Understanding the Full Value of Mobile: IRCE 2013 Google Summit Recap
As IRCE 2013 began to wind down, the conversations were still going strong at Google Chicago during the annual summit hosted between Google and Elite SEM. The crux of these conversations centered on one main theme: true value. With the key question being, what is the full value of Mobile?
By now, most everyone in the digital space has realized the pressing need for mobile optimization and strategy. If not, this is a boat you need to catch – quickly.
With mobile traffic now accounting for a lion’s share of visits for many retailers, the necessity for deeper transparency into investment vs. return is growing – especially when weighing the higher cost of Responsive Design, Google’s recommendation as the smartest way to optimize mobile. This need for deeper transparency into investments brings us back to the original question: What is the true value of Mobile? More so, how do you determine all aspects of this value?
While most retailers have already tied back mobile investment to direct mCommerce sales, this does not always represent the complete picture of mobile value. Mobile has grown to be an essential touch point in a growing multi-channel environment, with 90% of smartphone shoppers using their phone for pre-shopping activities and 8 in 10 shoppers using their smartphone to aid in the in-store shopping experience (Source: Google Shopper Marketing Agency Council & M/A/R/C Research, “How Mobile Is Transforming the Shopping Experience in Stores,” April 2013).
With mobile becoming a seamless part of cross channel experiences, the value of mobile in a brands complete sales funnel may be far greater than determined through straight ROI on mCommerce. Google, in an effort to better quantify the additional value of mobile, has released a new tool to set a number to mobiles role in Calls, Brick and Mortar, Apps, and Cross Device. This tool has been cleverly dubbed: The Full Value of Mobile Calculator.
Using this logic in a recent case study performed with Adidas, the ‘full value’ of mobile added an incremental 680% ROI – turning an expensive decision into a smart one.