Marketing is the most important part of a business. Marketing definitely has a huge impact on the overall performance of a particular product in the market. A right marketing strategy can do wonders to the success of any product or service on offer. Marketers have various ways or methods of marketing today that they can deploy. The rise of mobile phones has given way to another marketing method -- mobile marketing.
The mobile phone has become the preferred medium of communication for the masses across the world. Developed nations already have a huge mobile density. The developing nations are seeing enormous growth with hordes of people being added to the humongous pool of mobile phone users every day. This explosive growth in mobile phone usage makes mobile marketing increasingly relevant.
According to Smaato Mobile Advertising Trends 2011 that were compiled by Smaato, Inc. which is a mobile ad company, the spending on mobile ads is estimated to be between $11.4 billion to $20 billion.
Mobile marketing can be familiarized with by understanding its definition. In a broader sense mobile marketing is a marketing technique that uses mobile phones as a medium for reaching out to potential customers. Mobile marketing could be best described as any form of advertising to potential customers that is not limited by their location.
Mobile phones come with a whole range of features. These features can be used for mobile marketing sometimes. Mobile features such as SMS, MMS, Bluetooth, Browsers have been effectively used for mobile marketing.
It must be understood that mobile marketing is comparatively a new form of marketing. Just like any other marketing method, mobile marketing also has its share of challenges. Mobile marketing calls for new and innovative methods of marketing that can reach the masses.
It has a great potential but at the same time, old techniques may not work. If you get the mobile marketing wrong, it may back fire and turn into such a situation that may not be managed easily.
In next few chapters, we will discover different aspects of mobile marketing.