Candidates looking for media jobs may do well to consider the mobile advertising industry if they’re after a bright future. That’s certainly one of the implications of recent comments by Foursquare CRO Stephen Rosenblatt, who believes that advertisers who don’t embrace the burgeoning uptake of mobile devices are going to fall very far behind.
A mobile explosion
With Gartner predicting that global revenue from mobile advertising will leap from $9.6 billion in 2012 to $24.5 billion by 2016, Rosenblatt clearly has a point. Facebook’s recent experiences come to mind: by Q4 last year, the number of people logging on from their mobile phones had outstripped the number doing so from a laptop. Mobile advertising now accounts for 23 per cent of its ad revenue.
Mobile phones advertising, it seems, is where to go for media jobs, as more companies see its potential. He said, “My rule of thumb is that in 2013, if you’re a media company, if you’re a publisher, and about 50 percent of your overall web traffic is not coming from mobile devices, you’re in trouble.”
Foursquare has developed enormous expertise in the mobile ad space over the years, Rosenblatt explains, and knows how to capitalize on mobile’s key advantages: the capacity to connect consumers to advertisers both physically and emotionally by deftly deploying two main drivers – location and context.
From minor niche to giant market
Consumers will more likely visit a venue or buy a product if they’re given the tools to find what they’re looking for “at their fingertips”, he says. One way of converting an ad viewer into a buying customer is Foursquare’s “Check In” feature. Users are offered discounts for restaurants or stores but can only redeem them after “checking in” to the Foursquare app.
Another recent innovation is the “Promoted Updates” platform: users receive notifications about upcoming deals, but they also get information on any new products the businesses partnering with Foursquare are offering. The businesses pay Foursquare for promoting them in their explore tab.
This unintrusive but interactive model has been a major success for the agency, advertising to consumers in a way which is “organic to their experience”, Rosenblatt revealed.
Mobile advertising is no longer a minor niche; and it looks set to create a good many new media jobs over the next few years.