Remember the 3 L’s of marketing? The most important tenet of them all? “Location, location, location!” There was a time we heard that phrase being chanted from the rooftops of all the skyscrapers in New York City. Then came the advent of the digital age and Web 2.0, and suddenly we were swept over by banner ads, click-throughs, digital ROI’s, SEO and Google rankings.
Just when we were getting used to the new lingo, we began dancing with business in the Social Media arena (read: Foursquare check-ins). Now, a business isn’t complete if it doesn’t come with a Social Media and mobile advertising strategy. And funnily enough, the new marketing wheel is turning back around to making “Location!” it’s foremost strategy.
According to Gartner, mobile-ad spending in the U.S. will rise over $3 billion dollars in 2011. eMarketer’s projections are on the more generous side – around $31.3 billion. Despite the disparity in figures, given the number of smart phones out there, clearly, the trend is here to stay.
Top 3 Trends to Come
1. For the future – 5 years from now – we can expect to see quite a few new developments in Geo-based advertising. Companies that are still targeting consumers by traditional methods, including demographics, will likely begin targeting ads relevant to purchases and mobile locations. (If you feel like you’re being followed, it’s probably true!)
2. Expect to see greater interactivity and a richer experience from your mobile ads. Although very appealing, interactive ads are still not the norm in mobile advertising. However, a few years down the road are likely to bring ad narratives that not only elicit a response but also engage people at an emotional level. Let’s just say things are only bound to get much “cooler” from here!
3. SMS – Ubiquitously known as text messaging in our corner of the world, advertising by Short Message Service (SMS) will see an increase of dollars being dedicated for its specific use. Why?
Immediacy, for one. Customer drive opt-ins for another. And not to forget the fact that text messaging is a low-cost, high-result medium, showing Click-Through Rates (CTR’s) in the mid-teens – approximately 14%, with a conversion rate of 8.22%.
All around, good numbers and good news for the industry. Which trends have you been watching lately? Let us know in the comments!
