Hit by the post-pandemic slump followed by social distancing and nationwide lockdowns, businesses are experiencing major impacts. It has become challenging for most businesses to keep their financial wheels turning due to less revenue generation and the general uncertainty in the global financial environment. Even in 2021, it is difficult to ascertain how long this pandemic will last, it is important to be prepared for all scenarios. Businesses need to re-look at their revenue management strategies in order to gain momentum.
Every business needs advertising to generate revenues. Traditionally businesses have been relying on age-old channels of advertising like Television, Print Media, Hoardings, Billboards, etc. but with the advent of digital advertising, things have drastically changed. Digital media has almost replaced traditional advertising media. Digital advertising has been further disrupted by mobile advertising as socially distanced consumers now spend more time on their smartphones, tablets and other mobile devices than they do sitting in front of the TV. In order to maintain the pace with changing consumer habits, businesses adapted their advertising campaigns by adopting mobile advertising strategies and mobile advertising revenue models.
Studies show that mobile ad revenues have jumped dramatically during the pandemic. Investing your ad spend in a strategic mobile advertising campaign can be an effective and profitable digital marketing strategy, no doubt in large part because mobile users spend 71% of their mobile usage time browsing the internet. (Source: Adespresso) That’s because of the ease and cost of these devices, not to mention the availability of wireless connections allowing people to tap in.
We are living in a new world. So, if you’re looking to get into mobile advertising to optimize your business’s revenues, you’re in the right place. Following are the best ways to generate revenue via mobile advertising :
1. Brand Exposure & Awareness
The revenue generation process begins often with a focussed brand awareness drive. If you’ve invested considerable time, effort, and finance into the development of a new product, it’s understandable that you can’t wait to show it off. Just as you wouldn’t stop running with the marathon finish line in sight, you can’t simply halt marketing efforts and place your new product on the shelf, presuming consumers will discover it on their own.
In these competitive times, traditional marketing methods like floor displays, magazine ads, and banners don’t go far. You must position your message in front of your busy, distracted audience when it matters most. Mobile advertising helps you do just that yielding high volume sales and revenue! Interestingly over 51% of smartphone users have discovered a new brand or product via mobile (Source: Shopkick). Innovative brand awareness campaigns powered by modern technology and platforms like moLotus have significantly contributed to high margin revenues and greater marketing ROI. You can design innovative moLotus mobile brand awareness campaigns.
2. Demographic & Language-based Targeting
A higher understanding of your target market will allow you to achieve overall better revenue results with your advertising campaigns. Mobile advertising gives you the ability to target audiences based on demography and language to ultimately generate more revenue. With demographic and language-based segmentation, you can better target your marketing efforts in specific regions. With moLotus mobile ads, it is possible now to target different demographics and languages. The moLotus ads make you capable of targeting specific customers you think are likely to purchase your product or hire your services. You can use customer data such as age and interests to fine-tune your ad campaigns to consumer needs.
3. Reach & Scalability
A fundamental advertising rule suggests that the more the ad reach, the better is the possibility of revenue generation. You can reach and handle millions of customers at the same time via mobile ads. Campaigns triggered by traditional platforms have fallen short in offering the kind of reach and scalability required to cater to this tech-savvy customer base. New-age online tools like moLotus offering massive reach and global scalability. Its spam-free technology quickly delivers automated ads to a huge customer database directly into their inbox opening up more revenue opportunities.
4. More Conversion & Lead Generation
More leads generation and conversion ensure more revenues. Mobile advertising is seen as an excellent way of generating and converting sales leads. Rich media formats like videos, high-quality graphics have been mostly used as the supporting element in mobile ad campaigns. But, gradually this notion has changed owing to the fact that video lead generation campaigns can be more powerful and effective in revenue generation than other ad campaigns that do not involve videos.
Mobile lead generation campaigns quickly prompt the consumer to buy a product or service. A mobile video with a tight and eye-catchy message can offer value to users. The innovative and non-spammy moLotus video ad campaigns are helping advertisers to attract more customers to their products. You can incorporate multiple customer response options offered by the platform in your video campaigns, adding more context. The ads can be used to build trust among the consumers and generate more leads and revenue than any other online video marketing platform.
Studies show that using mobile ads can increase product sales manifolds adding to revenues. They are an excellent way of increasing product recalls too. Consumers tend to remember the mobile video advertisements they watched within a month. More people purchase a product or service after seeing a video ad about it on their mobile inbox.
5. Upsell and Cross-sell
The probability of selling to a new prospect is 5–20%. The probability of selling to an existing customer is 60–70%. Upselling and cross-selling have proved to be one of the most important methods to increase average order value and boost the bottom line (Source: Groove). Brands have perceived high margin revenue opportunities in uncertainty and are fast adopting mobile advertising tools like moLotus to maximize their revenue via upselling and cross-selling ad campaigns. Some businesses already have additional services or products that they can readily upsell and cross-sell while others may need to innovate new ones that their customers need during this pandemic. All being done via mobile advertising tools. This is bound to result in an increase in average revenue per customer and generate ad revenue.
6. Intrigue & Interact more with customers
This is a good time to intrigue and interacts with customers about not only products and services, but also their innovative uses of them in the context of current situations to help build trust and confidence. Instilling customer confidence is expected to increase revenue generation manifolds. Brands should create informative and interactive mobile ad campaigns with multiple response options like SMS, Callback, USSD, Click URL, etc. using an innovative advertising platform like moLotus. Also, a variety of rich media formats including video, dynamic greetings, brochure, slideshow and showcase are supported by this platform. You can add product pictures, voice-over and music, creating attractive storyboards and HQ videos upto 40 sec. In the ad content for interacting with customers.
7. Optimize Cost
Post-pandemic advertising cost optimization has become the top priority for global businesses aiming at enhancing ad revenues. The advent of mobile advertising has led to the creation of effective campaigns on a shoestring budget. Many ad platforms like Facebook are gradually losing their shine on account of burgeoning advertising costs. If you are in pursuit of a cost-effective ad platform, moLotus could be an economical and effective alternative to other digital ad tools. It is an ideal option for you to reach your customers on their phones at a lower cost without depending on any app download or active internet connection.
8. Hyper-personalization
Personalization will be the prime driver of ad revenue generation. Studies have found that personalization drives a 5 to 15 per cent increase in revenue and a 10 to 30 per cent increase in marketing-spend efficiency — predominantly by deploying personalized product recommendations via mobile ads (Source: McKinsey). Therefore businesses should use customer data to segment and target customers via online personalized recommendations, offers, and messages to increase conversion rates, sales, and customer loyalty. In fact, they should embrace disruptive mobile advertising tools like moLotus to send hyper-personalized ad content to their customers for better engagement and revenue generation. moLotus goes to the extent of tailoring the brand’s message content exclusively on customer name and with relevant customer data.
9. Automation
Mobile ads are highly automated compared to other forms of digital advertising. Mobile advertising offers you the opportunity to transform every aspect of your ad creation and delivery into a fully automated system. All you need to do is embrace the right tool and technology like moLotus to create an end-to-end automated ad campaign and you are done. By automating your campaign, you can choose to earn more in the form of high margin revenues. As marketing automation technology continues to evolve, the breakthrough automation capabilities of tools like moLotus are meeting the monetary expectations of advertisers. moLotus can automate the entire customer-related process right from lead generation, customer onboarding, customer support, loyalty, feedback, and more.
10. Loyalty & Rewards
Revenue generation is the ultimate aim of loyalty campaigns and mobile loyalty ad campaigns can do wonders in this regard. Studies show that loyal customers are often ready to spend easily on your products and services than new customers. Mobile ads have disrupted traditional loyalty campaigns via innovative tools like moLotus, Loyalty plus, etc. For instance, moLotus offers the best ad campaigns delivered to the customer’ messages inbox for special occasions like birthdays, anniversaries, reminders, and festivals that are custom-branded with options for name, greeting, reward, call-to-action for each customer.
11. Real-time Performance Analysis
Well managed, analysed and optimized ad campaigns contribute significantly towards top-line and bottom-lines. Mobile advertising platforms are enabled with more effective real-time ad tracking and analyzing features. Mobile platforms like InMobi, moLotus, etc. are well-equipped with real-time progressive trackers. These tend to manage, analyze and optimize the campaigns. Research shows that top brand advertisers are optimizing their ad performances via moLotus’s real-time tracker and earning considerably via mobile ad campaigns.
Conclusion
The good news for advertisers is that the mobile advertising market will reach USD 408.58 Billion by 2026 accompanied by a tremendous growth in ad revenue generation (Source: Fortune Business Insights). Brands are exploring various mobile advertising revenue models and top global brands have earned high margin revenues via moLotus mobile advertising. It is the real mobile advertising platform offering the best revenue-return opportunity for you even in the current volatile market situation.
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The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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The Global Polyvinyl Alcohol Fibers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
The growing market for cognitive solutions and increasing demand for brain training by next-generation tech-savvy population are contributing to the growth of the cognitive assessment and training market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1039Clinical trials in terms of application is expected to hold the largest market share in the cognitive assessment and training market during the forecast periodClinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes.
The assessment of cognitive functions is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.
The market is expected to contribute the highest revenue for vendors offering clinical trials.Education vertical is expected to grow at the highest CAGR in the marketCognitive assessment solutions and services are used in the education vertical for screening prospective candidates for schools or colleges.
The leading cognitive assessment and training vendors for this vertical are Pearson Assessment and CogniFit.North America is expected to contribute to the largest market share and Asia-Pacific to grow at the highest CAGRNorth America is expected to hold the largest market share and to dominate the cognitive assessment and training market from 2016 to 2021, due to the increasing awareness among population about adopting medication for cognitive diseases.
The new generation in this region is more concerned toward the benefits of cognitive training, which is not just limited to patients with cognitive dysfunctions.
The new report on the Cutlery market provides estimations of the size of the global market and share and size of key regional markets during the historical period of 2015 – 2019.
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The key regions comprise the following geographical segments:North America (U.S., Canada)Latin America (Brazil, Mexico, Argentina, Rest of Latin America)Europe (Germany, Italy, France, U.K., Spain, Benelux, Russia, Rest of Europe)East Asia (China, Japan, South Korea)JapanAPEJ (China, India, Indonesia, Thailand, Singapore, Australia & New Zealand, Rest of Asia Pacific)South Asia & Oceania (India, Thailand, Indonesia, Malaysia, Australia & New Zealand, Rest of South Asia & Oceania)Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of Middle East & Africa)The detailed assessments focus on, inter alia, on the regulatory and macroeconomic frameworks, prevailing pricing structure, imminent investment pockets, and emerging application areas.
Taking the analysis further, the study helps readers get a better understanding of the trends characteristics of the emerging markets, including government regulations crucial to growth of such markets.
