The mobile advertising industry is exploding. Mobile ad spend is expected to reach $2.5 billion by 2014 in the U.S., according to comScore. So it makes sense that more brand marketers than ever before are planning to increase their ad spend. In an IAB survey of 300 top-level brand marketers released Monday, a full 72% said they have plans to increase their ad spend, with 35% saying they plan to increase their ad spend by over 50%.
Where does mobile advertising stand with most marketers right now? The study found that 51% of those surveyed said that they already treat mobile platforms as a critical part of their current marketing strategy, while another 35% say that they are “experimenting” with mobile advertising. Additionally, 63% of respondents said that their companies’ mobile ad spend has increased over the last two years, with 29% saying that their ad spend has increased by over 50%.
Immediacy was the most commonly listed reason for why a marketer was looking at mobile advertising, with 57% citing it as the main benefit, while 54% said cost effectiveness was a big deal for them, and 52% cited increased engagement.
"Given the current economic climate, these overwhelmingly positive ad spend numbers are telling. They truly underscore what those of us working in the mobile space have always recognized—that the remarkable evolution and progression of mobile interactive advertising has only begun to deliver on its extraordinary promise," said Anna Bager, VP and GM of the IAB Mobile Marketing Center of Excellence.
Of course, the type of device a marketer advertises on can make all the difference in a campaign’s performance. Fully 60% of respondents said that their main focus is on smartphones—which makes sense. Another 31% said that they’re pushing out their ad campaigns via tablets, while 22% said they’re focusing on feature phones. Interestingly, 10% said that they’re advertising via eBooks, which has probably been made that much easier by Amazon’s recently released “Kindle with special offers,” which is a cheaper Kindle that delivers ads. It sounds like an iffy move, since it seems unlikely that you’re going to want to check out ads while you’re reading a book, but that kind of engagement is pretty alluring nonetheless.
Image source: mobiadnews.com