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Main Street Goes Mobile - 2011
Borrell Associates Inc, June 2011, Pages: 30
Main Street is embracing mobile marketing at a stunning rate. The adoption of the latest ‘new media' has outpaced the rate that local businesses warmed up to cable advertising in the 1980s or even Internet advertising a decade ago.
This 26-page report by Borrell Associates features 27 charts, graphs and illustrations depicting the various components of mobile marketing and forecasting its growth to 2016. Local advertisers are on track to spend nearly $800 million this year on mobile advertising and more than $400 million on mobile promotions, including contests, coupons and deals. Forecasts have those numbers roughly doubling every year for the next five. If that occurs, local mobile marketing expenditures would surpass $18 billion for advertising and $4 billion for promotions – more than Main Street businesses currently spend on traditional web-based advertising today.
The latest research points to a ‘mediamorphosis' nothing short of stunning:
- More than half of local businesses plan to engage in some type of mobile marketing this year. On average, they expect to devote more than 20% of their ad budgets to mobile initiatives. (Borrell Associates SMB survey, Q2 2011)
- The cannibalization rate — the rate that tablets chew into demand for laptop and desktop computers — will reach 29% this year and could remain above 20% in the years to follow. (Morgan Stanley)
- Tablet shipments are forecast to increase more than threefold this year, from 16 million to more than 55 million.
- The number of smartphones is expected to grow 41% this year, to 95 million units. By year's end, one-third of all cell phone users will own smartphones.
Charts in this report track the past and forecast growth for mobile devices, which include tablets, PDAs, smartphones and e-readers, showing how they are likely to surpass PCs in terms of household penetration within a few years. Breakouts are also provided for types of mobile marketing by local businesses, including how much they spend on SMS, mobile banners and email, paid search, and mobile video and audio advertising. Breakouts for promotional spending include proximity, sponsorships, coupons, loyalty programs, sampling and deals.
Sources for the data include Borrell's ongoing surveys of SMBs, as well as research from Morgan Stanley, Gartner, Exact Target and Borrell's proprietary database of ad spending for more than 24 million U.S. businesses.
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