Thursday, September 3rd, 2015 | 6 min read
If you are skipping mobile in your digital ad campaigns, it’s going to cost you. Big time.
Mobile device adoption is hitting stratospheric levels. The current world population sits at 7.2 billion, yet there are 7.5 billion mobile connections. You read that right: there are more mobile connections than there are people alive in the world.
Mobile advertising is a big deal, even if it’s an emerging model that’s still in its infancy stages. As every new model, it still has challenges. Device screens have been so tiny that you couldn’t repurpose creative, and customers’ mobile habits are ever evolving and getting more sophisticated. There are also tracking issues that still need to be worked out. That being said, there’s a bright (and profitable) future in mobile. In fact, mobile ads are going to account for 71% of all digital ad spending by 2018, with Facebook, Twitter, and Google accounting for over 60% of the market.
And here are six more compelling reasons why your business can’t afford to ignore mobile advertising.
Bloomberg shows that Americans now spend more time on their mobile phones than on their television sets. Currently, there isn’t much of a difference (Americans spend 2.95 hours a day on their phones and 2.8 hours on their TV). However, the amount of time spent on phones is increasing each year, while TV consumption stays the same.
Americans also spend more time on the internet using their smartphones instead of PC desktops. A Nielsen study notes that users spend 34 hours on mobile internet a month, compared to 27 hours on the PC. What’s even more interesting is that 84% of users consider smartphones “a second screen” while on their TVs or desktops at the same time. Smartphones allow people to seamlessly engage in multiple tasks.
Businesses are becoming mobile friendly to be more accessible for users on the go. Google recently changed its algorithm to make mobile friendly sites appear higher in its search results, creating big shifts in which websites are more accessible. Currently, only 52% of the Fortune 500 websites are mobile friendly. But this could become a necessity in the near future as 72% of consumers want more mobile friendly sites.
Mobile advertising spending in the US hit $19 billion in 2014, and is expected to increase to $28.5 billion in 2015. We’re looking at nearly $70 billion spent on mobile worldwide. If you want to know who’s buying these ads, you may want to take a closer look at your competition.
A bonus: businesses are getting these ads on the cheap. Mobile brands have underinvested in this area, and prices haven’t caught up yet. Compared to the cost of traditional advertising streams, mobile ads are a bargain. TV and print ads’ CPM is $100, while online CPM hovers around $3.50. Mobile CPM, on the other hand, can be as low as 75 cents.
Smartphones and tablets have saturated the population. Ninety percent of US adults have mobile devices, and those devices are always within arm’s reach. You have the ability, within reason, to connect with them anytime, anywhere. In fact, people are almost three times more likely to open a mobile ad than a desktop ad.
The first mobile ads were basically iterations of other channel ads. These ads were annoying, poorly designed, and hard to read. It was impossible to track brand-lift or unique reach since cookie functionality was severely limited on mobile
Thanks to social media sites, which have taken great strides to ensure that ads do not interfere with the user experience, mobile ads are seamlessly integrated into their environments. For example, ads on Facebook and Tumblr appear as posts that you can scroll past without being interrupted.
Social media is a great source for targeted advertising (and more customized messaging), as businesses can use the information that people publically shareto identify potential clients. This is why companies will spend an estimated 11 billion on social media advertising by 2017.
Mobile advertising can feel elusive and ambiguous. However, we’ve been through this type of new media adoption before, way back when we still used the phrase “Word Wide Web.” And look how that turned out.
Your brand’s success in mobile is within arm’s reach. This Insider’s Guide to Social Mobile Advertising will help you to start connecting your brand with your mobile customers today.
This article was originally published in Forbes on August 21st, 2015.
About The Author: Ekaterina Walter is a business and marketing innovator, international speaker, author of The Wall Street Journal bestseller Think Like Zuck: The Five Business Secrets of Facebook’s Improbably Brilliant CEO Mark Zuckerberg and co-author of The Power of Visual Storytelling: How to Use Visuals, Videos, and Social Media to Market Your Brand.
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