The importance of mobile devices is recognised by many, yet companies are still struggling to keep up with the mobile advertising trend. The main reason is that large companies tend to feel that mobile advertising is risky. Find out why taking up mobile advertising is a smart and safe bet, making it more than just a “should have” for your advertising campaigns.
Mobile Advertising Is Exploding
It is a well known fact that the mobile advertising market is growing at a significant rate, and the astounding figures for mobile usage reveals the power of mobile advertising. Since 2013, time spent in mobile apps has grown 90%, and the usage of wearables has increased 57% from 2014 to 2015. Also, 87% of Millennials keep their smartphones on their hands throughout the day, and 78% of the Millennials spend a minimum of 2 hours on their smartphones on a daily basis.
As consumer behaviour continues to shift from desktop to mobile devices, marketers are looking at interesting ways to drive users engagement and at the same time, monetising the time people spent on their mobile devices.
Mobile Ad Revenue
According to eMarketer, the global mobile ad spend will hit $100 billion, which is 51% of the digital market. Additionally, marketers plan to increase their advertising budget for mobile devices by 160% in the next three years.
The IAB reported in August 2015 that the global mobile ad revenue in 2014 was $31.9 billion, which is a 65% jump as compared to the previous year and made out of:
North America: 44.9% ($14.318m)
Asia-Pacific: 36.5% ($11.627m)
Europe: 16.6% ($5.306m)
Middle East and Africa: 1.2% ($379m)
Latin America: 0.8% ($239m)
On top of it all, Apple’s App Store users have spent over $1.1 billion in apps and in-app purchases in the two weeks ending January 3 2016.
Although these numbers do not indicate a 100% successful rate for mobile advertising campaigns, it shows a huge potential of the mobile advertising market, and that the mobile trend should be taken very seriously. We are living in a mobile-centric world, and the consumer behaviour and marketers’ plans reflect this.
Do not avoid doing mobile advertising because it may just prove to be a mistake in the long run. Start engaging with customers on the very devices that they never want to put down.
YOOSE is the market leader in location based advertising solutions in Asia-Pacific and Europe. An early pioneer in location-based technology, YOOSE has been delivering powerful mobile campaigns for global brands since 2008. YOOSE understands how location-based technology is changing the way mobile consumers behave and interact with brands; it employs its deep expertise, wide experience and passion to help brands capture the opportunities that the rapidly evolving area of location based advertising can bring.