Flytxt is a mobile marketing company that creates mobile communications and advertising solutions. The research house Ovum predicts that the mobile marketing and m-commerce industry will grow to be worth more than dollars 8 billion by 2005, and Flytxt is planning to cash in on this.
The company claims to allow its customers to develop a one-to-one, interactive dialogue with people via their mobile phones or personal digital assistants. Flytxt's proprietary software tracks and reports on the mobile ad campaigns that it runs on behalf of its clients, giving a high rate of accountability.
Characteristics: Mobile marketing as a platform is still in its infancy. Most messages, which are sent using SMS technology, are generally text-based. Emap is one of Flytxt's clients, and the company is running a campaign for the Smash Hits brand. Users send a text message to a phone number listed on a flyer circulated in the magazine and sign up for Smash Hits news and information.
Eleven per cent of Smash Hits readers subscribed to the mobile service and the campaign also had a viral element, as 40 per cent of the requests for subscriptions took place after the first week.
Of all of the Smash Hits readers targeted with the campaign, only 1.6 per cent sent a return text message asking to be taken off the subscription list.
Target audience: This depends on the client. The campaign for Smash Hits had a young target audience, and teenagers are among the biggest users of text messages. Clients range from media, consumer goods and entertainment to financial services companies.
Principals: Flytxt was founded early last year by Lars Becker, previously at Morgan Dean Stanley Witter, where he invested in wireless and other technology companies.
Marketing: Flytxt is acquiring clients itself by approaching businesses and pitching, but it is also working alongside marketing companies and advertising agencies to develop mobile marketing solutions and strategies for their clients.
Competitors: Spotflash and Red Message are two companies operating in this space and some of the online advertising networks (24/7 Media, for example) have developed the technology for serving ads to mobile devices.
THE YEAR AHEAD
Far too early to say - things will become clearer as the market matures. However, the market is set for a steep growth curve and Flytxt is doing well to have got in there early. - We're not convinced.