A calculator that helps brands and agencies work out the value of mobile to their work is being launched in Australia by Google today.
The Full Value of Mobile (FVOM) calculator helps users work out simple equations to estimate the value that mobile is driving for their business through calls, apps, in-store, on their mobile site and across devices.
The calculator works by using data from Google’s AdWords and from businesses’ mobile websites.
Jason Pellegrino, director and head of mobile ads at Google Australia, told B&T: “Working out the value of mobile is something that’s challenging everyone across the industry, whether it’s media or creative or brands or business owners.
“What we are dealing with is consumer-led disruption. People are not challenged by their competitors or industry dynamics – they are challenged because consumers are using technology at a faster rate. That is disrupting the way that they engage with brands all the way along the purchase journey.”
FVOM is designed to help brands and agencies work out the value of mobile in today’s multi-screen world.
“There has been a lot of discussion about mobile, but we’re well beyond that now – even consumers have moved beyond that,” said Pellegrino. “We’re not mobile users anymore, we’re multi-screen users. We’re doing it simultaneously and sequentially, skipping from device to device.”
Pellegrino said Google has launched FVOM to enable marketers and agencies to see the value of different consumer interactions.
“It’s a tool that can help agencies and brand owners understand the value of the different interactions across different devices,” he added. “This is the first step of allowing brand owners and agencies to really start digging into the purchase paths of their individual consumers and understanding what the value of different micro conversions along those paths are.
“We are at ground zero when it comes to measurement for multi-screen, so this tool helps brand owners and agencies think through how they should be optimising their investment in the multi-screen world.”