Is Mobile Phone Technology Peaking?

I was due from an upgrade on my iPhone for quite some time now and decided to get to the local AT&T store to get what I thought would be “killer” new tech.  What a disappointment. 

I upgraded to the iPhone 6 -- yes I know I was a laggard on this one.   Usually, I’m the first guy upgrading to any new tech, but alas I just fell behind on the phone front.    

For all of the hype which is made around new technology and the lines which seem to wrap around the block at the Apple store I found this one to be a total let down.  When you really consider it all in context of a consumer experience, you really only get:

Larger screen size – yea this is a nice to have, but not a game changer.  Puts them equal with Samsung.

New screen saver – it moves.  Wow!  Who gives a damn.

Wallet and Apple Pay – is really the only new functionality I see.  It’s great and a next step in evolution, but isn’t the must have reason to buy a new phone.

Better camera – I was ok with the last one given all of the apps you can purchase to improve the old camera versions.

It seems “Moore’s Law” on the growth of technology might be fading a bit in the mobile hardware and software space.

Scott

My iPhone Could Launch Apollo 11

I stumbled upon an article on the computer which ran the Apollo 11 space mission.   The 1960’s based technology was merely 64Kbyte of memory.  This computer helped get NASA Astronauts over 350,000 kilometers to the Moon and back.  As I pondered this achievement I looked at my iPhone and realized how far our technology has come.  With just the applications I’ve loaded to my phone I can:

1.       Consume Content

·         Play thousands and thousands of songs

·         Play, store and create videos

·         Read and store books

2.       Communicate

·         Video conference

·         Monitor house security system and cameras

·         Communicate via email, facebook, twitter, linkedin, etc.

·         Translate content into different languages

3.       Commerce

·         Form of payment

·         Purchase items from online merchants

·         Book and manage travel

4.       Inform

·         Instant access to news, stock quotes, weather, sports, etc.

·         Track the location of where my kids are

·         Monitor traffic and get driving directions

·         Determine my exact location via GPS

5.       Work

·         Create spreadsheet, word and power point presentations and project them to another screen

·         Print to any wifi printer

·         Analyze calculations, etc.

And the above are just a smattering of all the things we can now do with technology which can be placed in our pocket.  What tomorrow brings will be even more amazing.

Scott

Digital Disconnect

Over the Christmas holiday, my family and I traveled to Charleston, SC to have some low key quality time together.  I noticed something which  I found fascinating - three woman and one teenager were sitting in the airport coloring in a very meticulous coloring book.  

I asked a few of the ladies and the teen the reasons for taking up what I thought to be a child’s activity.  The answer I got was interesting… they said they were “burned out” on technology and this was a way to escape the digital world we live in, if just for a few hours.

This “escape” became clear, when I looked upon those in the airport and 90% of the travelers were staring into a small phone screen.  I use the words “into a small phone screen” on purpose.  They seemed to be so transfixed on the phone for hours, ignoring much of what was going on.  In fact, two individuals missed their flight because they were transfixed on the screen.   They didn’t hear the announcement of the flight, nor did they hear their names being called out for the “last call.”

As a Marketer I now question whether the mobile ads we run are being recognized or are lost in the blank stares of the consumer… I don’t have an answer, but the thought runs across my mind.

I’m now looking to find my “Big Chief” Tablet and that 64 Crayola set I had as a kid.

Scott

Are Our Metrics Focusing on the Right Things?

It seems like every other email newsletter I receive has articles regarding metrics about social, mobile, engagement, likes, content views, GRP’s and the like.  And I’m not disputing the point of each of these are important in their own universe…. And if you can connect them, all the better.

However, let’s go back to the fundamental reason for marketing.

“All marketing investments, across ALL areas/functions/businesses, etc. is to do one thing…SELL”

     

If the above weren’t true, why would the board of directors, management and shareholders agree to marketing budgets?  Marketing is a fundamental investment with both short and long-term financial goals.  Short-term – sell product immediately, drive leads for sales, increase eCommerce traffic…. Long-term – build the brand, create advocates for the brand, drive high value leads, increase price, etc.

Which brings me to my concern…it seems to me we’ve taken our eye off the ball on the metrics which truly matter and support the reason for marketing investments.  So what top-level investment metrics should we regain focus on?  My key ones include:       

1.  Incremental Gross/Net Revenue per total marketing dollars spent

2.  Customer Acquisition Cost

3.   Both #1 and #2 but revenue per marketing employee

4.  Customer Cross Sell Ratio

5.       Recency/Frequency/Monetary Value customer model – check out Don Libey’s extensive research on this model

6.       Customer Satisfaction Levels – get down to specific detail items you’re working on and track them consistently

7.       Customer Lifetime Value

8.       Marketing Investment Payback Time

9.       Customer Attrition Rate

10.   Customer Segmentation Model and Marketing Investment

Certainly, I have additional ones I could list, but keeping things simple--the above 10 help focus your investments, strategy and executions on the things which matter.  In addition, when the boss calls you in the office, you speak management language vs. the marketing babble.

Scott