Don’t wait for the money

It’s clear that the old school approach to media buying is behind the lack of commitment to mobile spending.  I am not a true believer in the idea that traditional media strategies (banners and rich media units) will ultimately work in mobile, but before the riddle is solved one thing is certain:  we need more data in the channel to figure it out.  Since no brands are offering free placements, there needs to be a much greater level of spending to definitively see what works and what doesn’t.  Until then, these drips and drabs of trickle-funds will not yield anything compelling enough to open the floodgates.   We are at a strange inflection point in mobile marketing, where virtually all brand marketers finally agree that mobile is real – hell, critical – but no one really knows the “formula” to unleash its power from a ROI perspective.  So, brands wait for the money to return and keep one toe in the water until it arrives.  What’s needed is something that won’t likely happen:  an industry consortium of brands across verticals who collectively agree to spend another 10-20% of their media and marketing dollars to mobile in 13 Q4 and 14Q2/2 to flood the channel with campaigns (as well planned and strategically sound as is possible of course) to generate some real data that can be evaluated by mid-year 2014.  Someone will make it through the glass ceiling.  This will never happen.  Brands will continue their Hamlet-like approach to mobile – pontificating, philosophizing, ruminating, doubting and waiting for their money to return.   

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