Mobile advertising is a fast-growing marketing medium. Over the past year, advertising on mobile devices has grown by more than 60%, and the outlook for 2013 is equally as strong, if not stronger.
Why Is Mobile Advertising On The Rise (The Psychological Reason)
One of the main reasons mobile advertising is on the rise is increased use of rich media versus banner ads. Industry experts have found that consumers stay engaged for a longer period of time and produce a higher click through rate (CTR) in mobile advertising with video and picture ads. This holds true for not only mobile phones, but also for tablets. With the rise of the number of tablets entering the marketplace, participants in mobile advertising recognize the need to include tablets as a growing and thriving medium.
But with all the different types of mobile advertising participants, some industry experts believe the ecosystem needs to start consolidating in 2013 to keep advertising on a trajectory toward market growth.
According to those with a firm grasp on the mobile scene, consolidating video, analytics, virtual currency, in-app payments, rich media, LBS, mediation and demand-side platforms, along with other monetization avenues for mobile advertising, is something that needs to happen in order to keep things moving forward.
Mobile Advertising Legalities To Consider
If you’re just sticking your toe into the sea of mobile advertising for the first time, or have been fully immersed for quite some time, there are some things you’ll want to consider whether the mobile advertising marketplace consolidates or not.
In order to have a truly profitable campaign (meaning: you don’t want arouse a legal tussle), you’ll want to know the potential pitfalls that can, and do, arise from any type of advertising campaign — in print, online, or via mobile devices.
- Do you know how to navigate FTC and FCC regulations?
- Do you know what the CARD Act is, and how it can affect your mobile campaign?
- What about the Gramm-Leach Bliley Act? Or the host of other banking regulations regarding mobile payments?
The above are just a few examples of the legal issues that mobile marketers need to consider before pushing all of your chips to the center of the table.
Contact A Mobile Advertising Attorney
If you’re ready to go “all in” by using mobile ads, make sure you have the advice of an attorney experienced in mobile law and mobile advertising. A mobile law attorney who understands and has experience with getting the most out of an advertising campaign’s CPM and generating a higher CTR is much better suited to meet your needs than an attorney that may confuse CPM and CTR with the make and model of a luxury car.