The massive online marketplace is now getting ready to enter into smartphone advertising in a whole new way.
A new mobile ad network from eBay is slated to launch within the last quarter of this year, giving marketers the opportunity to place their messages within the company’s app.
This is going to provide marketing firms with an opportunity to reach a tremendous number of consumers.
It is estimated that there are around 4.6 million people that use eBay’s mobile app every day. The ability to place a mobile ad in front of those consumers could present a considerable opportunity to advertisers. According to eBay on a new page that it has created on its own website, “For the first time, we’re giving you the opportunity to connect with eBay users throughout their entire shopping journey.”
These mobile ad placements will reach consumers right when they are searching for and buying products.
According to the company’s own stats, users of the eBay mobile app spend an average of 150 minutes on that application every month. Comparatively, the application of the closest competitor (which was not identified on the site) saw only 47 minutes of use in the average month.
The website stated that advertisers will be able to place their ads to be displayed cross-channel, including a range of different mobile devices such as tablets and smartphones. In order to be able to place the advertisements, eBay is working with Triad Retail Media, which is a firm based in St. Petersburg, Florida.
This new network is designed to help marketers to be able to improve the targeting of their ads as the eBay app requires its users to log in, which means that the app is able to track the behavior of the user within that app. This helps the company to be able to ensure that the mobile ad options selected for a given user are likely to be relevant to that individual. This, according to the head of display advertising at eBay, Stephen Howard-Sarin. He explained that “We know what these people bought, what they looked for, what they want to buy,” and that “We know exactly who the users are, so we know that the targeting will be relevant.”
Rakuten launches new global investment fund managed by Rakuten Ventures
Rakuten, one of Japan’s largest e-commerce organizations, has launched a new global investment fund that will focus on the development of startups in Israel, the United States, and in the Asian Pacific region. The new fund will be based in Singapore, but will be managed by Rakuten Ventures and has more than $100 million at its disposal. The fund will seek to invest in startups that have ambitious goals in the mobile space, particularly those interested in mobile commerce.
Rakuten’s investments in Asia may continue to favor mobile companies
Rakuten has not yet announced which companies it is seeking to invest in but may do so in the near future. The fund is not meant to focus specifically on companies involved in the mobile commerce space, but Rakuten’s investments in Southeast Asia have favored these companies in the past. Mobile commerce has become quite prominent throughout Asia, largely due to the growing adoption of mobile technology. Consumers are becoming mobile-centric and, as such, the demand for mobile services has begun to rise dramatically throughout the region.
Company aims to compete with Amazon and others as it begins to expand
Over the past few years, Rakuten has been positioning itself to compete on a global level. The company has found major success in Japan, but intends to enter into other markets in order to take advantage of the growing popularity of mobile and e-commerce. As Rakuten begins expanding, it will have to compete with larger, well established companies, like Amazon and eBay. In order to compete effectively, Rakuten has been making strategic acquisition throughout the mobile space, hoping to bolster its tools and provide better services to new consumers.
Mobile commerce continues to grow among consumers
Mobile commerce is becoming one of the primary ways for people to shop online for products that they are interested in. People are also beginning to use their mobile devices to manage their finances more effectively, taking advantage of new mobile applications being offered by their banks. Companies like Rakuten see a great deal of promise in mobile commerce because of its convenient nature and how it appeals to consumers.
