Who are the big-spenders in mobile advertising? In Q3 2011 the financial services sector jumped from third place in Q2 2011 to become the leading vertical in the U.S., ranked by mobile ad spend, followed by Entertainment, Retail & Restaurants, Telecoms and CPG (consumer packaged goods). Globally, finance placed number four.
This massive growth, with ad spend increasing over 356 percent year-over-year, confirms banks, insurance companies and credit card companies are aggressively using mobile to raise awareness of their products and services, generate leads, encourage app downloads and —significantly—engage more with people on their device(s) of choice. The vast majority (80 percent) of people accessing financial information or apps are smartphone owners, (more than double the general mobile population). Moreover, the mobile finance user is also 76 percent more likely than the general mobile user to own a tablet or e-reader device.
People are increasingly relying on mobile for assistance to make a wide variety of product and purchase decisions, a seismic shift in behavior that spells opportunity for brands across all industry verticals, including automotive, retail, travel, finance, entertainment, pharmaceuticals and telecoms.
But there's a catch. Marketers must develop solid advertising strategies that understand who their customers are, how they use their mobile devices and where campaigns can reach them at scale.
Rory Sutherland, Vice Chairman of Ogilvy Group and self-proclaimed "fan" of text messaging -- advises marketers to focus on what matters most: getting the value exchange right.
There are no easy answers, but there are some questions that will help produce them. Ask yourself: "Would this [marketing/approach] annoy me?". That's a good start. "There are just basic rules of etiquette. You use different media judiciously and the ability to do that intelligently is one mark of a mature and intelligent service brand."
On the heels of last month's survey of mobile telecoms execs across the Asia Pacific region (and a tremendously successful #doxchat Tweetchat that had a global reach of 92,000+), Amdocs is gearing up to release a new report looking at mobile operator attitudes and activities around mobile payments. Here is an exclusive preview of the key findings.
September 5, 2011
Posted in Amdocs, Briefing Rooms, Featured, Mobile Billing & Payment, Mobile Commerce | No Comments »
Rory Sutherland, Vice Chairman of Ogilvy Group, a leading integrated advertising and marketing communications agency, challenges the view that mobile is somehow in its infancy and has yet to grow up and compete with the Big Boys (such as online, TV and print) that continue to account for the lion share of advertising spend.
As Rory sees it: the proper way to measure the importance (and effectiveness) of mobile in the marketing mix is not to look at spend. The cost of developing a brilliant text-based mobile marketing campaign may be minimal, but the impact can be tremendous.
How and why should brands and marketers take advantage of the unique characteristics of mobile to connect with us at the moments we need them most? Rory Sutherland, Vice Chairman of Ogilvy Group, a leading integrated advertising and marketing communications agency, tells why marketers need to think beyond reaching a target audience.
As Rory sees it: The real power of mobile is context. It allows brands to interact with people during target moments (I need something now), target moods (I want something now) and target mindsets (I am considering a purchase, for example). Another reason brands need to focus on this: Google can't.
