I think it is safe to say that most of us would rather lose our wallet than our cell phone. The world population of mobile subscribers is set to surpass 5 billion – a whopping 70% of the population. It’s no wonder that mobile is quickly establishing itself as a crucial advertising channel for businesses.
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The facts and stats below reflect the marked increase in spending for this marketing platform and what is driving this.
From TechCrunch: Mobile Advertising is Shaping up to be all Search (October 2009)
With the rise of Smartphones, mobile advertising promises to be a huge growth area.
- $1.3 billion is the projected value of the mobile advertising market for 2013 (in comparison to $160 million 2008).
- Display ads are projected to go from 13% of the total to 18% of the mobile ad market, while SMS ads will decline as a percentage from 63% to 9%.
- 73% of the mobile advertising market in 2013 will be made up of mobile search.
From Mashable: Google: Mobile Search and Ads Growing Rapidly in 2010 (July 2010)
- 62% more searches were done on Smartphones in the first 3 months of the year than in the previous three months.
- 50 times more searches are being performed by iPhone users than users of standard mobile features.
From New Media Trend Watch: Mobile Advertising to grow 74% in 2009 (September 2009)
- Mobile ad spend is expected to accelerate in 2011 as there is a shift toward digital marketing channels.
- By 2013 mobile ad spending is expected to surpass $13 billion.
So, it’s not surprising that Google has identified mobile search as one of its major areas of growth. Google currently crushes the mobile search market share with 98.29% domination, with Yahoo! in second place with only 0.81% (Marketing Pilgrim, 2010)
This shows a great deal of room for growth in the mobile marketing industry. I guess we will just have to wait and watch this space!
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