With the growing trend in mobile usage by millennium and young adults, several startups based around mobile chatting system are on the rise, including Skout, MeetMe, and other niche focused companies. We can expect to see more several mobile advertising and chat platforms on the rise, along with IoT and several app development.
As of spring 2017, based on the eMarketer data, the 2017 mobile advertising is posed for nearly $28B, which has steadily grown since 2012. This data prediction was also seen in other top digital advertising research firms. (Please see below images.)
In reviewing in-depth advertising revenue origin, the large portion of the advertising revenue originates from the financial mobile advertising (42%,) while retail sales on apparels and clothing at 29%. Interesting enough, large majority of the mobile users are utilizing Amazon app or its website as “product search”.
Implications in Mobile Advertising:
1) Developing a Strong eCommerce Sales Channel through Amazon
- Increased Product Visibility & Brand Recognition
- Provide Customer Reviews
- Pricing would have to be competitive matched with product quality
- Developing strong partnership with Amazon Business Channel
2) Investing in Mobile Advertising & Apps
- To reach the millennium and growing mobile buyers, developing Apps would be the best recommendation. To develop mobile apps, work with local app development companies.
- Develop internal mobile advertising team or recruit/educate on mobile marketing
- Identify mobile app partners for mobile advertising partnership
- Develop strong UX/UI based mobile apps
- Attend, network and meet mobile advertising firms in developing valuable insights in “how to conduct mobile ads” and “engage mobile users through mobile ads”.
To download the latest eMarketer 2017 data on Mobile Advertising, click here.