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Why emerging markets will be crucial in 2014
According to eMarketer, digital will account for nearly a quarter of global advertising budgets in 2014. To keep up with the growing number of mobile phones worldwide and shifting preferences from desktop to mobile, marketers must increase their mobile spending - and understanding.
According to experts mobile spending will increase to $15 billion next year, a nearly 80% increase, as more brands move ad dollars into the mobile space. Emerging markets will be especially important for brands wanting to make more connections across the globe because those markets are growing at nearly twice the rate as here in the US or other developed countries.
This makes Mobile Strategy one of the most important strategies for brands in the new year.
"According to Upstream's research, Nigeria, Vietnam, Brazil and Cameroon that reached 223 million consumers, it's clear that there's no single marketing approach. Namely, messages that capture attention--"you have been selected"--tend to engage users in Brazil, whereas affirmative notes such as "congratulations" work better in Nigeria. Therefore, each emerging market demands a unique approach--so steer of clear of a one-size-fits-all strategy," said Vasileios Tziokas, Marketing Manager, Upstream.
Another trend to watch: incentivizing mobile marketing. Tziokas notes that offering prizes or other incentives is already a large feature for emerging market campaigns. Incentives, though, are not more important than timing.
"In mobile marketing--especially in emerging markets--timing is vital. To ensure that time is on your side, carefully note the tendencies of target audiences. For instance, before 9am in the morning is generally the optimal time to reach Vietnamese customers, and after 3pm in the afternoon is the time to target Nigerians. No doubt, it's impossible to reach customers and so consumers if timing is off, as they will not be paying attention in the first place," said Tziokas.
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