of business. Not only will it save time; it will also ensure that customers receive your message promptly. However, marketing automation could be a tricky task for businesses. They may be carried away by the existence of a plethora of ineffective automation tools. To get the most from mobile advertising, businesses should embrace new-age mobile platforms like moLotus that can help them to successfully automate marketing campaigns. As mobile automation technology continues to evolve, the breakthrough moLotus automation capabilities are meeting the expectations of businesses, doing away with the inefficiencies of mobile advertising. The platform comes as a fresh advancement in technology, empowering advertisers to create a rich automated ad experience.
3. Customer Communication and Engagement
Communicating with customers has been a major challenge for businesses. They often fail to draw the attention of their customers and enter into a two-way contextual interaction with prospective customers. Hyper-personalisation is now the most preferred way of communicating with online customers with tailored products and services. Brands are sending personalized recommendations, offers, and messages to customers securing more attention and action. Next-gen marketing tools like moLotus have become the prime choice of marketers using customer data, AI, and advanced algorithms to precisely personalize mobile marketing campaigns.
Also intriguing and interacting with customers is now easier with moLotus. Businesses can interact with customers about not only products and services, but also their innovative uses of in the context of current situations to help build trust and confidence. Brands should create informative and interactive mobile ad campaigns with multiple response options like SMS, Callback, Click URL, etc. using an innovative advertising platform like moLotus. Also, a variety of rich media formats including video, greetings, brochure, slideshow, and showcase are supported by this platform. They can add product pictures, voice-over, and music, creating attractive storyboards and HQ videos up to 40 sec. In the ad content for interacting with customers.
4. Lead Generation
Lead generation has posed a major challenge for businesses. Mobile advertising has come to the rescue of brands. It is seen as an excellent way of generating and converting leads. Video lead generation campaigns have proved to be more powerful and effective in capturing leads. Mobile lead generation campaigns created using platforms like moLotus can quickly prompt the consumer to buy a product or service. A moLotus mobile video ad with a tight and eye-catchy message can offer higher engagement. The non-spammy moLotus video ad campaigns are assisting businesses to attract more customers to their products and services.
Businesses can incorporate multiple customer response options offered by moLotus platform in their campaigns, adding more context. The ads build trust among the consumers and generate more leads and revenue than any other online video marketing platform. Research shows that using mobile advertisements can increase product sales manifolds. 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. Custom Acquisition
Customer acquisition is all about managing and converting leads into actual customers. For businesses, there is a growing need to ensure that the sales pipeline is full of new customers. However, marketers must achieve this without alienating their current customers. Striking this balance is challenging enough. The situation can feel impossible but when you add in the fact that advertising costs are rising and it is becoming increasingly difficult to stand out in a crowded digital marketplace.
A marketing platform like moLotus offers respite by giving unique customer acquisition campaigns. It enables businesses to convert the leads into new customers, building a new customer base. Comprehensive product videos and offers attract potential customers; motivate them to interact, and the real-time automated reporting system organizes every customer response detail and delivers it to the advertisers in a meaningful way.
6. Customer Retention
Existing customers are significantly more likely to spend more than the new customers and recommend the brand to others. Increasing customer retention by 5% can increase company revenue by between 25 and 95%. Given that, customer retention is said to be one of the toughest marketing challenges for businesses. Effectively engaging with your customers and retaining them relies on having the right marketing tools. As a part of a customer retention strategy, businesses should reward loyal customers with special offers, discounts coupons and in return request them to leave reviews. It would be apt to run loyalty campaigns using mobile advertising platforms. One such platform worth mentioning is moLotus. It has a special role to play in enhancing customer loyalty by creating unique loyalty-based mobile 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.
7. Cost Minimization
During pandemic marketing cost optimization has become the biggest challenge and the top priority for global businesses. The mobile advertising platforms like moLotus have led to the creation of effective campaigns on a shoestring budget. Ad platforms like Facebook are gradually losing their appeal due to burgeoning advertising costs. For businesses in pursuit of a cost-effective marketing platform, moLotus could be an economical and effective alternative. It is an ideal option for businesses to reach customers on their phones at a lower cost without depending on any app download or data charges. The platforms like moLotus can transform the entire marketing processes and reduce the cost of cold calling, training, printing, and delivery, etc.
8. Targeting Right Customers
A higher understanding of your target market will allow businesses to achieve overall better revenue results with your advertising campaigns. It can be challenging to gain insight into the target market’s demographics and making assumptions can be dangerous. Mobile advertising gives businesses the ability to target audiences based on demography and language to ultimately generate more revenue. With demographic and language-based segmentation, brands can better target their marketing efforts in specific regions. With moLotus mobile ad campaigns, businesses can now target different demographics and languages. Brands are capable of targeting specific customers they think are likely to purchase their product or hire services. Customer data such as age and interests can be used to fine-tune the ad campaigns according to customer needs.
9. Increasing Reach & Scalability
Getting high customer reach has always been a concern for businesses. Post pandemic, marketing campaigns triggered by traditional platforms couldn’t offer the kind of reach and global scalability needed to cater to the emerging tech-savvy and online customer base. Businesses are now relying more on new-age tools like moLotus offering the much-needed massive reach and scalability. Its innovative technology quickly delivers automated messages to the massive customer database directly into their inbox on all mobile handsets, irrespective of phone type or model – 2G, 3G, 4G, 5G smartphones, i-phones, and feature phones without requiring any app or internet connection.
10. Performance Analysis
Well-managed, analyzed and optimized ad campaigns contribute significantly towards business revenues. However, monitoring ad campaign performance could be challenging in the absence of a suitable tool. Mobile advertising platforms like moLotus are enabled with more effective real-time ad tracking and analyzing features. The tool is well-equipped with real-time progressive trackers. These tend to manage, analyze and optimize the campaigns. Research shows that businesses optimizing their campaign performances via moLotus’s real-time tracker are earning considerably higher revenues via mobile advertising campaigns.
Every business has a unique set of challenges that need to be addressed with intelligence and care. Business owners and marketers have to deal with them using creativity and ingenuity. With forethought and tenacity, there is no issue that cannot be overcome. Embracing new mobile advertising tools like moLotus could be a solution to all the major challenges and therefore be used to boost business growth and earn high-margin revenues.
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About the AuthorStephen Taylor
Joined: August 26th, 2020
Articles Posted: 36
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