5. Financial Impact
Channel Cost Reach Number of People Per $
Mobile Website $ 30,000 36.40% 2839.20
Mobile App (iPhone Only) $ 30,000 6.75% 526.67
Mobile App (iPhone, Android, BB) $ 90,000 23.04% 599.00
Why is this a trend you ask? That’s easy. While mobile web and mobile apps have co-existed for years, the tide is beginning to turn in favor of mobile web. This is due to improvements made in web site optimization as well as technologies such as HTML5, which allows sites to be built that are friendly to a variety of mobile platforms. The trend also says that companies who don’t have any sort of smart phone presence will enter into the medium with a mobile site.
As you can see from the chart, mobile web is being utilized across many businesses and is poised to significantly increase going forward. I think it is safe to say the goal is 100% utilization. Your phone is with you all of the time, marketers would be living under a rock if they didn’t want to reach this segment of people.Companies are moving to mobile web because it is easier to build vs. apps. Mobile web is also less capital intensive compared to apps, as it is not only cheaper to build but cheaper to maintain (no addition contracts in place needed to maintain web, one site fits all approach). I’ll touch on the financial impact of mobile web in a moment.
One of my biggest personal takeaways from my expert interview was how much my eyes were opened to the possibilities of mobile web as the technology continues to improve. While the most obvious future of the trend is 100% involvement across all of the tasks mentioned earlier, I came up with two examples of future uses that I think really drive home the trend’s potential.Nike + -- Currently an online community/app for only Apple product users, Nike + could benefit from mobile web. A few tweaks to their website could allow for any smartphone to easily access their online community. Coupled with the phone’s GPS, a runner could log in to the website from their phone, sync up, and away you go. No need for the current app system. This could easily be incorporated in other fitness systems.Business Networking – How many of us get business cards on a daily basis? I know I do. Instead of losing them, mobile web could allow us to keep real time track of our contacts. After a card is scanned onto a mobile website with a QR code, the contact’s information is stored on the phone and on a website. As the contact’s information changes, the contact can scan their new card onto the website, which will update immediately along with your phone. This would fill a networking void left by LinkedIn or other social networking sites.
While I included several financial related tidbits about the trend, I think this chart summarizes the financial impact of this trend. This chart is based on an assumed 234 million smart phone users. The numbers speak for themselves. If for no other reason but for financial gain and greater reach, it would be absolutely beneficial for companies to migrate to or establish a mobile web presence.
So is mobile web right for your business? Should your Company get ahead of the Trend? I think so, and so does Flavor Flav.