Are You Ready? The Mobile Everything Economy Is Here Now
It’s undeniable that the mobile phone has taken over the world. It keeps us up to date on important matters, connected to the people we care about, helps us conduct business, and can even wake us up in the morning after monitoring how well we slept. If you’re a marketer but you aren’t thinking about how to best engage mobile users, you could be missing some big opportunities. This blog should help spark some ideas.
In a recent Robinhood Snacks financial newsletter, the editors stated “The mobile-everything economy is here… From paying for coffee, to managing finances, to boarding planes, our phones are our passports for the modern world. The coronaconomy has made us even more comfortable with tapping for nearly everything...”
It’s true that the mobile phone truly has become a ‘passport to the modern world’, because the numbers don’t lie. According to GSMA, an organization that represents more than 750 mobile operators around the world and hosts the industry leading Mobile World Congress (MWC), the number of unique mobile subscribers is expected to reach 5.8 billion by 2025.
Not only is the quantity of mobile subscribers an attention-getting number, but the mobile industry’s contribution to global Gross Domestic Product in 2019 was estimated at $4.1 trillion and is expected to grow to $4.9 trillion by 2024.
You may think, sure I get it. Mobile phones. Everyone has one and we do more with them. But if you follow what entrepreneur, author, and speaker Gary Vaynerchuk says, he believes we should all be taking the mobile phone more seriously in how we think about marketing, selling and supporting the products we sell to our customers.
So what does all this have to do with call tracking and how to best engage mobile users? Everything.
The following is how one iovox customer revolutionized their ad sales team with something as simple as an SMS.
One leading marketplace customer has an entire department devoted to ad renewal sales. It used to be that ads would run for a period of time, and if an ad expired but the product remained unsold, the call center would call the advertiser to confirm whether the party would like to continue running the ad and if so, for how long. This was an incredibly laborious, time consuming, expensive, inconvenient, and resource intensive process.
Well, according to Inc Magazine, stars like Ashton Kutcher and Gary Vaynerchuk are using text messaging to build better relationships with their communities. With text message open rates at 98% with a 90% engagement rate, it’s tough to argue that texting isn’t a meaningful method of interacting with current and prospective customers.
As part of the ad renewal overhaul strategy for the leading marketplace customer, they smartly decided to experiment with using SMS as a method of advertising renewal using the tools within the iovox API.
The implementation was an absolute success.
Now when an ad is about to expire and the product remains unsold, the advertiser is automatically sent a text message with the option to renew the advertisement simply by replying to the text message.
What used to sometimes take days or even weeks for the call center agent to track down the advertiser, hope to connect live and if not, leave a voicemail and hope for a return call, is all done now in a matter of seconds because of the functionality enabled by the iovox API and the integration with the customer’s advertising platform.
The staff that were previously devoted to these labor-intensive efforts are now free to be reassigned to other higher priority tasks within the company without increasing fixed costs.
More sales. Happier customers. Better workforce utilization. All because of the iovox API and SMS enablement.
At iovox we’ve learned that a series of small incremental changes made over long periods of time can add up to really big financial wins for our customers. For the leading marketplace, something as simple as activating a new element within the iovox API has truly transformed a large function within a bigger business and has made the company easier to connect with from the perspective of its mobile customer base.
If you’re thinking of redesigning your business process to be more mobile friendly, connect with us. Chances are we’ve already helped a customer with the same challenges your company has, and we’ll help you figure out if there’s something in our bag of tricks that can help improve your business.
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