Whether social media has reached saturation point has been bandied about for some time now, but no one can predict where social media is headed. In saying that, eMarketer predict a slowdown in social networking in developed countries over the coming years but there is definitely still room for growth as penetration is still low for many segments of the population.
But mobile is really where we’re seeing growth, recent research by Amarach (May 2011) found that 37% of all Irish mobile phone users owned a smartphone and this is only going to increase. Right now people are using their smartphones to purchase music and apps but this is going to change, soon consumers will be using their smartphones as a replacement for credit cards or cash. In fact, Mastercard are working with mobile manufacturers and operators to embed tags on mobiles which may render plastic dead.
Smartphones also allow consumers to receive notifications of discounts depending on where they are located at any particular time. For example you might be at a particular location and get a message saying that the coffeeshop next to you is offering two coffees for the price of one or something similar. This market is nowhere near fully optimised and will experience huge growth in the coming years. Related to this are digital discounts and vouchers. These work either as discount coupons downloaded via iPhone apps (O2 are already utilising this as part of the O2 Treats offers) or as barcodes sent to mobiles offering free products or gift vouchers. The nice thing about this is that it is cost efficient, trackable and paperless. This will create rich data for brands as they will be able to track specific locations, towns and times of day that coupons were redeemed.
QR codes are also an exciting mobile development, they’re going to move from experiment to an essential ingredient of the marketing mix over the next few years. In terms of marketing, QR will become widely used in advertising as a means to direct users to online content, thus making advertising much more engaging, rather than the consumer passively receiving content.
Mobile is also to be positively effected by Augmented Reality (AR) – AR can be used to promote products via interactive AR applications. AR will allow smartphone users to get information about their surroundings, translations or street signs – or even access the social profiles of passers-by! Disney have already used this at the premiere of Prince of Persia. Android and iPhone users who were standing near one of the outdoor film posters could play the movie trailer and play an augmented reality game. In return for this they received value points for playing the game.
So all and all, mobile is going to grow hugely. All of these new developments will force more and more consumers into the smartphone market as they will find it increasingly difficult to do even the most basic tasks without one. In order to stay afloat marketers must embrace these changes as technology is going to become a serious differentiator of competitive advantage. Technology is going to become the business.
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