You’ve heard it before: this is the year of mobile (again), says Michael Twomey, SVP and MD at people-based marketing for Signal in this opinion piece. But before your eyes glaze over, consider some important insights about mobile advertising that were recently unveiled by Mary Meeker in her annually-anticipated Internet Trends Report.
Meeker states that advertising on the internet is accelerating quickly because of (you guessed it), mobile ads.
The growth of mobile ad spend is already tremendous but marketing spend is actually still “over-indexed” on other ad formats like TV when considering where consumers spend the majority of their time consuming media.
The bottom line is a $22 billion mobile growth opportunity in the US alone as marketing spend catches up with where consumers are.
It’s the same story here in Australia with PWC’s latest annual Entertainment & Media Outlook predicting that mobile advertising will account for 41 percent of the total internet advertising market by 2020, which represents $7.4 billion in mobile ad revenues.
But with this growth opportunity comes a catch. Meeker also reported on ad blocking – most of which is done on mobile devices. PageFair findings show that mobile ad blocking grew 94 per cent YoY to 420 million users globally, while desktop ad blocking increased just 16 per cent to 220 million users as of March 2016.
Marketers shouldn’t be too surprised by that – after all today’s hyper-connected consumers have high expectations, short attention spans and a long list of brand suitors at their fingertips. They don’t have the patience for mobile ads that annoy them, take too long to load, and suck up their mobile data.
If companies really want to make the most of the $22B mobile advertising opportunity, then building meaningful, useful, and personalised experiences across devices must be a top priority.
It is this premise – the idea of meeting consumer needs by being more relevant and contextual – that is driving the next wave of digital marketing. Cookie-based approaches that use browser-based bits of code not made for mobile devices will soon be replaced by people-based marketing.
This new discipline uses first-party data to reach and engage customers with immediacy and relevancy wherever they are across any device.