Every year when Mary Meeker releases her latest Internet Trends 2015 report, businesses all over the world sit up and take notice. Over the past two decades they’ve become web based scripture. Mary Meeker is an analyst and partner with Kleiner Perkins and recently released her latest edition of the Internet trends report. The much anticipated 2015 version covers the key trends of the digital business world from the unstoppable rise of drone technology to the vast potential of mobile based ads. The report clocks in at a staggering 196 slides (if you’re viewing this via desktop you can click on each slide to view an enlarged image), so we’ve focused on the five key trends likely to affect your business:
1.) Americans are constantly connected to the web
This will come as little surprise. According to the Internet Trends Report, we’re constantly connected to the web. In fact, we’re connected to the web more so than ever before and this trend displays no sign of stopping. The average American now spends an incredible 6 hours each day connected to the Internet. The report highlights the fact that we’re constantly online and it also suggests that most of this time is spent via smartphones and tablets. In fact, a staggering 51% of traffic now comes directly from mobile devices. What’s absolutely clear from the report is that your customers will continue to spend an increasing amount of time connected to the web and that mobile content consumption will continue to drive our obsession with web connectivity.
If you’re running a business or involved in marketing this presents enormous opportunity in terms of advertising. Too many businesses are focused on investing valuable advertising expenditure through the wrong channels. Your customers are obsessed with mobile and spending more time than ever consuming content via smartphones and tablets. The time to start thinking about a mobile marketing campaign is now. Most consumers will start their research on mobile devices and we think it’s essential for your business to have a specialist mobile marketing agency that can put you streets ahead of the competition – when your prospects are early in the buying cycle.
2.) Consumers are shifting towards vertical video
In 2010, vertically-oriented viewing accounted for less than 5% of all video consumption. Fast forward to 2015 and an incredible 29% of videos are consumed through vertical orientation. What’s also apparent is that video consumption is continuing to grow at an astonishing rate. Facebook now receives over 4 billion video reviews every day with more than 75% of traffic coming from smartphones. On Snapchat, video ads that are viewed vertically receive 9x as many completions as horizontal.
If you’re using video as part of your digital marketing mix you may want to consider how to flip your content into vertical orientation. Consumers avoid rotating the phone into landscape mode for ease and convenience so you’ll need to start serving content that matches these adapting behaviours. If you’re not creating video that can be consumed easily on mobile devices then you need to do something fast to get ahead of your rivals.
3.) 6 of the top ten apps relate to messaging
The world of mobile apps largely revolves around instant chat functionality – overall in terms of usage, six of the top ten apps are dedicated entirely to messaging. Have you ever stopped and wondered exactly why Facebook paid a whopping $22 billion for WhatsApp? The answer is simple and Facebook understood the significance of messaging on mobile devices. The fact is – overall mobile consumption is virtually entirely dominated by messaging apps in terms of usage and number of sessions per day. Your customers are constantly using mobile apps such as Facebook, WhatsApp and Instagram (all three of these apps are owned by Facebook!).
If you’re a business breaking into mobile think about how messaging functionality could be incorporated within your app. You could harness the power of instant messaging via mobile to create dialogue with your customers or to encourage the flow of communication between your employees. You have to be accutely conscious of the fact that your consumers are increasingly spending their time using mobile devices and a large percentage of this time is spent messaging. Increasingly we’ll see targeted, niche messaging apps coming onto the market and there’s huge scope to provide engaging and meaningful content for your user base via these channels.
4.) $25 Billion in mobile ad revenue is there for the taking
Brands and businesses all over the world are spending WAY too much time, energy and money focusing on print advertising. The horrible truth of the matter is – print advertising is a rapidly declining medium. Your customers are spending less and less time every year consuming content via magazines, newspapers and other forms of print media. If you’re a business owner relying on print media advertising it’s time to consider a radically different approach to your marketing efforts. You cant continue to invest valuable resources in a declining and overly crowded advertising medium. In terms of your advertising budget for future campaigns, all signs point to mobile. An astonishing 24% of all media is now consumed via mobile devices and this is where you need to direct your marketing and advertising budget. However only 8% of advertising expenditure is directed at consumers using mobile devices. Conversely, print media accounts for 4% of overall media consumption and receives 18% of all advertising expenditure. This is a crazy statistic and serves to highlight the fact that most marketers are doing the wrong things. If you’re heavily invested in print ad expenditure this includes you.
This presents enormous opportunities for marketers. If you’re an advertiser using print and other traditional means of communicating your message, the time to stop and re-evaluate is now. Your audience is rapidly disappearing and you need to keep up with the times. This sounds harsh but the reality is, there are huge gains to be made using mobile as your primary advertising channel. If mobile isn’t already part of your advertising strategy you need to change this fast and stop relying on outdated print based channels to get your message across to your customers.The fact is, your customers are abandoning print in their droves and consuming content via mobile devices. Your focus needs to be mobile.
5.) There are massive opportunities for education, government and healthcare
The scope for web based innovation is massive. If you consider the seismic effect the Internet has had on our lives to date, and then consider the scope for future innovation, it’s clear we’re at the start of something special based on these slides. Within consumer and business sectors Internet adoption is relatively mature. However, other sectors that are subject to tighter regulations have been slower to embrace web based innovation and the potential for change is enormous. Mary Meeker identifies education, healthcare and government as being three areas that are ripe for Internet led market disruption.
If you’re a business with an established piece of web based software for desktop, the time to consider your mobile strategy is now. Diffusing mobile first thinking and expertise into your team can be extremely tough, given that the right skills are in tight supply and massive demand. If you’re involved with healthcare, government or education, the scope for innovation is massive.
Are you a business seeking mobile development and optimisation capability? If so, contact Waracle today to start the conversation.