Mobile Marketing Budgets
Marketers currently allocate less than one percent or none of their marketing
budget to Mobile advertising in Sri Lanka. However, with over one million smart phones and
over twenty million mobile phones in Sri Lanka, return on investment (ROI)
analysis of Mobile, shows that the optimised level of spend in Mobile
advertising for Sri Lanka marketers is well below
average.
Over the next 4 years, Mobile’s share of the media mix is projected to increase to over 10 percent based on growth in adoption of smartphones only.
It is safe to say, however, that the growth does not stop there. As with all
new media, more effective targeting, creative excellence, better ad units,
tighter industry standards, innovation in technology and other factors will all
contribute to increased spend and the further establishment of mobile in a
marketer’s mix.
Spend on Mobile varies based on the marketing goal and industry category.
Regardless of these variances, it’s clear that marketers are spending significantly
less than they should in Mobile and by settling for a sub-optimal media mix are
losing out on sales and profits.
Consumer media habits are rapidly changing – the penetration of mobile
smartphones has skyrocketed and it is clear that Mobile has proven to be
effective in successfully achieving a variety of marketing goals. Even though
these facts are indisputable, marketers have been slow to adjust and rebalance
their media mix to reflect consumers’ mobile-centric world. In fact, it is
appropriate to assert at this time that most marketers should significantly
increase their investment in Mobile advertising.
Mobile advertising (display, video, audio) should be at least a one
billion-rupee market in Sri Lanka. Global trends in Asia show marketers now
allocating as much as 5% of their marketing budgets on mobile. In sophisticated
markets, it is as much as 10% globally.
See more global market information at http://www.iab.net/research/industry_data_and_landscape/adrevenuereport
http://www.iab.net/about_the_iab/recent_press_releases/press_release_archive/press_release/pr-060313
Dhammika Dharmawardhane
