The advertising world has been abuzz with reports and statistics on mobile marketing. Its expected growth in upcoming years has many reevaluating its role in branded marketing strategies.
According to a December 2013 study from Advertising Age, 42.8% of B2B marketers plan to up spending on mobile marketing in 2014, a 7.3% increase from 2013. Additionally, nearly half of respondents said mobile advertising would be extremely important to their organizations in 2014, compared with just one-fifth who said the same for 2013.
Though growth is imminent in this category, marketers have a long way to go. In 2012, only 30% of B2B advertisers used mobile marketing—in 2013, the percentage jumped to 38.6%. Many of the marketers utilizing mobile advertising are seeing success, however. Data released in September 2013 by the Interactive Advertising Bureau and Ovum showed that 94% of marketing executives who used mobile advertising were either “fairly satisfied” or “satisfied” with the tactic.
New projections from Gartner predict worldwide spending on mobile ads to increase to $18 billion in 2014, up from $13.1 in 2013. By 2017, the market is expected to reach $41.9 billion.
Though growth may be hindered by an oversupply of inventory, “from 2015 to 2017, [it] will be fueled by improved market conditions, such as provider consolidation, measurement standardization and new targeting technologies, along with a sustained interest in the mobile medium from advertisers,” says Gartner Research Director Stephanie Baghdassarian in the report.
Both Yahoo and Facebook have made recent moves to further their mobile marketing efforts. Today, Facebook reported that the company is running a small test to integrate its ads into other mobile apps.
“Our aim is to demonstrate even greater reach with the same power of Facebook targeting for advertisers both on and off Facebook,” states the company’s blog post.
Facebook’s current test is limited to a few key partners and advertisers, but the company will share more details over the coming months.
Yesterday, Yahoo announced its acquisition of Sparq, a mobile marketing company. Sparq’s “deep link” technology for mobile apps allows users to jump to a certain spot within an app through a link in another app.
For example, “a link in a Dropbox email about new functionality added to the new app will take a person directly to that particular feature within the Dropbox app on their phone, instead of simply showing the app’s landing page and letting users figure it out,” reports Tech2.
Yahoo hopes this technology will improve the functionality of many of its apps on Android and iOS.
More and more companies are beginning to make mobile marketing a priority in order to accomplish advertising objectives. With the increasing number of mobile platforms and solutions entering the market, brands will have more than enough opportunity to incorporate mobile advertising into their promotional strategies.