Mobile Marketing -- Targeted, Timely, and Two-way: The Time is Right for Financial Marketing Strategies to Engage the Mobile Consumer

58 Million US adults received at least one mobile marketing message on their mobile phones in the last year. Mobile marketing provides an opportunity for financial institutions (FIs) to interactively reach on-the-move consumers closer to the purchase decision in a one-to-one communication. Mobile doesn' t change the purpose or goals of marketing campaigns; it adds a new, often more effective, channel to reach consumers. However, FIs which overstep the boundaries of privacy or inundate consumers with unhelpful messages risk incurring their wrath. Additionally, little is known about the preferences of consumers for receiving such messages. This study provides a solid framework for FIs to integrate mobile into effective marketing campaigns. Strong consumer and industry data back the conclusions of the report and demonstrate why this is the right time to consider including mobile in marketing strategy.

• What are customers willing to accept from mobile marketing efforts?
• What are the key marketing strategies of mobile marketing and which consumer segments are the most profitable targets?
• How does mobile marketing work?
• What aspects of mobile marketing appeal to each segment?
• What are examples of mobile marketing offerings that are available in the market place?

• FIs: Online banking/eCommerce, mobile banking, marketing, channel strategy specialists, customer alerts departments, credit card networks;
• Vendors: SMS Service providers; mobile banking platform providers, mobile payment vendors, mobile network operators, mobile advertisers, mobile aggregators, new entrants

• 52 pages
• 22 charts/graphs

This report is mainly based on data collected online from a random-sample panel of 2,714 respondents in March 2008. The survey targeted respondents based on representative proportions of gender, age and income as compared to the overall US online population. Overall margin of sampling error is ±1.86 percentage points at the 95% confidence level.

Executive interviews with leading industry players in the field of mobile marketing and advertising, marketing payments, and mobile banking, as well as interviews with financial institutions executives were completed.