If Verizon’s reported net income for the second quarter of 2008 is any indication, it looks like mobile services and products can withstand even the most volatile of economic turbulence.
Up nearly 10% from nearly a year ago, Verizon is attributing its growth largely to mobile and data services. In addition to a net gain of nearly 1.5 million customers, mobile revenue was up 11.8 percent and mobile data revenue up 45.3 percent, Verizon revealed this morning.
Since the new iPhone was released after the end of the second quarter, this growth in the mobile sector can be interpreted to the expanding number of mobile users that consider their mobile devices and services of “critical importance” to their daily existence.
What does this mean for the mobile marketers? First, with the ballooning number of mobile users subscribing to more elaborate data plans, every inch of progress for enormous service providers like Verizon results in equally gigantic strides for the mobile marketer, whose audience is growing day by day.
The slumping financial sector and weakening economy still dictate that consumers have fewer dollars to spend and are highly selective of where they distribute their limited financial resources. At this juncture, all signs indicate that the mobile industry is not going to be as adversely affected by the economic turndown as other industries.
This is great news for mobile marketers everywhere!