Mondelez International will inject 10% of its global marketing budget into mobile initiatives including one that pulls insight and innovative ideas from start-up companies and entrepreneurs.
The US confectionery and biscuit firm's new mobile initiative Mobile Futures that aims to connect with consumers that spend time on mobile phones.
“American consumers spend more than 23% of their daily media consumption on a mobile device. Yet most marketers dedicate less than 1% of their media spend to mobile,” Bonin Bough, vice president of global media and consumer engagement at Mondelez International said.
“This is a huge gap, and it’s driving us at Mondelez International to think differently about consumer engagement and path to purchase,” he added.
Mondelez will take inspiration from start-up firms, collaborating with “some of the brightest and most innovative minds in the mobile space – start-up entrepreneurs”, it said.
Brands including Oreo, Trident, Ritz and iDGum, will work with these start-ups to activate pilot marketing ventures to market using existing technologies from the start-ups. Then both parties will work together to create new mobile ventures that will later be pitched to angel investors and venture capitalists in the hope of securing seed funding.
“Start-ups are the innovative lifeblood for the digital world and we are committed to supporting them,” Bough said.
At the same time, the program should drive innovation within our own organization too, with new ideas set to shape the future of mobile, he added.
“Every brand is searching for the right way to use mobile to enhance consumer engagement. This initiative harnesses true experts to accelerate our growth in this space,” Cindy Chen, director of marketing for Oreo at Mondelez International said.
Calls for more start-up involvement
Mondelez has already lined up start-up businesses to work with on the project but has opened up applications to any other companies “operating in the most exciting areas of mobile – social TV, mobile at retail and SoLoMo (social/location/mobile)”.