/// The Future of Advertising… The Opportunity is Now
This week, I spoke at Advertising Week Europe in London, attended by more than 200 advertisers and marketers.
Along with my fellow UK mobile Chiefs Guy Lawrence and Ronan Dunne, we discussed our new joint venture WEVE – the company we set up to kick-start the mobile advertising, marketing and payments market.
It’s an exciting venture – exciting for us as operators, exciting for the advertising industry, exciting for merchants, and exciting for customers, who I believe will embrace a future that delivers more personal, relevant, creative and sophisticated marketing.
With the launch of our new 4G service, we’re already seeing that services delivered through superfast networks are changing the way people and industries think about their mobile device.
We’re seeing a huge uptake with service such as video seeing a dramatic increase in usage. Video usage makes up 25% of our customer’s 4G data use, and location-based services are also becoming a bigger part.
It shows that customers are thinking of their phones and devices for more than talk and text and basic browsing. It means that the market is there and is willing to do more with their mobiles than ever before.
That’s why the time is right for WEVE. We have an excited and willing customer base; an advertising industry that is looking for dynamic new ways to market products and opportunities to customers, and a bunch of forward-thinking companies who are coming together to create a single, consistent platform that will drive this market.
To properly understand the potential of the mobile advertising and marketing sector and to see the potential of WEVE, you have to take a global look.
What we are seeing across the world is a rise in acceptance and even an appetite for mobile advertising. As early as 2010 in Germany research showed that 13% of users responded to mobile advertising and half of them actually bought something. That’s significantly better than traditional Direct Marketing industry results, and this was just at the start of the mobile advertising revolution.
Research predicts substantial growth in the mobile advertising sector over the next four years – the latest Gartner figures predict a 19% increase in mobile advertising revenue worldwide this year alone to a total of $11.4 billion, rising to $24.5 billion by 2016.
The market is there. WEVE has launched an opted-in base of 15 million UK consumers across all three shareholders and this volume is rising by the day. The opportunity is now. The key is to ensure that mobile advertising draws on the creative opportunities that mobile screens and superfast networks provide and, critically, to ensure it is never intrusive, never unwanted and always relevant.
This exciting new world of personal advertising and mobile instant payments poses big questions around data security and trust. But get that right – which WEVE will – and the opportunities for driving creativity, economic growth, and customer satisfaction are huge.
LinkedIn – Olaf Swantee, CEO at EE