A compelling survey commissioned by AT & T claims small and medium sized businesses in the US have saved $67.5 billion a year by adopting mobile marketing tactics like SMS messaging and mobile coupons. Smartphone targeting has almost achieved full market penetration, with 94% of small businesses using them, up from 85% last year. Smartphones are saving companies 1.24 billion hours and $32.3 billion annually, according to the report.
Other mobile devices are having a similar impact on commerce. Tablets purportedly save $19.6 billion, and a staggering 754.2 million hours annually. Mobile apps have given back close to 600 man hours to small businesses, and saved them $15.6 billion per year.
Clearly, these figures spell fantastic news for budget-conscious startups. Entrepreneurs can now pump that surplus time and cash back into their business to increase productivity and improve customer engagement. Cost-cutting measures are welcomed by any business, of whatever size – but it’s the time saving possibilities that are relished most by survey respondents: 9 out of 10 small businesses who use mobile applications said the principal benefit was reducing man hours, and most of those estimate annual savings of up to $6000.
Cathy Martine, AT & T’s president of enterprise business solutions said in an accompanying statement:
"In the current economy, mobile technologies are critical to enabling small businesses to save tremendous amounts of time and money by helping them do more with less. As a result, we're seeing more and more small business owners and employees turning to mobile technologies to not only keep them connected but to put them ahead of the curve."
As a mobile marketing strategy, well-designed apps put brand recognition and awareness firmly in the hands of business owners, allowing them to offer a proprietary tool capable of boosting ROIs without absorbing the long-term costs usually associated with traditional marketing campaigns. The use of mobile apps has increased by 65% in the last two years alone. Some 77% are using multiple apps, and a significant 5% uses 20 or more apps, with GPS and mapping programs comprising the lion’s share.
One of the most striking benefits of mobile apps is the ‘open all hours’ appeal. According to the survey, the average number of days on which business is conducted via smartphone exceeds the average number of days the company is open for business. While small and medium sized businesses are open for an average of 5.7 days per week, close to half of all respondents with smartphones are making deals seven days a week.
The lessons are clear: if you are a small business and you still don’t have a mobile marketing strategy, now is the time to join the party. The results are proven to be fast and affordable, so get with mobile marketing now, and you will feel the benefit before the year is out.