ADOTAS – Mobile advertising is becoming an important component of the marketing mix of companies, local and global, thanks to the rapid penetration of smartphones and tablets. This article elaborates on how mobile advertisers can take cues from online social conversations and use them to gain competitive advantage.
Correlation Between Advertising Impressions, Market Share and Social Data
At a platform-level like Android or iPhone, Share of Voice is seen to have a high correlation to the Market Share as well as to the share of Advertising Impressions. However, at an individual handset-level, social media data can be more predictive than other sources of data.
For example, HTC Thunderbolt was seen having significant buzz in the social media even 30 days before its launch. From the month of its release, it had stayed at the #1 position as the smartphone with the highest Share of Voice. In the earnings reports of HTC, Thunderbolt was announced as one of the most shipped models that quarter alongside newer smartphones like HTC Sensation and HTC Chacha. HTC Thunderbolt is also seen to be one of the Top 20 Smartphones ranked by advertising impressions.
Thus, advertisers who listen and analyze social media conversations can have an unfair advantage over their competitors by being quick to market.
Choosing the Right Mobile Advertising Mix
Advertisers and advertising agencies can also make use of social media in many ways — such as choosing the platform that matches their positioning and target audience or evaluating how a particular model’s browsing experience affects the ROI of their advertising campaigns.
Advertisers can also decide on which of the media is used most for what kind of conversations. For example, Twitter may be dominating most of smartphones and tablet conversations but knowing the next 10-20 media is as important to decide the right place to advertise.
Measuring Performance of Advertising
Social media is a good indicator of measuring performance of advertising investments sometimes directly and sometimes indirectly. There are many ways advertisers can look for clues such as:
Is our ad being mentioned and so remembered by prospects/customers?
Is our share of voice going up or down or staying constant after an ad campaign?
Is the net perception of the brand and/or particular product going up or down or staying the same after an ad campaign?
The possibilities of using social conversations for better advertising are endless once we begin to listen.
Social media is both a leading indicator that can help guide the right message as well as a performance indicator for the mobile advertisers. If used correctly, it can provide competitive advantage to advertisers who listen and analyze social media data.