Last year, global consumer spend in the app stores reached $101 billion, and consumers spent, on average, nearly three hours daily on mobile devices—whether checking emails, ordering dinner, using ride sharing apps, booking a flight, or binge-watching their favorite shows.
The implications of mobile's rapid adoption and its hold on consumer attention for businesses are significant. Mobile has quickly become the platform that will accelerate your growth; but, failing to adapt will leave your company as a relic of the past.
For savvy marketers, product managers, investors, and executives, a comprehensive and data-fueled mobile strategy is no longer a suggested best-practice; rather, it is at the heart of your success with consumers.
As early as 2020, Millennials and Gen Z—the first digitally native populations—are set to account for 40% of consumers. So it's no surprise that there's a need now to accommodate these mobile-savvy generations, especially with 96% of Gen Z owning a smartphone. Even Baby Boomers are learning the importance of mobile, with 67% of them owning a smartphone as of 2018.
The bottom line is that mobile is the primary channel for consumers in virtually every demographic group—allowing them to connect anywhere, at any time, and driving a generational shift that has transformed the consumer landscape.
Mobile—and the additional insights it provides about consumers—should be the cornerstone of every business's go-to-market strategy.
If you take a step deeper into mobile, strategies tend to diverge between app and mobile Web. What many don't realize, however, is that the key to a successful mobile strategy is combining the two.
The Importance of a Harmonious Mobile Strategy