Top Benefits of Mobile Advertising for Small Business Owners in 2023by Buana Sari Digital Marketer
In 2023, it is no longer a secret that mobile advertising is a big game-changer for small and medium business owners. For small businesses desperate to catch the attention of more customers and reaching out to them via their mobile phones have never been more important. The utilization of mobile advertising platforms and technologies have resulted in larger revenues.
Statista reveals that mobile devices including smartphones and tablets have become integral part of communication for the target customers of small and medium businesses. In 2020, mobile advertising spend reached a record USD 223 billion worldwide, and as per the latest predictions, this figure will cross USD 339 billion by the end of this year. Overall, the mobile ad market size is estimated to double by the year 2024, pointing out how these figures can change the game for small and medium businesses bringing in more marketing revenues.
However, for SMBs or SMEs, mobile advertising could be a tricky thing. Key questions - Who? What? When? - which need to be considered while engaging in mobile promotional activities. Latest research made on SMEs highlight that the primary organizational structure responsible for digital advertising is in fact the small business owner. Also, digital advertising for small and medium businesses is challenged by tough competition, limited budgets, poor brand visibility, and difficulty in maintaining a positive advertising ROI.
As cited by small business owners worldwide in the beginning of 2023, building brand awareness, capturing leads at low costs, driving more sales, retaining more customers, establishing a stellar position in the corresponding industry are the key marketing goals. That being said, mobile advertising is not merely a defensive play towards reaching these goals. Instead, it is a proactive strategy that can be achieved via careful adoption of the right technology or tool.
These mobile technologies assist small business owners to get the most out of their money and time invested. By embracing the right mobile advertising tools, small businesses can level-up the competition, compete with the big industry players, drive revenue growth and maximize profits. The small entrepreneurs can easily automate marketing activities and collect data to analyze and optimize ad campaigns.
Here are the top benefits which small business owners can get by adopting the right mobile advertising tools and technologies:
1. Boost Personalized experiences
Customers want personalization in every aspect of life. They are more likely to spend their resources on products that align with their needs, wants and preferences. Deloitte Consumer Review highlighted that more than fifty percent of customers showed interest in buying personalized products.
Personalization is the best way for small and medium businesses to stand apart from the cut-throat competition. With the advent of mobile advertising technologies like moLotus, businesses can pre-identify customer preferences and therefore can hyper-personalize advertising communication delivered to customers in rich media formats at the right time and right place. In view of this new advertising possibility in 2023, creating personalized mobile advertising to meet customers' needs becomes a priority for small and medium enterprises.
moLotus breakthrough technology offers multiple personalization options such as customer names, greetings, rewards, etc. moLotus personalization capability leverages massive customer data to deliver hyper-personalized messages in SMB customer’s mobile phones. The personalized adverts reach directly to the inbox of the customer and exist there until deleted by the customer himself. By creating hyper-personalized offers and recommendations small business owners can quickly engage their growing customer base and maximize revenues. The level of personalization is unmatched to any other advertising platform.
2. Bring Accuracy to Customer Segmentation
For SMBs the biggest question bothering in the past has been how to tailor advertising efforts to reach the right audience. Customization comes as a solution to the challenge that involves dividing customers into groups based on similar traits.
By segmenting customers using mobile advertising tools, small business owners can make the best use of their advertising budgets by targeting the right prospective customers. They can directly target those who are most likely to convert, without wasting resources on those customers who are not ready to purchase.
The most common types of customization includes demographic targeting, geographic targeting, psychographic targeting, behavioral targeting and more. Small business owners have been experimenting with several tools for targeting the right customers with little or no results. Tools like Facebook Ads and Google Ads have offered some kind of customization options but have proved to be costly for small and medium businesses who have been already constrained by low advertising budgets.
In 2023, small business owners have the privilege to target and directly reach an unlimited number of customers via mobile ad tools like moLotus just in one go on their phones irrespective of phone model or type. The new mobile technology offers vivid targeting options based on location, language, interests, interaction, behavior, demographics, and more.
3. Performance-based Lead Generation
Much of SMB lead generation has been restricted to cold calling that goes nowhere. Surveys show that small business owners spend up to 80 percent of their time just trying to dig up prospects that might be interesting, thus wasting their time on dead ends and instead of connecting with hot leads. Proven mobile platforms like Facebook, Google, Hubspot, etc. have generated thousands of leads for small businesses. But most of them offer leads at a high cost per lead.
2023 has introduced SMEs to a radical concept: pay-for-performance lead generation which means capturing high-quality, high-volume exclusive leads. To help small and medium businesses that struggle with attracting and retaining prospects, top mobile advertising technologies like moLotus allow them to only pay for qualified sales leads captured — a no-risk proposition for risk-averse SMBs.
moLotus mobile video lead generation campaigns can be much more powerful and cost effective than other advertising tools quickly prompting SMB consumers to provide contact info like name, contact number, address, etc. They are efficient enough to attract more customers to the brand and its offerings. The video ads build trust among the customers, generate more leads and even convert them quickly.
4. Interact instantly
Many small and medium-sized enterprises (SMEs) have been taking for granted the level of interaction being required to build and maintain a good customer relationship, reputation and finally conversion. However, things are changing now. There’s growing acknowledgement among the SME owners of the importance of becoming customer experience (CX) leaders for better business outcomes. Delivering exceptional CX requires superior two-way brand-customer interactions. Mobile technology is digitizing customer interaction and revolutionizing the way small businesses engage with their consumers.
Nowadays, customers are growing impatient. They want quick answers to their questions. Small business owners are trying to solve the customer queries via mobile communication using various social media platforms like Facebook, YouTube, Instagram, Tik Tok and other email platforms. They are not attuned to the current SMB marketing landscape. Research has shown that these platforms have tried to push small businesses closer to their customers but lack response options. This year more and more small businesses are moving to innovative and interactive real mobile advertising via platforms like moLotus which offers quick and easy interaction options including SMS, Call back, Web link click, USSD, and more. Both brands and customers are at ease in terms of communication. Thus, ads are no longer one-sided communication with the advent of moLotus powered easy interaction options. SMEs are reporting an increase in customer satisfaction with more customer communication and easier customer buying journeys that further led to higher customer retention and revenues.
5. Launch New Products
The quest for innovation and launching of new products to market acceptance are main concerns of small and medium enterprises across the globe. New Product Development (NPD) is imperative to keep the small enterprises competitive in the current market scenario with evolving consumer demands.
This year SMEs are applying new advertising methods, tools, strategies, techniques for successful new product launches. Mobile video ads are being applied proving effective in launching new products or services. Surveys highlight that the majority of SMB customers prefer watching moLotus explainer video ad campaigns about new products and services facilitating the launch. Having an explainer video in the mobile ads can do wonders for the launch by bringing quick market acceptance. It dramatically increases the volume of a business regardless of their size.
More and more small businesses are creating mobile video ads via tools like moLotus, WhatsApp, YouTube, Facebook, Google etc. to explain a difficult concept for the customers. The 40 sec. moLotus mobile videos based on product launch have proved to be more attractive and innovative leading to more clicks, impressions and conversions. The SMB consumers are now capable of making informed purchase decisions about new products based on the detailed info provided in the moLotus mobile video ads.
6. Tap Global Business
Experts agree that scaling a small business globally is hard. Over the years most entrepreneurs and small business owners have been struggling to scale their businesses. If they are not focused on expansion this year, they are certainly going to lose market share to big competitors — who most definitely are focused on global scalability. Mobile advertising has come as a big help for small businesses striving to go global in 2023.
With a robust mobile advertising strategy and tool in hand, SMEs are capable of achieving a more diversified and substantial global customer base than otherwise reaching customers via traditional tools. The platforms such as moLotus, Expandi.io, Zapier, HubSpot, InMobi, etc. are assisting small entrepreneurs in quick adaptation of changing global customer demand, reaching out to new revenue opportunities.
Meanwhile, the competitive international business landscape throws fresh challenges for SMBs, mobile video customer interaction platforms like moLotus are maximizing the reach of ad campaigns, showing the ads to customers in targeted location and language. moLotus stands ahead in reaching millions of customers daily just in a short span of time on their phones irrespective of phone model or type - be it a basic feature phone or advanced smartphone or high-end Apple i-phones.
7. Track & Analyze Performance
It is important for small business owners to track and analyze ad campaign performance closely as they need to stick to shoestring marketing budgets. For small enterprises, mobile advertising platforms offer data analytics for reviewing and monitoring campaign performance and managing revenues.
Mobile analytics provided by tools like moLotus, Google Analytics, Facebook Analytics track customer journeys, record their behavior, and report on the campaign performance. They are used to improve conversions, and are the key to revenue management.
moLotus enables small business owners to implement their advertising strategy in real-time, tweaking their mobile ad campaigns with evolving customer behavior and preferences. It empowers them with robust real-time campaign tracking and big data analytics. With access to real-time data analytics, small businesses are capable of enhancing performance, optimizing effectively, and, therefore, earning greater advertising ROI and return on ad spend (ROAS).
8. Boost Customer Loyalty & Retention
Customer loyalty campaigns have been an inexpensive way to increase sales and customer retention for small and medium businesses. They can prevent customers from visiting competition via appropriate loyalty and reward campaigns while increasing the number of purchases an average small business customer makes each year. This implies time and monetary savings for SMEs with greater profits and fewer lost customers.
In the beginning of 2023, several small business owners are witnessing success in customer retention by introducing new reward campaigns for their customers via new-age mobile advertising platforms like moLotus. The campaigns ensure high customer retention rates with the majority of customers repeatedly choosing to purchase products or services for the particular SME, deepening their bonding with the brand.
Many small business owners using customer loyalty & rewards programs delivered via mobile apps like Spendgo, Smile.io, Shopkick, etc. are gradually switching over to moLotus loyalty campaigns for better results.
Studies reveal that moLotus powered loyalty campaigns are fueling revenue growth by delivering hyper-personalized messages to customers for special occasions like anniversaries, festivals, birthdays, reminders, etc. and that are custom-branded with options for greetings, name, rewards, call-to-action for customers. Small businesses are sending different kinds of reward-based coupons directly to customer’s mobile inboxes. These loyalty & rewards campaigns suit their marketing budget and have boosted customer loyalty, adding to the conversions.
For SMEs and SMBs it is quite evident that mobile advertising would rule 2023. Having tremendous revenue potential, mobile ad platforms like moLotus are already assisting small businesses in creating unique cost-effective advertising campaigns, enabling them to earn high margin revenues this year. Consumer ease in mobile video advertising provides a competitive edge to the small businesses over their existing competitors.
Created on Feb 23rd 2023 04:23. Viewed 123 times.