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The role of mobile data in business strategy

Nandita Pal, General Manager SEA & Hong Kong, Near | Feb. 5, 2016
Nandita Pal, General Manager SEA & Hong Kong, Near, discusses how critical mobile data is for brands in directing their business strategies.

This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.

As home to one of the most digitally-savvy populations, mobiles are currently touted as the number one medium in Singapore. According to a study by the Infocomm Development Authority of Singapore (IDA), Singapore has the highest smartphone penetration globally at 85 percent.

Additionally, a Connected Life Study - released last year - revealed that the average individual spends 3.4 hours each day on their mobile devices. This equates to a total of 24 hours a week, or 52 days a year - which is twice as much time spent on watching television, and 7 hours more than what was spent on desktops. As such, it is critical for brands to direct their attention towards their mobile efforts.

Our mobile devices today are like miniature, handheld computers that harbour powerful functionality and extensive connectivity capability, with many similar characteristics to modern day PCs. That being said, just as desktops do, mobiles also generate vast amounts of useful data about our interests, habits, interactions and intents. In terms of business strategy, mobile data is a fountain of consumer insight and should be deeply analysed by brands in order to beat the competition, improve service and therefore, inevitably increase a company's bottom line. 

Brands can use mobile data to gain unique business insight into potential and existing customers. This insight can be used to power strategy, marketing and operational decisions. These could vary from choosing a new store location to measuring results of marketing spends. By connecting all of the brand's activity surrounding consumers with movement and location data, they are then able to go far beyond the sub-standard pushing of promotions as consumers pass by retail windows.

Mobile data can also improve marketing efforts by providing powerful consumer insights that ultimately enables businesses to drive engagement, increase in-store traffic and target consumers in real-time all when it matters most - before or as decisions are being made.

Leveraging mobile insights to stay relevant

To highlight its importance, Near has sifted through relevant mobile data in October 2015, analysing its findings with five prominent shopping destinations in Singapore: Westgate Jurong, Marina Bay, Ion Orchard, Bugis Junction and Raffles City.

It looked at areas such as mobile share in Singapore, popular mobile device models, shoppers' preferred day to shop, as well as peak periods of shopping.

These particular insights, and those like it, can help brands in Singapore tailor their business decisions in order to stay relevant to their consumers. Location data can help brands to transform current marketing plans into actionable strategies that can help to influence customer walk-ins at scale.

 

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