Time to Develop a Strategy for Mobile MarketingTime to Develop a Strategy for Mobile Marketing

Just when you thought that you had Internet marketing figured out, a new advertising vehicle has emerged. Mobile marketing has already taken root in Asia, mainly in Japan and South Korea, and is soon expected to wash up onshore here.Market research firm ABI Research expects worldwide mobile marketing to jump from $1.8 billion in 2007 to $24 billion in 2013. Noting the high growth, start up vendors, such as Admob, Enpocket and Millennial Media, have been trying to build viable business in this area. In addition, larger players, such as Google, Yahoo, and Nokia, have made significant investments to try and grab a slice of this emerging and rapidly changing market

Because the market is fledgling, entering it presents some risk. Unlike advertising venues, such as TV or the Internet, mobile marketing is fragmented. Ads have to be designed for specific cell phones and PDAs, and hundreds of different models are now available. Also the mechanisms used to track the effectiveness of mobile advertising are just beginning to emerge, so small and medium businesses may not be certain about the risks/rewards that the market offers.

Despite those issues, the mobile advertising market is poised to take off. While your company may not be ready to jump into it now, you should be monitoring it and trying to gauge its potential impact on your business. You do not want to be caught unaware of its impact when the market blossoms.

Does your company have much interest in mobile marketing? What do you view as its potential benefits? What do you see as the risks involved with it?