Let's say you're out of something, or you need something, or you want something. And, seemingly out of the blue, an ad pops up on your phone to say that very thing is now available at the next store on your right. Did the store read your mind? No, it drew on the data you'd already tapped into your phone. In Tap, Anindya Ghose welcomes us to the mobile marketing revolution of smartphones, smarter companies, value-seeking consumers, and personalized, curated offers. Ghose investigates what consumers do with their smartphones and how businesses can use knowledge of this to improve their products and services.
Consumers create a data trail by tapping their phones; businesses can tap into this information to predict consumer preferences and create personalized marketing. This two-way street, Ghose says, creates a feeling of intimacy and connection and benefits both customers and businesses. Research shows that people are willing to exchange their information for relevant value, although companies need to strike a balance; the smartphone should play the role of a personal concierge, not a stalker. Ghose explains the best way to harness the power of mobile data and deliver value to consumers. He identifies nine forces that drive purchasing decisions, from saliency to weather, and he examines these forces separately and in combination, based on real-world consumer responses. Done right, mobile marketing results in higher redemption probability, faster redemption behavior, higher transaction value, and higher customer satisfaction.
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