In Love with Mobile: Our Favorite Monetization Tips for Valentine’s Day

By Amy Vale

New reports coming from comScore, and BIIntelligence indicate that mobile retail purchases are taking off. eMarketer estimates USretail mcommerce sales shot up 81 percent to nearly $25 billion last year. This year, an even bigger increase of 55.7% is expected, and mobile sales will account for 15 percent of all retail ecommerce. Plus, the IMRG& Capgemini e-retail index estimated Britons spent £5.4 billion online in February 2012.  The index also estimated by the end 2013, mcommerce would account for 20 percent of all online transactions. Second only to Christmas for holiday sales, there’s no doubt Valentine’s Day will play a huge role in the growth of mobile commerce this year. Here are two tips to help publishers and app developers get their monetization strategies on track for Valentine’s Day.

Target in a smart way

Know your target audience. This goes far beyond just identifying their demographics. What devices are they using? Is your primary customer base loyal to iOS, Android, or RIM? What types of things matter to your audience (i.e. discounts/deals, videos, etc.)? Only then can you layer on the right types of targeting parameters to reach your audience in the right place, at the right time, and with the most relevant and engaging type of mobile ad. One app that’s using targeting in a smart way is Find Chocolate. The free iPhone app lets users pinpoint the nearest chocolate shops and then gives them maps and directions to get there. Who doesn’t love chocolate on Valentine’s Day? But don’t just think the work stops there. Look at the metrics, whether it’s your app or a mobile-optimized site, to see what’s working, what’s not, and where improvements can be made. Then, tailor your targeting to deliver stronger ROI and sales. The more focused and smart you are with your targeting parameters, the more likely you’ll be to monetize effectively.

Keep the UX and UI Simple

When it comes to mobile commerce, an easy-to-use user experience and interface can go a long way in driving sales. Easy site navigation helps get customers from product research to actually clicking “buy”. Though a report from Forrester shows mcommerce is growing, the research outfit actually blames slower mobile commerce growth on mobile sites and apps that make it hard for consumers to check out. As a retailer, you can increase your own mobile sales by making it easy for app users to find what they are looking for and to complete their purchases. As a result, you reduce the likelihood that they’ll get bored or dump what’s in the mobile “cart” because it took too many steps to get there.