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An October 2011 report by Comscore confirmed that mobile banking and mobile credit card usage is experiencing a huge growth — In fact, mobile banking and credit card usage are seeing highest increases in visitation.

The study revealed that 12.7 million mobile users reported using banking apps, showing a notable increase of 45 percent from Q4 2010.

Nearly 14 percent of the total U.S. mobile audience (32.5 million users) accessed mobile banking services in June 2011, up 21 percent from Q4 2010. Mobile credit card services saw an even greater increase, with 18.4 million mobile users accessing credit card information, up 23 percent from December 2010.

According to Sarah Lenart, ComScore’s VP for Marketing Solutions. “The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services. New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”

Here are some key growth areas within the mobile industry:

1) Mobile apps and games — for app and game development businesses, the growth is a sign of better things to come. Recently, the Android app store reached 500,000 apps. The Apple store has over 600,000 apps. Our prediction on the next phase of growth is within the b2b app space.

2) Mobile and credit card transactions — The rise in mobile credit card  usage and transactions show the increase in the comfort level of consumers with mobile devices. The key is to ensure your website is optimized across mobile devices. If you run a physical store, providing mobile payment options will make it seamless for the customer shopping experience while providing another option for incoming revenue.

Here is a cool video showing the evolution and growth of the mobile phone.

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We came across some staggering numbers on China’s digital landscape for internet, mobile and social media by BBH Asia Pacific Data Snapshot Series 2011.

The amazing part of all this is the continued growth spurt with no end in sight. Here are some of the numbers:

Digital

• There are 457,000,000 internet users in China.
• Every month, China’s web users grows by 10,000,000 users.
• 58% of internet users are under 30 years old.
• 56% of internet users are male.
• 88% access the web from home.
• 98% broadband penetration amongst internet users.
• Average time spent online daily is 150 minutes.
• Users between 18-27 spend 5 hours everyday on email and web.
• 87% use the internet and watch TV at the same time.
• 58% of internet users spend 3 hours daily online vs 17% of internet users spend 3 hours daily watching TV.
• Internet users spend an average of 4 hours streaming music or videos.
• 2010 saw US$60 billion in transactions on Taobao — an auction and shopping site.

Mobile

• There are 879,000,000 mobile subscribers in China.
• 66% of users access the web through their cell phones.
• 2.7 billion was the average number of SMS sent daily on February 2011.
• 70% of Chinese say they can’t live without their mobile phones.
• There are 303,000,000 mobile internet users in China — almost total the population of the U.S.
• 2 out of 3 mobile users use instant messenger apps.
• 40% of web users are content creators — that’s twice the rate compared to the U.S.

Social Media

• There are 235,000,000 social media users — a 33% growth over 2010.
• There are 636,000,000 registered users on QQ — China’s most popular instant messenger service and almost the size of Facebook’s worldwide audience.
• 481,000,000 registered users on Qzone — most people have more than one profile.
• 92% of social media users visit social media sites at least 3 times a week.
• Half of social media users are in their 20s.
• 27% have created profiles on more than 5 social media sites.
• 87% of social media users have “friended” or follow brands.
• 77% believe that social media presence makes a brand more attractive.
• There are 295,000,000 bloggers in China.
• 81% of Chinese youth check online comments before making a purchase decision.
• There 304,000,000 gamers in China — that’s more than twice the population of Russia.
• Estimated total value of virtual goods in 2009 is US$ 5 billion.

From these numbers alone, it is not surprising that Chinese internet companies wanting to expand their horizons are coming into the U.S. aggressively to list on the stock exchanges as most of them are already profitable. There were 41 Chinese IPOs in the U.S. in 2010 alone.

In the opposite direction, U.S companies want to tap into the digital market of China’s insatiable consumers. This year saw IBM, Microsoft, Oracle securing partnerships with Chinese companies to introduce its products.

Take a look at the full report here of China’s digital landscape

Data courtesy of BBH Asia Pacific Data Snapshot Series 2011.

Image courtesy of Baiduplanet.

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According to Mobile research firm Research2Guidance, the Android market has reached 500,000 successful publish apps. In contrast, Apple has nearly 600,000 published apps.

The report mentioned that “Android market developers are most productive. Even though
 Apple 
app 
store 
has
 over
 100,000
 active 
publishers, 
Android developers 
publish
 slightly
 more
 apps
 on
 average.
 While
 both
 stores
added
 a similar 
number
 of
 new
 publishers 
in 
Q3 
2011,
 the
 number 
of 
new
 applications added
 to 
Android 
market
 was 
twice 
as 
high as 
in 
Apple
 app
 store.”

• Android Market developers publish most apps on average (4.38 active apps per active publisher).
• In September 2011 Android Market added a record-breaking 42,000 new apps.
• At
 the 
end
 of 
September,
34%
 of
 active 
apps 
were
 paid,
however,
this
 month 
that 
figure 
is 
only 
26%, 
which 
shows
 that 
developers are 
developing
 more
 free
 content
 than
 before.
• Average
 selling
 price 
in 
Android
 currently
 equals 
$3.18.
• Nearly 
50% 
of 
newly 
added 
content 
falls 
into 
four 
top 
categories:
 Games,
Entertainment,
Personalization 
and 
Music & 
Audio.

While Android developers may be more productive, 37% of its applications in the app store gets removed compared to 24% of Apple’s apps. 78% of the apps removed from the Android market are free.

The main reason for removal of apps from the Android market is largely due to malware. Something which is not as big an issue in Apple’s app store. Android’s open ecosystem is probably the main factor affecting the higher rate malware as more and more apps are developed for trials, tests, demos and malware.

Even though there are more apps in Apple’s app store, Fiksu (mobile app user acquisition platform), claims that Android app users are actually more engaged than their iOS counterparts. According to Fiksu, “Android users are more than twice as likely to open an app ten times or more.”

Download a copy of the full report on Android Market Insights 2011

Graph courtesy of Research2Guidance

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In a 2011 Mobile Marketing Survey research brief conducted by Hipcricket shows further confirmation that mobile is changing the way we shop, browse and interact with brands we like.

According to the report, “consumers, particularly smartphone users are turning to mobile retail websites as a critical instrument to find the products they want, search for coupons and special discounts, and even research prices at a competitor’s store. In general, the mobile web has become an important tool for getting the products and services they want.”

52% of consumers have checked a retailers website when they were in the store itself and 46% of consumers checked out the retailers website to research prices.

There are a few game changers within the mobile industry that is disrupting the status quo and changing the way we can shop.

• Square — Allows sellers to take credit card payments through a mobile phone. Comes with a free app and card reader.
• Intuit Go Payment — Similar service to Square.
• Paypal Mobile — Is expecting $3.5 billion in revenue by end of 2011 from its mobile payment volume.
• Google Wallet — Turns your phone into a wallet and works with credit cards.
• eBay Mobile Commerce — Is expecting $5 billion in revenue by end of 2011 from mobile commerce.

When you look at the overall trend with these game changers, mobile commerce is growing — and growing rapidly. This provides opportunities for marketers and businesses in these key areas:

1) Your website as a transactional medium — The fact that you can receive money via mobile methods provides you with another avenue for revenue generation

2) Marketing and interaction — 80% of consumers in Hipcricket’s survey stated that they have never been marketed to through their mobile devices.

3) Location based marketing — 54% of  consumers is interested in receiving time-sensitive and  location-based offers — A 40% increase compared to 2008 when the question was last asked.

Download the full report here.

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As search engines continue to refine their algorithms to provide the best user experience, relevant information and content becomes a key factor in gaining the most visibility in search results. For small businesses, this development will continue to level the playing field when it comes to Search Engine Results Page (SERP).

Not only can you go compete directly with the big boys on relevant content, your brand is now tied to social-related activity which requires genuine interaction and transparency — an area which a lot of big businesses and corporate brands fail badly at.

Below are some of the latest search related information and updates.

Content for SEO

• 92% of marketers say that content creation is either “very effective” or “somewhat effective” for SEO.
• 50% of marketers cite web pages as “very effective” for SEO.
• 40% of marketers cite white papers as “very effective” for SEO.
• 76% of marketers who have strategic SEO campaigns in place invest in content creation.

The Google Panda Factor — Changes introduced in 2011 to the search algorithm used by Google to improve its search results. The change aims to lower the rank of “low-quality sites” and return high-quality sites to searches.

• “Our site quality algorithms are aimed at helping people find “high quality” sites by reducing the rankings of “low quality” content” – Amit Singhal, Google Fellow
• Content fuels Google organic traffic – frequently updated blog posts and Tweets has steadily increased its organic search traffic through all of Google’s Panda updates.

Social is SEO and Content is Social

• Bing uses Facebook Likes as a ranking signal for logged in users.
• Google says it is using +1 as a ranking signal.
• Tweets help Google index content faster.
• 27 million pieces of online content are shared daily.
• 1 in 5 social media messages include links to content.
• 60% of content-sharing messages specific to an industry mention a brand or product by name.
• 44% positive response from B2B marketers on the impact of social on SEO.
• 1% negative response from B2B marketers on the impact of social on SEO.

The Brand Effect — Branding tells a story and stories rely on content.

• 50% of consumers are more likely to click on a search result if the brand appears multiple times on the results page.
• “Try to make a site that is so fantastic that you become an authority in your niche.” – Matt Cutts, Head of Google’s web spam team on whether Google gives more weight to brands in rankings.

Content Converts Search (and other) Visitors

• 60% of business decision makers say branded content helps them make better product decisions.
• 61% of consumers are more likely to purchase goods from businesses that offer custom content.
• 52% of consumers say blogs have impacted purchase decisions.
• 57% of marketers have acquired new customers via their blogs.
• 42% of consumers look to articles and blogs for info about potential purchases.
• 19% of beauty buyers who made purchases based on blog posts say they stumbled upon the content via search.

Marketers’ Forecast for SEO — Predicted value of search factors.

• Marketers are investing $12.5 billion in online content.

Here is the infographic to give you a pictorial guide of the facts and data presented above.

Infographic courtesy of Brafton

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Recently we wrote about Failcon, a conference dedicated to entrepreneurs by entrepreneurs who have gone on the entrepreneurial journey and have failed. Yesterday, I attended Failcon in San Francisco and here’s what I learned.

Some of the entrepreneurs who presented have had epic fails over and over and some just mediocre failures in their journey. One thing for sure, all the entrepreneurs who presented have failed before, some more than others — in fact, I doubt they would have been asked on stage if they have never failed previously.

However, there was one recurring theme from these entrepreneurs and their journeys — they got up and tried. Over and over again.

The reason they were selected to present was to share their experiences in what they did, how they did it and how they eventually beat the odds and succeeded. It’s not in every society that you will find people willing to stare their failure/s in the face, eat a giant piece of humble pie and and then share it with the world.  I was fascinated and inspired.

According to Vinod Khosla of Khosla Ventures, he said “lots of small failures equals lots of learning” and “the single biggest way to encourage an entrepreneurial environment is to set up role models” he added. When choosing a VC, the entrepreneur should look for flexibility with an experimental approach to things. To further test the commitment of a VC, he told entrepreneurs to talk to others who have worked with that VC when the plan failed. This should give you a pretty good idea on how they operate.

Khosla also said that “most business plans are irrelevant and and most experts are full of shit.”

Adil Wali from Kemists said that “VCs are in the student loan business. They are paying entrepreneurs to learn and make mistakes.”

In a commencement speech by JK Rowling (of the Harry Potter series) to Harvard in 2008 she said, “Failure gave me an inner security that I had never attained by passing examinations,” she said. “Failure taught me things about myself that I could have learned no other way.”

Hearing from entrepreneurs who have had epic fails (one was sued by his own investors for $250 billion) — but have since gone to create wildly successful companies like airbnb.com, zynga.com and uber.com  is inspiring.

Here are some key points:

• Failing creates a natural learning environment for the entrepreneur and VC — it also shows you who your real friends and business partners are at the depths of your failure.
• Sharing your failed experiences fosters a support-based ecosystem — at least the entrepreneurs know they not the only crazy ones out there.
• Collaborating with other passionate people creates a sharing-based community — when passion meets experience and knowledge, the combination can be lethally good.

According to Dan Martell, co-founder of Flowtown (recently acquired by Demandforce) in his blog he wrote, “In San Francisco, being an Entrepreneur puts you at the top of the food chain and failing is worn like a badge of honor, so most people can’t wait to jump into a pool full of startup Kool-Aid. Even the non-swimmers.”

Failcon is an excellent event where failures are celebrated so we can all talk about it and move on to the next big thing. At least we will now know what not to do in our next move (hopefully!)

See highlights from Failcon here

Image courtesy of karmickappuccino

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When investing, the most common term we hear is “diversify your portfolio” — the same can be said about businesses for entrepreneurs. Spread your business far and wide across markets for sustainability and growth.

Having worked with over 4,000 entrepreneurs over the last four years, we have been able to identify certain traits and characteristics that seem to survive the roller coaster ride of entrepreneurship.

• Working for passion, not for money — Most entrepreneurs we meet who are starting up are dead broke but they are happy and extremely passionate.
• Going against the grain — They are not afraid about being different and going against conventional wisdom. In fact, they think that not working for yourself and doing what you believe in is crazier that what they are attempting to do.
• Inherently curious and hungry – They love to share information, discuss ideas and find ways to collaborate.
• Hyperactive — They usually have their hands in many pots and are constantly juggling things/tasks/ideas/projects.

So, with the American economic slowdown, how will your business survive the constant looming threat of a complete meltdown and global competition?

With technology working as a conduit to bridge geographical and time barriers, have you considered other markets to tap into and generate revenue globally?

If you already have the WHAT (an existing business and want to tap into global markets), we have the HOW (to show you how to get your foot through the door.)

Generating Revenue Globally – Tapping Into Markets Abroad

In partnership with Deloitte and California-Spain Chamber of Commerce, K&L Gates cordially invites you to join us for this complimentary and valuable program on Tuesday, November 1st.

For your convenience, the program will be hosted simultaneously via videoconference at the Computer History Museum in Mountain View, and at K&L Gates’ San Francisco Office, with live panelists in each location.

Program Details

Markets outside of the U.S. present an excellent opportunity to generate revenue – whether from investment, alliances or other cross-border transactions.

K&L Gates and Deloitte bring together experts from four important regions – Asia, Europe, Latin America and the Middle East – to share success stories and strategies making the most of the unique business and regulatory environments in markets beyond our borders.

With 4 panels of speakers focused on their regions, you will walk away with practical insights into the hottest revenue-generating opportunities of 2012.

Agenda

10:00 – Registration

10:30 – Opportunities in Europe

12:00 – Lunch with casual Q&A

1:00 – Generating Revenue in Latin America

2:30 – Tapping into Asia

4:00 – Opportunities in the Middle East

5:30 – Casual Q&A and wine reception

Please click here for more information on this complimentary event.