Mobile usage is growing by the day across the globe. With the advent of smartphones users are performing a plethora of activities on their phones such as browsing the Internet, reading online news and enjoying games. If you are an advertiser this is a huge market for you and something you must tap on considering the reach of this platform. In the coming years this market is expected to grow further. However most people have a vague idea about mobile advertisement and how it works. In this article we shall take deep look into the work of mobile marketing and understand its fundamentals. Before we understand the different models of mobile advertising let us take a look at the advantages of advertising on this medium.
Why Advertise on Mobiles?
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Reach
The greatest advantage of mobile marketing is the reach that it offers. You won’t find another medium that offers you similar reach and in a personalized manner. Small businesses are fast realizing the potential of mobile advertisement in reaching their customers. It allows them to connect with their customers in a highly personalized manner.
Cost Effective
Mobile marketing is a high cost effective form of marketing. You can market your brand among a large target audience with small amount of money. There are also different revenue models that you can choose from.
App Advantage
This is generation of app based phones and this serves as great marketing platform. If a user downloads your app and installs on his/her phone you have created a permanent channel to advertise your products and services from time to time.
Understanding the Network and Advertisers
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You might think mobile advertising to be new but it has been going on for several years. It is a well-established industry where different networks cater to varying demands of the customers. The networks are primarily divided into four categories. On the top of the pyramid are Global networks such as Google who offer advertisement solutions to a global clientele. Next are the Regional Mobile Advertising Networks that cater to a country or a region. The third type or network is the Local Mobile Ad Networks that specialize in a small local area. At the bottom of the pyramid are the Specialized Mobile Ad Networks that cater to some niche genre of advertisement.
Cost Per Action Model
All of us are aware of the CPC (cost per click) program when it comes to advertising over the Internet. The world of mobile advertisement has borrowed the same model and it is known as CPA (cost per action or cost per acquisition) advertising. Here the network would make use of various means of advertisement such as SMS, advertisement on mobile sites or send Push Messages to the users. The payout works only when the recipient responds to it in the form of clicking the ad or calling back the advertisers. This works out as a great model especially for the small business as they can easily manage their advertisement budgets.
Using a Demand Side Platform
It might so happen that you need to manage multiple ad exchange and data exchange for your advertisement campaign. You can easily do this by making use of a Mobile Demand Side Platform popularly known as a Mobile DSP. A DSP makes it easy for you to keep track of multiple campaigns running on different networks and know their rate of success at any point of time. This is a wonderful tool and a must if you are running an advertising campaign on mobile phones.
Rich Media Advertisement
This is another booming mobile advertisement model where advertisers use rich media in the form of images, videos and animations to target thee customers. With the networks being faster and smartphones replacing the older generations of handsets this model is gaining popularity. It stresses on making the advertisement campaign very interactive that raises an urge in the mind of the recipient to make use of the product or service being advertised.
Virtual Currency Works
For many years we have been used to virtual currencies on the gaming sites where on completion of a stage or certain stages the player is rewarded with virtual currency. Similar model is now being adopted in mobile advertisement where many businesses are offering free coupons to the customers to shop online for their products. This tactics has worked as a great crowd puller.
Mobile marketing is the need of the hour for any business that is planning to stay ahead of the customers. Globally most users spend less time on their desktops and laptops and more time on smartphones and tablets. As a business owner you must tap on this growing advertisement market and the above mentioned ideas will guide you through the initial phase.
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