240 BILLION Reasons You Should Be Thinking About Mobile Advertising First
So, why is a “mobile mindset” so important?
Well, according to App Annie’s latest State of Mobile report, mobile engagement soared in 2020 as consumers across generations spent more time on the channel during the coronavirus pandemic. The surge was reflected in marketing as mobile advertising spend grew 26% year-on-year to $240 billion. That is BILLION with a “B”.
While last year produced unique circumstances that drove more people to mobile, the channel’s upward trajectory could continue as App Annie predicts mobile ad spend will top $290 billion in 2021. So, why is this so important? Keep reading…
Mobile engagement has seen a clear spike since the pandemic’s early days, with millions turning to their smartphones and other devices to stay connected and entertained while stuck at home. Still, App Annie’s latest report illustrates how quickly marketers have shifted their investments to mobile while grappling with budgetary constraints brought on by the health crisis.
Social media has also emerged as a clear winner of the pandemic, with time spent per user spiking up to 325% YoY in 2020, according to App Annie. However, newcomer apps within the category have shifted its balance of power. Video-sharing platform TikTok — the most-downloaded app of 2020 — is projected to reach 1.2 billion monthly active users in 2021 as it sustains momentum that’s bested more established rivals like Facebook. App Annie noted that TikTok commanded “significant per-user engagement,” landing in the top-five apps measured by time spent. Growth in mobile engagement was not limited to the younger cohorts typically painted as smartphone-addled. Gen X and baby boomers alike spent 30% more time on their favorite apps last year, App Annie found.
So, what does all this mean?
Simply put. Mobile Advertising grew so much last year because of one simple thing… More time spent on our phones = more mobile advertising opportunities. The data doesn’t lie and businesses must understand where their fans and customers are. Furthermore, businesses also have to understand the best way to communicate with them. If mobile is clearly their preferred format, it’s crucial to have a “mobile-first mindset” to truly connect with customers
If your business isn’t thinking mobile first, then we recommend you start now because there are 240 BILLION reasons that you should.
A form of this article was seen on Marketing Dive