With the International Monetary Fund (IMF) reducing its GDP outlook for South Africa to a dismal 1.3% for next year, from an initial acceptable forecast of 2.1%, it’s clear that demand for goods and services will continue to be weak in 2016.
This translates into lower revenue potential and bottom lines that will feel the pressure next year. The obvious solution is for organisations to cut costs while seeking more efficient ways of marketing their wares. Mobile marketing scores highly in both the cost savings and efficiency departments.
Let’s take a look at exactly why the mobile route offers a cost-effective options for marketers:
1. Mobile’s measurability means wastage can be virtually eliminated. The fact that cellphones are very personal devices means that brands know who they’re interacting with, when, where and how. Inefficient campaigns can be rapidly identified as such and replaced with campaigns that hit the mark.
2. Mobile shortens the time between consumers identifying a need and the subsequent transaction required to satisfy that need. This greatly improves cash flow. In addition, costs are reduced by streamlining the channel and reducing the number of actions required to purchase.
3. Mobile eliminates the need for a dedicated, on-the-ground, cold-calling sales force. No more petrol cards, expense accounts and management fees associated with going direct to the consumer – courtesy of mobile technology – can radically reduce marketing costs.
Over the past several years, the cost of conducting a mobile marketing campaign has been reduced dramatically. This is particularly true with text-based campaigns as the cost of individual bulk SMS messages has declined to mere fractions of cents. If one adds the valuable advice that dedicated top-tier mobile marketing firms such as InTarget can provide to advertising firms, brand managers and others, then the mobile marketing green light is really shining bright!