What does the future hold for mobile advertising in India and what does this mean for ad-tech platforms as they work with brands to ensure conversions as coronavirus changes the rules of the game as we grapple to deal with this new normal.
Shereen Bhan discussed with Naveen Tewari, founder & CEO of InMobi Group, about the future of the mobile advertising space and the impact of the COVID-19 pandemic on the business.
An internet boom and easy access to smartphones have ensured that Indians are now consuming content on phones like never before. Mobile is now the backbone of online advertising and mobile apps are where the bulk of action takes place for both the user and the advertiser. And with most locked in at home due to the coronavirus crisis, usage has surged.
According to advertising technology platform InMobi, in the first quarter, mobile ads targeted at shoppers grew 28 percent year-on-year, while music and audio, health and fitness, and education-related ads saw a whopping 500 percent growth in India, marking the immense growth potential the space has to offer to brands.
Of course the consumers don't seem to be complaining - mobile video ads are now the most engaging advertising format with click through rates or CTR as high as 2.5 times higher in comparison to other formats.
Watch this video for details