This is the age of technology. It’s almost unheard of to come across a person who doesn’t have a mobile phone these days. In fact, the majority of consumers, business people, students, parents, and well – everyone – lives and swears by their smartphones. This relatively new industry is the reason why mobile is an economic engine today.
A Young Industry
From writing to advertising to making sales, smartphones are responsible for turning the wheels of many businesses in today’s economy. This is an idea that companies and analysists alike are still trying to master. In the meantime, there are many ways that a smart person or business can use mobile for their benefit, but it takes some solid knowledge and understanding of a few different markets combined with a great strategic plan and the right budget.
Whether you’re in the business of marketing or not, it’s only logical that where there’s mobile, there’s marketing opportunity as well. Recent years have seen a decline in mobile ad spend rates, but as the power of mobile evolves, spend rates for mobile advertising are projected to rise much higher than many had expected.
Projections for Mobile Ad Spend Surging
A somewhat unexpected surge in the mobile advertising market has left some big companies wondering how to shift their budgets to accommodate new advertising cost projections that are much higher than what had been estimated previously. The projected costs for mobile advertising are four to seven times higher than they are today, which means that ad spend can reach more than $200 billion globally by 2017.
Agencies and marketers have observed the growing ad spend on mobile in recent years. It’s only logical that as more and more people spend their time online with smartphones and download apps, advertising will creep its way into the picture and eventually dominate. In order to chalk out a good ad spend plan, people who work in the marketing industry should be following the trends and projections of mobile markets as well as the mobile advertising market.
Use it – Don’t Abuse it
When the internet became popular, the same sort of thing happened with Google AdSense. People realized how much money they could make and seized every opportunity to make it through content writing, SEO and advertising. In addition to agencies and marketers deciding where to relocate their budgets to be able to increase their spend on mobile advertising, there will also be the challenge of developing some boundaries so that the same sort of complications that Google faced don’t arise today in the mobile advertising business.
There are some companies taking advantage of mobile marketing opportunities, offering help with app monetization strategies. These companies are in the business of helping businesses connect to some of the top advertisers out there today, close direct deals more quickly and earn more money for each application installed. As long as these companies don’t take advantage of agencies and marketers, and agencies and marketers are able to benefit from using their services, mobile advertising can continue to evolve into a great economic machine.