Hint: it’s leading the pack when it comes to digital ads.
Digital advertising as a whole is growing fast, but no segment of it is growing at a speedier pace than mobile video advertising.
A new eMarketer report found that it’s the fastest-growing digital ad format, and is set to grow more than 70 percent during 2015. The $2.62 billion it’s expected to hit will be more than a third of the $7.77 billion total that U.S. marketers are estimated to spend on digital video advertising this year.
It should come as no surprise that mobile video advertising is on the rise– we recently noted that mobile video ads lead to an average of five times more engagement than standard banner ads.
eMarketer also noted that video viewers are spending more and more of their time using smartphones and tablets– according to a Millward Brown study, screen time on mobile devices is now even higher than television screen time in the U.S.
All of this is particularly worth discussing in the automotive world, since a study by IAB and Prosper Insights found that auto intenders are more likely to own smartphones and tablets than the the typical adult, more likely to stream digital video, and even more likely to watch digital video ads before streaming video programs than the rest of the population.
Your dealership’s customers are spending more and more time on their mobile devices, whether they are streaming video or shopping for their next car. Now is a good time to consider investing some of your marketing budget in mobile video, and to reach potential car buyers where they’re spending their time.
The Force Marketing team can help get you set up with a digital video advertising campaign as part of your data-driven multi-channel marketing strategy. Contact us today to find out more!