Hundreds of mobile industry professionals gathered yesterday for Mobile Monday Boston to hear about actual mobile case studies and enjoy some wine, from Drync. The packed house listened intently to five presenters and engaged in a Q&A. Jumptap’s team was there in strength, and having been to many such similar events, we were pleased to observe increasing consensus among mobile leaders. Much in line with Jumptap’s own recommendations, each panelist seemed to hit on the same three findings:
1. Learn via tests
In any rapidly growing and changing space, having the freshest data is critical. Industry reports, like Jumptap’s MobileSTAT or Celtra’s infographic are great resources, but advertisings can also learn from their own tests. One large, established, online company, now battling new players in the mobile space, has run over 550 mobile campaigns in two years with 10% of their budget dedicated solely to tests. Staples “Black Friday” campaign was described as essentially a series of well integrated, small tests. Nanigans drove double-digit improvements of a Black Friday campaign day over day by learning from the “test results” of each day.
Bottom line: Dedicate a liberal portion of your budget to tests, and spend with companies that offer you the best insights (e.g. Jumptap’s brand new Audience+ Insights Platform).
2. Measure more than clicks
Nanigans’ Sutha Kamal drove home this point with an engaging series of graphs likening what happened in online to what needs to be done in mobile. First advertisers bought eyeballs, then clicks, then actions, and now find the most success by evaluating which actions are most profitable. Similarly, Nanigans sometimes helps clients determine that it can be worth paying a higher cost-per-acquisition (CPA) in order to engage with consumers who will spend more in the long term and improve ROI (i.e. a mother of three vs. a single Mom.) Fiksu also presented an interesting formula for determining ROI comparing the value of organic, banner, and incentivized App Store downloads (below.)
Bottom Line: Work with a network that can accurately track app and web conversion events.
3. Offer value via experience
The most resounding message of the night can be summed up below:
What the panelists meant was that every engagement with a consumer needs to be an experience that offers value, not a cookie cutter solution. In the case of apps or mobile websites, Vemana used the example of empowering consumers to figure out the right ink cartridge while in the store with Staples’ best in class mobile website. Bill Clifford of SessionM spoke on how integrated sponsorships can sometimes be a better fit than banners for big brands. It was Nexages’ Victor Milligan who hit the point home by predicting a 50% increase in 2013 in the use of rich media and video. There seemed to be a resounding nod from the panelist and audience alike, agreeing that banners are a great fit for many advertisers but empowering them with higher-impact formats for certain high value moments is the future of the industry.
Bottom line: Make sure you know all your creative options and think about situations when richer experiences will boost your ROI.
Many thanks to Mobile Monday Boston and the sponsors for a great event.
If you have questions or comments, find us on Twitter @Jumptap