Future of Mobile Advertising
We’ve all read about the data-privacy outcry, especially in the case of Jay-Z and Samsung, but when we sit back and analyze the possibilities of such a world, is this really a bad thing? I would be the first one to admit that I have a problem and use my cell phone WAY too much. The amount of data my cell phone has on me would probably make me bow down to it and abide by its every command. I’m a strong believer in the phrase “Context is King” and I think the rise of data analytics in marketing has only made things better. Let’s take a look at this dynamic from two different perspectives: the Marketer and the Consumer.
The Marketer’s Perspective
Will someone please collectively pinch all the marketers out there and let them know they’re not dreaming? Marketers have always been trying to get inside the head of their consumer and understand what drives them and where they spend their time. Mobile data does just that. For a large amount of people, their cell phone is an extension of themselves. The ability to optimize your marketing around people who are actually interested in your product or service is huge.
In my opinion, mobile advertising is the biggest thing since email marketing. I know some people who had email open-rates of 60-70% when email first came out. Can you imagine having a click-through-rate like this today? In email marketing this type of open-rate doesn’t exist anymore because the market is saturated with emails that lack “context”. This is why I think the future of mobile advertising is huge for marketing teams. Cell phone data provides marketers the insight they need on how to best connect with their consumers.
The Consumer’s Perspective
I know the idea of people having access to data about everything you do might make you vomit but this type of information will only make the advertisements you see more applicable to you. I think where we as consumers get annoyed with advertising is when it is completely irrelevant. If an advertisement pops up on my phone from my favorite NFL team about a 70% off sale, I’m probably going to be interested in it.
Thomas Goodwin thinks mobile advertising could play an even more powerful role in something he calls “Advertising as a service”. He believes this type of insight could lead to predictive advertising. For example, if you’re running late to a meeting a car service could send you a quick ad about where their closest available vehicles are and how soon they can get you to your next meeting.
I know it can be easy to focus on all the “bad” regarding mobile advertising, but is it really such a bad thing?