The Economics Of Permissioned Mobile Phone Numbers
Greeting and Happy New Year!
By all accounts, 2015 was a great year for mobile commerce. mShopper clients’ aggregate network sales were up 20% from last year. And conversion rates were up even more! At mShopper, we expect this trend to continue as our clients learn how to use mobile marketing to eliminate the missing 1% of mobile conversion rates. In recent blog posts, we talked about the missing 1% in mobile conversion rates, the new mobile marketing paradigm, and that marketers need new tools to engage their mobile customers correctly.
mShopper’s mPower Mobile Marketing toolkit is an amazing source of such tools. mPower is a cloud-based collection of the 5 such tools. Of these, the most important tool may well be our mConnect™ tool for creating a database of “permissioned mobile phone numbers”. If you have not heard this term yet, rest assured you will! Because given our new mobile world, we believe that the most important asset retail enterprises will have going forward is their database of permissioned mobile phone numbers. Indeed, we profoundly perceive that those companies who amass and nurture the biggest database of mobile permissions will absolutely win the game when it comes to mobile marketing!
What is a permissioned mobile phone number? What makes it so special? How do I go about collecting these permissions? There are many, many questions. But lets answer these critical ones
A permissioned mobile phone number is a mobile phone number where the user has explicitly conveyed permission to contact and/or engage them via text messaging and or location. Marketers must have these permissions in order to engage a customer via text messaging and location. These permissions are a prerequisite to being able to even play in the brave new world of mobile marketing. And once you have them, you can unleash the full power of space, time, and impulse powered mobile campaigns. Want to send a text message announcing a flash sale? You need a permission. Want to send a push notification when a user enters your store? You need a permission. Indeed, engaging a customer during any or every micro moment requires their mobile number and their permission.
Of course new tools are needed to gather these permissions because these permissions are all new. Engaging a customer via email is simple. All you need is their email address. To engage a customers through the mobile medium, you require a number plus two approvals, text messaging and location approvals. Does your current CRM allow for this? mConnect from mShopper.com does.
And here’s another thing: Customers who give you their mobile phone numbers and permission to engage them via text messaging and/or based on their geographic location are your best customers for sure! mShopper.com conducted a 4 month evaluation with a large, online electronics retailer, and the results we’re incredible. We found that the expected lifetime value of a permissioned mobile phone number was more than 17 times that of a regular customer. You are going to want our the results from this study. It can really help you with 2016 budgeting and moer. Click here to download your own copy of our latest infographic. Better still, get in on the wave and Contact Us Today!