Smartphones are Pivotal in Your Marketing Strategies- When it comes to loyalty Marketing there is nothing new that captures the attention of the public but the concept of the recent programs and applications that come with it are much of a fuss. Businesses are now in a position to connect with their customers in a much personalized manner, in an efficient and timely manner. An example is a scientific approach to customer data mining and management that enables businesses to track their customer’s behavior and as such establish the loyal customers from the occasional ones for reward purposes. The biggest contributor to these trending marketing styles is the smartphone revolution that features smartphones that use marketing apps to do online Business.
Basic concept – One of the fundamental concepts of online marketing is to improve customer comfort as they do their day to day businesses; customers no longer need to physically walk to the seller of a product in order to purchase a product not to mention seeing it. The customers can achieve the same thing with their handy smartphones through the different business applications that are installed. This is the power of loyalty marketing. An opportunity to achieve such mundane tasks with minimal effort is, as a result, very valuable and a jackpot for any business that can identify and successfully integrate it into its daily routine.
Sample Case studies- Take a case of the Uber application that has busted into the scene to ease the life of those that find traditional taxi calling a burden. The app appeals to the younger niche of the business population and also takes advantage of the aforementioned customer’s desire for improved service delivery. The app also has a GPS tracking system that customers find fancy over the traditional taxi.
Besides customer reach and satisfaction, another reason to go online, from a business perspective is to minimize costs. Stryker Corporation is just one such example. This multi-billion-dollar firm, with experience in developing medical applications, has managed to save a lot of money that would have been used for printing purposes. This is because instead of using the traditional paper to present pricing and leasing quotes to its clients, the firm utilizes the softcopies of the quotes in the tablets or whichever digital wallet platform that their clients are using. This concept has made the firm acquire a stable and dominant online market position.
Money ball situation-The cost of developing an application is normally around $200 for applications that are very basic but this figure could run to the tune of $8000 for advanced softwares. This is the costs incurred in the development and running phase only when the errors have not come into play. Every application, when developed, comes with a risk of a bug that needs some technical intervention in order to maximize and ease consumer usage. The errors can manifest due to a myriad of reasons some of which may include the increased traffic that comes as a result of the success in the market. Rectification of these bugs and errors also increase the overall cost of the app in question. Perhaps of equal importance in error correction is the sovereignty and security of the firm as well as the customers attributed to the software in question. Taking the case of banks as a reference point, the online banking business is normally under constant threat of security breach from malfunctioning applications; which s why banks are constantly being updated with debugging processes to tighten their security while simultaneously protecting their clients’ as well as customers’ valuable information.
Impact-In order to successfully integrate a system that impacts greatly on the market, the firm in question should constantly make advanced improvements to its predecessor smartphone apps. They should also analyze the statistical app usage amongst its customers in order to gauge, with absolute accuracy, the extent to which the app is penetrating the market. This will be an indicator of the level of change the mobile app can trigger, both in business growth for the firm and long-term sustainability of a reliable market.
Conclusion-The use of smartphones to do business has an instant impact in the modern business world. This is largely attributed to the way these cellular gadgets with improved capabilities have penetrated the market promoting the loyalty culture in the process. In the 21st century, virtually all businesses are no longer traditional; which is to say that firms, both big and small, can now access their customers via the platforms they love using; their smart phones. Besides the power of a smart phone advertising can now be optimized for geographical relevance; businesses can now establish their online dominance within their location.
Reference: FuseCrunch, Glozine
This post first appeared on Startups, Entrepreneurship, Management, Technology, please read the originial post: here