Google Introduces “Full Value of Mobile” Calculator for Businesses

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Google, seeking to lead businesses into the mobile era, has launched its “Full Value of Mobile” calculator as part of its “How to Go Mo” website. The calculator measures the influence of your business’s mobile presence with five different “Paths to Purchase.” Those with AdWords accounts can import data directly, but there’s also an option to manually enter information.

There are five paths within the calculator. The first path covers driving customers to the store. Here, Google measures clicks for directions to your business from mobile devices and compares that to the amount of store visits and sales. The second path involves driving sales with calls. Google measures how many people clicked the “call” button on their mobile devices and compares it to successful sales and calls.

The third path drives value with apps. How many people download and install your app, and what’s the estimated “lifetime value” on each download? The fourth path involves using multiple devices to make purchases. How many mobile visitors visit your desktop site and how often? How often does it result in purchases on the desktop site? The final path entails driving value with mobile sites. Here, Google measures how many sales come from mobile visitors. The numbers provide an estimate of each individual path’s value, as well as a sum total.

The Full Value of Mobile calculator was released in the wake of a study Google conducted with Nielsen, which found that “3 of 4 mobile searches trigger follow-up actions, whether it be further research, a store visit, a phone call, a purchase or word-of-mouth sharing. . . . On average, each mobile search triggers nearly 2 follow-up actions.” Additionally, a comScore study found that mobile sales make up approximatelely 11 percent of e-commerce spending. Clearly, a mobile presence is very helpful for businesses. What’s less clear is how to best harness that presence and accompanying data.

This calculator will definitely change with more use and data, but it will easily become a part of every marketer’s arsenal as mobile use increases. It’s worth noting that Google launched the calculator the same day as Yelp’s own revenue estimator for businesses listed with the review site, which means yet more tools and strategies for marketers.

The calculator is available here, and Google also released a video highlighting each path.

Photo Source: Flickr

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