Over 85 percent of marketers have reported that they plan to increase their mobile advertising budgets in the near future, according to a new study by the Association of National Advertisers (ANA) and MediaVest.
According to the study, 95 percent of marketers are currently using or plan to incorporate mobile advertising into their marketing plans. Study participants reported that brand building, awareness, and customer retention were the most common objectives for their mobile advertising plan.
“Mobile is a huge opportunity for marketers. [It’s] territory that has yet to be fully tapped,” said ANA President and Chief Executive Bob Liodice.
“Brands are clearly excited about the possibilities, but at the same time, perceived success rates have not increased significantly. The industry as a whole must move quickly to standardize measurement practices and address privacy issues.”
Over 83 percent of those surveyed reported that brand building was a primary objective for their mobile advertising campaigns. Almost 78 percent of those surveyed said creating brand awareness was also a key motivator for their mobile marketing plans.
Key motivators driving marketers to mobile included the ability to reach a unique audience, the chance to reach consumers on-the-go, and having location awareness.
The most commonly used tactic in the mobile marketing arena is the use of mobile website ads. Over 84 percent of those surveyed said they were using mobile website ads to extend their marketing efforts.
The second most used mobile marketing tool was reported to be search. Of those surveyed, 78 percent said they use mobile search advertising techniques despite feeling that they are not producing results. Only 53 percent of advertisers surveyed reported having success with their mobile campaigns.
Along with the lack of results, surveyed participants also worried that they did not have the proper metrics to gauge mobile success. Forty-two percent of those surveyed felt they lacked the proper metrics to measure the success of their mobile marketing campaigns.
To come up with the study results ANA and MediaVest surveyed 68 client-side marketers in the fourth quarter of last year.
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GroupM predicts that global ad spend will top $547 billion next year, up from $524 billion this year. While television will still capture the biggest share of that 12-figure pie (41%), digital's share will grow from 31% to 33%.
Brand advertisers and their agencies only want to pay for mobile ads that are seen by a person.
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