Since cell phones were released in 2006, mobile advertising has grown to a $64 billion a year industry. It’s projected that in just a couple of years, over half of all advertising dollars spent will be spent on mobile advertising. Considering less than $1 billion was spent on mobile advertising in 2006, that’s a pretty rapid growth rate.
Perhaps one way to account for this rapid growth, aside from the fact everyone and their 6 years old has a smart phone now, is the marked improvement in mobile advertising. When mobile advertisements first rolled out, they were banner ads that had been adapted from the standard web. Most people ignored them, and 38% of clicks, it was discovered, were accidental. They are not effective, and they have the lowest click through rate of any mobile advertising medium.
Now there are several ways to advertise on the mobile web. Interstitial ads are clearly distinguishable from their surroundings, but something like an app launch ad is highly effective. In fact, app launch ads can have three times the click through rate as a typical full page mobile web or app ad. Learn more about the rapid evolution of mobile advertising from this infographic.
Infographic and featured image courtesy of StartApp