Finance and FMCG create the best mobile experiences, say C-Suite decision makers

Magnum AR augmented reality FacebookThe majority of senior decision makers at brands are investing more in mobile technologies this year, but many are facing several barriers which stop them from unlocking the full value of mobile, according to research from experience marketing agency George P. Johnson.

A survey of C-Suite decision makers at brands with more than 500 employees found that though 92 per cent of executives are investing more in mobile technologies, just three per cent felt there were no main barriers to innovating using mobile technology.

The main barriers cited were integrating platforms into current architecture (26 per cent), confidence in new tech working (24 per cent), and speed to ROI (21 per cent).

In the research, brands pointed to mobile-first businesses, such as Uber and Monzo, as driving increased consumer expectations of brands. Interestingly, though 67 per cent of companies with over 5,000 employees describe themselves as ‘innovators’, the same group is also most likely to be increasing mobile budget to meet the consumer demands set by other mobile-first businesses.

“Mobile is a habit creator. It has already changed consumer expectations. However, while many of our survey respondents see themselves as innovators, you have to ask why we’re seeing such a big gap between mobile-first businesses and the big brands. The rise of mobile-first approaches should be a lesson for all brands in how to successfully use the technology to create solutions and shape brand experiences at every touchpoint,” said Nick Riggall, VP of digital strategy at George P. Johnson.

“Lack of confidence in the tech is an important finding, suggesting it’s being deployed before it’s ready or measurable. For us better targeting, customer service and engagement are the key areas that brands should be focusing on.

“The findings, coupled with wider industry context around the way that mobile is impacting consumer expectations, are very meaningful for brands who put exceptional experience at the front and centre of their marketing strategy.”

Looking at where the spend is going, 62 per cent say the increased budget will go toward augmented reality, while 55 per cent have allocated more spend to chatbots and messaging.

The industries where brands believe technology is being more effectively implemented in mobile marketing are finance & banking (46 per cent), FMCG (45 per cent), consumer electronics (42 per cent), and media & telecoms (42 per cent). On the other hand, only 37 per cent of respondents named retail as being a sector which makes effective use of mobile in marketing, despite identifying it as the third largest sector opportunity.