Budgeting for Mobile 2014
With consumer spending finally seeing a comeback post-recession; there seems to be an equal rebound in marketing spending. The global advertising market is expected to grow by 6 % in 2014.However this does not mean that all forms of advertising is expected to grow. In fact it is projected that TV Ad Revenues will drop around 3 percent – in part due to a lack of political elections or the Olympics. Despite being an off year for TV Advertising, for some reason this is still the most prestigious advertising platform.
Even though the advertising landscape is changing and adapting to new technologies, it is definitely lagging behind the times: mobile is just beginning to make a dent in the advertising world. With more and more Millennials coming of age, this will heavily affect the way companies interact with their customers. The trend has already been pushing towards a tailored shopping experience, where customers expect promotions, a social media presence and brand recognition.
As smartphones become more of a necessity rather than an accessory in everyday life, many top brands are beginning to notice mobile in the marketing landscape. Although digital advertising has become an important part of the conversation amongst marketer, mobile is the next frontier. The tech-community has experienced exponential advancements in mobile capabilities within the past year; however, this technology hasn’t caught on with most industries yet.
Digital, i.e. banner and video advertisements may seem like an easy solution to changes in the advertising world, but these forms of advertising lack interactive features and do not add much value to a brand or product. Mobile Apps however do not always fall flat, unlike digital ads – Apps allow brands to cultivate new technologies and use them to enhance the consumer experience or even to offer new ways of consuming. In this day and age, consumers are looking for authentic brands, what better way to build a strong and unique brand than through an App. People are more interested in the companies that can relate to us in new ways without trying too hard. It’s a subtle art to master, but mobile is definitely the next platform that has the potential to bridge the gap between corporate America and the consumer – allowing consumers to better communicate with companies and vice versa.
But it seems as though many companies are reluctant to adopt a mobile strategy. Digital is an “up and coming” player in the advertising world, rivaling TV Advertising whereas Mobile is more like the underground/dive bar option for marketers. This is simply because the return on investment (ROI) is not as easy to evaluate for apps. To help businesses calculate ROI of mobile apps, Aurnhammer provides some guidelines for measuring a mobile app’s success in its newly launched whitepaper “Budgeting for Mobile in 2014”, which can be accessed for free online.
Read more about the ROI of apps by checking out “Budgeting for Mobile in 2014” White Paper by Aurnhammer:
More Tech articles from Business 2 Community:
- Get Ahead of the Mobile Herd: 5 Best Practices for Mobile-Optimized Marketing
- Top Five Cloud-Based Learning Management Systems (LMS)
- Will “Smart-Devices” Change the Face of SEO As We Know It?
- Leverage Cloud Contact Center for Personal Communications in Financial Services
- The New World of Cross-Device Conversions