The Tipping Point of Mobile Marketing Opportunities
We all know mobile advertising is growing, but by how much? Where are budgets for mobile advertising coming from? And what defines success?
Marketers face these questions daily as they decide to move ad dollars into the mobile medium. Mobile brand advertising is growing at a much faster rate than the online medium did in its early days, but what do you need to know to stay ahead of the growth?
Nielsen’s The Mobile Tipping Point, Best Practices for Accelerating Mobile Brand Advertising Growth summarises the findings of a Nielsen survey in Australia about brand marketers, media sellers, and agencies. Highlights from this report include:
- Spending on mobile brand initiatives will grow faster than spending on direct response initiatives in 2014
- One-fifth of advertisers will increase their mobile spend by more than 20 percent in 2014
- Roughly three-quarters of new mobile funds will come at the expense of other online and offline budgets
- Advertisers most desire GRPs to measure audience reach and brand lift to measure ROI
- Seventy percent of advertisers would increase use of mobile advertising if there were better analytic tools.
The new mobile medium represents an appealing opportunity for brand marketers – enabling them to reach a pool of consumers that are growing by the day anytime and anywhere. Because of its relative youth, however, there is still confusion over how best to engage in mobile advertising. Differences in technology mean that marketers cannot always employ the same best practices in mobile that are used for television or online advertising.
Unlike the online medium, mobile is being adopted for branding purposes relatively early. However, mobile marketers and media owners identified the inability to measure the effectiveness of their mobile efforts consistently with other media as one of their biggest pain points, and a significant barrier to mobile growth.
Through interviews with advertisers, agencies, and media providers, this paper provides insights on current mobile advertising activity, the mobile advertising outlook for the coming year, and best practices emerging for measuring and optimizing mobile advertising.
As a result of this misalignment, many advertisers (55%) are doubtful or unconvinced of publishers’ targeting claims and about mobile advertising’s effectiveness, indicating that the medium’s potential growth may be hampered by a lack of relevant metrics that are widely adopted and used.
• In addition to relevant metrics, there are other best practices that, if adopted, brands and agencies said would increase their use of mobile brand advertising, including:
• Alignment on and communication of campaign goals before the campaign start (68%)
• Monitoring campaigns for in-flight improvement opportunities (68%)
• Calculating the ROI of every campaign (77%)
• Measuring reach and ROI at the same time (70%)
Media sellers and agencies that adopt these best practices and invest in what is needed to deliver these capabilities will be in the best position to capture resulting growth in mobile brand spending.
Is Mobile marketing part of your digital communication strategy? Do you have dedicated specialists or are you trying to just bastardise your offline strategy and make it fit? Some key areas to consider from Hall of Fame Marketing Bendigo when deciding where to spend your marketing dollars to target your key customer groups.Blog and tagged Branding for Successful Marketing, Hall of Fame Marketing Bendigo, Mobile Marketing