Written By: Liz Rogers
In our last blog post we mentioned the extensive research compiled by Flurry that found that iOS and Android smart devices have experienced an uptake rate that doubles in comparison to the adoption of the Internet and PC. Advertisers are taking notice of this booming market and continuing to increase spending towards mobile advertising dollars. A recent IAB study reported that 63% of top brand marketers have increased their mobile advertising spending over the last two years, and that 72% plan to increase advertising spending over the next two years.
There is still a large gap, however, that needs to be filled for advertising spending in the mobile market. In the following graph it shows the allocation of advertising dollars in various markets, and it shows the time spent by consumers in each market. Alarmingly, 23% of consumers spend their time in the mobile market, yet only 1% of advertising dollars are dedicated to that market. In contrast, only 6% of consumers spend their time reading print, but 29% of advertising dollars were spent in this market for 2011. As shocking as it is to see how much over-spending is allotted for print advertising, the more shocking is the severe under-spending in mobile.
Considering how quickly the mobile app platform has emerged in such a short period of time, it gives some reasoning behind the confusion for advertisers. Flurry sites in a recent blog post that mobile advertising is slowly growing because the market is without sophisticated platform tools that can grasp audience measurement while segmenting publics. Parallel 6’s Captive Reach Platform is prepared to address this concern.
Captive Reach is a Mobile Enterprise Platform that allows advertisers to capture and quickly analyze in near real time competitive, consumer, social and geographic insights that help advertisers optimize and increase their market basket. Captive Reach allows advertisers to know who customers are, where they’re going and who they’re talking to. With Captive Reach, advertisers can locate customers and utilize the platform’s push notification feature to share deals with a unique audience and allow the consumer to purchase at the palm of their hand. View some of our Case Studies to see how Captive Reach has benefited our clients. To find out how Captive Reach can benefit your company or next advertising campaign, contact us to schedule a meeting.