The mobile economy, projected to reach $1 trillion in the U.S. by 2020, is being almost ignored by retailers and advertisers are only directing about 12% of ad revenues to mobile devices. Also sorely neglected is the the vast stream of data created by every tap on every phone. Companies don’t know how to reach people on their mobile devices, and they don’t know what they would say if they could. Fortunately, Anindya Ghose, the foremost expert on mobile economics, has designed the tools that can help your company thrive as business-to-consumer interactions increasingly shift to mobile platforms.
Credit card fraud cost the U.S. retail industry $32 billion in 2014. One of the easiest ways for a scam artist to gain access to credit card information is a “skimmer,” a small device illegally installed on an ATM. Now several banks are going for a technical fix: cardless ATMs. Anindya Ghose, the foremost authority on mobile economics and author of the groundbreaking “Tap: Unlocking the Mobile Economy” (MIT Press, April 2017), details the ways these new mobile-phone-based systems will make retail banking more secure.
The mobile economy is projected to hit $1 trillion dollars by the year 2020. But while we spend 25 percent of our time using mobile devices, advertisers commit only 12 percent of ad dollars to them. While mobile drives only 2 to 3 percent of direct conversions, it is a factor in 40 percent of final sales. Why such slow adoption by brands? Anindya Ghose, NYU Professor and leading thinker on the mobile economy, describes “context” and “balance” as the possible keys.