Here. There. Everywhere.
Social media and mobile video advertising are both on the rise. Both here in the U.S. And across the pond in the U.K.
Need more evidence of these surging trends in U.S. and U.K. advertising efforts? Well, look no further than a pair of recent reports.
Let’s stay States-side first, and consider a new forecast from ZenithOptimedia. According to this forecast, sunny skies are ahead for social media advertising spending, with such ad spending estimated to reach $4.6 billion this year – up an astounding 35% from 2012’s $3.4 billion figure.
Digging deeper into this data, the ZenithOptimedia report reveals that spending on social media advertising targeted to and designed specifically for mobile devices and their many millions of increasingly avid users will surge an incredible 170% – from $275 million in 2012 to $740 million in 2013.
But wait, there’s more growth in store here. Much more, if this forecast is to be believed. Looking down the road, the ZenithOptimedia forecast sees social media ad spending skyrocketing to $8.22 billion by 2015. If this does in fact occur, that will represent a robust cumulative annual growth rate in social media ad spending of around 35% over the next two years. Mobile advertising in particular is predicted to soar some 86% to $1.37 billion in 2014, then 62% to $2.22 billion in 2015. At this point, mobile advertising is expected to account for 27% of the total social media ad spending pie – or more than one quarter of all social media ad spend.
ZenithOptimedia bills itself as “The ROI agency,” and as the MediaPost The Social Graf blog post on this forecast accurately opines, social media platforms still have to do a better job of consistently, convincingly demonstrating ROI to their growing ranks of advertisers and advertising decision-makers. This summer, renowned research firm Forrester released the results of a Duke University-headed survey that showed 38% of CMOs identified proving ROI as the top challenge they face today.
Meanwhile, back in Jolly Ol’ England, a marketing tech and social video platform called Unruly recently reported that in its most recent worldwide data charting usage over the last year, the click-through-rate (also known as CTR) to a brand’s website is nearly a full three times higher from a consumer’s mobile device than it is from their laptop or desktop.
Unruly tabulated data from more than 3,000 branded campaigns, measuring performance of both mobile and desktop campaigns against a range of metrics, including plays, CTRs, interaction rates and replay rates. The results showed that the average CTR for mobile campaigns was 13.64%, or nearly three times higher than the average CTR for desktop/laptop campaigns, which clocked in at just 5.45%. Even more amazingly, that 13.64% represents an astonishing 265.7% growth from the fourth quarter of 2012.
According to a MediaPost VidBlog blog on the Unruly findings, they are consistent with a recent IAB report, compiled by PricewaterhouseCoopers (PwC), that found mobile ad revenues surged 145% to more than $3 billion in the first half of 2013 from the same period a year earlier.
“It’s a major trend,” Unruly co-founder and COO Sarah Wood told VidBlog of the findings. “Consumers are just much more used to using mobile and advertisers are just so much more used to advertising using mobile.”
Advertisers and consumers alike may be becoming more and more used to mobile video ads, but if they’re to truly become commonplace and anything like an industry standard, they may have to work harder to more closely approximate, or at least somewhat replicate, much of what we’ve come to know, love and expect from television spots over the past several decades.
Here at the official blog of Fang Digital Marketing, we’ve blogged a lot in recent months about this incredible increase in mobile advertising and social media advertising alike. Of course, one fuels, augments, enhances and accompanies the other, as more people now use their smartphones, tablets or other mobile device to not only explore, connect and share content and information via social media, but more and more, to research and even make purchases not just online, but at brick-and-mortar locations as well.
Apple famously sold 9 million new iPhones in its recent launch weekend alone, and a recent research study revealed that the number of U.S. mobile phone users who owned or used a smartphone this year reached a whopping 74% – up dramatically from 58% in 2012.
Call it social mobility, if you will.
In short, smartphones and tablet computers are here. There. Everywhere. And they’re in all these places to stay. So it only makes sense that advertisers would move more and more of their marketing dollars into development of communications designed to reach mobile device users. After all, this has always been the core of advertising and marketing – speak to people in a language they can understand and embrace, and do it in a manner, medium and location that ensures they are listening to and watching you in the first place.
If you’re ready to move more of your messaging into mobile and social media spaces and places, give us a call here at Fang Digital Marketing today. Or hit us up on Twitter. We’ll see what we can help you and your brand do…to start shining online.
In the meantime, you can download our helpful, easy-to-digest and entirely FREE ebooks on attracting customers with social media in general…and Twitter in particular. Go ahead, dig in, simply by clicking on those links.
And make your move toward social mobility today!