Rapid rise: Mobile advertising takes off
If you haven't adjusted your content marketing strategy to incorporate mobile advertising and other useful tools such as apps, then now is the time to get started.
Businesses need to cater their content to the growing group of smartphone and tablet users, as these people access the information on-the-go. This may mean you have to look at ways of optimising this content, writing more concise blog posts or using more images in your social media updates to keep this audience engaged.
A new report released by the Interactive Advertising Bureau (IAB) and compiled by PricewaterhouseCoopers (Pwc) revealed that all categories of online advertising expenditure achieved "double digit annual growth".
The total online advertising expenditure for the financial year ending June 30 2012 was $3.6 billion. Over half (53.8 per cent) of this was attributed to Search and Directories, another 26.5 per cent to General Display and the remaining 19.7 per cent to Classifieds.
The online advertising expenditure – in the six months ended June 30 2013 – also exceeded free-to-air TV advertising revenues for the first time.
Another notable finding from the IAB Online Advertising Expenditure Report was that mobile advertising growth "outpaced" the other formats. Online advertising on smartphones has substantially grown 161.3 per cent year-on-year in the June 2013 quarter. This has increased the total mobile advertising market from $17.6 million in the June 2012 quarter to $45.9 million this year.
Tablets took the larger share of mobile advertising expenditure with 52.8 per cent, with smartphones taking in the remaining 47.2 per cent.
IAB Australia Director of Research Gai Le Roy commented that achieving $3.6 billion in online advertising revenue in a challenging advertising environment is a "great result for the industry".
"As expected mobile advertising was the star performer as advertisers move their budgets to start matching consumer behaviour and video advertising growth continues to impress as marketers target the 13 million Australians streaming video content each month," Ms Le Roy said.
Posted by April Revake.