Last year, well under half a billion dollars were spent on mobile marketing and advertising. Over the five years to the end of 2015, ABI Research expects that expenditure will grow at a compound annual rate (CAGR) of more than 40%.
According to mobile marketing strategies practice director Neil Strother, when compared to campaigns in more traditional media, mobile marketing can be relatively inexpensive. Moreover, ads can be highly targeted and paired with rich mobile content.
Mobile applications also offer a fast-track to potential customers, and while not all of them [mobile apps] are ad-supported, some are, and some brands are even creating their own apps. Also, the advent of HTML 5 will enable brands to offer web-based apps and services aimed at wider mobile audiences.
However, Strother cautions about some factors that still constrain the market, including the lack of standardized device platforms, networks, and web browsers, and the need for different campaign formats for different kinds of messages. Other inhibitors include mobile ad-resistant users, limited mobile ad budgets, and a lack of experience with this emerging medium.
His recommendations for mobile marketers are simple: Establish objectives, know your customers’ mobile behavior, devise a sound mobile plan, choose your tools wisely and measure results regularly.
Additional information about ABI’s “Mobile Marketing Strategies” is available from their website.