Many businesses and brands would like to advertise on mobile phones, but they simply don’t know how to do it. Bob Bentz of ATS Mobile gives a primer for novices on how to take advantage of the bargains that are currently available in the mobile ad world.
Garage Sale Rates
Statistics show that while 20% of overall time spent with media is on the mobile phone, mobile advertising is garnering just 4% of the overall ad budget. In fact, it is, by far, the most under-utilized advertising medium available today.
That means there are more sellers than buyers and if you remember back to high school economics, that means bargains for advertisers.
How to Buy Mobile
- Cost Per Thousand --The simplest way to purchase mobile advertising is on a CPM basis. In this scenario, you will pay a set amount for every 1000 exposures on mobile phones. Expect to pay about $3.00 per thousand exposures for general advertising. The more narrow your targeting, the higher the cost per thousand.
- Cost Per Click – Buying mobile on a CPC basis will enable you to pay just when somebody clicks on your advertisement. Of course, many of those clicks will be “fat finger” clicks where the consumer didn’t really intend to touch your advertisement. But, in our experience, you will almost always gain greater exposure on a CPC basis than on a CPM basis.
- Cost Per Call – Not all advertising networks will allow for a Cost Per Call payment method, but this is also an option if your goal is to receive inbound calls. On a Cost Per Call, the consumer will touch the add, then have to touch the call button to make the call to your business.
Never has there been a medium that allows for better pinpoint targeting of consumers than with mobile ad buying and. Mobile ad buying enables the advertiser to precisely target the audience through a variety of demographic and psychographic characteristics.
Here are some of the variables that you can choose from in determining how to best target your audience:
- Specific days and hours – Enables you to reach customers when they are most likely to buy — perhaps, just before the lunch or dinner hours.
- Where to show your ads – Apps or mobile websites.
- Devices – Choose whether you want tablets and smartphones. Do you want to buy just the more upscale iPhones or just Androids, or both?
- Target countries
- Carriers – Want to reach an urban audience? T-Mobile might be your best bet.
- Wifi – Target just those on wifi services.
- Publishers – Show your ads on general interest or age groupings, or choose specific publishers that best serve your market.
Location, Location, Location
One of the best things about mobile advertising is being able to target those that are nearby to your business. This is known as "geo-targeting" or "geo-fencing." A restaurant, for example, could target only those people within a 1-mile radius of its location; this is geo-targeting. A yogurt shop could just target those living on the college campus nearby; this would be geo-fencing.
Test, Test, Test
Of course, it's difficult to get anybody's attention through the din of advertising that we all experience every day. That's why if your advertisement just stands there, nobody may in fact notice it. Rich media plays a big part in getting a prospect's attention on the small screen of the mobile phone. If you thought there was banner blindness on desktop sites, wait until your ad is shrunk to fit the small screen of the feature phone!
Mobile advertising, when not used simply as brand building, can be an effective direct response medium. A mobile advertiser should be able to get immediate results from its efforts. Analyze those stats every week in an effort to increase the click through rate, but more importantly to increase sales. Because, at the end of the day, the mobile ad buy won't be judged on your click through rate, but how much additional dollars your mobile ad buy brought to the company.