Will the Future of Mobile Advertising Impact Your Business?BY: The Young Entrepreneur Council | July 7, 2012
What’s one prediction you have for mobile advertising that will impact your business?
The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: How to Rebuild Our Economy and Put Young Americans Back to Work (for Good), a book of 30+ proven solutions to help end youth unemployment.
1. Kiip Is Key
I think Kiip is headed in the right direction of mobile advertising. Banners aren’t effective on PC’s or mobile, so Kiip’s innovative mobile advertising through rewards is going to make a huge impact on businesses.
- Ben Lang, EpicLaunch
2. Time and Place
The trend in mobile advertising will be the combination of geographic and time specificity. Great startups like ThinkNear are working on how to enable businesses to tap into the real-time and space possibilities of advertising on mobile devices. That trend will greatly affect any brick-and-mortar brands as it opens up new possibilities for targeting consumers.
- Doreen Bloch, Poshly Inc.
3. Big Moneymaker Ahead!
As anyone who has attempted to build a business based on mobile advertising knows, it is difficult to generate significant revenue because CPMs are so low. Mobile content consumption is skyrocketing but the advertising dollars are lagging. That will change. Japan and Korea are consistently 2-3 years ahead of the US and have seen huge mobile revenue growth. From that lens, the future looks bright.
- Emerson Spartz, Spartz Media
4. Figure Out Privacy
Mobile advertising is exciting — the thought that we can send relevant ads to potential customers based on where they are is even more so. But we still haven’t figured out what the privacy constraints for mobile data really have to be. Until we get a good handle on it, every new app is going to struggle with the perception that it has access to too much.
- Thursday Bram, Hyper Modern Consulting
5. The Future Utility
I look forward to seeing the development of high engagement mobile ads that provide value for the users, and also help the brand name at the same time, like what JackThreads is doing. Users don’t care about banner ads on their mobile devices anymore. Brands need to understand their consumers and create ads that will help them in purchasing decisions or understanding their products. It’s becoming important to make mobile advertising a utility.
- Bobby Emamian, Prolific Interactive
6. Watch That Price Tag
Some big brands are really starting to pay attention to mobile advertising. As these bigger Fortune 500 companies start to really hone in on mobile, advertising prices are going to continue to go up. Mobile advertising remains a large portion of our operating budget and will continue to increase within the next term.
- Justin Beck, PerBlue
7. Mobile Searches Dominate
In the coming years, we’ll see mobile have a tremendous impact on search. Searches for almost everything will be done through a mobile device, discovered locally and delivered locally. Staying ahead of the curve on this will aid in better search results.
- Brent Beshore, AdVentures
8. More Mobile-Friendly Technology
People will use mobile devices to listen to content much more than before. This means that businesses will need to have mobile-friendly audio content ready for each campaign to have the impact it needs to.
- Alexander Torrenegra, Voice123/VoiceBunny, BookingMarkets, inBedme, Torrenegra Labs, and others
9. It’s Time to Adapt!
Mobile will be more important to certain businesses than others. But regardless of your business, if you rely on online advertising at all, you need to figure out how you can succeed in mobile or you are limiting your opportunity. Online advertising, in general, will continue to increase, but the amount of time people access the Internet from their mobile devices continues to take up a greater portion of their overall time online. So don’t ignore mobile if you rely on online advertising.
- Brant Bukowsky, Veterans United Home Loans
10. More Purchasing Power
It will increase our business; with more people being able to make purchases on their mobile devices, we should see an increase in shipping volume. Mobile advertising will enable people to do even more with one click, so all businesses should see an impact.
- Jordan Guernsey, Molding Box