When Facebook announced its second quarter earnings on July 24, 2014, the stock hit an all-time high as the company’s growth in mobile advertising helped blow away analysts’ expectations. Facebook stated revenue of $2.9 billion with total advertising revenue of nearly $2.7 billion, a 67% increase versus year-ago. Mobile advertising pumped up this growth with an increase of 151% and now represents 62% of Facebook’s overall advertising revenue. The stock surge added another $1.6 billion to CEO Mark Zuckerberg’s already deep pockets.
While I can’t promise these kinds of riches, I can assure you that it makes sense to explore mobile media as a way to grow your business.Why? Chances are you’re one of the countless Americans who use their mobile device several times throughout the day, every day. Many of you have become so attached to it that you are likely cutting into traditional TV time as you play Hollywood mogul and watch your favorite shows when and where you want to. Consider the following January 2014 figures numbers from the Pew Research Center Internet Project: 90% of American adults have a cellphone, 53% have a smartphone, and 42% have a tablet computer. Clearly, the way that Americans consume media and interact with their world has undergone a dramatic change. Companies who don’t change along with it may be threatened with their own extinction.
In order to take your companies sales to the next level, it is important to evaluate your mobile media efforts to gain an understanding of how your consumers are using their devices. Industry statistics indicate that 73% of Facebook users access the service through a mobile device. For Twitter, the percentage is slightly higher at 75%. Mobile activity on YouTube accounts for roughly 40% of video play time worldwide.
Don’t for a second think that only products appealing to millenials and a younger more interactive audience can benefit from mobile media. SLANT is currently running a Facebook promotion for BERNINA, a well-established name in the sewing industry, which is looking to generate buzz and awareness for the BERNINA 350 sewing machine. As part of the program, the company chose ten top designers to participate in its BERNINA Faceplate Face-off contest. Designers were tasked with creating a custom faceplate for the BERNINA 350 sewing machine. The designers’ faceplates were posted on a Facebook application where consumers were able to vote for their favorite design on a daily basis. This type of consistent consumer engagement via mobile promotions sews stronger bonds between you and your target audience.
Need more proof that mobile media is worth checking out? Google reports that 84% of smartphone owners use their devices while shopping in a traditional store. This creates an unprecedented opportunity to leverage effective mobile marketing that is personalized enough to meet consumers’ needs and is delivered when they need it most. Your brand will be top of mind during the consumer’s moment of purchase decision, increasing the chances of snagging a sale. Just as important, your name will be top of mind when it is time for annual bonuses to be given out.