22 Jul Mobile Ad Spend Up 83%: Brands Seize Opportunity to Directly Connect with Shoppers
Mobile ad spending is growing faster than any other ad channel this year. According to eMarketer, mobile ad spend is up 83% to reach nearly $18 billion in 2014. If analyst predictions pan out, mobile advertising will become the second-largest ad channel – second only to TV. AdExchanger Editor Kelly Liyakasa said it well: “As brands begin to apply real-time data to contextualize ad buys, demand and dollars will shift from TV budgets to digital video and mobile.”
Readily available and newly integrated real-time product and location data is driving this digital shift in ad dollars and smart brands are taking note. Brands everywhere are “mobilizing” to add context to their campaigns and match real-time mobile ads to shoppers based on the location of product inventory. The opportunity for them is huge. A recent survey by mobile agency Fetch found that 65% of mobile shoppers visit stores after viewing a mobile ad, and nearly half of respondents said they would click on a mobile ad that was relevant to their current location.
Because Retailigence tracks inventory and pricing information for more than 12 million products across 150,000 stores, many digital ad companies, such as AdColony and Tremor Video, have teamed up with Retailigence to create these contextual mobile ads for top brand clients.
AdColony, a mobile video ad platform (recently acquired by Opera), delivers rich calls-to-action to consumers after they view an HD mobile video ad. With product location data, they have the potential to deliver even greater value for each brand mobile video campaign. The local inventory and pricing data allows them to guide mobile consumers to the closest store to find and buy the products they want – a direct connect between brand and consumer. Check out a preliminary mockup of one of the ways AdColony will be able to implement this for brands like beats by dr. dre.
Tremor Video, an ad tech company that works with all ten of the top consumer packaged goods companies, is eager to share the Where To Buy feature with brands. Where To Buy displays where specific products are available, along with product information like pricing, promotions, etc. For example, if a consumer is watching an ad for Tide, an overlay could appear and show where the nearest place to buy Tide is and how much it costs at that location. Tremor has since introduced “tap to map,” a feature on mobile devices that allows consumers to find the nearest storefront.
MediaPost Editor Chuck Martin said it best, “The long-time promise of increased efficiencies in the supply chain may be coming in the form of direct mobile commerce, more tightly between the consumer and the brand.”
Forward-looking brands are heeding the call and integrating mobile and in-store data, including location, inventory and pricing, to power their online-to-offline (O2O) marketing campaigns and drive their bottom line.
To learn more about how to target mobile shoppers and help buyers find a brand locally, visit Retailigence at http://www.retailigence.com/brands/.