Mobile Commerce Trends

By Mark Brousseau

Some interesting facts from the pre-conference workshop at the Third Annual Mobile Commerce Summit at the M Resort Casino & Spa in Las Vegas on Wednesday:

… Banks that think they are going to fund their mobile initiatives through advertising had better think again, according to Bob Gilbreath, chief marketing strategist, Bridge Worldwide, an interactive and relationship marketing agency. “Mobile ad interruption will not be tolerated,” Gilbreath said, noting that 72 percent of Americans have registered on the Federal Do Not Call list. What’s more, service providers fear losing $50 per month customers in exchange for pennies per ad unit, he said.

… Smartphone users spend less than 5 minutes online per session, Gilbreath said.

… People who write down how they will use a new product are 50 percent more like to use it, according to a study by Proctor and Gamble.

… Young consumers are spending less time in traditional “online” environments, Gilbreath said.

… The Berg Institute says there were 3.1 million mobile banking households in the United States last year – up from 400,000 households in 2007. The Berg Institute estimates there will be 7 million mobile banking households by the end of 2009.

… 50 percent of all calls to bank customer service centers are from mobile phones, and will rise to 70 percent in 2010, according to Celent. Many calls are simple balance requests, Celent notes.

… As of January, 2009, Bank of America had 1.9 million mobile banking users – up from 1 million users in June, 2008. On peak days, Bank of America has 100,000 mobile banking users.

… Only 40 percent of a retail bank’s customers are profitable, finds the Council on Financial Competition.

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