Tag: mobile advertising budget

Even though the solutions currently available aren’t meeting expectations, marketers and brands are still spending.

Recent studies and reports are showing that while brands and companies aren’t yet entirely impressed with the tools that mobile marketing vendors have to offer, they are still raising the size of their budgets for this channel.

The B2B budgets geared toward mobile advertising and promotions will rise 11 percent in the next 6 months.

Moreover, when it comes to the mobile marketing budgets for the next full year, it is expected that there will be an increase of 17.5 percent, according to a VentureBeat Insight Report. That said, while this represents an exceptionally healthy growth in terms of budget size and predicted spending, the reports are still showing that companies are not yet sold on the types of tools that they have available to them through vendors in this category.

This recent mobile marketing data shows that there are considerable problems holding this channel back.

The solutions that companies are actually seeking simply are not yet available. Among the largest struggles that are holding B2B mobile advertising back have to do with a lack of integration and support in the overall marketing technology tools that they are already using on a regular basis. The report showed that nearly 40 percent of the respondents said that the primary problem had to do specifically with the marketing software tool makers.

The second most important problem was identified as being the lack of complete understanding of marketing professionals of the mobile sphere and how to best take advantage of what it has to offer. This is not a new discovery, as the channel has been evolving exceptionally rapidly despite the fact that it is still in a very young phase of its life.

Other struggles that are faced by those attempting to use mobile marketing include a lack of budget to dedicate to this channel. Surprisingly, there remained a group representing 15 percent of businesses that still don’t even believe that the channel is effective at all. This, despite the fact that the vast majority of brands are now either already using it or are planning to use it within the not too distant future.

While organizations are increasingly likely to have a smartphone ad strategy, levels still haven’t reached expectations.

According to a report that has now been issued by Oracle Marketing Cloud and Econsultancy, businesses are now more likely than ever before to have some type of strategy in place for the integration of mobile marketing into their overall promotions and advertising campaigns.

The report showed that while the acknowledgement of importance is there, the integration remains small.

The publication, entitled the “Cross-Channel Marketing Report 2014” showed that marketers and brands are continuing their transition from traditional channels toward digital and mobile marketing. However, in the United Kingdom, while it is clear that companies find that there is considerable importance in using those channels, there hasn’t been a tremendous focus made in terms of actually working them into a campaign.

It is believed that this will soon begin to pick up, as many companies are making their first mobile marketing moves in 2014.

The report showed that 20 percent of companies are now using mobile notifications and push alerts and that these, combined with messaging, mobile apps, and email are viewed by marketers as the areas in which they will best be able to achieve customer retention.

This aligned with a report that was published by the 2014 Internet Trends Report which focused on the market in the United States. This latest report used the same sources as the American one, only using data from the United Kingdom, instead. The U.K. figures showed that while mobile represents 20 percent of a consumer’s total time spent with media, it also represents only 7 percent of total ad spend.

When applied to an actual monetary value, this represents a gap that is worth an estimated £1.9 billion. The shortfall has been attributed to a greater mobile optimization and advertising activity market, in addition to actual ad spending. That said, this still represents a sizeable gap between the actual time spent by consumers and the amount of money spent by marketers.

Equally, though, among the brands and marketers surveyed, 75 percent said that they had some type of mobile marketing integration strategy in place for their campaigns, which represents a year over year growth of 16 percent.