Create a New Channel: Does Wireless Deserve Another 15 Minutes?
Steps to determine if wireless (or any other new channel) belongs in your multichannel strategy.
Steps to determine if wireless (or any other new channel) belongs in your multichannel strategy.
In 2000, any business proposal with “wireless” or “mobile” in it got venture capital funding. By late 2001, every business plan with the words “wireless” or “mobile” was avoided. Other words have come and gone as well. Are those once-hip terms back again? If so, what have we learned from their first 15 minutes of fame that will help plan a mobile strategy that works this time around?
How can your company make money from mobile computing? Well, not every company can. And not every company should try. Mobile devices are like any other channel. They should be entered into with the same thought and understanding you employ before opening any other new channel (a store, Web site, catalog, or call center).
When we work with clients to create new channels and craft a multichannel strategy, we use a long checklist to help determine that channel’s viability. The checklist is used to assess the merits of any channel, not just wireless. Today, we’ll talk in the context of a wireless channel.
Here’s part of that checklist:
Americans thought the mobile computing and wireless Internet access breakthrough would come when everyone could buy a book or CD while driving home in her car. Many major e-commerce players (such as Amazon and barnesandnoble.com) came out with “mobile” versions of their sites. Within a year, all these wireless divisions either closed shop or severely limited future development. Why? No one needs to buy a CD from his car while driving home. Lessons from abroad should have taught us much earlier about the power of text messaging and information services via mobile devices.
A great example of differentiated service is airlines enabling travelers to select a seat online. This isn’t easily mirrored in any other channel. With the proliferation of world phones, I wish my bank had a mobile feature so I could convert currency with an online calculator (with up-to-the-minute exchange rates), check balances, and transfer funds between accounts while I’m traveling.
Another 15 Minutes for Wireless?
We’ve only scratched the surface of questions that need answers before creating a new channel, but you should start to understand if a wireless channel is right for you. The crop of new mobile phones promise lots of enhanced ways to communicate, including built-in cameras, better text messaging (huge everywhere else in the world), and lots of personalization. Many countries use the mobile channel for marketing purposes. Your task is to ascertain if your company’s core products and services are interesting to mobile users and if those users are your customers.
For some, the answer will be a resounding “yes.” Don’t despair, however! Wireless is merely one more channel, in much the same way we’ve come to regard online as just another channel.
There are many other channels to consider if you’re creating a multichannel strategy. The questions above should help you determine which are right for your company, products/services, and high-value customers. Equally important, they also help you determine which channels aren’t for you.
Is your company right for a mobile channel? Do you agree with my (partial) new channel checklist? Let me know!
Until next time…
Jack
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