Last updated: 20 March 2014
We are entering into a new and critical phase of development in the mobile industry. The discussion is no longer centered on whether mobile fits in the marketing mix: mobile has clearly earned its place at the table. Just look at some of the numbers being cited: David MacQueen of Strategy Analytics recently predicted that global mobile revenues are forecast to grow 17 percent on last year’s figures and advertiser spend on mobile media is expected to increase by 85 percent from $6.3 billion in 2011 to $11.6 billion this year. A report from the IAB and PwC claims that mobile advertising is also the fastest-growing of all advertising segments, expanding last year by almost 150% to become a $1.6 billion industry, as reported by Cameron Scott.
So, while the figures and statistics vary, they all support the fact that the advertising industry is finally taking the mobile media seriously. What we are now debating instead is where mobile fits best on the customer journey. How can companies across all verticals craft mobile campaigns that focus on customer engagement, retention and CRM? That is where the focus should be: the customer experience.
Mobile marketing is experiencing a massive shift from experimentation to execution, reflected in the increased spend and advance of more ambitious campaigns that focus on consumers at every stage of the purchase funnel (awareness, engagement, consideration, conversion and loyalty). Just look at the Carling Black Label: Be the coach mobile advertising campaign which had ten million entries.
Now that brands and agencies no longer need to be convinced of mobile marketing’s importance. they have to get down the work of developing effective mobile marketing strategies that will allow them to achieve key business objectives and drive sales. Alongside the increase in the number of consumers opting-in to receiving personalized and tailored SMS ads, as well as purchasing mobile content such as applications, music and games, we are also seeing more and more major companies dedicate higher budgets to mobile, which is another key indicator of the sector’s growth. The only question now is who will be the winner and what will make them stand apart from the rest?