The evolution of social and mobile technologies has created a seismic shift in the amount of time people spend online and in the way they interact with brands and businesses. Businesses of all sizes and across all industries are devoting more resources into competing in the online world in hopes of reaching a wider audience. For instance, with the increasing prevalence of web surfing on mobile devices such as smartphones and tablets, businesses are optimizing their sites or creating mobile-friendly versions in order to enhance the user experience.
The proliferation of mobile devices has also shifted the buying patterns, decision-making processes and purchasing behavior of many consumers, who are increasingly tapping into smartphones to comparison shop, research products and services, and complete purchases on the spot.
Mobile commerce, or m-commerce, is projected to surpass $30 billion by 2016, according to a report by Forrester. In 2011, approximately 50% of smartphone owners used their device to price or research goods while in a store over the Christmas shopping season, Pew Internet reported.
Not only are people online more as a result of mobile technology, they also are spending a significant portion of their increased online time on social networks. This represents a huge marketing opportunity for businesses to interact directly with their customer base.
Businesses are using social media in a variety of ways, ranging from merely maintaining a presence on Facebook to fully integrating social media into their service, sales or business development operations. However, as social media continues to grow and assume more of a role in how businesses acquire and keep customers, just being present on social sites will no longer be adequate.
In the same sense, business owners and marketers who believe that it’s enough to simply add social sharing buttons to content will be in for a rude awakening. Today, businesses must understand why consumers share content and what types of content they are most likely to share, and use this knowledge to craft and adjust their social media strategy.
Fortunately, the increasing sophistication of digital analytics tools allows companies to monitor social media conversations and trends more effectively. This, in turn, helps businesses stay on top of social campaigns, and mine social conversations for actionable information and insights.
Additionally, once this information is identified, businesses can create content and pursue social channels that connect with their target audience, while steering the social conversation toward their products and services. Ultimately, social media campaigns tailored for a specific target audience will have the greatest likelihood of converting to leads and sales.
Businesses that are primed to adapt to and invest in the opportunities presented by an increasingly mobile and social society will stand the best chance of successfully evolving and thriving in the new economy. In some cases, these brands will be in a position to set trends, giving them a huge advantage over those businesses that observe from the sidelines.
