RadiumOne released "The Impact of Mobile Signals on the Consumer Journey," a report in conjunction with the Mobile Marketing Association.
Interviews with over 300 senior marketers revealed that although the vast majority (80%) agree that consumer usage of mobile devices has significantly increased the volume of digital engagement data at their disposal:
- Two-thirds admitted that they're not confident they've identified the most important signals in their customers' journey
- Over six in 10 (61%) still aren't fully confident in their ability to find new profitable customers
- 58% are not fully confident in their re-engagement efforts to alleviate customer churn
- Over 50% aren't confident in their ability to acquire new customers and re-engage lost ones.
"The industry talks constantly about the flood of new data generated by digital engagement, and this is especially the case with mobile, given how indispensable smartphones are today," said Bill Lonergan, CEO of RadiumOne. "But the plain truth is that most marketers simply aren't confident in their ability to capture and utilize data effectively. As a result, we must help them in three key areas: identifying the right consumer signals of interest and intent, building accurate insights and predictions and activating these to maximize return on marketing investment."
Indeed, when it comes to using data to improve branding, marketers cite "knowing where consumers are on their journey" as their biggest challenge (cited by 38%). For driving sales, it's "knowing what the most important customer interaction points are" (also 38%).
The most valuable data points
Marketers cited content sharing from apps (29% of those surveyed), mobile site visits (28%) and app installs (27%) as the most valuable signals for improving mobile branding. For mobile direct response (DR), the most valuable signals are found in purchase data (38%), geo-location and bookmarked content (both 35%).
Lonergan acknowledges that driving purchases on mobile has "historically been a challenge compared to desktop," so brands that want to increase mobile transactions should "focus on the in-app experience – from having a simple UI, easy-to-access content and sharing features, and an easy way to buy."