According to the Mobile Marketing Association, 2014 has begun a tipping year for brands and agencies to seriously start thinking about mobile in their marketing strategy. Globally ad spend jumped by 105% in 2013, and is predicted to climb another 75% this year for a total of $31.5 billion.
The biggest drawback has been marketers getting the education needed for a successful mobile marketing and advertising campaign. It’s a totally new media channel that requires simplification, engagement, and quick response.
Below are a few tips to help marketers get started with their mobile advertising campaign.
Define key metrics
There are a number of different ways to track results depending on the type of campaign the business chooses to run. Below are a few examples of different campaigns with different forms of tracking.
- CPI – Cost Per Install or Pay Per Download: If a brand is promoting an app to be downloaded they should look for a pay per download (PPD) partner. This way the advertiser is not paying for banner impressions that were not clicked on, they are only paying if in fact the app was downloaded. And they should take it even a step further and look to those companies that can measure app events so you are driving installs that are creating usage of your app or creating a stronger (LTV) lifetime value.
- Cost Per Million/Thousand: If a brand is looking to do an advertising program to drive branding they should be focused on a cost per million (CPM) or cost per thousand (CPT) program and utilize rich media that can have a number of different marketing tactics within the ad unit such as video, product offerings, new locations, etc.
- Cost Per Click: The cost per click (CPC) model can be used if the advertiser has very strict ROI metrics to hit such as cost per new customer or cost per new lead. Using CPC programs allows the advertiser to pay only for the click that led them to a landing page encouraging the user to fill in information.
- Cost Per Acquisition: The cost per acquisition (CPA) model is used to measure actions and pay on those actions. Examples of this include an opt-in to your SMS/e-mail database, a call to your call center or and entry into a contest. Using CPA programs allows the advertiser to pay for specific actions.
Beyond the Action
These buying methods are common vernacular in the business. However they may drive immediate performance results but the key is driving engagement and being able to make attribution based on those results. A lot of media planners are already all over this. Driving clicks or installs are great but the driving better life time value is the long term recipe for success with any type of advertising – especially mobile advertising. We always look beyond the click to help our advertisers reach their goals and to provide a better performing campaign.
Mobile is Key
Mobile has fundamentally changed the way businesses engage with consumers through mobile marketing and advertising. Therefore businesses should have a mobile first strategy vs. using other mediums. In combination with other mediums to help achieve their global marketing objectives.
The barrier to entry in to mobile advertising is low in comparison to TV and print ads where the content quickly becomes obsolete. Digital is an ideal channel for small businesses because creative and calls to action can be changed on the fly. The cost is minimal in comparison to traditional marketing channels. Another advantage to mobile is the advertiser has access to data on the back end to optimize campaigns along the way and build upon the data collected to apply it to future mobile campaigns. These interactions can be used to better re-target customers. The best thing about mobile is the ability to have at the very moment targeting: right time, right place and right device.
Effective uses of mobile advertising
For branding purposes, video ads and pre-roll work extremely well in taking the video assets you have already produced and use them on smartphones and tablets. With interstitials businesses can engage the user in between content with a large piece of real estate to look at. Both of these ad units are considered rich media and can have a number of different tabs on which to launch a video, product information, etc. One should consider using both at the beginning of a campaign and then optimize as to which ad unit is best performing against the needed KPI’s.
With Hipcricket it is very easy to create mobile ads because the company offers the only full service end-to-end mobile marketing and advertising solution. This enables businesses to quickly plan, create, test, deploy, monitor, measure and optimize mobile marketing and advertising programs throughout the campaign lifecycle across all mobile channels. Hipcricket can then take the assets the advertiser has and help build out the creative to support the brand and overall campaign goals.
At the end of the day, the mobile phone has become one with the user – think about it – the mobile device is often the first thing we look at in the morning and the last thing before bed. It is highly personal and a user rarely changes their cell phone number. The smartphone is very much used on the go and the tablet is becoming that device with a lean back approach albeit now at the expense of the desktop.