Three Mobile Hotspots That Could Spawn The Next $100 Billion Company

July 10, 2014 , , , , ,

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Industry analysts believe that the next $100 billion dollar business will be mobile. Already, many of the largest businesses in the technology world have a mobile component and more are being added every day. But amidst this incredible diversity of fields that can benefit from a mobile offering, where will the true titan of mobile emerge? Here are three hotspots that we believe could easily produce the next major business in the mobile field.

Messaging

With Facebook spending $19 billion on Whatsapp, there is no question that mobile messaging has taken off. The big question for mobile messaging, then, is monetization. Whatsapp pledges to never show ads to its users, and charges $0.99/year. Likewise, Facebook has assured Whatsapp that they will not have to compromise their principles.

This presents an interesting problem for mobile messaging companies with ethics similar to Whatsapp. The first to solve it in a financially viable way will likely be the winner, and could definitely be the first massive mobile company.

Commerce

Shopping is transitioning towards m-commerce with new apps that beautifully showcase products. While massive e-commerce sites like Amazon may have a reasonable foothold on the mobile commerce space, there is still a lot of uncertainty in their mobile offerings.

One of the problems with the modern shopping experience is the massive catalogs of products available to consumers. Smaller e-commerce sites can target individuals to a greater degree and offer a more commoditized product than the big guys. Mobile commerce companies have access to more options than their desktop counterparts, such as better location data and the ability to use push notifications.

Purchasing

Mobile commerce isn’t just about the nice shopping apps that are prominent in the App Store, it is also about making payment more seamless, and the startup that can really get the payment system down will be on top.

With iOS 8, Apple is allowing third party developers to begin using the fingerprint sensor found on the iPhone 5S and newer devices. Some mobile commerce startups will be able to use this functionality to make purchases even simpler, all you need is one finger. This functionality could even be used to have multiple payment methods on one device; one for each member of the family depending on the fingerprint.

Mobile is huge, but even though we’re starting to see some front runners emerge, the kings of mobile have yet to be crowned. It is entirely possible that nobody has even heard of the new billion dollar companies yet. The possibilities are endless.

 

Justin Profile PictureThis post was guest authored by Justin Fowler. Justin is a student at the University of Texas at Austin and the co-founder of Audio Press. You can find him on Twitter and on his blog.

Increase Content Exposure with a Mobile App

August 13, 2013 , , , , ,

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Excellent content is a prerequisite for effective business engagement nowadays. However, anyone who has dipped their toe in the pool of content marketing knows that the content itself is only one part of the battle. Content exposure is equally, if not more important to great content. After all, the most eloquent and helpful guide in the world is useless to you if no one ever reads it!

In the past, email and social marketing were the primary ways to spread content. Let me state up front, these methods are the standard for a reason. They can be incredibly effective assuming you have a large audience. However, in terms of raw efficiency they can not match a mobile app.

You can reach users who have downloaded a mobile app through push notifications, which completely change the game where engagement is concerned. Consider the fact that a 20-25% open rate for emails is generally considered very good. Now, compare that to push notification views. Because push notifications appear directly on a customers smartphone, views of 40% or higher are not at all uncommon. An app allows you to cut through the clutter and reach your customers directly.

Fostering a Mobile Community

April 16, 2013 , , , ,

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Mobile strategies are highly valuable because of their ability to directly reach customers. It is tempting, then to make the majority of your messages direct-sales focused. Unfortunately, there is almost no better way to have your mobile message undermined and eventually ignored.

A far better strategy for most businesses is to create a mobile community. Imagine the value for you brand if customers actually look forward to receiving direct messages from you on their mobile devices? Fortunately, this goal is not out of reach, and a few simple steps can help you create a thriving mobile fan base.

1. Focus on Human Contact

Do you like being talked to by a robot? Loooove getting an automated message instead of a real human on the phone? Neither do your customers, and the feeling translates even more so to the direct messaging capabilities of a mobile offering. Messages without human elements come across as annoying and eventually downright obtrusive. On the other hand, messages and offers that read like they’re coming from a human being with a personality will foster real connections with your customers. Don’t be afraid to toss in some humor, opinions or excitement in your mobile messaging. Your customers will thank you for it.

2. Reduce Frequency, Increase Value

Unlike a presence on a social network, mobile communities do not thrive on constant interaction. Rather, they appreciate the knowledge that whenever they receive a message it will include some particularly exciting or valuable piece of information. How much is too much? That depends on how much real value your business has to offer. For “promotion” type deals that generally amounts to just a few messages per week. However, if you regularly feature events, contests, or other interactive types of engagement then you should definitely update your mobile audience as often as needed!

3. Capitalize on Real Time

It is tricky to layout a blueprint for a real-time engagement strategy, primarily because the very nature of real-time is ever-changing! Still, it is important to remember this: you have a direct line to your customers that will let you reach them in real time. Use that to your advantage whenever possible. Obviously, great times to do this are when you have a festival or other major event that lends itself to time-based promotion. However, that is just the tip of the iceberg. The more creative your real-time engagement, the more excited your customers will be, and the more value you can derive from your direct messaging and promos.

These steps will help you to begin down the journey of creating a community that will exponentially increase the value of your mobile strategy. These tips are fairly general, so we would love to hear your comments about some of your specific strategies that you’ve used to connect with your customers!