WE ALREADY KNOW THAT THE MOBILE DEVICE (A.K.A. YOUR SMARTPHONE) IS USED MORE THAN EVER BEFORE. WHAT WE TEND TO OVERLOOK, HOWEVER, IS THAT IT’S USED WITH MUCH MORE INTENT THAN MOST THINK.
In moments of need…
People turn to their phones and search for information.
When a question or need arises, our phones are our most trusted resource. 96% of people using a smartphone to get things done when they have it by their side, based on research done by Google.Sohn Investment Conference 2021 Coverage: Octahedron Capital, Glenernie Capital
The following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More
Think back to how you got information before smartphones existed. Prior to a road trip, you’d read printed instructions or make notes on a paper map. Prior to planning for a movie night, you’d look up the start times in the newspaper. To visit a store, you’d flip through the Yellow Pages to call and check its hours.
And now? You turn to the nearest device—your smartphone.
IT’S NOT JUST IN THE B2C WORLD…
For many business executives (that includes allocators!), their mobile device is the first item they touch upon waking up; to switch off their alarm, browse notifications from email, text message, social media, etc.
It’s also used over breakfast, during the commute to work, and the walk to lunch.
According to a June 2016 survey of B2B buyers worldwide by Salesforce:
o 76% of Gen X and 60% of Baby Boomers also said mobile was necessary to their work. These percentages will surely continue to grow in coming years, as Millennials and younger workers enter the workforce.
o Immediacy: “…when a B2B customer [in the office] pulls out a mobile device, he/she wants to do something for work within the immediate context.”
LinkedIn – arguably the most productive B2B networking tool – has seen an incredible shift towards mobile over the past few years too.
Today, mobile accessibility has impacted business executives, allocators, and prospective investors on how to make decisions.
HOW TO INCREASE YOUR EDGE
1. LAYER YOUR INFORMATION
A mobile-centric world doesn’t mean that you have to cut any information out. It’s not about less information. It’s about the layering of information. Telling people what’s truly different about you and establishing several touch points, so as not to overload them with information at any one point.
2. CAPTURE OPPORTUNITY IN THE MOBILE ADVERTISING SPACE
Mobile accounts for a substantial proportion of total ‘screen time’ of executives and allocators, while they’re in the office, and also during time outside of work.
Spend on mobile advertising has been increasing at a blistering pace year-over-year (129% in the USA last year). Perhaps a signal for managers to get on board as well?
3. ENSURE MOBILE VISIBILITY AND ACCESSIBILITY
What do people see when they search for you on Google? The minimum people expect now is to be able to access your website, find directions to your office, and a contact number should they need to reach you.
Go a step further.
Messaging: Over the past few months, Google rolled out a few updates, including the ability for prospects to message a business directly.
Content: If you’re like many managers who are already sharing content, spend an extra minute each time you do so to add it as a post that people see when they’re searching for you.
By Alan Chu