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2010 Mobile Marketing and Advertising: Financial Institutions Losing Revenue Opportunities, While Telcos Charge Ahead
Javelin Strategy & Research, March 2010, Pages: 47
Despite coming out of a recessionary year in which advertising and marketing budgets were slashed, mobile marketing remained steady, and in some cases showed gains. Financial institutions, however, lost ground to wireless operators, ISPs and merchants. SMS text remains the means to reach the greatest numbers of consumers, but the rapidly rising percentages of smartphone users and the success of the Apple app store has increased the need for developing a greater mobile web and in application advertising presence. This report covers the mobile marketing and advertising landscape, including consumer likelihood, preferences and adoption of mobile marketing and location based services, consumer methods of response, and segments to target.
- What is consumer acceptance of mobile marketing and advertising?
- Which consumer segments should be targeted with mobile marketing?
- What are consumer preferences toward mobile marketing campaigns?
- How do consumers react when they accept mobile marketing messages?
- What is consumer acceptance of location-based marketing and couponing?
- What is the importance of search in marketing campaigns?
- Which segments should be targeted with locationbased marketing campaigns?
- What are current examples of different types of mobile marketing and advertising?
- How should mobile marketing campaigns be implemented within the existing ecosystem of telcos, FIs and consumers?
This report is mainly based on consumer data collected online from 3,000 respondents with mobile phones in July 2009. Overall margin of sampling error is ±1.79 percentage points at the 95% confidence level. The survey targeted respondents based on representative proportions of gender, age, income and ethnicity compared to the overall U.S. online population.
Executive Summary and Recommendations
Mobile Marketing at the Financial Institution
Five Steps to a Mobile Marketing Program
What Financial Institutions Can Do Today
Rise in Consumer Mobile Behaviors
Mobile Marketing and Mobile Advertising Defined
Mobile Search- Mobile Website, Mobile E-mail, Streaming Media, SMS Alerts, SMS Contest/Sweepstakes
Importance of Permission in Mobile Marketing
Which Consumers Receive Mobile Marketing?
Adoption Among U.S. Adults and Mobile Bankers
Adoption Among Marketing Target Groups
How Many Messages Do Consumers Receive?
Number of Messages Received by Marketing Target Groups
Which Consumers Act on Mobile Messaging? How do They Respond?
Likeliness to Take Action Among Current Mobile Marketing Recipients
Likeliness to Take Action by Age
Likeliness to Act by Mobile Bankers
Consumer Methods of Response
Mobile Marketing Ecosystem
Which Firms Send Mobile Marketing?
Mobile Marketing From New vs. Existing Relationships
Constraints to Mobile Marketing Adoption
Increasing Adoption of Smartphones
Marketing Campaigns Hindered by Customer Data Plans and Budget Constraints
Wireless Carriers and Bandwidth of Networks
Mobile Network Technology Explained
Consumer Likelihood to Act on Location-Based Marketing
Mobile Bankers Likelihood to Act on Location-Based Marketing
Who Spends Money Using their Mobile Phones? What Do They Purchase?
Mobile Purchasing Adoption by All Consumers and Mobile Bankers
Mobile Purchasing Adoption by Demographics
Average Dollar Amounts Spent on Mobile Purchases
Types of Goods and Services Most Often Purchased With Mobile
List of Figures:
Figure 1: Text Messaging, Mobile Web Browsing and Downloading by Segment (iPhone User, Smartphone User, Hispanic/Latino, Gen Y, Mobile Bankers (Last 90 Days), Income greater than $100K, All Consumers With Mobile Phones)
Figure 2: ClairMail’s Bill Reminder Alerts for Navy Federal
Figure 3: Mobile Features Used by All Consumers With Mobile Phones vs. Mobile Bankers
Figure 4: Figure 4: Example Ford’s Mobile Banner Advertisement
Figure 5: Direct Mobile Marketing Campaign Examples
Figure 6: Last Received Mobile Marketing by All Consumers vs. Mobile Bankers
Figure 7: Mobile Marketing Received Past 12 Months by Segment (Hispanic/Latino, 18-34, $75K-$99K, Smartphone Owner, iPhone Owner, Mobile Bankers Last 12 Months, All Consumers)
Figure 8: Number of Mobile Marketing Messages Accepted in the Past Month
Figure 9: Monthly Number of Mobile Marketing Messages by Segment (Mobile Bankers, iPhone Users, Core Millennials, Online Bankers, Over $100K Income, Latinos, and All Consumers)
Figure 10: Likely SMS Action by Number of Messages a Month
Figure 11: Likeliness to Take Action Based on Age
Figure 12: Likeliness to Take Action on SMS Marketing by Mobile Bankers (Past 90 Days)
Figure 13: Consumer Actions in Response to Mobile Marketing (All Consumers vs. Mobile Bankers)
Figure 14: Mobile Marketing Requires Cooperation of Multiple Players
Figure 15: Entities From Which Consumers Received Mobile Marketing, 2008 to 2009
Figure 16: Entities From Which Consumers vs. Mobile Bankers Received Mobile Marketing
Figure 17: Received Offers From New or Current Companies by Type of Mobile Banker
Figure 18: Actual Smartphone Adoption 2008-09, Forecast 2010-2014
Figure 19: Wireless Data Plan by All Consumers vs. Mobile Bankers
Figure 20: Wireless Data and Text Plans by Gen Y, Gen X and Baby Boomers
Figure 21: Unlimited Data and Text Plans by Consumers With Smartphones
Figure 22: Wireless Carriers by Revenue, and Consumers
Figure 23: Consumer Likelihood of Taking Action on Location-Based Marketing
Figure 24: Likelihood to Take Action on Location-Based Marketing by Mobile Bankers (past 90 days)
Figure 25: The Likelihood of a Consumer Opting In to LBS by Monthly Number of Messages Received
Figure 26: Last Time Mobile Purchase Was Made - Mobile Bankers vs. All Consumers With Mobile Phones
Figure 27: Mobile Purchasing Past 12 Months - By Age
Figure 28: Dollar Mobile Purchases by Mobile Bankers vs. All Consumers With Mobile Phones
Figure 29: Products Purchased by iPhone Users, Frequent Mobile Bankers and All Consumers
Figure 30: Smartphone Share of the U.S. Mobile Phone Market
Figure 31: Companies Received Mobile Marketing From by Type of Mobile Banker: SMS, Browser, Application
Figure 32: Consumers With Data, Text and Prepaid Plans in 2008 and 2009
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