The Impulse Economy by Gary Schwartz - Book review

The Impulse Economy

Understanding Mobile Shoppers and What Makes Them Buy

By; Gary Schwartz

Published: November 1, 2011
Format: Hardcover, 240 pages
ISBN-10: 1451671865
ISBN-13: 978-1451671865
Publisher: Atria Books

"In the 2010s, the mobile phone has become a digital hub where everything seems to converge: publishing, ticketing, media, wallets, banking, and shopping", writes technology entrepreneurs and founder of Impact Mobile, Gary Schwartz, in his pioneering and visionary book The Impulse Economy: Understanding Mobile Shoppers and What Makes Them Buy. The author describes both the history of the mobile communications industry, and offers ideas for businesses to develop their mobile platforms to vastly increase online sales and revenue.

Gary Schwartz recognizes the importance of connecting with customers and for building relationships. One of the key tools for creating those critical connections and developing those important relationships is through the immediacy of mobile technology platforms. For businesses, these new and ongoing relationships are crucial to finding and retaining loyal customers in the instantaneous mobile world. At the same time, the empowerment and opt in format of mobile applications and the use of mobile devices, has radically altered the behavior of customers. For businesses that fail to understand, and fail to integrate these new customer behaviors into their mobile marketing plan, their products and brands will become obsolete almost instantly.

Gary Schwartz (photo left) understands that mobile shopping is impulsive and instantaneous. As a result, a business must approach the customer with this rapid decision making process in mind. Mobile applications must be simple, streamlined, to the point, and requiring only one click to instant gratification for the customer. For many marketers and branders, this mode of thinking in terms of immediacy is counter-intuitive, and is not a continuation or extension of business as usual.

With the storefront moving rapidly to the mobile platforms, the entire concept of marketing and branding is being transformed every second of the day. For brands prepared to embrace the mobile marketing revolution and its impulse economy, the potential opportunities for maximizing sales is almost unlimited. For companies who fail to devote the necessary time and resources to the mobile economy, the future is very cloudy and dismal as they face complete irrelevance.

For me, the power of the book is how Gary Schwartz combines some intriguing background to how mobile shopping evolved, with a strong theoretical framework of the present and future of mobile shopping platforms and the impulse economy. The author also provides practical and ready to apply strategies and techniques for establishing connections and building relationships with the new mobile customer.

Gary Schwartz describes the differences between mobile customers and their behavior, from those who shop as tethered customers on computers or at bricks and mortar businesses. The author demonstrates how the mobile impulse economy really works, and shares a full scale road map to navigate the mobile world to connect with the mobile customer the right way.

I highly recommend the essential and insightful book The Impulse Economy: Understanding Mobile Shoppers and What Makes Them Buy by Gary Schwartz, to anyone seeking a straight talking and idea filled book that not only explains how the mobile consumer makes decisions, but why they make the impulse economy building decisions they do make in the mobile world. This book will change the way businesses think about the mobile impulse economy, and provide them with the tools and techniques necessary to connect with mobile customers in this rapidly evolving global marketplace.

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