Mobile technology is touching heights these days and the small device is offering a lot to the users other than making and receiving calls. With a new platform of smartphones in the market, this technology is giving a tough time to the other fields of advertising. The mobile advertising is an effective and more result-driven form of marketing. At times you are away from your computers but still have mobiles in your hands and it remains with you most of the time. So, your mobile is the ultimate platform for various companies to advertise their products & services. This phenomenon has given rise to a new form of marketing popularly known as mobile marketing.
Mobile marketing is blooming at a much faster rate as compared to the other forms of marketing. Though Internet marketing is on rise, mobile marketing is considered as a more cost effective, personalized, and immediate form of marketing. It is estimated that the world market for mobile marketing and advertising revenues will reach nearly $50 billion by 2014, up from about $29 billion today, growing at a five-year CAGR rate of nearly 12%. Europe and North America will grow at the fastest rates, about 16% through the period, to reach $16.3 billion and $12.4 billion, respectively. Many companies are using this new form of marketing to enhance brand awareness and increasing sales effectiveness. It has changed the ways of many users as they use their phones to search and sometimes, even, buy the products & services.
People often receive some kind of advertisements on their mobiles. These advertisements come in the form of SMS, MMS and Calls. You might be anywhere but you would keep on receiving such form of advertisements. SMS and messaging continue to dominate as the vehicles able to interact with the largest portion of the installed base for mobile phones. Mobile games used to represent the total sum of in-application advertising, but not any more. The surge in smartphone applications broadens the appeal for marketing messages inserted during program run time. Location is the mobile marketer’s best friend as it quickly becomes an integral component for precision audience targeting.
Most of the companies around the world are turning their marketing objectives towards the widespread mobile marketing. Companies are using all manner of lucrative methods to attract the buyers from various segments. If they are targeting kids, they can place their advertisements in mobile games or sponsored videos. One of the important things about mobile marketing is that it is the cheapest means of advertisements. Companies need not to invest huge amount of money for advertisements through mobile marketing.
2009 is expected to be a decisive year for mobile marketing spending as marketers worldwide move from disillusionment over their expected return from this platform to the realization that they can indeed enhance consumer brand equity via the targeted precision and customized experience that mobile affords over other media placements.
