Mobile marketing is exploding. Those who aren’t ready to embrace this advertising medium could lose out on a multi-billion dollar industry. The driving force to hop onboard is unlimited potential for reaching a massive number of prospective customers.

Since mobile marketing is a new advertising medium, business owners should take time to become educated about the process. Currently, more than 5 billion people subscribe to mobile phone service. Companies who learn how to tap into this niche have the opportunity to turn their brand into a household name.

Business owners also need to learn how to incorporate mobile marketing strategies into their business, as well as how to monitor results. As with any successful campaign, there will be trials and tribulations. Advertisement campaigns will require testing and improvements to ensure they provide adequate return on investment.

A variety of options are available to incorporate this strategy into existing business plans. However, before sending advertisements to handheld devices, it is imperative to research Federal Trade Commission (FTC) guidelines.

Cell phones are an intimate communication tool. Companies need to obtain permission to intrude into customers’ personal lives. Care should be given to the types of advertisements sent, as well as frequency of campaigns. No one wants to burn through their minutes to receive junk mail. This form of marketing requires companies to be discretionary and respectful.

Sending messages to cell phones is an effective way to provide subscribers with time-sensitive advertisements. Some of the more common ads include providing discount codes, private offers, and ‘flash sale’ announcements requiring quick action to receive discounts or sale offers.

Mobile marketing is an affordable way to build brand recognition. Companies can offer mobile apps, games, ringtones, and wallpapers to keep their name in front of consumers. These types of promotional items can also be shared; making them a great lead generation tool.

It is best to establish goals before investing money in marketing campaigns. It’s important to determine if campaigns will focus on building brand awareness or for direct marketing. It is also smart to determine the frequency of messages and whether campaigns will be ongoing or used as a viral marketing tool.

Finally, companies should establish a budget to determine how much can be spent for advertising campaigns and employee salaries. No one is capable of handling all facets of marketing on their own. At minimum, one employee will be needed to implement and monitor campaigns. Those who attempt to manage all aspects of a business on their own rarely achieve their full potential.

Entrepreneurs and small business owners may find it helpful to work with an online marketing company. Agencies can take over the entire project or assist owners throughout the process. This can reduce time required to implement and track advertising campaigns.

Last, but not least, it’s important to consider how customers use their cell phone. Does your demographic market use handheld devices primarily for texting, talking, playing games, surfing the Web, or social media? Determining how potential customers use their phone lets business owners know the most effective way to reach them.

Venturing into this niche requires research, a solid marketing plan, and sufficient number of employees to effectively manage campaigns. This advertising method is virtually untapped, but it won’t stay that way for long. Companies that learn how to harness the power of mobile marketing have the opportunity to dominate their niche.