[Marketing Report] Bob Koigi: The rise and rise of mobile advertising
The global digital marketing software market size was valued at $56.52 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030 according to a recent report by Grand View Research.
That growth has been attributed to the growing preference among individuals for mobile devices to obtain information on the go and subsequently the continued transition from desktop PCs to smartphones.
The growth can also be attributed to the proliferation of smartphones, which has triggered the consumption of digital media and is prompting marketers to push more online ads on social media and other digital platforms for a larger exposure and more visibility.
These findings have been bolstered by another research by StockApps.com that shows that the share of mobile in digital ad spending is expected to grow up to 70% in 2026. In 2021, the percentage of mobile ad spending was 60%.
As per the data, only 44% of all digital advertising targeted mobile consumers in 2017. Over the course of the nine years, the mobile share is expected to grow by 59%. But as advertising increasingly go digital, so do the threats.
The global ad fraud detection tools market for example is expected to grow from $ 252.92 million in 2021 to $ 762.89 million by 2028; it is estimated to grow at a compound annual growth rate, CAGR, of 17.1% during 2021-2028 according to a report by Research and Markets.
Due to the growing fraudulent activities on advertisements, many companies adopt advertising fraud detection/prevention tools for several benefits, such as optimizing spending on the advertisement, proactive monitoring of campaigns, and maximizing campaign return on investment (ROI).
Still on the advertising front, Kantar, the global data-driven analytics and brand consulting company, has announced its partnership with fuboTV Inc. the sports-first live TV streaming platform.
The partnership, leveraging Kantar’s flagship media effectiveness product Brand Lift Insights, allows advertisers and marketers running campaigns on fuboTV to better understand the effectiveness of their connected TV (CTV) advertising and benchmark their performance against that of their competitors.
And Targetspot recently announced the launch of Targetplay, the new Gaming, In-App and innovation division within Targetspot.
Targetplay is dedicated to building upon and growing the gaming and in-app advertising category within audio advertising. It will do this by maintaining and establishing partnerships with existing vendors like Audiomob, Odeeo and Aequus while investigating and building propriety technology where, and if, appropriate.
In other news, after initially launching to U.S. users last September, Meta is now rolling out Facebook Reels to over 150 countries globally to capitalise on the popularity of short-form video content.
Facebook Reels, which is part of Meta’s response to the threat of TikTok, allows creators to share short-form video content on Facebook or cross-post Reels from Instagram to help them reach a broader audience. Having initially launched in the US, the feature will now be rolling out globally.
Global digital agency Dept is the official communication partner of the Germany-based Farm-Food-Climate Challenge, an initiative of ProjectTogether. Dept, a certified B Corporation, is supporting the organisation on a pro-bono basis, creating and developing its visual identity and website.
ProjectTogether is a non-profit, social enterprise that empowers next-generation talent to bring innovative ideas to life.
The Interactive Advertising Bureau , IAB UK has collaborated with The Podcast Show with a view to celebrating the growth and popularity of podcasting, as well as supporting new creators that are helping shape the future of audio.
Finally Socialyse Paris, part of Havas Group, recently launched first narcotics anonymous group meeting in the metaverse.
Eight Narcotics Anonymous members came to discuss their addictions and their progress towards a drug-free life in an immersive experience.