Pardon the Interruption
Your phone’s clock reads 8:53 a.m. What’s going on in the world? You browse your favorite news site to catch up. Scroll, scroll — Oops, you accidently tap an ad for a new streaming device — didn’t mean to do that. But, it’s funny and the product looks interesting, so you watch the entire video anyway. You bookmark the URL for reference later. This actually appears to be a product that would enhance your specific type of workflow. How convenient! But is it really a coincidence you saw this ad? Or, are there calculated marketing efforts being implemented in this digital rendezvous?
Choose from a Number of Potential Suitors
Wherever we go, our phones are within arm’s reach. It’s our resource for staying updated on current events, documenting our interests and keeping in touch with loved ones. As a result, it’s a common ground for how brands reach us — but oh, how the tables have turned. We’re no longer sitting ducks, force-fed advertisement. We decide whether to scroll past an advertisement or find out more today! With a firm grasp of this concept, entire divisions in digital marketing are exist, for the sole purpose of meticulously analyzing our web-browsing habits, spending patterns and interests in order to curate engaging content that converts our interest into sales. According to the IAB Internet Advertising Revenue Report conducted by Princewaterhouse Coopers, of the $59.6 billion spent on digital media in 2015, nearly 35 percent was poured into mobile advertising. This is a leap from 2014, which took 25 percent of $49.5 billion.
Interestingly, more than half of mobile spend is funneled into display ads. But what about them is so attractive? Their versatility. They can appear across multiple platforms for a single user, often seamlessly. That pair of shoes you had in your shopping cart while browsing your favorite online store? You might see the same advertisement pop up on the side of your Facebook page or as a banner across a blog you frequent.
The Media Equivalent of the Football Team Captain
So where does the role of video fall in mobile media spending? As
it turns out, spending for video and mobile go hand-in-hand. According to a poll from the Interactive Advertising Bureau to 360 in-house and agency marketers, about 63 percent plan to spend more on mobile video ads. Marketers spent $4.2 billion on video in 2015 alone, up 30 percent from last year. In fact, the US digital video advertising market is on track to double by 2019. Brands have caught onto this trend, with big names like Amazon and Target rolling out mobile video campaigns on Facebook, Instagram and YouTube. It’s engaging, interactive and fun — we are being fed information while being simultaneously entertained and forming a bond with brands — it’s a win-win.
What does this all mean? There’s a clear relationship between digital and mobile spending — as the former increases, so does the latter, showing no signs of slowing down. Video is also along for the ride, changing the way we interact with brands. As the courtship between video and mobile continues, it begs the question: will traditional advertising such as print stand a chance once the excitement has fizzled?