Bullish on Mobile
Mobile is growing so fast that analysts are having to revise their predictions. Why is this? The need for more convenience due to our busy, on-the-go lifestyles combined with increasing demand for instant access to information, products, and services.
In fact, because of the increases in mobile device usage, many U.S. businesses are feeling the pressure to step up their mobile advertising efforts, which in turn, has forced analysts to revise their original predictions only 4 months into the year. In December of 2012, eMarketer projected U.S. mobile ad spend to reach $4.4 billion in 2013, a far cry from their recently released projection of $7.29 billion. These numbers keep rising, and analysts have predicted that mobile ad spend will reach $27.17 billion by 2017.
What This Means to Your Business
Implementing a mobile marketing strategy is no longer an option for most businesses. It has become a necessity. If you have yet to adopt a mobile marketing strategy, here are three reasons why you’ll want to start now:
1. Low Cost
With relatively low costs, mobile advertising provides the opportunity to reach a highly targeted audience at a fraction of the cost of traditional advertising.
2. Large Audience
As of December of 2012, in a survey conducted by Pew Research Center’s Internet & American Life Project, it was found that nearly half of U.S. adults own a smartphone device and over 50% of them use it to access the Internet. According to BIA/Kelsey, mobile local search will surpass traditional local desktop search in 2015, which presents a huge opportunity for local businesses.
3. Competitive Advantage
Mobile advertising is still in its infancy, and has the potential to grow astronomically. If the above predictions come to fruition, the future of web usage will be dominated by the mobile industry. So instead of trying to play catch-up in a few years, investing in mobile advertising now will give your business an advantage over your competitors.
In sum, the mobile industry and the number of U.S. consumers that use mobile devices to conduct searches and make purchases is growing, and growing fast. With relatively low costs, the potential to attract a large, highly targeted audience, and the competitive advantage of getting in early, business owners and marketing professionals can no longer afford to ignore mobile.