It is not hard for marketers and journalists to convince us that the future of marketing may be in the hands of mobile advertising. Everyone’s using smartphones, and most of us are using them not only for calling or texting friends. We use it for surfing the Internet and buying things online–and there’s a big possibility that you’re reading this piece on your mobile phone.
In the early years of iPhone’s existence, advertisers struggled to keep up with the ever-changing online behavior of users. This became worse when Android phones made smartphones available to the masses. Now, people are using desktop computers less, and most online searches are done via mobile. Even website designers and strategists like ITCraft and InGenium are adamant that having mobile-responsive websites is the only way to become relevant on the online realm.
According to eMarketer, mobile ad spending in the US for 2015 is now $28.7 billion, which is 49 percent of the entire online ad spending. This will grow more in 2016 to 60 percent, as smartphone producers continue to release better and faster phones.
Analysts also see a tectonic shift in how marketers disseminate their advertisements. By 2016, most advertising will be happening inside apps, and brands advertising on mobile Web will show a gradual decrease in number.
Online advertising company Marin Software also believes that mobile ad spending will finally surpass desktop spending before the year ends.
But even experts cannot fathom how fast mobile advertising has grown over the past few years. In 2011, marketers were still doubtful of mobile advertisement’s capacity to take off. Desktop was too ubiquitous, and only a few websites then were mobile-friendly. The following year, Facebook’s IPO fell short of expectations as users were not swayed by mobile ads’ capacity to become significant in the near future.
But now, in a rather unprecedented pace, mobile advertising is continuously growing not only in the UK and the US. More and more advertisers across the globe are convincing brands to put more money on mobile. By 2016, mobile ad spending will go beyond the $100 billion mark, a number that could end up miniscule should spending rates once again increase in yet another unbelievable speed.
But experts believe that there is a little disconnect. For them, advertisers remain slow when it comes to adjusting to the unprecedented speed of mobile.
“Advertisers have been slow to adjust to the rapid uptick of mobile. We expect the spending to shift over very shortly,” says eMarketer chief content officer Ezra Palmer.
Palmer added that consumers are watching less TV these days, but spending more time with video on their smartphones. However, most ad money is still spent on TV, but only 77 percent of total time is spent on video. Meaning to say, advertisers must begin to reduce their TV ad expenses and put most of their money on mobile, especially to application-centric advertising. Mobile makes up almost 12 percent of total video watching time, but only gets 3 percent of total video ad spending.
But experts are confident that there’s no way for mobile but up. The strict competition among smartphone producers will secure the future of mobile advertising. However, desktop will remain relevant, though it will become unsurprisingly less significant in the years to come.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
Automation is happening—at a glacial pace
Everyone is talking about automation taking over jobs, but only a few people are talking about the fact that it's...
Renewable energy: A multi-trillion-dollar marketplace is emerging
The U.S. energy grid is ageing and it’s the perfect opportunity for energy contractors to up their game and help...
The current state of crypto gambling
Crypto gambling is rising in popularity but there are many things you need to know before you decide to dip...
This Wall Street outcast is giving everyone access to insider deals
Pre-IPO opportunities are no longer reserved for just the wealthiest one percent—thanks to a new equity investment platform.
Zoom and Pinterest surprise some with highly successful IPOs
Two unicorns, Pinterest and Zoom, made their stock debuts on the public market on the same day. Pinterest did well...
- Crowdfunding5 days ago
Wisdom of the crowd or herd mentality? A crowdfunding lesson
- Cannabis5 days ago
West Coast Ventures Group Corp. (OTC:WCVC) capitalizes on CBD market growth and the mainstream acceptance of cannabidiol
- Featured4 days ago
3 highly innovative restaurant stocks: Texas Roadhouse (TXRH), The Cheesecake Factory (CAKE), West Coast Ventures Group Corp. (WCVC)
- Economy4 days ago
Garden State vs Sunshine State: When will the retirement migration end?